Tag Archives: economy

Business/Economics, International, U.S.

World War 3: Egyptian police discover evidence of U.S. plot to destabilize their country, pro-U.S. Egyptian Army interferes

“The Secretary expressed his deep concern about the raids that took place on December 29 on the offices of American and other NGOs.”–George Little, Pentagon

On December 29, Egyptian police and court officials raided several non-governmental organizations (NGO), many supported with taxpayer dollars from the United States, on grounds they’ve been funding civil unrest in Egypt.

However, Egypt’s pro-U.S. military government stopped the raids after getting phone calls from U.S. Secretary of Defense Leon Panetta, and U.S. Ambassador Anne Patterson.

“…all international NGOs, including those that receive U.S. government support, (to) be able to return to normal operations as soon as possible…”-Victoria Nuland, U.S. State Department

The military government of Egypt has demonstrated they are the puppet of the United States, by their quick kowtowing to U.S. demands concerning U.S. taxpayer funded NGOs.

Business/Economics, U.S.

Corporate Deception: Mitt Romney’s Bain Capital gives campaign money to Romney and Barack Obama

You’d expect the company that Mitt Romney co-founded to fund his presidential campaign, but not to fund President Obama’s re-election bid, but that’s what is happening.

It’s been revealed that between January and September 2011, employees of Bain Capital officially gave Mitt Romney $84,500, and, they gave Barack Obama $27,500!

Not only that but so far this year, Bain Capital employees donated $123,200 to the Democratic National Committee.  Interestingly they’ve not donated any money to the Republican National Committee.  However, they did donate to a pro-Romney super PAC; $1.25 million!

To be sure, employees of Bain Capital, and other affiliated companies, have sent 75% of this years election campaign donations to the Republicans.  But, in the 2008 campaigns two thirds of their money went to Democrats!  Mmmm.

They say follow the money to get your answers, so if it matters who and where a presidential candidate gets their money from then it looks like Mitt Romney will be President.   After all, Bain Capital & Co supported Obama and the Democrats more than Romney in 2008, now it’s the other way ’round.

This is just more evidence that ‘our’ leaders are just two sides of the same coin.

Donation amounts compiled by the Center for Responsive Politics.

Corporate Evil: SEARS & KMART CONNECTED TO ROMNEY’S BAIN CAPITAL! BAIN CAPITAL WORKING WITH CARLYLE GROUP!

 

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

Corporate Incompetence: 20 cases of cancer linked to breast implants, involving more countries, former company president gone missing now wanted by police, insurance companies suing

“We are faced with a health crisis linked to a scam. The whole profession is aware of it.”-Laurent Lantieri, plastic surgeon

The case of Poly Implant Prosthesis (PIP) is spreading to other countries, and several cancer cases could now be linked, and insurance companies are now suing. 

More than 300,000 women, in 65 countries including France, Italy, Spain, U.K., Venezuela, Brazil, Germany and Ukraine could be affected by the PIP silicon breasts.  At least 1000 women in France had their implants rupture.

PIP filed for bankruptcy after they were sued in British court, and lost.  Then it was revealed they were using industrial silicon, instead of medical grade silicon, in their breast implants.  But now important company documents, along with the company’s founder, Jean-Claude Mas, have gone missing and Interpol is looking for them.

In 2010, at least one case of a woman who died from cancer, was being investigated as murder because of her PIP implants.  On December 30, 2011, the French government revealed that at least 20 cases of cancer can be directly linked to PIP: “…there were three cases of lymphoma, 15 cases of breast adenocarcinoma, the most common form of breast cancer, one case of adenocarcinoma of the lung, and one case of acute myeloid leukemia.”-French Health Products Safety Agency

The government of Italy has ordered doctors and hospitals to report women who have PIP made implants.  Brazil and the United Kingdom are telling women with PIP implants to get checked up right away.  Brazil has banned the use of PIP products. France’s National Health Insurance Fund is now suing.  Venezuela’s government says it will pay for removing PIP implants.  In 2000, the U.S. FDA banned PIP products from the being used in the United States.

In a perverted twist, Jean-Claude Mas’s son and daughter have filed papers to create a new silicon implant company, and they list their father as an official consultant.  I wonder if Interpol knows.  The new company is scheduled to open in June 2012.

