Tag Archives: wall street

Business/Economics

World War 3, Economic Front: U.S. job losses & store closings 01 March 2013. More signs the economy sucks!

In New York the power supply company, Eaton Corporation, announced 33 layoffs.  Company officials blame the bad economy.

After 33 years of doing business in Hamburg, New York,  Romanello’s South Restaurant closed down. The owner is pissed off: “I ran out of money. I’m sick about it!”-John Romanello

The coffee shop, Noella Brew Bar, closed down in Brooklyn, New York.  The owner said it wasn’t worth it to keep fighting the bad economy and that “…my health, my kids and life outside of work is more important.”  

In Bronx, New York, the Jonathan Levin High School for Media and Communications will be closed.  School officials blame declining enrollment and a dismal graduation rate of only 31%!

In Ohio, the Neil House Brewery closed.  The Indian Creek School District to close the Wayne Elementary School due to funding problems.

In California, the Saint Rita Christian school in Fairfax is closing: “The problem we have is the same across the United States: dwindling numbers of students and higher personnel costs.”-Reverend Ken Weare

Compuware laying off 160 employees! Most of the layoffs will affect administrative and operating positions. Company officials say they need to save $23 million USD in the next 18 months.

In Massachusetts, Hoosac Bank laying off 20 employees due to a merger.

In North Carolina, Bank of America closing a branch office in New Bern by the end of May.  Too Big to Jail bank officials blamed internet competition: “This decision is driven primarily by a decline in transactions, as customers increasingly rely on other channels including mobile and online banking.”

Toy and game maker, Hasbro, laid off three people from their TV game show division.

In South Carolina, Boeing said it will end hundreds of contracted positions at its Dreamliner factory!  One unnamed source said it could be 20% of the nearly 6000 workers at the factory.  Company officials said it has nothing to do with recent problems with the 787 airliner, but that they simply want to stop relying on contractors.  (mmm, wasn’t it a contractor that made those flaming batteries?)

Social networking site, Memory Lane, laid off an undisclosed amount of employees at its Seattle, Washington, offices.   Company officials would not comment, but it’s known they’ve been losing revenue.

Online video game source, GameFly, laid off as many as 35 people.

Washington DC law firm, Patton Boggs, laid off an undisclosed amount of attorneys.

In Arkansas, Tyson poultry processor to close its Springdale operation. 60 employees out-o-work. Company officials blame a change in consumer demand.

The New Milford Hospital is closing its Family Birthing Center in Connecticut. Hospital officials said it was because adults are having less babies.

In Oregon, the Easter Seals closing their Children’s Therapy Center in Salem.  The international charity blames it on skyrocketing health care costs and crashing donations from individuals and corporations.

After 46 years in operation, the A&P grocery store in Bedminster, New Jersey, shut down.  The lease was not renewed.

In Minnesota, the Rainbow Foods grocery store shut down in Robbinsdale: “The store is underperforming and closing because of increased competition. Their lease is up and because of the decreased profitability they will not renew…..”-Regan Murphy, mayor

In Chelsea, Michigan, the L&W Engineering steel and aluminum fabrication factory is being closed, supposedly for the next two years.  Company officials say they are converting the factory into MIG welding facility, however, unnamed employees told local media the company is dumping the factory.

After 30 years in business, Bacon’s Furniture shutting down in Florida.  They lost their lease.

In an ironic move, the Illinois Department of of Employment Security closed seven offices, in effect laying off 192 employees!  The Prairie State has already closed eight employment offices since last year, this latest round makes 15 in toto.  Now if that’s not a sign the economy is crashing and burning than I don’t know what is!

 

 

Business/Economics

World War 3, Economic Front: U.S. layoffs announced in February 2013 higher than last year!

According to Rueters, the number of announced planned layoffs by U.S. employers was up for the second month in a row at the end of February.

There was a 7% increase from February 2012 to February 2013, and a 37% increase from January 2013 to February 2013.

In February 2013 it was announced that 55356 people would be out on the street sometime this year. That’s on top of the 40430 layoffs announced in January.

 

U.S.

World War 3, North American Front: Ron Paul says War were declared on the ‘Merican People!

Forced lockdown of a city. Militarized police riding tanks in the streets. Door-to-door armed searches without warrant. Families thrown out of their homes at gunpoint to be searched without probable cause. Businesses forced to close. Transport shut down.

