Tag Archives: idaho

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, 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, Idaho, U.S.

Idaho’s Republican governor pays his female officials less than his male officials, much less

Governor Butch Otter pays the females in his administration an average of $20,000 less than his male administrators.

“Director Gould is about $38,000 under the newly employed Jeff Sayer. You can’t argue she doesn’t have as many employees. Our state is no different than the national averages that show women reach a ‘glass ceiling’ for promotion and pay.”-Representative Wendy Jaquet of Ketchum

Idaho Agriculture Director, Celia Gould, has worked for Butch Otter since 2007.  She’s paid $106,621 per year.   Jeffrey Sayer, Commerce Director (running a smaller agency), has worked for Butch Otter since October 2011, yet he gets paid $145,018 per year.

The median salary for females in Butch Otter’s cabinet is $85,446.  The median salary for males is $103,002.

Oh, but Idaho is a Right to Work state.

Business/Economics, Technology, U.S.

Government Incompetence: Pocatello, Idaho, doctor & ISU faculty member failed at autopsies

The Idaho Board of Medicine is investigating complaints that Steve M. Skoumal screwed up at least ten autopsies. It was brought to the attention of the Board mainly because the local  police questioned the results.

In one case Skoumal, a faculty member at Idaho State University in Pocatello (in Bannock County), ruled three deaths were caused by carbon monoxide poisoning.  But, local Rexburg police (in Madison County) said that didn’t match with x-rays, or the fact a recently fired gun was found at the scene, or the fact that there were bullet holes in the victims.

Supporters of Skoumal say the police are just upset because he didn’t give them the answer they wanted to hear.

But this case brings up a good point; Idaho does not have standardized, dedicated, official local government coroner services.  In many cases families of the deceased have to pay for a pathologist to conduct an autopsy, as one Pocatello doctor/lawyer said: “…people who brought the bodies have to pay for the doctor to do more autopsy or less autopsy.”-Richard Hearns

There is a state code concerning coroners, but in some Idaho counties coroners are elected.  In other counties they are hired from local doctors.  Officials say the tax revenues are not enough to support a dedicated 24/7 coroner (although taxes are pretty high here).

Skoumal is connected to three high profile cases in eastern and southeastern Idaho: Unsolved Madison County deaths, the death of a Bingham County woman whose granddaughter was prosecuted for homicide, and the 2006 murder of Pocatello High School student Cassie Jo Stoddart (fortunate the murderers incriminated themselves with their own video).

Skoumal is accused of misreading toxicology reports, being unable to determine knife wounds and bullet wounds.  One of the complaints filed with the Board of Medicine accused him of not being a pathologist, he admitted he was not a certified pathologist.

It could be another year before the Idaho Board of Medicine holds an Administrative Hearing regarding the complaints.

 

 

 

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

What Economic Recovery? Idaho’s Hoku Materials loses $28 million, blames Idaho Power. Takes on 19 new loans to continue operation, beggars China for more money!

On March 5, 2012, Hoku International released its Quarterly 10-Q Report, ending December 2011.

Specifically their Pocatello, Idaho, Hoku Materials polysilicon operations (which has yet to actually begin operations) lost $28.4 million in the nine months ending on December 31, 2011.

Their 10-Q report blames part of the loss on Idaho Power’s electricity bills.  Idaho Power has reported that Hoku has consistently failed to pay their electric bill on time (actually in advance, under Idaho Power’s rules for large businesses)!

Hoku’s March 5, 2012, 10-Q report also revealed that they’ve had to “…obtained an aggregate of $315.5 million of debt financing through 19 bank credit agreements to support our operations.”  

That was as of December 31, 2011.  Hoku has also revealed that they’ve had to beg China for more money: “In January 2012, we entered into a credit agreement with Industrial and Commercial Bank of China, Limited, New York Branch to provide for one or more term loans in an aggregate principal amount not to exceed $10.0 million. And in February 2012, we entered into a credit agreement with China Merchants Bank Co., Ltd., New York Branch to provide for a loan in an aggregate principal amount of $10 million.”

AS I WARNED: IDAHO HOKU SILICON FACTORY GOING UNDER, ANNOUNCING LAYOFFS, VIOLATED STOCK MARKET TRADING RULES

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

What Economic Recovery? As I warned; Idaho Hoku silicon factory going under, announcing layoffs, violated stock market trading rules

March 6, 2012, Hoku International announced they will layoff about 20 employees at their Pocatello, polysilicon plant.

