Tag Archives: ows

Business/Economics, Idaho, U.S.

Idaho’s Coldwater Creek loses a VP, Judge tells former employee to expect more prison time, makes store closings watch list

A 1st District Judge in Idaho, has refused to accept terms of a plea agreement.

The case involves a former executive assistant at Coldwater Creek.  She pled guilty in exchange for paying $251,943 in restitution, a suspended three to 10 year prison sentence, and 90 days in county jail.

She is accused of racking up hundreds of thousands of dollars in fraudulent personal expenses at Coldwater Creek, and taking money from a non-profit group involved in education.

The judge said he didn’t like the 90 day county jail time deal, because there are other cases of fraud, in Idaho, in which the defendants took much less money, and spent much more time in county jail, after making a plea deal.

Also, Overstock.com has hired away Coldwater Creek’s vice president of marketing.

Timothy Dilworth worked for Coldwater Creek since 2000.  But is Overstock.com getting a good executive?  After all, hasn’t Coldwater Creek been losing sales for the past several years?

According to Internet Retailer, out of the top 500 U.S. retail companies Coldwater Creek ranks 93rd (not to bad, if that’s 93rd from the top).

Towards the end of March, Coldwater Creek stocks led a small rally in the retail sector. This was due to a smaller net loss than expected.  However, their sales were less than expected as well.  Coldwater Creek stock is now trading for just over one dollar per share.

A Florida based group called Turnaround Management Association, listed Coldwater Creek as one of dozens of troubled U.S. retailers to watch for store closings, right along with Sears.

Turnaround Management Association specializes in distressed debt, liquidations and bankruptcy proceedings concerning retail companies.

International

One Year Later: 1.5 million tons of tsunami flotsam still heading for North America, USCG sinks Japanese fishing boat

The U.S. Coast Guard took advantage of a Japanese tsunami ghost ship to get some target practice in.

Pictures show the fishing trawler pock marked with holes after being hit by cannon fire.  The USCG declared it a shipping hazard.

This is just the beginning wave of flotsam from March 11, 2011’s major tsunami that hit Japan.  An estimated 1.5 million tons of houses, boats, cars, bodies and other debris are slowly making their way to North America.

Some analysts from Kyoto University think 90% will hit the North American coast line by October 2012.  More than 40 thousand tons will arrive by February 2013.

Of course it all depends on the ocean currents, winds and storms.

 

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

One Year Later: More radioactive shrooms, shoots & beef

Not even a week after Japan set tougher limits on radioactive cesium in food, but more mushroom farms are found to be contaminated.

In a town 300 kilometers (186.4 miles) from Fukishima Daiichi, a farm in Kanagawa Prefecture discovered their mushrooms contain 141 becquerels of radioactive cesium per kilogram.

The new safe limits are 100 becquerels (prior to that the government was allowing food with 500 becquerels to be sold!).

Bamboo shoot farms in Chiba Prefecture have also turned up contaminated.

Ibaraki Prefecture also reporting that bamboo shoots and shiitake mushrooms are contaminated.

In Gunma Prefecture, beef is contaminated with 106 becquerels of radioactive cesium, although the new safe limits for beef don’t go into effect until October!  Gunma officials say they are still asking cattle ranchers not to ship the beef.

ONE YEAR LATER: SOME FUKUSHIMA FARM ANIMALS WILL BE ALLOWED TO LIVE

Business/Economics, Technology, U.S.

Government & Corporate Incompetence: USGS says 6 fold increase in U.S. earthquakes caused by Oil Industry! California watch out!

“A remarkable increase in the rate of M 3 and greater earthquakes is currently in progress in the U.S. midcontinent. The average number of M >= 3 earthquakes/year increased starting in 2001, culminating in a six-fold increase over 20th century levels in 2011.”-USGS study, Are Seismicity Rate Changes in the Midcontinent Natural or Manmade?

Around the beginning of January 2012, officials from the U.S. Geological Survey testified to Ohio state officials, that the fracking going on in their state was the cause of a sudden string of earthquakes.

In July 2011, the state of Arkansas banned fracking for the same reasons.

