Tag Archives: ows

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

Black Horse & Fuel Prices: United Kingdom to see record Diesel prices, not because of Iran oil embargo but because one of their refineries went bust!

…there before me was a black horse! Its rider was holding a pair of scales in his hand. Then I heard what sounded like a voice among the four living creatures, saying, “A quart of wheat for a day’s wages, and three quarts of barley for a day’s wages, and do not damage the oil and the wine!”

The International Monetary Fund (IMF) recently warned that a successful oil embargo against Iran could cause oil prices to jump by at least 30%.  But already Britons are being hit with record fuel prices, as fuel stations are running dry because a major oil refiner went bankrupt and stopped shipping out fuel!

In February, 2011, gasoline (petrol) prices in Britain hit at least $9.67 per gallon.  British media now reporting that diesel prices could pass 1.45 pounds per liter (that’s U.S.$8.60 per gallon), with the average diesel car, not truck, driver paying more than $156.00 for a fill up!

Back in 2010, diesel cars became the most popular vehicles in Britain, because diesel fuel was a little cheaper, per gallon, than gas. I say was, because in May, 2011, diesel fuel prices in the U.K. finally went higher than petrol.

Now, the giant Coryton fuel refinery in Essex, England, stopped fuel shipments on January 24, 2012.  Coryton’s Swiss parent company Petroplus filed for bankruptcy, as they fell victim to the ongoing credit crisis in Europe (you see capitalist corporations don’t operate with cash, they operate on loans, just like Mitt Romney).  13 banks, including Morgan Stanley, Deutsche Bank and BNP Paribas, froze Petroplus’s credit accounts (can someone please freeze the credit accounts of our capitalist leaders here in the U.S.?).

But just because they stopped shipping out fuel doesn’t mean they’re not making it.  In fact Coryton officials admit they’re now hording all the fuel they make: “Our immediate priority is to continue to operate the Coryton refinery and the Teesside oil storage business without disruption while the financial position is clarified and restructuring options are explored.”–Steven Pearson, joint administrator

Now throw in the fact that fuel tanker drivers are on strike at another British refinery.  That strike is blocking supplies from getting to 340 fuel stations in Britain.  By January 26, 2012, filling stations in Britain began reporting they were out of fuel, after customers rushed to fill their cars when news of the fuel supply stoppage was heard.

“There is no doubt the loss of supplies from a major U.K. refinery, plus the problems in Iran, is going to give the speculators a field day. When they speculate, the only way is up as far as  fuel prices are concerned. Motorists are going to have to get used to seeing prices creeping up.”–Edmund King, The Automobile Association

 

 

 

Business/Economics

Black Horse & Morgan Stanley: Cuts employee pay 30%, claims profits are down, gets hit with billion dollar lawsuits, then hires ex Merrill Lynch team. If you’re not a shareholder, you are a nobody!!!

…there before me was a black horse! Its rider was holding a pair of scales in his hand. Then I heard what sounded like a voice among the four living creatures, saying, “A quart of wheat for a day’s wages, and three quarts of barley for a day’s wages, and do not damage the oil and the wine!”

“You’re naive, read the newspaper, number one. Number two, if you put your compensation in a one year context to define your overall level of happiness, you have a problem which is much bigger than the job. And number three, if you’re really unhappy, just leave. I mean, life’s too short.”-James Gorman, CEO of Morgan Stanley, telling employees who’re not happy with pay cuts to go home

Bloomberg reporting that Morgan Stanely is cutting employee pay by as much as 30%, as well as capping bonuses.  Is it because profits are down? Well they are down, but they still made a profit of $4.11 billion in 2011!

Oh, and CEO James Gorman got a 25% cut in pay.  He made only $10.5 million in 2011!  Is it because they’re being sued by two major banks over the home foreclosure fiasco? A German bank, and a French/Belgian bank, are suing for $1.2 billion, because they claim Morgan Stanley sold them bad mortgage investments between 2006 and 2007.

Officials with Morgan Stanley are not commenting on the lawsuit, they claim they don’t know anything about it (at this point).

But if Morgan Stanley is hurting for cash, why did they hire an ex team of ‘advisers’ from Merrill Lynch, for who knows how much?  It’s claimed Philip Ressa and Justin Cho made Merrill Lynch $2.1 million last year.

I think CEO James Gorman revealed the real reason for cutting pay and bonuses when, at the end of a statement to Bloomberg media, he said “…we have to respect the fact that shareholders have to get paid…”

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

Black Horse & Apple computers: Apple rakes in huge profits, thanks to slave wage labor! Apple’s China factory installs anti-jumping nets to keep workers from leaping to their deaths. Idaho, Ohio, Michigan & Pennsylvania Republicans hoping China will build similar slave cities in the U.S.

…there before me was a black horse! Its rider was holding a pair of scales in his hand. Then I heard what sounded like a voice among the four living creatures, saying, “A quart of wheat for a day’s wages, and three quarts of barley for a day’s wages, and do not damage the oil and the wine!”