These were not the scenes from a military coup in a far off banana republic, but rather the scenes just over a week ago in Boston as the United States got a taste of martial law. The ostensible reason for the military-style takeover of parts of Boston was that the accused perpetrator of a horrific crime was on the loose. The Boston bombing provided the opportunity for the government to turn what should have been a police investigation into a military-style occupation of an American city. This unprecedented move should frighten us as much or more than the attack itself.

What has been sadly forgotten in all the celebration of the capture of one suspect and the killing of his older brother is that the police state tactics in Boston did absolutely nothing to catch them. While the media crowed that the apprehension of the suspects was a triumph of the new surveillance state – and, predictably, many talking heads and Members of Congress called for even more government cameras pointed at the rest of us – the fact is none of this caught the suspect. Actually, it very nearly gave the suspect a chance to make a getaway.

The “shelter in place” command imposed by the governor of Massachusetts was lifted before the suspect was caught. Only after this police state move was ended did the owner of the boat go outside to check on his property, and in so doing discover the suspect.

No, the suspect was not discovered by the paramilitary troops terrorizing the public. He was discovered by a private citizen, who then placed a call to the police. And he was identified not by government surveillance cameras, but by private citizens who willingly shared their photographs with the police.

As journalist Tim Carney wrote last week:

“Law enforcement in Boston used cameras to ID the bombing suspects, but not police cameras. Instead, authorities asked the public to submit all photos and videos of the finish-line area to the FBI, just in case any of them had relevant images. The surveillance videos the FBI posted online of the suspects came from private businesses that use surveillance to punish and deter crime on their property.”

Sadly, we have been conditioned to believe that the job of the government is to keep us safe, but in reality the job of the government is to protect our liberties. Once the government decides that its role is to keep us safe, whether economically or physically, they can only do so by taking away our liberties. That is what happened in Boston.

Three people were killed in Boston and that is tragic. But what of the fact that over 40 persons are killed in the United States each day, and sometimes ten persons can be killed in one city on any given weekend? These cities are not locked-down by paramilitary police riding in tanks and pointing automatic weapons at innocent citizens.

This is unprecedented and is very dangerous. We must educate ourselves and others about our precious civil to ensure that we never accept demands that we give up our Constitution so that the government can pretend to protect us.

Ron Paul

International

World War 3, West Asian & North African Front: Egypt demands Israel submit to Nuclear Nonproliferation Treaty!

30 April 2013 (02:10 UTC-07 Tango)/19 Jumada t-Tania 1434/10 Ordibehest 1391/21 Bing-Chen (3rd month) 4711

While Israel launches new airstrikes on Gaza Strip (killing a man when his body was cut in half by the explosions), Egypt has walked out of international nuclear nonproliferation talks.  Egypt wants Israel, a nuclear weapons power, to sign onto the Nuclear Nonproliferation Treaty.

“Egypt and many Arab countries have joined the NPT with the understanding that this would lead to a Middle East completely free of nuclear weapons. However, more than 30 years later, one country in the Middle East….Israel, remains outside the NPT.”-Hisham Badr, former Egyptian Ambassador to Geneva

Egyptian officials imply they will arm themselves with nukes, to defend against Israel.

International

H7N9 update: 126 cases! Taiwan warns of human to human cases!

30 April 2013 (01:49 UTC-07 Tango)/19 Jumada t-Tania 1434/10 Ordibehest 1391/21 Bing-Chen (3rd month) 4711

“Countermeasures have been effective so far, but the situation is still developing…..We cannot afford to take it easy or relax, as we are facing a new virus. We should be prepared for any possible development.”-Li Keqiang, Chinese Premier

Fujian Province reporting their third human case.  A 58 years old man got sick with symptoms of fever and cough, then sought help at the hospital on 28 April.  He tested positive on 30 April.  Anybody who’s been in close contact with him are now being monitored.

The UN World Health Organization says they’ve confirmed 126 human cases of H7N9, in China and Taiwan.

Despite World medical opinion, Taiwan is now warning of human to human infections.  A report points out that there are now three cluster cases involving people related to or living near each other.

China’s Centers for Disease Control also point out that 40% of infected people had no contact with birds.

