Category Archives: U.S.

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

What Economic Recovery? Hoku, Idaho, finally to start polysilicon production, but ongoing delays will cost solar company money

“We are positioned to bring the first 2,500 metric tons of manufacturing capacity online in the coming weeks, and we continue commissioning key systems on site.”-Scott Paul, CEO of Hoku Corporation

After years of continued promises of local hiring and construction delays, due to financial problems, Hoku claims it will finally start polysilicon production within weeks.

However, Idaho Power insists that Hoku pay up front for its electricity, Hoku officials claim they’ve already paid $5.3 million to the utility.  This is just part of a long list of financial problems the wannabe polysilicon maker has had.

It’s ironic that a solar power “products and services” company must rely on an old fashioned electric utility to provide power to run their new 2,500 metric tons of polysilicon factory.

Hoku Corporation has already lost $10.2 million during the second quarter of 2011.  The solar power products company is based in Hawaii.  Their polysilicon Hoku Materials plant is located in Pocatello, Idaho.

Hoku has been getting financial help from a Chinese company; Tianwei New Energy Holdings.

Hoku salesmen oversold their company’s product, and now they’re scrambling to issue refunds, and offer discounts on existing contracts for waiting so long for their product.

All current orders for polysilcon are delayed, no thanks to the financial problems that have delayed construction of the Pocatello plant for the past couple of years.  Expect Hoku to continue reporting losses as a result.

2010: HOKU TURNING TO CHINA TO HELP FINISH POCATELLO PLANT

 

Business/Economics, U.S.

What Economic Recovery? Latest survey shows there are less jobs now, than in 2008, study says Corporate America is Lieing when they use the excuse “they can’t find qualified workers”

“To fill the gap by mid-2014, three years from now, 400,000 jobs would need to be created each month.”-EPI study titled: Sustained, high joblessness causes lasting damage to wages, benefits, income, and wealth

The latest Economic Policy Insitute study shows there are 6.8 million fewer jobs now, than when the recession officially started in 2008.

The study also indicated that it was a pipe dream to some how create 400,000 new jobs every month.  So far, evil Corporate America has been hiring a paltry average of 144,000 jobs each month.  The EPI authors say at that rate it’ll take 15 more years to get the United States back to its pre-2008 glory.  And this study doesn’t take into account all those federal and state government jobs that will be lost due to budget cutting.

Another aspect of the study showed that Corporate America’s claim that there are no qualified workers to hire, is a lie!  That type of unemployment is called Structural Unemployment.

The study found that the ratio of job openings, to job seekers, is one opening for every four applicants.  It’s been that way for at least two years now.  With an average of four unemployed people applying for one job, how can Corporate America say they can’t find any qualified workers?

Here’s another reason: The unemployed include people from every education group, including college graduates with Masters degrees.  This means Corporate America has a vast pool of trained and educated people to pick from, yet Corporate America isn’t hiring!

 

 

 

Business/Economics, Idaho, U.S.

What Economic Recovery? Idaho New & Used car sales drop nearly 20%

A survey by Cross Sell, and the Idaho Statesman, revealed that new and used car sales, in southwest Idaho, plunged in July 2011.

Southwest Idaho is supposedly doing better economically than eastern Idaho, yet new and used car sales declined.  When compared year to year, sales dropped 14%.  When you compare July 2011, to June 2011, the drop is 19%.

 

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

No Economic Recovery for the U.S.: eBay striking it rich in China

“Chinese exporters today have a significant price advantage, and combined with eBay’s global reach, it creates a very powerful business opportunity.”-Jay Lee, eBay Asia-Pacific.

California based eBay is seeing huge yuan signs, not dollar signs.  That’s because the online auction and retail site is making big gains in China.

Just a few years back anyone in the U.S. who bought something from China, through eBay, had to wait nearly two months to get their item.  Now it’s taking less than a month (I know, I’ve bought a couple of things from China through eBay).

That reduction in shipping time is helping to boost eBay’s China operation: “Now it takes only seven to 10 days for Chinese products sold through eBay to reach any destination in the U.S.”-Jeff Liao, eBay Greater China. (Personally I haven’t experienced that fast of shipping time)

At the end of 2010, 20% of eBay sales were outside the United States, most of which involved China.  EBay officials predict their Chinese operation to grow an amazing 30%-40% every year!

 

 

Technology, U.S.

East Coast U.S. Nuclear plants under inspection for Earthquake damage, exceeeded design limits

The U.S. Nuclear Regulatory Commission is sending a team of experts to a nuclear power plant in the state of Virginia, that was hit by a magnitude 5.9 earthquake on August 23.

The North Anna nuclear power station is about 20km (12 miles) away from the epicenter of the strongest quake to hit the east coast state in 114 years.

The NRC now admits the plant had experienced tremors that exceeded the level it was designed to withstand.

International, U.S.

Britain reveals UN backed ground force operation in Libya

The United Kingdom’s Inner City Press revealed a 10 page document that shows a United Nations backed ground force operation is about to begin in Libya.  It will involve 200 military observers, 190 UN police officers and 61 civilians.

The operation is awaiting approval by the UN Security Council, and an official request from Libyan rebels.  It also details the creation of a new Libyan government, by the United Nations, not the rebels.

The 10 page “Martin report” also claims that the Libyan rebels committed war crimes, by killing prisoners and looting.  It also “doubts” that Gaddafi used mercenaries.

The report was apparently written on August 22, but was officially denied until Inner City Press got its hands on an official copy.

 

 

 

International, U.S.

U.S. led War on Syria: Russia threatens UN Veto, says the U.S. will sidestep the UN and use NATO to attack Syria

“We are afraid that the resolution could push the most radical Syrian opposition forces to more active operations to topple the government. Just because of that, we categorically do not accept the aims our Western colleagues try to attain with that resolution.”–Vitali Churkin, Russian Ambassador to the United Nations

Russia, as well as China, have stated that they oppose any UN Security Council resolution against Syria.

Russian officials say they have information that the United States, and European Union, will sidestep the UN Security Council, because they can not get enough votes of support for their planned attack on Syria.  Instead it is highly likely that the U.S. and EU will use language under NATO rules to justify an attack on Syria.  The North Atlantic Treaty Organization is not part of the United Nations.



Business/Economics, International, U.S.

Global Economic War: After raising prices in U.S., GM lowers prices in China, losing out to VW

“The next 12 months look tough.  Incentives brought forward buying in a very dramatic fashion in 2009, 2010, and now we are seeing a lack of pent-up demand.”-Ashvin Chotai, Intelligence Automotive Asia

General Motors can’t stand the heat of the competition in China, so they’re sacrificing profit margin by dropping their prices, on minivans.

“GM does not rely on the minibus for profit, they only contribute volume.”– Jenny Gu, JD Power & Associates.

GM might not rely on minivan sales for profits in China, but they’re sure taking the competition serious.  GM’s sales of minivans, in China, dropped 3% this year, so far.  That’s important when you realize that China, not the United States, is now GM’s largest auto market.

The minivans that GM sells in China, are made in China, not the U.S.  One in eight vehicle sales in China are minivans.

It looks like VolksWagen is taking up the slack in GM’s lagging Chinese made minivan sales.  GM sold 1.27 million vehicles in China in the first half of this year, compared with VW’s 1.1 million.  This means VW could soon overtake GM’s number one foreign car maker position in China.