Tag Archives: economy

Business/Economics, International, U.S.

What Economic Recovery? Chinese families told to prepare to tighten their belts, blame hyper inflation & Global Food Crisis

“Inflation may be a long term problem in the country because food prices may surge again and the price of manufacturing resources is likely to grow fast in the coming year.”-Zhang Shuguang, Unirule Institute of Economics

In one of the few countries where the economy is good, people are being told to prepare for the worst.

What should a family do? Those making enough money to save should start investing in physical assets, including precious metals, real estate and antiques.  (That advise is probably too late for those of us 99%ers in the United States.)

To give you an idea of how good the Chinese economy has been doing, read this: “Among urban families with average annual personal income between 50,000 yuan and 100,000 yuan, 63.7% have family wealth management plans this year, compared with 27.5% last year.“-Zhang Jinbao, Tsinghua University and Citi Foundation

Current savings trends for Chinese workers include health care, education for their children and retirement (so much for China being a communist/socialist country).  But now even bank officials are prompting families to put as much as 70% of their earnings into property, to try an avoid the coming hyper inflation!

Business/Economics, U.S.

What Economic Recovery? 200 people lose their jobs on Xmas Eve, hundreds more to follow. Hawaii Hospitals broke! Layoffs could have been avoided!

On December 23, 200 employees at the Hawaii Medical Center hospitals on Oahu, were told their last day on the job was Christmas Eve!  But that’s just the beginning, another 800 are scheduled to be laid off soon.

Here’s the real scandal; the hospital was up for sale and had a willing buyer, but the hospital’s owner said no!  The hospital is owned by Saint Francis Healthcare System of Hawaii.

 

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

What Economic Recovery? Idaho’s Micron loses big time, again. Many Idahoans still think Micron is Idaho’s major employer

Computer chip maker Micron reported another quarterly loss;  U.S.$187 million! This follows a $135 million loss the previous quarter.

It was hoped the end of a lawsuit, in Micron’s favor, would be a sign of better times to come, but not so.

A west Idaho newspaper reported that many Idahoans think of Micron as the Boise’s biggest private employer. Back in October I posted how real estate web sites, and even Wikipedia, incorrectly report Micron as the biggest employer in Boise.

With Micron’s continued loses it’s possible that they now employ less than the 5,000 people reported at the end of 2009.

 

 

Business/Economics, Technology, U.S.

OWS has their own spy UAV, based on the $300 Parrot AR drone, can be controled with your iPad

An Occupy Wall Streeter has modified a Parrot AR helicopter drone to be used to spy on the NYPD!

It has a built in camera and costs around $300.  It can be controlled using a smartphone or iPad.

There are plans to further modify it so control could be passed from one protestor to another, and they’re hoping to give it true remote piloting capabilities.

They hope to use the ‘occucopter’ to provide live video of OWS protests on the internet.

U.S.

Ron Paul already number one favorite in Iowa, establishment trying to down play it saying only “second and third place” winners count!

“The establishment has gone all out to virtually sabotage the credibility of the primary weeks before it even takes place, terrified that a Ron Paul success could upset the apple cart of the two RINO [Republican In Name Only] establishment candidates.”-Paul Joseph Watson, infowars.com

In state polling, ahead of the upcoming Iowa caucus, Ron Paul is the overall favorite, yet the establishment is trying to downplay it by saying only runner ups matter: “People are going to look at who comes in second and who comes in third. If Romney comes in a strong second, it definitely helps him going into New Hampshire and the other states.”-Terry Branstad, Governor of Iowa

Even Fox News’s Chris Wallace said “…I think most of the Republican establishment thinks he is not going to end up as the [Presidential] nominee. So, therefore, Iowa won’t count…”

Obviously Ron Paul is scaring the crap out of the Republican establishment, who have proven themselves not to be the Constitution loving conservatives they profess to be.  It also proves, again, that the mainstream media is not controlled by liberals, but by hypocritical right wing neo-conservatives!