 

International

H7N9 update: 24 deaths! NIAID warns of human to human cases!

29 April 2013 (15:48 UTC-07 Tango)/18 Jumada t-Tania 1434/09 Ordibehest 1391/20 Bing-Chen (3rd month) 4711

The city of Shanghai reporting a death.  An 89 years old man died 12 days after seeking medical help.  He was from Jiangsu Province.

China’s Ministry of Agriculture and the World Organization for Animal Health restated that if you cook poultry properly you won’t get sick.

Despite World health officials continuing to claim there is no evidence for human to human infections, Anthony Fauci, the head of the National Institute of Allergy and Infectious Diseases (NIAID), said: “…we still need to be very prepared for the eventuality of that happening.”

Business/Economics

World War 3, U.S. Economic Front: Illinois & Pennsylvania get hit hard by Sears & Kmart!

29 April 2013 (13:49 UTC-07 Tango)/18 Jumada t-Tania 1434/09 Ordibehest 1391/20 Bing-Chen (3rd month) 4711

In Pennsylvania, the Moon Kmart will close in July, putting 143 employees on the street!

Three days ago Sears Holdings announced it will create subspaces in at least eight of their Sears and Kmart stores in Illinois.  In 2010 Sears Holdings began their new ‘Shop within a Shop’ business plan in California and North Carolina.

Sears also revealed they have 58 Chicago area stores up for lease or sale.

Recently a commenter on one of my postings suggested that the Chubbuck, Idaho, Sears was being prepped for such a ‘Shop within a Shop’ scenario.

Here’s the updated list of Sears/Kmart store closings since the end of 2011:

Arizona: Scottsdale Sears/Great Indoors, Chandler Sears/Great Indoors.

Alabama: Gadsden Kmart (50 jobs lost), Mobile Sears (at least 40 jobs lost), Auburn Kmart (at least 40 jobs lost), Anniston Kmart (no word yet on how many jobs lost).

California:   El Monte Sears (at least 40 jobs lost. Damien Arrula, El Monte’s economic development director, said the store manager had lied about what was going on: “The general manager of the store had just indicated to me that they were remodeling.”), two San Diego Sears (at least 80 jobs lost), Pleasant Hill Kmart (more than 50 jobs lost).

Colorado:  Broomfield Kmart (at least 40 jobs lost), Glenwood Springs Kmart (at least 40 jobs lost), Lone Tree Sears/Great Indoors, Longmont Sears (at least 40 jobs lost), Pueblos’ South Side Kmart (52 jobs lost),  Denver Kmart (number of jobs lost have not been made public at this time, but could be at least 40).

Georgia: Macon Sears (at least 40 jobs lost), Buford Kmart (at least 40 jobs lost), Douglasville Kmart (at least 40 jobs lost), Atlanta Kmart (at least 40 jobs lost), Columbus Kmart (at least 40 jobs lost), Jonesboro Kmart (at least 40 jobs lost), Cartersville Kmart (74 jobs lost).

Guam:  Sears Hometown Store.

Florida: Fernandina Beach Kmart (at least 40 jobs lost), Callaway Kmart (at least 40 jobs lost), Orange City Kmart (at least 40 jobs lost),  Deland Sears (at least 40 jobs lost), Stuart Sears (at least 40 jobs lost), West Palm Beach Sears (at least 40 jobs lost), Port St. Lucie Sears (at least 40 jobs lost), Crystal River Sears (at least 40 jobs lost), New Smyrna Beach Kmart (at least 40 jobs lost), Saint Augustine Kmart (at least 40 jobs lost), Pompano Beach Kmart (at least 40 jobs lost),  Jacksonville Kmart on 5751 Beach Boulevard (71 jobs lost), second Kmart in Jacksonville on 4645 Blanding Boulevard (83 jobs lost), Ocoee Sears (102 jobs lost), Pensacola Kmart on Airport Boulevard closed in 2011, Pensacola Kmart on Mobile Highway closed in February 2013 (69 jobs lost),  Pensacola Kmart on East 9 Mile Road will close in May (73 jobs lost), Hialeah Kmart (67 jobs lost), Bonita Springs Kmart (67 jobs lost), Mount Dora Kmart (100 jobs lost).

Hawaii: Honolulu Sears (owned by GGP, 372 jobs lost!!!).

