Tag Archives: employment

Business/Economics, U.S.

Occupy Detroit! Officials say City workers need to make more sacrifices, City workers say it’s the Officials who are sucking up all the money!

“Simply put, our city is in a financial crisis, and city government is broken. That’s not new. That’s not an opinion. That is a fact.”-Dave Bing, Mayor of Detroit

Detroit is going bust, and the city leaders are taking it out on the city employees.

City leaders want employees to take a 10% cut in pay, and pay 10% more for their health benefits.  City workers responded by pointing to the fact that there’s too many high level salaried vampire officials sucking up all the money: “The problem isn’t us, it’s the layers and layers of management that should go!”-Catherine Phillips, government employees’ union

Business/Economics, International, U.S.

Corporate America Incompetence: Toyota opens new U.S. factory, two years behind schedule, blame Wall Street

A new Toyota factory opened in Blue Springs, Mississippi.  Company officials hope sales of Corollas goes up enough they can produce 150,000 new Corollas every year.

They also hope no more parts supply issues will hamper U.S. production.

The Mississippi plant could employ 2,000 people, and is the 14th Toyota factory in North America.

The factory was supposed to open more than two years ago, but the credit crisis hit Toyota’s financing for the construction, which caused the delay.  Toyota officials specifically blamed the Lehman Bros. scandal.  Thanks Wall Street!

 

Business/Economics, International, U.S.

Occupy the World! Greeks attack U.S. Embassy, Hundreds arrested in New York, Bank of America occupied in California, retired Cop says police work for the 1%!

“All the cops are just workers for the 1%…As soon as I’m let out of jail, I’ll be right back here and they’ll have to arrest me again.”-Ray Lewis, retired Philadelphia Police Captain

Don’t think the OWS movement is dead, thousands are trying to shut down Wall Street today, November 17.  Those thousands include health care workers, retired police officers and even investment brokers!

“The fact of the matter is, there is a schism between the rich and the poor and it’s getting wider.”–Gene Williams, bond trader

The NAZI NYPD physically attacked the protestors, so far more than 200 have been arrested.  At one point, when the protestors stared to sign the National Anthem, the NYPD blasted them with sound cannons.

Across the country, in California, at least 100 protestors were arrested after they tried to take over the Bank of America, California HQ, in San Francisco.  For awhile the protestors were successful, disrupting bank operations for about four hours.

In Greece, in what could be a revival of the anti-U.S. revolutionary movement, known as 17 November, thousands of Greeks attacked the U.S. Embassy.  In 1973 the Greek people overthrew the U.S. backed military government. Now they see what’s happening in their country as an attempt by the corporate world, specifically Corporate America, to take over their country again.

More than 20,000 people marched through central Athens, while another 12,000 protesters joined a rally in Greece’s second-largest city, Thessaloniki.  The Greek government called out 6,000 cops to handle the protests.

Thousands of Italians also took to their streets, to protest their new non-elected technocrat controlled government’s draconian budget cuts.  Italian college students tried to use firecrackers as weapons against the cops.

Transportation unions shut down Italian public transportation services for several hours.

 

Business/Economics, U.S.

What Economic Recovery? Citigroup to layoff 3,000

The New York Times, and the Wall Street Journal, have been reporting that an unnamed source says Citigroup will layoff 3,000 employees.

Some employees have already been notified.

900 layoffs will take place in the banking and securities divisions.  The unnamed source says the number of laid off Citi workers could exceed 3,000 by next year.

 

Business/Economics, U.S.

Occupy America! 07:00 hours, November 17, Wall Street will be attacked by thousands of protestors

“Enough of this economy that exploits and divides us. It’s time we put an end to Wall Street’s reign of terror and begin building an economy that works for all.”-occupywallst.org

At 07:00 hours, New York time, on November 17 the OWS movement claims they will launch a human wave attack on Wall Street.

Organizers say events will take place in Europe as well, it’s being called “International Day of Action”.

Despite some U.S. media reports calling an end to the OWS movement, after a weekend of brutal police crack downs across the country, it’s clear the OWS movement is alive and well.

New York City officials say they’re ready: “Our plan is to be prepared. Our goal is to ensure this city continues to run.”-Cas Holloway, Deputy Mayor  

 

Business/Economics, U.S.