 

 

 

Fukushima

Global Food Crisis: 80% of damaged Japanese farmland unusable in 2012!

The Japanese government announced that it hopes to restore farmland damaged by salt contamination, caused by the March tsunamis.  However, only 20% will be restored in 2012, leaving 80% unusable.

Most of that farmland is in Fukushima, Miyagi and Iwate Prefectures.  Those prefectures make up one of the largest agricultural areas of Japan.  About 20,500 hectares (50,656 acres) were destroyed by the sea salt.

The Agriculture Ministry says it will take at least three years to restore the farmland, and that does not count the land in highly radioactive areas around the damaged Fukushima Daiichi nuclear plant.

It’s interesting that the earthquake, tsunamis and ongoing nuclear disaster hit one of Japan’s biggest areas for agriculture and fishing.

 

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

What Economic Recovery? More trouble for Idaho’s Hoku polysilicon factory, looks more and more like the deal is off!

“If service is terminated, these high value systems may freeze, causing irreparable and material damage to Hoku’s plant assets. Any damage would need to be repaired, at additional cost, prior to continuing with the commissioning and operation of the plant.”-Hoku Corporation complaint to Idaho Public Utilities Commision

“The fact of the matter is, Hoku has missed a payment it owes to Idaho Power and has failed to provide….any assurance that such a payment will be forthcoming. Idaho Power has concerns that if the commission allows the Hoku complaint to run the usual course….Hoku could potentially become millions of dollars delinquent in amounts it owes.”-Idaho Power response

Pocatello, Idaho’s, polysilcon factory, run by Hoku Materials (which is a subsidiary of Hoku Corporation, which is 60% owned by China’s Tianwei New Energy Holdings Company Limited) has run into trouble with Idaho Power, again.

Hoku failed to pay its electric bill, and Idaho Power says it will discontinue service.  Hoku was served with the disconnect notice on December 22.  This is not the first time Hoku has had trouble with their electric bill.

Earlier this month, Chinese media reported that Hoku had started operations, but now it’s clear that was just wishful thinking by Tianwei New Energy Holdings Company Limited.  The Chinese claim was based on Hoku CEO Scott Paul saying things were ready to go back on November 21.

This just adds to the ever growing problems with Hoku:  Their CFO resigned, they lost nearly $8 million in their last reporting quarter, they had to sell majority shares to Chinese companies (as well as take Chinese loans) to raise enough money to finish construction of their factory, and the ongoing tit for tat trade war between the U.S. and China (involving U.S. made polysilicon and Chinese made photo voltaic products) could mean curtains for a company that has hundreds of people in the Chubbuck/Pocatello area hoping to get a job with Hoku.

GLOBAL ECONOMIC WAR: IDAHO POLYSILCON PRODUCER, HOKU, QUIETLY STARTS OPERATIONS,  LOSES MILLIONS OF DOLLARS AGAIN

Business/Economics, Idaho, U.S.

Corporate Evil: Sears & Kmart connected to Romney’s Bain Capital! Bain Capital working with Carlyle Group!

News reports have been revealing that the Mitt Romney co-founded Bain Capital (and its affiliates) are behind many of the huge job layoffs in the United States, since the late 1980s.

Turns out that Bain Capital could be involved with the problems at Sears and Kmart!!!

In 2005, Vornado Realty Trust bought 7.5 million shares of Sears Canada. Vornado was also involved with Bain Capital in taking over Toys “R” Us, which  took over KB Toys resulting in 3,400 jobs lost.

Vornado also backed the take over of Sears by Kmart in 2005, leading to the creation of Sears Holdings Corporation.

Part of the recent list of Sears/Kmart store closings showed that several Sears stores were being converted into Kmart stores.  Is this just a Bain Capital inspired conspiracy to shut down Sears?

In another posting I showed how the demise of KB Toys, and the take over of Toys “R” Us, were part of the Mitt Romney style of ‘investing’ which results in net job losses.

In the early 1990s, Bain Capital, along with a company called Acadia Partners, bought the Coldwell Banker subsidiary from Sears.

Here’s the scary thing. In the short time I researched Romney’s creation, Bain Capital, it became clear that the so called investment company is involved in almost every corporation in the United States!