Vacant bedroom/bathroom section.

One corner of the half vacant Chubbuck, Idaho, Sears. No official closing announcement was made.

Idaho: Lewiston Sears (at least 60 jobs lost).  No official announcement, but it’s painfully obvious the Chubbuck Sears going’ down. Or, maybe it’s preps for Shop within a Shop?

Indiana:  Anderson Sears (at least 40 jobs lost), Saint John Kmart (at least 40 jobs lost), Indianapolis Kmart (at least 40 jobs lost).

Illinois:  Alton Sears (at least 40 jobs lost), Melrose Park Sears parts and repair center (50 jobs lost), Zion Kmart (at least 40 jobs lost), Oak Lawn Kmart (at least 40 jobs lost), McHenry Kmart (at least 40 jobs lost), Peru Kmart (at least 40 jobs lost), Lombard Sears/Great Indoors (at least 40 jobs lost), Fairview Heights Kmart (81 jobs lost), Freeport Kmart (45 jobs lost), Pontiac Kmart (more than 47 jobs lost), Homer Glen Kmart (82 jobs lost), Streator Kmart (45 jobs lost), Lombard Kmart (70 jobs lost).  Naperville Kmart (98 jobs lost), Calumet Sears (164 jobs lost). Sears Holdings revealed 58 Chicago area stores up for lease or sale.  By the way, Illinois elected officials gave Sears Holdings/Hoffman Estates a $150 million USD tax break to keep their headquarters in the state.  The tax break was not tied to any promise not to close stores.

Iowa:  Cedar Rapids Kmart (at least 40 jobs lost), Davenport Kmart (at least 40 jobs lost), Burlington Kmart (50 jobs lost), Coralville Sears (94 jobs lost, this is a store sold to GGP earlier in the year).

Kansas: Lawrence Sears (at least 40 jobs lost).

Kentucky: Middlesboro Sears (in September 2012 the Sears store re-opened under independent ownership, official grand re-opening scheduled for November), Winchester Kmart (back in May, Rankin Paynter bought out what was left of the inventory and gave it to charity), Hazard Kmart (at least 40 jobs lost).

Maine: Lewiston Sears (60 to 70 jobs lost).

Maryland: Ellicott Sears (at least 40 jobs lost), Gaithersburg Sears/Great Indoors.

Michigan: Novi Sears/Great Indoors, Brighton Sears Grand/Essentials,  Harper Woods Sears Full line, Monroe Sears Full line, Adrian Sears Full line, Washington Township Kmart, Chesterfield Kmart, Woodhaven Kmart, Flint Kmart (46 jobs lost), Gaylord Kmart (48 jobs lost).

Minnesota: Willmar Kmart, Duluth Kmart, New Hope Kmart, White Bear Lake Kmart, Bemidji Kmart.

Mississippi: Jackson Sears Full line, McComb Sears Full line, Columbus Sears Full line.

Missouri: Lee’s Summit Sears Grand/Essentials, Saint Louis Sears Full line, High Ridge Kmart (59 jobs lost).

Montana: Missoula Kmart (50 jobs lost).

New Hampshire: Nashau Sears Grand/Essentials, Keene Sears Grand/Essentials.

North Carolina: High Point Sears, Moorehead Sears, Rocky Mount Sears, Statesville Sears, Durham Kmart (79 jobs lost), Asheville Kmart (53 jobs lost),  West Smithfield Kmart (59 jobs lost), Winston-Salem Kmart (69 jobs lost), Hendersonville Kmart (58 jobs lost).

New Jersey:  Lawnside Kmart (about 80 jobs lost).

New Mexico: Las Cruces Kmart (58 jobs lost).

New York: Depew Kmart (68 jobs lost).

Ohio: Chagrin Falls Kmart, Springfield Kmart, two Toledo Kmarts, Medina Kmart, Columbus Kmart, Columbus Sears/Great Indoors, Zanesville Sears (67 jobs lost), Trotwood Kmart (71 jobs lost).   Also, Van Wert Sears franchise bought out by Kirk Berryman, owner of Computer & Networking Technologies (CNT), who plans on moving the store to a new location.

Oklahoma: Oklahoma City Sears (98 jobs lost, GGP owned, GGP wants a $2 million sales tax rebate, claiming it’s needed to offset capital investments needed to bring the space up to the standards for potential new tenants).

