Tag Archives: economy

Business/Economics, Technology, U.S.

What Economic Recovery? Hewlett Packard going down, HP to cut even more jobs in Boise?

“We didn’t make the investments we should have during the past few years to stay ahead of customer expectations and market trends. As a result, we see eroding revenue and profits today.”-Meg Whitman, CEO of HP, February interview

There’s rumors that Hewlett Packard is considering merging its computer production, with its printer production.  Boise, Idaho, is home to a huge HP compound that includes  printer manufacturing.

Analysts say they don’t know what good will come from such a merger, but agree that people are going to lose their jobs: “HP has some massive structural fixes that they need to make, and this doesn’t come close. I don’t see how this changes anything apart from probably giving you an excuse to cut some heads and cut some costs.”-Rob Cihra, Evercore Partners

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

World War 3: Germany sells more Dolphin Submarines to Israel

March 20, 2012, Germany’s Defense Minister, Thomas de Maiziere, announced that Germany will sell Israel at least one more Dolphin submarine.

The Dolphin submarine is made specially for Israel, and is a smaller version of the 209 class sub.  It can carry SLCM (submarine launched cruise missiles) which can be armed with nuclear warheads.  Oh, but I don’t hear any Western powers complaining about that!

Not only is Germany selling more of these submarines to Israel, but according to an unnamed source in the German government, they’re covering one third of the cost (about $178 million) and providing easy loans to Israel in order to pay for the rest!

Israel has three of the 2,800 mile range submarines, with two on order not counting this latest announcement.

 

Business/Economics, International, Technology

Nissan to bring Datsun back to life

Up until the mid 1980s Nissans were sold in the U.S. under the Datsun name.  Now Nissan is reviving that brand, but not for the United States.

Nissan says Datsun vehicles became known as cheap but reliable cars.  They are reviving the brand name for the Indonesian, Indian and Russian car markets.

Datsun started in 1931 as DAT motors. Its smaller cars were called DAT-son, as in son of DAT.  In 1933, Nissan took over the company and changed the name to Datsun, because the Japanese Emperor is considered a descendant of the sun goddess Amaterasu, and because ‘son’ means loss in Japanese.

The cars will be made in factories in those countries.  Indonesia is now the number one car market in South East Asia, 890,000 vehicles were sold there in 2011!

 

 

Business/Economics, International, U.S.

Oil & Gas Prices: More Hypocrisy; the U.S. exempts EU & Japan from Iran oil sanctions

In a move that is hypocritical, the United States has exempted 10 European Union countries, and Japan, from U.S. imposed Iran oil sanctions.

It also brings up the question: What was the point?

I already showed how, under the Bush jr administration, U.S. corporations were exempted from future sanctions against Iran, back in 2000!

The countries now granted exemptions from the U.S. oil sanctions are Belgium, United Kingdom, Czech Republic, France, Germany, Greece, Italy, Netherlands, Poland, Spain and Japan.

Again: What was the point of the U.S. imposed sanctions against Iran, if the U.S. is going to grant exemptions to other countries, and, a Republican created law in 2000 already exempts U.S. corporations from having to obey any sanctions anyway?

Business/Economics, International

Oil & Gas Prices: Russian Gasoline exports making big money, Russia imposes big fuel tax! How would you like to pay as little as $2.00 per gallon?

For the first time Russian export gasoline (petrol) sales are making more money that domestic sales.

Last week Russian export premium gasoline hit $1,050 per ton.  Domestically sold premium gas was at $970 per ton.  Russian fuel exports have also increased in volume.

Most of Russia’s exported refined fuels go to Commonwealth of Independent
States (CIS) members, but export customers also include Virgin Islands and Netherlands.

Interestingly, the surge in fuel exports comes even after Russia imposed a 90% customs tax!  Analysts say even with such an outrageous tax, Russian fuel exports are still profitable because of how high the price of oil is.

According to Russian media, the price of premium gasoline, in the CIS countries, varies from $4.00 per gallon in some parts of Russia, to as little as $2.00 per gallon in parts of Kazakhstan!  ($1.00 per liter in Russia, 50 cents per liter in Kazakhstan)

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

Oil & Gas Prices: U.S. oil sanctions have actually increased Iranian oil sales! Saudi oil sales increase! Algeria oil increase! Ecuador oil increase! Iraq planning to avoid Strait of Hormuz

According to the Joint Organization Data Initiative (JODI), Iranian oil sales have gone up since the United States started their sanctions games last year!

In January 2012, Iran exported 2.265 million barrels per day. The highest since December 2008!

Of course part of the increase is from customers stocking up now, ’cause they’re afraid the Iranian oil supply will end due to new sanctions and a possible war (again, no thanks to the United States, European Union and Israel).

Those same sanctions, and threats of war, have also increased Saudi Arabian oil sales to the United States.  U.S. officials managed to get Saudi officials to change their minds about not increasing oil production, at a recent IEF meeting.

Canadian media reporting that Saudi oil exports to the U.S. have already increased by 25%.

Algeria and Ecuador have also increased oil production.  Algeria by 18%, Ecuador by 41%!

All this comes at a time when oil industry leaders say there is plenty of oil in the system. It could be a sign of stockpiling before the Third World War gets going full throttle.