Now a new study by USGS geologists, published by Seismological Society of America (SSA), confirms that “…the seismicity rate changes described here are almost certainly manmade…”, due to “…oil and gas production.”

The study will be discussed in more detail at a meeting from April 17-19.

USGS scientists point out that the area of increased quake activity is not normal for that part of the United States: “A naturally-occurring rate change of this magnitude is unprecedented outside of volcanic settings or in the absence of a main shock, of which there were neither in this region.”

The abstract details of the study also say: “The modest increase that began in 2001 is due to increased seismicity in the coal bed methane field of the Raton Basin along the Colorado-New Mexico border west of Trinidad, CO. The acceleration in activity that began in 2009 appears to involve a combination of source regions of oil and gas production, including the Guy, Arkansas region, and in central and southern Oklahoma.”

But this is not the only recent study published by the SSA to link oil production with earthquakes. Another report linked the April 2010 Alice, Texas earthquake to oil production in the Stratton field: “We conclude it is plausible, although not proven definitively, that production in the Stratton field contributed to the occurrence of the 2010 Alice earthquake and an earlier similar earthquake that occurred on 24 March 1997.”

So far most of the quakes are taking place in areas that don’t normally have much seismic activity, but California has plenty of earthquakes, and there’s a lot of oil and gas drilling, including fracking, going on there!

“On the one hand, the Division [California agency regulating petroleum industry] remains in denial about fracking for oil. On the other hand, they ask for and receive funding to regulate it and then don’t do it, and have no plans to do it [‘it’ as in ‘regulate’].”-Bill Allayaud, Environmental Working Group

International, U.S.

World War 3: Mujahideen Spring Offensive April 7, 2012

Three Afghan army soldiers were wounded in Helmand Province, while conducting seek and destroy operations.

Afghan army and police claim to have killed dozens of Mujahideen in battles, as well as captured anti-government militants and weapons, in the past 24 hours.  The battles took place in the following provinces: Gahzni, Nangarhar, Badakhshan, Kandahar, Kunar, Helmand, Nanagahar, Paktia and Zabul.

Three private security guards were killed, one wounded, when their vehicle hit a mine in Khost Province.

Two Afghan cops were wounded after a bomb went off in Gardez city, in Paktia Province.

Two civilians were killed, and four wounded, after a battle between Afghan government forces and Mujahideen in Kapisa Province.

In Faryab Province more Uzbekistani Mujahideen were capture and killed.  International Security Assistance Force (ISAF) says they are part of the Islamic Movement of Uzbekistan.  They are calling those captured “facilitators”, meaning they might not be part of the organization, but are helping them in some way (money, guns, ammo, food).

ISAF says there was a firefight, in which several Uzbek militants were killed.

ISAF and Afghan forces conducted several operations to capture Mujahideen “leaders” in Kandahar and Khost provinces. ISAF did not say if they were successful.

 

 

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

What Economic Recovery? Good and Bad news for Idaho’s Hoku Materials

On March 22, 2012, Hoku Solar (a subsidiary of Hoku Corporation, in turn majority owned by China’s Tianwei New Energy) was selected to build a 7.2 megawatt solar farm in Kaua’i, Hawaii.

In December 2011, Hoku Solar actually delivered a 1.18 megawatt solar energy facility, the largest solar power plant in O’ahu, Hawaii.

After the announcement of the 7.2 megawatt solar farm contract, Hoku Corp stock went up 11%.

Now the bad news, another subsidiary of Hoku Corporation, Hoku Materials, is getting hit again by the construction contractor in charge of completing the southeastern Idaho polysilicon factory.

There are reports that once again Hoku has not fully paid its contractor JH Kelly.  This has happened before, and is part of the main cause for many construction delays in the past.  JH Kelly officials say they are taking “action” against Hoku.

Hoku Materials has also played the same game with electricity supplier Idaho Power.  Their latest battle was settled by an Idaho Public Utilities Commission (IPUC) decision.