Oregon: Roseburg Sears (at least 40 jobs lost), Tualatin Kmart Center (new property owner from California is tearing everything down for new shopping center, so far no indication the Kmart will be part of the new shopping center), Milwaukie Kmart (61 jobs lost).

Pennsylvania: Upper Darby Sears Full line, Pottstown Sears Full line, Pittsburgh Kmart, Wilkins Sears, Warminster Kmart (85 jobs lost), Shippensburg Kmart (46 jobs lost), recently revealed Moon Kmart (143 jobs lost).

South Carolina: Sumter Sears (at least 40 jobs lost), Orangeburg Sears (57 jobs lost), Columbia Kmart on Fort Jackson Boulevard in 2012, Columbia Kmart on Bush River Road in 2009, Columbia Kmart on St Andrews Road (66 jobs lost), Irmo Kmart (no info on how many jobs lost),  both Greenville Kmarts (140 jobs lost between the two).

Tennessee: Antioch Sears (at least 40 jobs lost), Cleveland Sears (at least 40 jobs lost), Oak Ridge Sears (at least 40 jobs lost), Hendersonville Kmart (at least 40 jobs lost), Morristown Sears (about 70 jobs lost), Clinton South Kmart.

Texas: Two Sears parts and repair centers closing in The Woodlands (117 jobs lost), rebuild center in Garland (58 jobs lost), Farmers Branch Sears/Great Indoors, Houston Sears Great/Indoors.

Virginia: Norfolk Sears (at least 40 jobs lost),  Midlothian Kmart (at least 40 jobs lost), Richmond Kmart (at least 40 jobs lost), Lynchburg Sears (84 jobs lost), Fairfax Kmart (no word on how many jobs lost).

Washington: Walla Walla Sears Full line (in August 2012, it was reported that an independent owner of Sears Hometown stores will open a store in Walla Walla), Lacey Kmart (at least 40 jobs lost), Kelso Sears (47 jobs lost), Lakewood Kmart (59 jobs lost), Bellingham Sears (92 jobs lost),  Seattle Kmart (85 jobs lost).

West Virginia: Oak Hill Kmart (59 jobs lost).

Wisconsin: West Baraboo Sears (at least 40 jobs lost, local village officials say the store generated 3% of local tax collections), Rice Lake Kmart (about 71 jobs lost).

On top of that, Sears Holdings sold stores to General Growth Properties (GGP), of which it has been reported that most of those stores will be closed.

Here’s the list of 11 Sears stores now owned by GGP:

Iowa: Coral Ridge Mall (it’s official the Sears is closing, see above), and Mall of the Bluffs

Texas: The Woodlands Mall (this does not involve the two repair centers being closed by Sears)

Florida: West Oaks Mall

Utah: Fashion Place, and Provo Towne Centre (note the evil British empire way of spelling town & center. Due to a favorable lease agreement the GGP owned Provo Sears will continue to stay open under Sears Holdings management)

Oklahoma: Quail Springs Mall (it’s official, the Sears will be closed, see above)

Hawaii: Ala Moana Center (will be closed, see above)

Washington: Bellis Fair Mall (Bellingham store, see above)

Minnesota: Apache Mall

Illinois: Market Place Shopping Center

International

World War 3, West Asian Front: U.S. rebels try to shoot down Russian airliner over Syria!

29 April 2013 (13:19 UTC-07 Tango)/18 Jumada t-Tania 1434/09 Ordibehest 1391/20 Bing-Chen (3rd month) 4711

The Russian Foreign Ministry says a Russian Nordwind Airlines airliner was fired at with two missiles, as it flew over Syria.

The Syrian government reported to Russian officials that U.S. backed al-Qaeda insurgents launched two ground to air missiles at the airliner.  The crew of the airliner confirmed they noticed “battle action on the ground“.  There were 159 people on the plane.

The plane was enrout from Egypt to Russia’s republic of Tatarstan.  The aircrew performed evasive maneuvers and the missiles exploded near the aircraft.

U.S.

World War 3, Gun Control Front: Anti-guns laws fail to prevent multiple stabbings in United States!