Iraq is preparing by planning oil shipment routes that will avoid the Strait of Hormuz. They plan to build new pipelines to Turkey: “Short and mid-term plans will be through boosting crude pumping and upgrading export capacity via Ceyhan port in Turkey. Also to increase the number of trucks that are shipping crude.”-Iraqi government statement

 

Influenza

H1N1: Swine flu killing people in India, affordable vaccine shortage, services forced to cut back on care due to lack of money

H1N1 is hitting one Indian city hard & fast, partly due to a shortage of vaccines.  In one week four people have died!  Five are in critical condition.

Pune officials had to destroy their stock of nasal spray vaccines because they had expired.  But there’s no shortage of other forms of more expensive H1N1 vaccines, just a shortage of cash to pay for them!

As of March 18, 2012, 58 people are confirmed infected with H1N1, with 15,000 people being tested for H1N1.  However, to cut costs officials have decided to restrict who gets tested for H1N1: “Only patients down with influenza like symptoms but having associated illnesses like diabetes, hypertension and other chronic illnesses as well as those falling in category A, irrespective of whether they have other co-morbid conditions or not, will be tested for swine flu infection.”-Pravin Shingare, Medical Education and Research (DMER)

On March 17, 2012, Mumbai state health officials called an emergency meeting.  They are trying to figure out the cause of such a sudden, and deadly outburst of H1N1.

So far they’re blaming lack of immunity caused by a new mutant strain of H1N1, and other medical conditions of the patient: “The last outbreak was reported over a year and half ago. The herd immunity people developed after that is on the decline hence people with compromised immunity due to pre-existing morbidities like diabetes, hypertension, cardiac illness, cancer etc are more susceptible.”-Pradeep Awate, state health surveillance officer

They also blame unusually cold weather for India: “The sudden cold wave in February following by the current transition period and difference in diurnal temperatures are favorable conditions for influenza infections like swine flu.”-Pradeep Awate, state health surveillance officer

Influenza

H5N1: Bird flu kills more than 15,000 in Nepal, Hong Kong finds more victims, yet more human cases in Indonesia

Nepal’s Animal Health Directorate reported that bird flu is spreading like wild fire in their country.  So far 15,160 chickens have died on just one farm.

Test results have finally come in, and confirmed it was bird flu. Now officials will begin killing off the rest of the poultry on farms that have had cases of bird flu.

This is devastating to Nepal’s poultry industry, and could result in a food shortage.

In Hong Kong, another wild bird was found dead.  The crow tested positive for H5 avian influenza.  Hong Kong has seen a number of wild birds dying from the virus, normally it’s domesticated poultry.

The wild birds had not been found near poultry farms.  The crow was found in a planter at a gas station.

Indonesia continues to have more human cases.  According to the UN’s World Health Organization, 18 people have become sick, with ten dying in the 2011-2012 flu season.

The latest death was a 24 year old woman who got sick with fever on February 23.  She died on 01 March 2012.  She worked at a poultry farm where chickens were infected.

 

 

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

Idaho’s Hoku Materials better get its rear in gear, Customers who have prepaid are getting impatient could go elsewhere

“For Hoku and its majority shareholder Tianwei New Energy Holdings, things cannot be worse.”-Rober Dydo, CEO of Solar PV Investor

March 18, 2012, customers who have pre-paid for Hoku’s polysilicon are getting restless.  One buyer, Jinko Solar, has already reduced their original purchase contract of ten years down to eight.  And there’s rumors they want to reduce it even more.

Hoku also owes two other buyers, Hanwha Solar One and Solargiga.  In total the three customers already paid Hoku $140 million!

To make matters worse, Jinko Solar is the only Chinese customer that is not in trouble financially.  This means that Hanwha Solar One, and Solargiga, are more likely to cancel their contracts all together.

To top everything, Hoku Materials, in Pocatello, Idaho, is still not ready for production and the delays are only costing more money: “The current estimate for the cost of facility is now $600 million to complete Phase I of 2,500 metric ton (MT) of capacity. Phase II with the complete capacity of 4,000 MT will cost another $100 million to complete. All told the $700 million dollar price tag is 70.7% more than its previous estimate…“-Michael Lofing, CPA and market analyst

IDAHO’S HOKU MATERIALS LOSES $28 MILLION, BLAMES IDAHO POWER. 

Business/Economics, U.S.

Corporate Evil: Proof that there are plenty of skilled laborers in the U.S., Ford just doesn’t want to pay them what they’re worth. Mike Rowe patsie for Corporate America

“….we’re surprised that high unemployment can exist at the same time as a skilled labor shortage.”-Mike Rowe, testimony to Senate Commerce Committee

Don’t be so surprised Mike Rowe.  Your sponsor, Ford, is a prime example of why there is not a skilled labor shortage, only a shortage of skilled laborers who want to get paid less than what they’re worth!

Ford has forced 1,700 skilled employees to take early retirement.  The last day for those employees will be June 1, 2012.

Last autumn Ford announced they were cutting their skilled workforce.  Ford officials said they have too many skilled employees!!!

But wait, Ford isn’t in trouble, in fact they’re planing to hire hundreds of new skilled workers, why?  Because Ford will pay them much less than experienced employees.

An announcement by Ford, and the United Auto Workers union, said the move to push out experienced skilled workers is so Ford can replace them with new hires at half the cost!!!

This is another proof that there are plenty of skilled workers in the United States!  That’s right Mike Rowe, it’s not about any lack of skilled workers, it’s all about paying them less and less!!!