January 26, 2012

Apple reported their 2011 fourth quarter profits at a record $13.06 billion!  That would be fine if it wasn’t for the fact that Chinese workers are being pushed so hard to make Apple products that they’re literally going over the edge to their deaths!

I love my Apple computer (it’s lasted longer than any other computer I’ve had, and with far less glitches), but, one of the factors in me buying an Apple was that I thought they were made in the U.S.  Apparently after (evil) Bill Gates became a major investor in Apple, production was shipped overseas.

Around the time Apple was reporting their record profits, Chinese media was reporting on a factory that made Apple products.  Turns out the workers there threatened suicide because of slave labor conditions.

It’s so bad that a Catholic Online article says Chinese factories are spending money to put up nets around their buildings, to keep workers from jumping to their deaths.

You see, working in Chinese factories is not like working in a U.S. factory (not yet anyway): “Chinese factories are self-contained cities with workers living side-by-side in dorms. Workers spend an average of 10-12 hours per day working, six days a week.” Also: “…life in a Chinese factory is unpleasant, boring, repetitive, and workers have little to no privacy, and few rights-if any. The food is nothing to write home about either. Employers can set workers to task at any hour, force them into overtime, and arbitrarily fire them if desired. It’s as near to slavery as one can get without the chains.” -Catholic Online

When I realize how much I paid for my Mac (more than double what I was paying for cheapo IBM types) it sickens me to know that it could have been made by wage slaves!  I thought one of the reasons for the higher price was that I was supporting U.S. jobs!

This month Apple’s contracted factory in China, run by a company called Foxconn, reported that workers threatened to commit mass suicide.  To give you an example of the crowded working conditions, Foxconn admits they have at least 32,000 workers living on their factory ‘campus’!  That’s not a factory, it’s a self contained slave city!!!

But guess what? The state government of Idaho has been toying with Chinese contractors to build such a slave city right here in Idaho, U.S.A.  They call it an “industrial complex”.

In 2010, the Idaho Statesman reported that state officials were working on a project that would allow the China National Machinery Industry Corporation (aka SINOMACH) to build huge a slave labor camp south of Boise.  It could cover up to 30,000 acres, and is “…based on a concept popular in China today…”.

That camp would include retail shops and homes for workers, and some reports say the ’employees’ will come from China.

SINOMACH also got involved with a fertilizer project near American Falls, but since then all has gone quite on that project.

Lobbyists working for the Chinese say Idaho Republican leaders are great to work with: “One thing these Chinese see is we have a governor here who has a great big open door policy, and I think that’s making a difference in this SINOMACH project.”-Pat Sullivan, lobbyist

The Idaho Republican’s open door policy for China is part of their Project 60 Foreign Direct Investment (FDI) plan.

Idaho Republican leaders love China: “Idaho’s the last state that should say we don’t want to do business with Asia. Asia’s where the money is.”-Brad Little, Idaho Lieutenant Governor

I’ve also reported on how most of Idaho’s Republican politicians are in the pockets of for profit prison labor operations.

SINOMACH is also dealing with officials in Ohio, Michigan (is there a connection to the union busting going on in that state?) and Pennsylvania.

Also this month, SINOMACH announced they will increase their efforts to set up operations in other countries: “We encourage our subsidiaries, including scientific institutions and design, construction and industrial equipment manufacturing companies, to go overseas and explore and develop new services and markets.”: Ren Hongbin, chairman of SINOMACH

SINOMACH (short for Sino Machinery) reported a revenue increase of 17% in 2011, for a total of $30 billion.  I wounder how much was from cutting costs with slave labor?

 

Business/Economics, International, U.S.

What Economic Recovery? Nissan to build new factory, make 1 million cars, but not in or for the U.S. Honda & Mazda to follow suit

Nissan announced they will spend $2 billion to build yet another factory, in Mexico.  They already have two factories in Mexico.  With three factories they hope to push out one million cars every year.  But guess what?  Those cars are not for sale in the United States.

Nissan is selling the cars in the newly created CELAC (new united South America).  The United States is no longer the worlds car selling market, South America is!

Nissan is already pushing out one million cars per year in Japan and China (again cars not for sale in the U.S.).  Honda and Mazda also announced plans to increase production for the CELAC market.

Business/Economics, Idaho, U.S.

What Economic Recovery? Idaho’s Coldwater Creek creeps further down the drain, drop in end of year Holiday sales

Coldwater Creek executives admitted that their fourth quarter loses will be more than first thought.  At their third quarter reporting, back in November, 2011, they expected loses to continue into their fourth quarter.

Coldwater Creek has had at least five straight quarters of loses.

CEO Dennis Pence said same store sales between November and the end of December were down 9%, compared to the same time the previous year.  To show you how bad things are for the clothing retailer, Pence said the 9% drop in sales was actually an improvement!

Fourth quarter results for Coldwater Creek will be reported in March, 2012.