29 April 2013 (20:43 UTC-07 Tango 28 April 2013)/18 Jumada t-Tania 1434/09 Ordibehest 1391/20 Bing-Chen (3rd month) 4711

In the Saint Jude Thaddeus Catholic church in the city of Albuquerque, New Mexico, a man attacked four people….with a knife.

The man in his 20s was tackled by other church goers.  Apparently none of the victims are seriously hurt.  Church members say the man is not from their church.

He is in jail, and police say they don’t know why he did it, although witnesses say he yelled “Fake preacher” before attacking.  This just adds to the growing list of mass violence in the U.S. that apparently has no motive.

Then in California, an 8 years old girl was stabbed to death.  The residents of Valley Springs have been told to lock their doors and be on the lookout for the suspect. Police are conducting a manhunt.  The victim’s brother said a stranger broke into the house, stabbed his little sister and fled.  Just like in New Mexico,  there doesn’t seem to be a motive.

Business/Economics

World War 3, Economic Front: U.S. job losses & store closings 26 February 2013. Tens of thousands let go!

Too Big to Jail, JP Morgan, announced they are cutting 15000 employees by the end of 2013!  They need to save $3 billion USD!

In Minnesota, Best Buy laying off 400 people at their Richfield HQ!  Company officials said they needed to eliminate $15 million in administrative costs!  Also, the State Patrol will close its Baxter Dispatch Center.

In California, the Walnut Valley Unified School District laying off at least 15 teachers. The school district is trying to save $12 million over the next two and a half years.  And the Calexico Unified School District are considering laying off employees as well. 16 people could lose their jobs. School officials blame decreased federal funding.

In Alabama, the Birmingham Board of Education considering laying off 133 employees and closing seven schools!  They need to save $8.8 million!

In Virginia, the Richmond School Board will close two schools and layoff 42 people. They blame a multi-million dollar budget shortfall.

In Greenwood, South Carolina, Lander University expects a big drop in student enrollment and a $1.2 million shortfall.  They will layoff employees and raise tuition: “Tuition went up probably $2,000 since last school year, so it’s a pretty big increase.”-Tanner Poore, student

In Connecticut, the Middlesex Community College ended its preschool programs. They blame reductions in state funding.

In Louisiana, the Orleans Parrish Criminal District Court will layoff employees and cut pay.  The reason? There ain’t no mo money: “It’s no secret that money’s running out.  Clearly, we have to make drastic cuts.”-Robert Kazik, court adminstrator

Lockheed Martin laying off more people, again.  This time 68 people lost their jobs at the Forth Worth, Texas,  operation.  After 27 years in business, the RSO Sports Bar in Houston closed down.  Also in Houston, the DePelchin Children’s Center shut down its Elkins residential treatment center.  44 people unemployed. The owners blamed the closing on the changes being made to how federal and state governments reimburse for the treatment of children with severe mental, emotional and behavioral problems.  In Victoria, the Rings-N-Things store closed down.  After 30 years the owners decided it was time to retire.

In Michigan, Menards hardware store closing its Centerpointe location.  Company officials say they want to find a better location.  And in Bay City, the Rudy’s Red Lion Diner closed.

No more Lionel Trains in Tennessee.  Dream Machines Lionel Trains in Collierville shut down.  The owner blames internet competition.

Restaurant Señorita Burrita closed down in The Shoppes at Landis Valley.  It’s the second Señorita Burrita to close in Pennsylvania.

In New York, Queensbury’s Montcalm Restaurant will close after this summer.  The property is being sold to a shopping center developer.  And in Bay Shore, the Smokin’ Al’s BBQ Joint closed due to legal problems involving the sewer system.

Scandinavian goods dealer, Viking House, closed in Concord, New Hampshire.  The owners say the retail market is so bad, that they’re better off focusing on their landscaping business.

In Illinois, the Winnetka Antique Emporium shut down after 40 years in business.

In Ohio, the Bravo Brio closing two restaurants. Company officials blame the bad economy: “Either the market just didn’t develop as we expected or, frankly in certainly one case, the market just moved away.”-Saed Mohseni, CEO

The West Oaks Mall, in Ocoee, Florida, announced it will shut down. The mall is being sold, and it’s hoped the new owner will revive it.

In Colorado, the Sleep-N-Aire closed after 23 years. They made custom mattresses.  The store manager blamed increased competition and the bad economy.