Bain Capital, along with dozens of other so called investment companies (including the infamous Carlyle Group) are systematically taking over and shutting down businesses in the United States.  Those shut downs are not based on the true performance of those companies, but on the personal desires of those involved in the so called investment companies (as I tried to explain in a previous posting). And it’s all about the money.

Of interest is the fact that Bain Capital’s 13F-HR filing, for June 2011, shows that it owns stocks in only five companies!  Their 13F-HR statement says those five companies make up 100% of their stock holdings. Pretty pathetic for such a prolific investment company!

Political Incompetence & Corporate Evil: CHRISTIAN/MORMON MITT ROMNEY CO-FOUNDED BAIN CAPITAL, WHICH HAS BEEN DESTROYING JOBS SINCE 1984! DESTROYED JOBS IN CHUBBUCK, IDAHO. DEMISE OF KB TOYS CONNECTED TO TOYS “R” US

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

Political Incompetence & Corporate Evil: Christian/Mormon Mitt Romney co-founded Bain Capital, which has been destroying jobs since 1984! Destroyed jobs in Chubbuck, Idaho. Demise of KB Toys connected to Toys “R” Us

“Mitt Romney’s history at Bain Capital is not going to help his image as a job creator.  Now, we want to disclose that NBC Universal and Bain Capital are each a part owner of the Weather Channel.  Bain Capital’s main business model is buying companies like American Pad and Paper and restructuring [industry code for ‘slash and burn’] them.  In many instances, Bain turned a profit by strip mining these companies.  American,  AMPAD is what it’s known, the stock was driven down [on purpose by Romney, I explain a little further in the article] and the company went bankrupt.  They fired hundreds of workers along the way.”-Ed Shultz, MSNBC

MSNBC is admitting that a company affiliated with NBC, Bain Capital  co-founded by Mitt Romney, has been destroying jobs, not creating jobs as Romney claims.

In 1984 Romney co-founded Bain Capital, which grew out of Bain & Company.  The soul purpose of the company is to buy out other companies, then gut them and sell them off piece by piece. Of course this means jobs are destroyed.

Interestingly, back in October, MSNBC’s Ed Shultz actually downplayed Romney’s connection to Bain Capital.  He and some of his guests, stated that a photo published in the Boston Globe was fake: “…it’s probablly a joke photo.”

Now Ed Shultz is backpedaling.  He, along with other MSNBC anchors and reporters, are revealing that Bain Capital has been behind many of the job loses in this country since the late 1980s!

The New York Times reported that Romney left Bain Capital in 1999, but, as part of his ‘retirement package’ is making money off their continued slashing and burning of U.S. jobs.  According to the article, Romney, 13 years after leaving Bain Capital, is still making millions of dollars off his retirement package!

old kb toys pine ridge mall

Former location of KB Toys, Pine Ridge Mall, Chubbuck, Idaho

Anybody remember KB Toys? I do. I was an employee of the Chubbuck, Idaho, Pine Ridge Mall at the time they closed down the KB Toys store in that mall. By 2004 KB Toys went bankrupt and 3,400 people lost their jobs! Guess what, one of Bain Capital’s affiliated companies was behind that!!!

pine ridge mall

Fading Pine Ridge Mall, Chubbuck, Idaho

Oh, and what about Romney’s connection to Massachusetts? Romney ‘retired’ from Bain Capital in 1999.  The Bain Capital partnership took over KB Toys in 2000.  KB Toys is headquartered in Pittsfield, Massachusetts. Romney became governor of Massachusetts in 2002.  In 2003 the Bain Capital partnership started shutting down KB Toys stores. Mmmm, connection?

Here are some more examples of deals that resulted in job losses at the hands of Romney’s Bain Capital (and affiliated companies like Holson Burnes Group): Clear Channel Communications, 2,500 job cuts.

Photo album factory in South Carolina, 150 jobs lost.

Sensata Technologies, a European company with U.S. operations, several hundred U.S. employees lost their jobs.

American Pad & Paper, or AMPAD, lost 185 jobs.

The case of AMPAD reveals how Romney’s Bain Capital works.  They buy up companies in the same market, then they whittle them down until there is only one or two in the market, who then become big money makers by default.  AMPAD’s competitor was Staples. Romney touts Staples as a good example of his management skills, but what the Boston Globe found out (and reported in a 2007 article) is that Romney simply bought out competitors and shut them down until Staples was just about the only game left in town.

