Tag Archives: tea party

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

Global Economic War & Corporate Incompetence: Idaho polysilcon producer, Hoku, quietly starts operations, loses CFO, loses millions of dollars again

Pocatello, Idaho’s, polysilcon factory, run by Hoku Materials (which is a subsidary of Chinese owned Hoku Corporation), officially and quietly started operations on December 1st.  That’s according to Chinese media citing Tianwei New Energy Holdings Company Limited, the Chinese company that controls 60% of Hoku Corporation.

Interestingly no mention of the start of operations has come directly from Hoku.  Hoku Corporation did announce the resignation of their CFO, treasurer, and secretary, Darryl Nakamoto.  His resignation will be effective March, 2012.

Another loss, this one missed by local Idaho media, is the fact that Hoku Corporation continues to bleed out money.  Its latest report, ending September 30, 2011, showed Hoku with a net loss of $7.9 million (computed in accordance with U.S. Generally Accepted Accounting Principles)!

I’ve posted before about the conundrum Hoku is now in, since it is 60% owned by the Chinese: “…Hoku is set up in a bad position; action by the U.S. government could hurt their new plans to sell Chinese PV products, and retaliation by the Chinese government could hurt their pending polysilicon orders.”

I wonder why Hoku is keeping so quiet about their operations start up in Idaho, while it’s making front page news in China?

GLOBAL ECONOMIC WAR: IDAHO’S HOKU SILICON FACTORY MAY BE ENDED BEFORE IT STARTS. CITY OF POCATELLO GUILTY

Business/Economics, International, U.S.

Western Xmas holiday, the new scourge of China. Chinese know the true meaning of Christmas, what happened to the United States?

“I was supposed to relax on holidays, but this feels more stressful than working at the office.”-Zhao Xiaojuan, works for investment company

Since U.S. companies have been moving into China, they’ve brought U.S. style holidays with them, and the Chinese are regretting it.

Many company managers spend their holidays, and their money, entertaining foreign (U.S.?) business guests, out of fear of insulting them if they didn’t do so, and competition!

“I have to give gifts to show respect and gratitude to my clients, because all my colleagues do so.”-Gao Ping, newly graduated from college

For many young adults the Western gift giving tradition is hitting them where it hurts; in their wallets!

“I’ll have to eat instant noodles for the whole month to save money….I could have saved 10,000 yuan (U.S.$1,580) if we didn’t have to celebrate foreign holidays!”-Zhou, employee of foreign owned company

More than 40,000 Chinese bloggers have voiced their opposition to the U.S. imposed holidays, and one of the most numerous complaints is that the U.S. holidays confuse affection for family and friends with money: “I know they want to show their affection for me, but words speak louder than money.”-Gao Ping, newly graduated from college

How dare he say “words speak louder than money”! Thurston Howell III, the Wolf of Wall Street, is rolling in his grave!

 

Business/Economics, International, U.S.

What Economic Recovery? Chinese families told to prepare to tighten their belts, blame hyper inflation & Global Food Crisis

“Inflation may be a long term problem in the country because food prices may surge again and the price of manufacturing resources is likely to grow fast in the coming year.”-Zhang Shuguang, Unirule Institute of Economics

In one of the few countries where the economy is good, people are being told to prepare for the worst.

What should a family do? Those making enough money to save should start investing in physical assets, including precious metals, real estate and antiques.  (That advise is probably too late for those of us 99%ers in the United States.)

To give you an idea of how good the Chinese economy has been doing, read this: “Among urban families with average annual personal income between 50,000 yuan and 100,000 yuan, 63.7% have family wealth management plans this year, compared with 27.5% last year.“-Zhang Jinbao, Tsinghua University and Citi Foundation

Current savings trends for Chinese workers include health care, education for their children and retirement (so much for China being a communist/socialist country).  But now even bank officials are prompting families to put as much as 70% of their earnings into property, to try an avoid the coming hyper inflation!

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

Corporate Incompetence: Dairy company continues to produce products with toxins, despite repeated fines

“A stained history means the company has problems in its professional ethics, so we shouldn’t trust it anymore.”-Fang Zhouzi, blogger

Milk products containing aflatoxin continue to be found on store shelves, despite the company’s claim that they destroyed all their tainted dairy products.

Aflatoxin builds up in your body and causes liver cancer, it can not be eliminated by pasteurizing!  It can be the result of cattle feed that’s been stored for too long.

The company involved is Mengniu Group, in China. It has a history of producing contaminated dairy products. In 2009 the company was involved with the melamine contamination incident (melamine is used mainly in construction, but it turns out that dairy companies have been using it to artificially increase their products’ protein levels. It was discovered that in the U.S. the FDA had no standards for melamine used in food).

“If the company carried out checks and didn’t find a problem, then their case is suspect.”-Wang Dingmian, Guangzhou Dairy Association

Over the past weekend, several Chinese customers were suspicious of the milk they bought and had it tested. It all turned out to be contaminated with aflatoxin.  This happened after the Mengniu Group said they destroyed all tainted dairy products.