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

Corporate Incompetence: Olympus misses deadline, Government raiding corporate offices & executives’ homes

After missing the December 14 deadline to turn over accounting books to government prosecutors, Olympus’s offices, and the homes of Olympus executives have been raided by government prosecutors and police.

Weeks ago Olympus executives made promise after promise saying they would meet the December 14 deadline for making their accounting books public.  Of course they did not keep that promise, not surprising when they ‘lost’ tens of billions of dollars since the late 1990s.

The losses are connected to an investment company that was based in the United States, and run by former Olympus officials.  Apparently it was an elaborate shell game, where investment losses were hidden under the guise of buying out other companies.

The latest reports out of Japan are saying that two Olympus executives have confessed to the crime; former Olympus vice president Hisashi Mori and former auditor Hideo Yamada.

 

 

International, Technology

Huge model Starfighter stolen from museum, owners fear it could be sold for scrap

In Netherlands, the aviation museum on Deelan air base had their huge model of an F-104 Starfighter stolen.

It’s made of aluminum and other metals, and the owners are fearful it will be sold for scrap.

Just how big is the model plane?  It’s bigger than a small Fiat car, and could weigh more than 1,000 pounds (reports vary from hundreds of kilos to 500 kilos)!

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

NAZI-land: If you think SOPA is bad check out what is already happening in U.S. courts, it’s called ‘rogue website lawsuits’ and they can take all your money without you ever showing up in court! PayPal involved

“Wow!”-Venkat Balasubramani, internet tech lawyer

“…the court is ordering the full transfer not just of websites, but of any funds being sent to a website.”-Eric Goldman, associate professor of law at Santa Clara University

The proposed Stop Online Piracy Act, or SOPA, has a lot of web users concerned, but what about what’s already taking place in U.S. Federal and State courts?  It can be called ‘rogue website/domain lawsuits’ and does not involve any true due process for those accused.  They can seize your domain name/website and any funds they claim is associated with it!

In most cases only the attorney’s for the accuser show up in court: “Nobody has showed up in any of these cases to contest his motions in court.”-Eric Goldman, associate professor of law at Santa Clara University

Attorney Eric Goldman has been following the big three cases, involving Chanel, True Religion clothing and Philip Morris.  They all claim that thousands of websites/domains are ripping them off by offering “counterfeit” products or services.  The problem is that the courts are hearing the cases without any response from those accused.

Something else that Goldman noticed is that in cases brought by Chanel and Philip Morris, only one attorney is being used; Stephen Gaffigan from Fort Lauderdale, Florida.

It appears True Religion is using a law firm called Greenberg Traurig.

In one Philip Morris case their only proof was a written statement from a private investigator saying he bought fake Philip Morris cigarettes off a such ‘n such website.

Many cases involve courts sealing documents, meaning the accused, or the public, can never see what’s in them: “For example; in the True Religion case, the entire action was sealed for a couple of weeks. Even without the seal, I don’t know how to find these ex parte rightsowner enforcement cases against foreign rogue websites other than laboriously reviewing every federal filing, having readers tip us off or serendipity.”-Eric Goldman, associate professor of law at Santa Clara University

The courts are ordering websites removed from Google and Yahoo, only to be ‘given’ to GoDaddy.  They also ordered Western Union to redirect customer payments to three individuals.  PayPal has also been forced to freeze at least 84 accounts.

These cases involve hundreds of websites/domains, and some of the cases specifically name Chinese individuals.  While they might have merit, the problem is that the courts have established the practice of rendering judgment without the accused having their day in court, or even allowing an appeal.

For more visit Eric Goldman’s Technology and Marketing Law Blog

 

 

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

What Econommic Recovery? SAAB officially bankrupt, will affect GM sales

SAAB is now officially bankrupt.  The company filed for bankruptcy after two Chinese companies changed their minds about buying the Swedish automaker.

There was talk that General Motors was concerned about the Chinese getting their hands on U.S. technologies, because GM supplied those parts to SAAB.

The demise of SAAB will now hurt GM’s parts sales.