This comes after many delays in finishing the factory, and threats by Idaho Power to cut off electricity because Hoku hasn’t been paying its utility bill.  Also, Hoku lost big money in 2011.

Officials with Hoku said the layoffs are necessary to keep the company going.

On February 23, 2012, Hoku International was notified that trading of its stocks were suspended, for violating NASDAQ’s Listing Rule 5250(c)(1).  On March 5 (the day before the layoff announcement) Hoku claimed they were now in compliance with NASDAQ’s rules.

CORPORATE INCOMPETENCE: HOKU MATERIALS BEGS FOR MONEY TO PAY ITS OVERDUE IDAHO POWER BILL

Business/Economics, Idaho, U.S.

What Economic Recovery? Sears to sell off stores to GGP. GGP owns most of the malls in Idaho. Sears loses $3 billion in 2011

On February 23, 2012, Sears Holdings announced that they will sell off eleven stores to major mall owner General Growth Properties (GGP).

sears chubbuck

Sears at the struggling Pine Ridge Mall in Chubbuck, Idaho

GGP owns most of the malls in Idaho (Idaho Falls, Boise, Chubbuck and Coeur D’Alene), and they have Sears stores, but, none of the eleven to be sold off are in Idaho.  This means that it’s possible they might make the next round of closings.

The eleven stores to be sold to GGP (for a total of $270 million, to be finalized in April 2012) include one in Hawaii, two in Utah, two in Iowa, one in Washington, one in Texas, one in Illinois, one in Oklahoma, one in Florida and one in Michigan.

Also on February 23, Sears Holdings reported a net loss of $3.1 billion for the year 2011!

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

What Economic Recovery? Idaho will lose hoped for Nuclear Industry jobs, Areva loses $3.2 billion!

French nuclear industry giant, Areva, announced record losses on March 2, 2012.  They lost U.S.$3.2 billion!!!

The loss is directly tied to it’s incompetent African uranium mining operation (which looks like they bought a pig in a poke).  The French government is investigating, because Areva is actually a French government corporation, and they used taxpayer money to buy the pig in a poke mine!

Also, since the March 11, 2011, nuclear disaster in Japan, which has resulted in about 90% of their nuclear plants shut down, orders for fuel rods made by Areva have crashed!

Also, Germany’s decision to end the use of nuclear power plants will result in 1,500 Areva employees losing their jobs in that country.

On February 28, 2012, Areva announced it was “indefinitely” suspending its planned uranium enrichment project in Eastern Idaho.  Its called the Eagle Rock project.  Local contractors were notified in writing about the suspension.

Areva is trying to get money from the U.S. government. They were trying for at least $3 billion, but now, with such huge losses that won’t be enough!

Eastern Idaho is desperate for good paying jobs, and a lot of hopes were riding on the Eagle Rock project.

 

 

Business/Economics, U.S.

What Economic Recovery? Yet another airline ends service in Idaho

Frontier Airlines has ended its Boise to Denver route.  In the past two years the airline temporarily stopped service due to a seasonal drop in passengers, but they officially announced they will not restart service, for 2012.

For the past two years, the seasonal drop in business happens in winter, and Frontier restarts flights in April.  Passenger numbers have been steadily dropping since 2007, and Frontier decided it wasn’t worth it to restart the Boise-Denver route for 2012.

Back in December, 2011, SeaPort Airlines announced they were ending their Idaho Falls-Boise route.  Not enough sales were the official reason.  That claim was news to Idaho Falls airport airlines director Len Nelson, who said: “We were really, really disappointed to see them leave. We were just starting to fill the airplanes up. Out of nine seats, we were filling it a lot of times, and averaging five, six passengers a flight.” Nelson’s reasoning is out of touch.  Filling five to six seats, out of nine, is not enough for an airline to justify the route.

Idaho, U.S.

Government Incompetence: Republican state Senator in Idaho resigns, sex scandal, grand theft auto, intoxicated

On February 22, 2012, John McGee resigned his job as Idaho Senator, from Caldwell.  He is facing an investigation for sexual harassment.

This is not the first time Republican McGee has made news in Idaho.  Recently the Associated Press revealed McGee was sleeping in his parents Boise home, while collecting tax payer funded per diem for staying in a hotel.

In 2011 McGee was arrested and charged with grand theft auto and intoxicated driving.

Regarding the current sex scandal investigation; it was the Idaho Senate President Pro Tem (who is also a Republican) that OKed the investigation, after a strong recommendation by the State Attorney General.