Now how about the KB Toys deal? KB Toys and Toys “R” Us were the top toy stores in the United States.  A company connected to Bain Capital buys out KB Toys and shuts them down.  What about Toys “R” Us? Yes there’s a Bain Capital connection.  In 2005, one year after the KB Toys bankruptcy, Toys “R” Us was taken over by KKR Group, Vornado Realty Trust and Bain Capital for $6.6 billion!  In 2009 Toys “R” Us takes over what is left of KB Toys; website, trademarks, and intellectual property rights.  Mmmm, you seeing the pattern?

This goes against the principle of the free hand of capitalist competition.  The jobs lost because companies went out of business were not actually due to any ‘poor’ performance of the employees, or lack of sales, but because the ‘investors’ Romney & Co wanted it that way!

Also, Bain Capital works the same way the rest of Corporate America does, they don’t use their own money to take over companies, they take out huge loans from the too big to fail banks that got taxpayer bailouts!

One report said Romney’s “investments” have resulted in at least 12,000 U.S. jobs lost!  It’s probably more than that, the way Bain Capital and affiliated companies shut down businesses does not result in net jobs gained, but net jobs lost!  Anybody remember Oliver Stone’s 1987 movie Wall Street?

Opinion: MITT ROMNEY CONSTITUTIONALLY INCOMPETENT. RELIGION BASED MARRIAGE LAW WILL VIOLATE CONSTITUTION.

Washington DC BS: MITT’S MYSTERY MONEY NOT EXPLAINED BY LATEST ADMISSIONS

Fukushima

Government Incompetence & What Economic Recovery? Think your taxes are bad here in the U.S.? Try 45% income tax and 10% sales tax, welcome to Japan!

The Japanese government is about to raise taxes on its already struggling population.  This after Japanese unemployment hit record high levels.

The national government is pushing for an increase in income tax, from the current 40% to 45%!  They want to push their low national sales tax from the current 5% to 10% by October 2015 (still low by European standards).

The reason is to raise money to help pay for reconstruction of areas hit by the quake/tsunami, and to help with deal with the ongoing Fukushima Daiichi nuclear disaster.  I suspect that in the long run these tax hikes will only reduce consumer spending, helping to drive even more Japanese businesses away from Japan (that’s the reason for their record high unemployment).

The national government (the Diet) will vote on the tax reform plans after March 2012.

Fukushima

Global Food Crisis and Government & Corporate Incompetence: Fish catch down 70% off the coast of Fukushima, U.S. FDA misleads!

Fish catches, off the coast lines of Fukushima, Miyagi and Iwate Prefectures, is down 70%.  That’s from the beginning of April 2011 to the beginning of October 2011, compared to the same time last year.

Those three prefectures are the main fishing grounds for the local Japanese fishing industry.

The reasons are a combination of tsunami damage to ports (especially Miyagi, which was literally wiped out), and radiation contamination caused by Fukushima Daiichi nuclear power plant.  Most fishermen had voluntarily stopped fishing over radiation concerns, but some continued to fish, only to find out a lot of their catch was contaminated after it arrived at fish markets.

Contrary to the reassuring statements on the U.S. FDA website, there is no standardized Japanese government testing of fish (or any food product) for radiation contamination. Most contamination was (and still is being) found by private citizens groups, or local governments who acted on their own volition.

Business/Economics, Idaho, U.S.

What Economic Recovery? Health insurance rates in Idaho could go up more than 10%, thank you ObamaCare

Two insurance companies, that are part of Milwaukee based Assurant Health, have notified that Idaho Department of Insurance, that they will jack up rates by more than 10% in 2012.

Those two operations are John Alden Life Insurance and Time Insurance.  They’ve both filed rate increases of 13%!

This is part of the 2010 health care reforms, commonly known as ObamaCare.  Under the reforms an insurance plan that went into effect after September 1, can be subject to such rate increases.

The 2010 reforms actually allow insurance companies to jack up their rates as long as they can make a convincing case.  Some of the many accepted excuses are age and if you smoke.  Now how is that supposed to keep costs to consumers down?

To find out if your insurance plan (if you even have one) is jacking up your rates you can check companyprofiles.healthcare.gov.

 

Read more here: http://www.idahostatesman.com/2011/12/29/1932970/2-idaho-health-insurers-file-rate.html#storylink=cpy