Occupy America! New study shows U.S. Middle Class shrinking fast, the 99 percenters are right!

A Stanford University study has researchers shocked at how fast the middle class is disappearing in the United States: “We already kind of knew that segregation by income had been going up from 1970 to 2000, though I was struck by the magnitude of that increase. One of the striking findings in the report is that in 90% of metropolitan areas, income segregation went up in the 2000s.”- Sean Reardon, Professor

The number of families living in middle income neighborhoods dropped to 44% in 2007, down from 65% in 1970.  The study looked at 2007 U.S. Census Bureau data covering 117 metropolitan areas.

The Stanford study also found what many economists, the IRS, and the Occupy Wall Streeters have been saying; fewer people are getting most of the money: “Given that in 2008 the top 10% of earners controlled approximately 48% of all income in the United States, the increasing isolation of the affluent from the low and moderate income families means that a significant portion of society’s resources are concentrated in a smaller and smaller portion of neighborhoods.”

Analysts say that it’s a good bet that Census Bureau data from 2008 to present would should an even bigger decline in the middle class.

 

Fukushima

Government & Corporate Incompetence: More Rice contaminated with Cesium!

The Fukushima Prefectural government says rice from a field in the Oonami district, in Fukushima City, are contaminated with 630 becquerels per kilogram of cesium.

The rice came from one farm.  There are 154 farms in the Oonami district in Fukushima City, they will now test all the farms.

Officials claim the contaminated rice is still in the warehouse and none was shipped to market.

Until now most contaminated rice, in Japan, was just under the government limit of 500 becquerels per kilogram of cesium.  This is the first time rice was found over the limit, and national government officials are now considering banning the sale of rice which comes from Oonami district.

Business/Economics, International, U.S.

What Economic Recovery: WalMart profits down, again, don’t blame the U.S. consumer, blame inflation

WalMart Stores Inc., the world’s largest retailer, saw its 3rd quarter profits fall below what they expected.  They blame price cutting in an effort to boost overall sales.

WalMart says that compared to the same time last year (3rd quarter, ending October 31), their net income was down 2.9%.  The lower prices did increase overall sales, by 8.2%, but WalMart had cut their prices below what it was actually costing them, which explains the drop in net income.

WalMart officials claim they will continue to keep prices low, despite their suppliers raising their prices (inflation).  They also admit they expect their 4th quarter net revenues to be down as a result, Merry X-mas!

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

End of Lawsuit may re-invigorate Idaho’s Micron, gets big boost from George Soros, rumors of insider trading

Finally, after more than a year (the last 8 weeks in deliberations), a California jury has decided in Micron’s favor, ending the possibility of Micron having to pay $11.9 billion in restitution.

A California company was suing Idaho’s Micron, along with a South Korean company, claiming they worked together (colluded) to fix computer chip prices, and to interfere with the California company’s ties with Intel.

Since 2009 Micron has fallen from being Idaho’s top employer, after laying off thousands of employees. If they had lost the lawsuit it would have been their death blow.

Even before the verdict the value of Micron stock started going up (possibly due to George Soros).  Bloomberg News reported that Micron stocks are making “unusual moves” upward.

A big reason Micron stock is going up is that billionaire investor, George Soros, recently bought up 484.5 million senior convertible Micron Technology securities, valued at $$477.6 million!  Maybe a positive turnaround for Idaho’s Micron is finally in the works?

Here’s the problem: George Soros started buying up Micron stock days before the California jury made their decision.  This is now starting rumors of insider trading.  But it’ll be tough to prove, after all, how could anyone know what a jury is going to decide, right?  Oh well, it’s happened before.

Fukushima

Government & Corporate Incompetence: Radiation levels increasing in Japanese Rivers!

Japan’s Environment Ministry reports that radiation levels in rivers, downstream of the radiation spewing Fukushima Daiichi, are only increasing.

The latest official readings come from samples taken back in September.

In northern Fukushima Prefecture, the cesium levels were 3,200 becquerels per kilogram in the upstream Niida River.  The cesium levels in the downstream side of the same river were 13,000 becquerels!  That’s triple the levels reported in May!

Cesium levels in the Mano River have doubled!

Kinki University Professor Yamazaki Hideo says the government should step up radiation monitoring in all rivers.