According to an 15 March 2012 IPUC statement, Hoku got a new electricity contract which: “… reduces Hoku’s monthly minimum payment to about $800,000 for up to 18 months through June 2013.  To protect customers and the company from the lost revenue from the lower minimum payment, Hoku will reimburse the difference between the current and the revised minimum charge in payments spread through November 2014, plus 6 percent interest.  Hoku will also make an initial payment of $3.8 million, with $2 million of that coming from a $4 million deposit already provided by Hoku. The remaining $1.8 million will be paid over the next 18 months at $100,000 per month.  Hoku must give Idaho Power 30 days’ notice when it plans to exceed 10 MW and six-months’ notice when it plans to exceed 20 MW.”  

HOKU MATERIALS’ CUSTOMERS WHO ‘PREPAID’ ARE GETTING IMPATIENT!

International, U.S.

World War 3: More Afghan police killed, Afghan government raid results in civilians being killed

April 6, 2012, in Kandahar Province four Afghan cops were killed in separate incidents.

One was shot, another was killed trying to defuse a bomb, and two others were killed when their vehicle hit a mine.

In Kapisa Province, Afghan government forces attacked a Mujahideen position.  According to Abdul Hakim Akhundzadeh, governor of Tagab district, a rocket then hit an area where government forces were conducting seek and destroy operations, in the Matkhel area of the province.

The resulting explosion killed two civilians and wounded four others.

International, U.S.

World War 3: NATO copter shot down, U.S. drone crashes, U.S. led troops killed, more assassinations, Australian General backs up U.S. General’s claim that this is a “critical year”

An ISAF report says: “An International Security Assistance Force rotary wing [helicopter] unmanned aerial vehicle crashed in northern Afghanistan today.”  ISAF does not believe it was shot down.  No further details.

Some speculate that since the drone was a helicopter that it might be what witnesses are calling a NATO helicopter crash, in Baghlan Province.  The province is under the control of Hungarian NATO forces.  No further details.

Also, ISAF confirms reports that U.S. led troops have been attacked and killed. As is SOP with ISAF they will not give out details, other than the attack took place in eastern Afghanistan on April 6.

ISAF says the current death toll for U.S./NATO/ISAF troops is at 104 since the beginning of this year.

On the morning of April 6, 2012, a peace negotiator and one of his sons were assassinated when a bomb exploded. A third person was also killed.  The explosion happened after Islamic Friday Prayers.  It happened in Kunar Province.

Major-General Stuart Smith, Commander of Australian Operations in the Middle East and Afghanistan, re-stated what USMC General John R. Allen said recently: ”This is a critical year.”

Australian forces are beginning to hand over control of AOs (Areas of Operation) to Afghan government forces. Currently Australian forces operate in Oruzgan Province (aka Urōzgān, Uruzgan or Rōzgān): ”This is a year that, if the Afghan government asks us to, we will start the transition of handing over security responsibilities in Oruzgan to the Afghan Security Forces.”

However, General Smith made it clear that such hand over to Afghan government forces did not mean Western forces were leaving: “….that challenge will go on for a little while yet, beyond 2014.”

 

 

 

Fukushima

One Year Later: Japanese government makes it official, permanent no go radiation zones!

Just two days ago the Japanese Reconstruction Minister made an unofficial announcement; there could be indefinite radiation no go zones around Fukushima Daiichi.

Today, April 6, 2012, Hirano Tatsuo made the official announcement.

Some areas will be off limits indefinitely, others could be 10 to 20 years.  Officials from towns located next to the nuclear disaster reactors agree, however residents are pissed.

One 63 year old man said living as a refugee sucks! He wants to return to his home, which is just 4 kilometers (2.5 miles) from the nuclear plant.

Those areas outside the no go zones will be re-zoned to allow gradual staged return of residents.

Business/Economics, International

What Economic Recovery? Airline pilot? Need a job? Japan needs you!

In yet another sign of population exodus from Japan, the Japanese airline industry is suffering a shortage of airline pilots, and demands for flights are increasing.

As a result the Japanese Transport Ministry will allow planes to be flown by a pilot and a co-pilot who are both older than 60 years.

In 2004 Japan allowed commercial airline pilots to be older than 60 years of age, but co-pilots had to younger than 60.

It’s hoped by allowing older flight crews it will help the Japanese airline industry meet growing demand for flights.  But, if you can speak Japanese they’re hiring.