“Dear customers…we have closed our doors…” Corporate America uses Fed debt financing to buy their own stocks & each other! : U.S. Job Losses & Closings 13 – 14 September 2015

Incomplete list of publicly announced layoffs & shutdowns:

“….over the past three years, we’ve seen more than a trillion dollars of issuance each year. And it’s accelerated each year as they try to take advantage of cheap borrowing costs.  They’ve used that money to fund buybacks and also to purchase other companies in what’s been a record wave of mergers and acquisitions.”-Eric Platt, Financial Times explaining to PBS Newshour how unAmerican Corporate America has been using the zero interest rate debt financing they’ve been getting from the Federal Reserve, none of it used to create jobs!

Arkansas: Energex is halting hollow steel structure manufacturing at their Atlas Tube factory, again: “We did idle the plant in April but we did not expect to be down more than 30 days. We expect this to be longer. We will idle the equipment by the end of September.”

California: In San Francisco, British empire U.S. tax-sucking military contractor BAE revealed they laid off 134 people!  Solar energy parts supplier MiaSolé Hi-Tech issued multiple WARNs saying 79 people will be unemployed before November.  Japan owned convenience store chain FAMIMA issued multiple layoff WARNs saying 94 jobs lost by the end of October.  In Menlo Park, Affordable Care Act medical device tax forcing medical device maker Acclarent to layoff 114 people by November!  Off-airport parking operator Park-N-Fly eliminating 71 jobs at two California locations by the end of October.  In Pismo Beach, after at least 33 years Pismo Bob’s hardware store shutdown.

Colorado:  In Fort Collins, two yogurt shops shutdown, Mahalo Yogurt and a TCBY.   The owners of Mahalo Yogurt blamed high rent and the owner of the TCBY admitted there are too many yogurt shops in the area.

Historic and iconic, after 89 years no more Green T in Idaho!

Historic and iconic, after 89 years no more Green T in Idaho!

Idaho:  After 89 years (surviving the Great deflationary Depression and numerous recessions) Chubbuck’s iconic Green T Bar & Grill (aka Green Triangle) shutdown suddenly.  The property, which has been in operation as the Green T decades before the city of Chubbuck was even created and included customers like U.S. President Harry Truman (the guy who nuked Japan), Vice President Hubert Humphrey and Willie Nelson, was sold and supposedly will be turned into three fast-casual restaurants.  Green T memorabilia will be auctioned-off on 01 October.  Mayor Kevin England views the destruction of the last of Chubbuck’s historic landmarks (to be replaced by yet more restaurants) as “…the beginning of some real good things coming in.”   Yeah that’s what we need to save our local economy, more restaurants.

Illinois: Lack of a state budget forced healthcare provider  Home Care Personal Services to shutdown without warning.   After 12 years, upscale restaurant Japonais by Morimoto shutting down in October.  In East Alton, after 62 years Hon’s Barber Shop shutdown.

Iowa: Animal food maker US Feeds shutting down their Eldora factory, 29 jobs affected.  It’s connected to the recent takeover of their rival Hubbard Feed.

Louisiana: It’s been revealed that Bronco Oilfield Services laid off 52 employees last week.  

Michigan: What automotive industry recovery? Car parts maker Stant shutting down their Romeo factory in time for Thanksgiving, 167 jobs lost!  The company is consolidating operations. 

New Jersey:  Nazi state administrators forced Just in Time Moving & Delivery Service to shutdown after ten years of problem free business.  State nazi weenie heads boasted “Through enforcement actions like this, we’re working to protect consumers…”, yet the owner’s only crime was failing to renew his business license.  The owner says the state continually “sabotaged” his attempts to renew his license because of racism:  “A lot of companies do horrendous things in the moving business, and they get away with it. I believe this has to do with my national origin.”-Haliru Gusau

Gusau’s only ‘crime’ was doing business in New Jersey.  Who in their right mind would want to do business in New Jersey and have to pay outrageous license to operate fees when there are states that have little or no license requirements for most businesses?

New York: The family owned Sanborn Marketplace grocery store is being forced to shutdown by their landlord and a greedy property developer.  They have to vacate the building by the end of October, and guess what the property developer wants to do with the property, build a grocery store!

North Carolina: No more beer as MillerCoors announced they’re shutting down their 39 years old Eden ops by September 2016, about 520 jobs lost!  Crashing sales are forcing MillerCoors to consolidate operations along the east coast.

Tennessee: After 26 years The New Moon Gallery and Tea Room shutting down due to the death of one of the co-owners.

Texas: In Austin, the operator of 41 years old music venue Hole in the Wall says he’ll have to shutdown in January 2016 because that’s when his rent jumps to $20-thousand USD per month!

Virginia: “Dear customers, we are sad to inform you that after several months of negotiations with the landlord, Pane e Vino Ristorante e Pizzeria has been unable to reach a new lease agreement. Consequently we have closed our doors for business….”

Wisconsin: In Wisconsin Rapids, after 30 years Gremler’s Bakery shutting down by the end of the month.

11-12 September 2015: “They’re leaving me out to dry!”

WARN=Worker Adjustment & Retraining Notification

Former employees who receive severance are not counted as unemployed

The U.S. Department of Labor (DoL) no longer issues mass layoff reports: “On March 1, 2013, President Obama ordered into effect the across-the- board spending cuts (commonly referred to as sequestration) required by the Balanced Budget and Emergency Deficit Control Act, as amended. Under the order, the Bureau of Labor Statistics (BLS) must cut its current budget by more than $30 million, 5 percent of the current 2013 appropriation, by September 30, 2013. In order to help achieve these savings and protect core programs, the BLS will eliminate two programs, including Mass Layoff Statistics, and all ‘measuring green jobs’ products. This news release is the final publication of monthly mass layoff survey data.”