Category Archives: Business/Economics

Business/Economics, International, U.S.

Donations still lag behind Haiti & Katrina, Japanese Red Cross blasted for not handing out money

It might be due to the bad world economy, or the fact that the rest of the World thought Japan was the best prepared for disasters, but donations are still lagging behind the Haiti quake, and Hurricane Katrina.

According to the Chronicle of Philanthropy’s count, U.S.$161 million has been raised, in the past three weeks. Compare that to the first two weeks after last year’s Haiti quake; $528 million, and Hurricane Katrina; $1 billion.

The Los Angeles Times is also reporting that the Japanese Red Cross is dragging its feet on getting help to people.  Japan’s Chief Cabinet Secretary Yukio Edano blasted the Japanese Red Cross for not handing out any of the $1 billion they claim to have raised. Edano ordered the Japanese Red Cross to get busy on handing out help this past Sunday.

Is it me, or does it seem that every organization is just one big failure after another, when it comes to dealing with the Japanese disasters?

Business/Economics, International, U.S.

U.S. Industries in final death throes

Research firm IBISWorld is revealing ten declining U.S. industries, saying their deaths are irreversible. And for some it will be a painfully slow death, lasting until 2016.

The three main reasons: new technology, foreign competition (including shipping off jobs overseas) and industry stagnation (why build new factories when your shipping the jobs off overseas?).

As an example; the number three ranked dying industry is manufactured homes. According to the report, in the last ten years more than 50% of manufactured homes dealers have gone out of business. And those that are still open have seen revenue (not to be confused with profit) fall by 77%.

Here’s the list; 1: Apparel Manufacturing  2: Record Stores  3: Mobile Home dealers  4: Photo finishing (remember the old film cameras)  5: Wired Telecommunications (Landlines)  6: Mills  7: Newspapers  8: DVD, Game & Video rentals  9: Formal Wear/Costume rentals  10: Video Post Production

 

 

Business/Economics, U.S.

“Default by the United States is unthinkable.” but we’re getting really close

Timothy Geithner is warning the U.S. Congress that if they don’t get their act together soon, the United States government will hit its legal limit on debt.

That could mean defaulting on loans owed to the rest of the world.  The Treasury Department is forecasting that the debt limit will be reached between April 15 and May 31.

Some politicians want to reduce spending to prevent default. Others want to legally increase the debt limit.

Surprisingly, Geithner and Ben Bernankie want the debt limit raised.  That would only mean getting taxpayers deeper in debt.

Geithner said the Treasury has some actions it can take, until Congress figures out what it’ll do, but that will only delay the debt crisis until July 8.

Some Congressmen have asked if selling off the country’s Federal Student Loans, or selling off gold reserves, would help.  Geithner basically said no way: “To attempt a fire sale of financial assets in an effort to buy time for Congress to act would be damaging to financial markets and the economy and would undermine confidence in the United States.”

In other words: Time to get your rear in gear, Congress!

Business/Economics, International

TEPCO offers piddly $12.00 per person compensation for nuke disaster

Tokyo Electric said it has started paying Japanese municipalities directly affected by the nuclear disaster.

One town, Namie, refused the money.  Basically it is an insult, because when they divided the TEPCO offer by the number of their population and it amounted to only $12.00 per person. Namie officials say money is needed, but it’s obvious TEPCO’s offer wont help anyone.

Business/Economics, Fukushima

Honda & Nissan Big April production cuts

Nissan says its April production, in Japan, will be about 40% of what was planned before the 11 March 2011 disasters.

Honda says its Japanese production will be half what it was hoping for.

Nissan is actually getting help for its Japanese production, from its engine plant in the United States.

Business/Economics, Fukushima, Technology

Just how much do we rely on Petroleum? No ink, no bleach, no tape, no Shonen Jump

You wouldn’t believe how much we use petroleum products (oil & natural gas) in our everyday lives. The people of Japan are finding out the hard way.

The 11 March 2011 quake/tsunami has resulted in several petroleum plants closing down, due to damage and power cuts. Those plants turn oil and natural gas into everyday products.

How would you like disposable diapers with no tape to seal it shut? Unicharm Corporation discontinued production of special tape used to wrap diapers because of a lack of the chemical needed to make the tape.

Are you one of those people who just have to have your whites their whitest when doing the laundry? No bleach. Mitsubishi Gas Chemical Co has stopped production at its Kashima factory, because of lack of electricity.

Love your Manga? The publisher of mangas including Shonen Jump, is delaying publication because there’s no ink. Maruzen Petrochemical Co stopped production of Diisobutylene, a chemical product used to make ink. Amazingly Maruzen is the only producer of Diisobutylene in Japan, so bye, bye Manga.

Business/Economics, Fukushima

Grocery store shelves empty due to lack of Packaging for food products

According to The Daily Yomiuri, lack of food is not the only reason for bare grocery store shelves.  Even food that is abundant is not making it to the Japanese grocery stores because of a lack of packaging.

The problem is a lack of plastic, and plastic wrap, used for food packaging. The 11 March 2011, 9.0 quake severely damaged a petroleum complex in Kamisu, Ibaraki Prefecture, where the chemicals are made for plastics. (another example of  how we are dependent on oil)

Even plastic bottle cap producers have shut down.

Cardboard production has been stopped as well. The result is products like milk can not be packaged, according to Nippon Paper-Pak Co, a major beverage packaging firm.

Business/Economics, International

Despite claims, Looting is taking place in Japan

I watched an economic forum on what will happen to the Asian region, economically, on NHK.  During the introductions, one of the representatives talked about how well behaved the Japanese are after their March 11 disasters.  She used an example of “no looting going on” as proof.

Well, guess what, looting is taking place.  Hiroshi Takagi, of Miyagi Prefecture, says his pharmacy has been robbed three times since March 11. Locals have been forced to create their own neighborhood watch groups, patrolling the streets at night. Even the Japanese National Police admit crimes in the disaster areas are becoming a problem. They say calls to police have increased 60% since the disasters.

Business/Economics

Remember the Mexican Gulf Oil disaster? Company officials get bonus for beating “safety” standards!

“Notwithstanding the tragic loss of life in the Gulf of Mexico, we achieved an exemplary statistical safety record as measured by our total recordable incident rate and total potential severity rate.”-Transocean, LTD

Transocean, one of the companies involved with the BP (British Petroleum) oil rig disaster in the Gulf of Mexico, gave it’s executives pay raises and bonuses, for having their “best year” ever for safety!

Can you say “What the F**k!”  Let me remind you that 11 people were killed on 20 April 2010, after an explosion on the BP-leased Deepwater Horizon platform. Nine of those killed were Transocean employees. And they say they had their best year ever?  If that was their best year ever then they need to be investigated big time.  How many other people have died while working for Transocean?

Also, the disaster isn’t over with. There are still plumes of stuff coming up from the bottom of the Gulf. The well that the Deepwater Horizon was drilling at the time of the explosion may have been capped, but there are reports that plumes are coming up from other areas, that might have been caused by previous drilling by the Deepwater Horizon platform.

More proof that corporations don’t give a crap about you.