Tag Archives: employment

What Economic Recovery? Problems, and hopes, for east Idaho’s Eagle Rock owner; Areva

Back in March, Areva announced a $3.2 billion USD loss, which is what it would cost to build the planned Eagle Rock Enrichment Facility near Idaho Falls, Idaho.

Now Areva, based in France, is struggling to raise cash just to survive.  But there is also some hopeful news for Areva.

29 May 2012, Areva announced “outstanding” performance results from their Steam Generator Repair Services crew.  They just finished work on the Indiana Michigan Power Donald C. Cook nuke plant:  “Constant monitoring and good peer checking by our team were the key factors that contributed to zero safety incidents and very low dose [radiation exposure].”-Mike Jefferson, Field Operations Manager

 

 

29 May 2012, Finnish media reporting that Areva is five years behind scheduled, for completion of Finland’s third generation nuclear power plant.  Areva officials blame it on the fact that no nuclear plant has been built in Europe for 20 years, resulting in troubles finding reliable supply chains for proper construction materials.

28 May 2012, The Canadian Environmental Assessment Agency started taking final public comments on the possibility of Areva operating a uranium mine located 700 kilometres north of Prince Albert, Saskatchewan.

15 May 2012, Areva announced that it will partner with Japan’s Mitsubishi to search for uranium in Australia.

2 May 2012, Areva announced it was selling its nuclear radiation measurement unit in Australia, to raise needed cash.  CEO, Luc Oursel, says the company needs to raise at least 1.2 billion euros by the end of 2013, to make up for huge loses!  He plans on doing that by selling off Areva assets.

At the end of April 2012, the country of Jordan announced that Areva and Mitsubishi were being considered to build the country’s first nuclear reactor.

 

 

 

Global Economic War: New study shows lack of business had a lot to do with the collapse of the Mayan Empire. Similar to the collapse of the Caliphate. “It’s the Economy stupid.”

A new study published in the journal Antiquity, reveals a new factor in the collapse of the Mayan Empire.  You can now add ‘bad economy’ to social unrest, disease, warfare, drought and deforestation.

The bad economy was due to a shift away from inland centers of business, to coastal centers.  Researchers at the University of Illinois say the main product the Mayan’s traded was obsidian.  It was used for making tools, as the Mesoamericans had not yet learned how to make metals strong enough for tools.

Researchers say Mayan maps show that the obsidian, and other products, were increasingly sent to coastal areas for trade.  They are not sure why, but speculate that military/political/social/environmental problems inland could be factors. Also, methods to ship over water probably improved.

I think they are correct, because if you study the demise of the Islamic Caliphate you realize that it was a combination of internal political disputes and, mainly, the ability of the Europeans to sail directly to Asia, thus avoiding the traditional Silk Road.

The invasion of North Africa by Napoleon, and finally the demise of the Ottoman Empire, were only the end result of a long period of decline for the Muslim Empire.

From the beginning of the Caliphate there were always internal problems arising out of differences of opinions as to how the Empire should be run, but that’s typical with all societies. The true cause of their collapse is economic. The Muslim Empire controlled most of the famous Silk Road trade routes, and the Christian Crusades were attempts by Europeans to regain a piece of that pie (of which they had since the time of Alexander the Great, forget the rhetoric about religion and god).

It actually began in earnest when the Portuguese, followed by the British and Dutch, were able to finally sail around Africa to the point where the Silk Road actually began, in a sense cutting out the middle men who controlled the trade routes through the Muslim Empire.

What’s been going on since the discovery of oil in the Middle East, is an attempt by Western societies to maintain control of the region, and prevent the locals (who have radically different ideas about politics/religion/economics) from regaining a position of economic power.

So, as usual, most wars are economic, that is, an attempt to monopolize international trade. As one infamous U.S. President said, before he became president: “It’s the economy, stupid!”-Campaign slogan created for Bill Clinton, by James Carville, criticizing then U.S. President George H.W. Bush

 

What Economic Recovery? Despite defending Obama’s NATO meeting, Chicago can’t pay its cops!

“First, the City took the unusual position that Officers could not request to be credited with compensatory time for any overtime that they worked during the NATO Summit knowing that this was a clear violation of our contract. Now, after our Mayor, Superintendent, and the citizens of Chicago have heaped praise upon Chicago Police Officers for their excellent work at the NATO Summit, the City has taken the position that Officers are not entitled to compensation for working a sixth or seventh consecutive day during a single calendar week.”-Fraternal Order of Police (FOP) Chicago Lodge 7

“NATO is not an excuse for the city of Chicago to circumvent the contract. It clearly states that officers working overtime are to be paid in either time or money…..This is just another example of the city not honoring the contract.”-Mike Shields, FOP president

Some Chicago cops are starting to realize that those elites they defend are about to screw them over, welcome to the club!

What Economic Recovery? 45,000 U.S. Postal workers to be forced out

25 May 2012, the U.S. Postal Service is offering buyouts to 45,000 part time mail handlers.

It’s part of the USPS’s plans to layoff 150,000 employees by 2015.  Postal officials had no comment about how they were going to do that.

You can blame the U.S. Congress for forcing the Postal Service to over pay into government retirement and health plans, even though the USPS does not get any tax dollars!!!

The money for the U.S. Postal Service comes directly from sales of postage and mail services!

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!

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.

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

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.

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?

 

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%.