In the corporate world there is no standardized quarterly system, each company keeps its own quarterly reporting calender, so some companies’ quarters begin and end in the middle of a calendar year (and they don’t match up to the Federal government’s fiscal quarters either).

 

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

Black Horse & What Economic Recovery? Texas Instruments shutting down decades old factories, thousands to lose jobs, despite $298 million profit at the end of 2011!

…there before me was a black horse! Its rider was holding a pair of scales in his hand. Then I heard what sounded like a voice among the four living creatures, saying, “A quart of wheat for a day’s wages, and three quarts of barley for a day’s wages, and do not damage the oil and the wine!”

Long time electronics manufacturer, Texas Instruments, will close two factories, one in Japan, the other in Texas.

Both factories are more than 30 years old, and Ti says it will be too costly to upgrade them, so instead they’ll shut ’em down and lay off thousands of employees in Japan and the U.S.

Ti also blames a drop in sales, and a 68% drop in profits. However, even with that 68% drop in profits, Ti still reported a $298 million profit from October to December 2011!

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

World War 3 & Government Hypocricy: BP to be exempt from Iran oil embargo, proof the U.S. is controled by the British Empire

There are reports that say British Petroleum (BP) is to be exempted from the U.S. and EU oil embargoes.  It was part of the deal to get the European Union to impose sanctions against Iran.

BP was born out of the old British controlled Anglo-Iranian Oil Company. Despite the decades of sanctions against Iran (since the early 1980s) BP has still managed to do business with Iran.

BP, and a Norwegian company (Statoil), are currently running a natural gas operation in the Caspian Sea in co-operation with Iran, called Shah Deniz.  But back in the United Kingdom, sanctions forced BP to shut down a North Sea gas operation, because it was 50% owned by Iran!

British officials do not want anymore halts to BP operations, so they lobbied hard with the United States to get BP exempt from any European/U.S. oil embargo.

 

International, U.S.

Red Horse & World War 3: Western Warmongering media getting all hot & bothered about U.S. aircraft carrier entering Persian Gulf

Then another horse came out, a fiery red one. Its rider was given power to take peace from the earth and to make men slay each other.

The aircraft carrier USS Abraham Lincoln has sailed through the Strait of Hormuz, on its way home.  The aircraft carrier USS Enterprise is on its way to the Persian Gulf, through the Strait of Hormuz.

Western media, and U.S. officials are trying to make this look like tough action after Iran made threats against a U.S. Navy ship a couple of weeks ago.  But that’s just it, they made threats against one specific U.S. Navy ship, not the entire U.S. Navy!

Iran said back at the beginning of January that the USS John C. Stennis will not be allowed to return to the Persian Gulf.  The threat was not made against any other U.S. ship!

In fact the Iranians have responded to the western media’s brewhahaing about the movement of U.S. aircraft carriers through the Strait thusly:  “U.S. warships and military forces have been in the Persian Gulf, and the Middle East region for many years, and their decision in relation to the dispatch of a new warship is not a new issue and it should be interpreted as part of their permanent presence.”-Hossein Salami, IRGC

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

White Horse & World War 3: European Union approves oil embargo on Iran, Libya part of plan to go after Iran

I looked, and there before me was a white horse! Its rider held a bow, and he was given a crown, and he rode out as a conqueror bent on conquest.

EU ambassadors have agreed upon an oil embargo against Iran, it must now be approved by EU foreign ministers.  The sanctions would ban the buying of Iranian petroleum products, and would halt all imports to EU members by July 1, 2012.

This follows new U.S. sanctions imposed at the beginning of January, 2012.  Taken together, the U.S. and EU oil embargoes could halt 2.6 million barrels of oil, driving oil prices up and adding to the overall instability of the world economy.

You’d think the Europeans would not want to do anything to stop Iranian oil, after all most of Iran’s oil goes to Europe.  But maybe that’s why the EU (with help from the U.S.) took over Libya’s oil in the fake revolution supported by NATO.  Now they can go after Iran without too much worry about oil supply.

International, Technology

Pale Green Horse: India reporting new strain of H5N1

I looked and there before me was a pale horse! Its rider was named Death, and Hades was following close behind him.  They were given power over a fourth of the earth to kill by sword, famine and plague, and by the wild beasts of the earth.

According to the Indian National Institute of Virology (NIV), a new strain of H5N1 is responsible for the deaths of more than 500 crows.

The crows died three months ago, and test results have finally come in.  It’s an H5N1 strain never seen in India before, and might have come from Vietnam: “We have compared it to the strains from Vietnam, Indonesia and other places in Asia and found similarities with the Vietnam strain.”-A C Mishra, Director of NIV

The last version of H5N1 that hit India is called Clade 2.2.  This new Vietnam like strain is called Clade 2.3.2.1.  Understanding the versions are important: “Since the strain is a new form of bird flu, we have to be very careful. Once the virus is characterized and gene sequencing done we will be able to gauge the impact on bird health and then label as highly pathogenic or low pathogenic.”-A C Mishra, Director of NIV

In Vietnam H5N1 has already killed one Vietnamese man this year.