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

World War 3: Finland seizes U.S. made Patriot missiles, Germany says legitimate cargo bound for South Korea

“We have impounded the explosives and missiles and asked the Defense Ministry to transport and store them.”-Petri Lounatmaa, Finnish Customs

Finland has cleared an Isle of Man (a British Crown Dependency) registered ship, but only after taking the 69 Patriot missiles and 160 pounds of explosives.

German officials are upset. They claim the missiles came from German inventory, and were properly declared for shipment to South Korea.  Finnish officials basically say Gemany is lying: “Of course, there are legal transports of weapons or defense material (through Finland), but in this case the cargo was marked as containing fireworks. That is quite unusual.”-Paivi Rasanen, Interior Minister of Finland

Finnish port authorities say the 160 pounds of explosives, mainly picric acid (a nitrate based explosive which is also used in fireworks),  were stacked on pallets fully exposed to the elements.  Knowing what it was they began to open crates and that’s when they found the Patriot missiles.  The missiles were in crates marked “fireworks”!

The Finnish government has properly stored the explosives along with the missiles.  Finland is keeping the missiles and explosives, pending further investigation.

The ship, M/S Thor Liberty, is free to sail, but the 11 crew, including the captain, are in custody: “She can sail, but customs is still holding the cargo and the (detained) crew isn’t allowed to leave Finland.”-Markku Koskinen, Port of Kotka

 

International, U.S.

Government & Military Incompetence: 3 U.S. soldiers killed on Xmas Eve, in Afghanistan. Part of growing trend

2011 has seen a growing trend in Afghanistan; Afghan government troops turning on U.S./NATO troops.  On December 24, three U.S. soldiers were shot and killed by an Afghan soldier, after an argument at a training base in Pusht-Rod district of the western province of Farah.

Five other U.S./NATO troops were wounded, one Afghan soldier was killed another wounded.

In November an Afghan soldier wounded at least three Australian soldiers in southern Uruzgan province.  In April an Afghan air force pilot killed eight U.S./NATO soldiers at Kabul airport.

Business/Economics, U.S.

What Economic Recovery? 200 people lose their jobs on Xmas Eve, hundreds more to follow. Hawaii Hospitals broke! Layoffs could have been avoided!

On December 23, 200 employees at the Hawaii Medical Center hospitals on Oahu, were told their last day on the job was Christmas Eve!  But that’s just the beginning, another 800 are scheduled to be laid off soon.

Here’s the real scandal; the hospital was up for sale and had a willing buyer, but the hospital’s owner said no!  The hospital is owned by Saint Francis Healthcare System of Hawaii.

 

International, U.S.

Acne: The new wonder drug in the war on Cancer. The Pimplepuff Heroes

Japanese scientists discovered something interesting about the bacteria associated with pimples…they destroy skin cancer cells!

Mie University’s Graduate School of Medicine injected the acne bacteria into mice with skin cancer.  Just one injection halted tumor growth for one month, but two injections almost killed the tumor cells!

They speculate that injecting the pimple bacteria into the tumors causes your body’s white cells to go hyper and attack the cancer cells.  Why wouldn’t the white cells attack the cancer cells to begin with? Because the cancer cells are actually your body rebelling against you, your white cells don’t normally attack your own cells (in some cases they do).  So by injecting the cancer cells with a bacteria your body’s white cells target your cancer cells.

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

What Economic Recovery? Idaho’s Micron loses big time, again. Many Idahoans still think Micron is Idaho’s major employer

Computer chip maker Micron reported another quarterly loss;  U.S.$187 million! This follows a $135 million loss the previous quarter.

It was hoped the end of a lawsuit, in Micron’s favor, would be a sign of better times to come, but not so.

A west Idaho newspaper reported that many Idahoans think of Micron as the Boise’s biggest private employer. Back in October I posted how real estate web sites, and even Wikipedia, incorrectly report Micron as the biggest employer in Boise.

With Micron’s continued loses it’s possible that they now employ less than the 5,000 people reported at the end of 2009.

 

 

International, U.S.

NAZI-land & Military crimes: 8 U.S. soldiers murdered a fellow soldier in Afghanistan, tried to make it look like suicide, second case of ethnic cleansing within the U.S. military in Afghanistan

Danny Chen, a 19 year old infantryman assigned to Company C, 3rd Battalion of 25th Infantry Division, in Afghanistan, died on October 3, 2011.  Initial reports said he shot himself in the head.

Now the U.S. Army has charged eight U.S. soldiers in connection with Chen’s death: 1st Lt Daniel J. Schwartz, Staff Sgt Blaine G. Dugas, Staff Sgt Andrew J. Van Bockel, Sgt Adam M. Holcomb, Sgt Jeffrey T. Hurst, Sgt Travis F. Carden, Spc Thomas P. Curtis and Spc Ryan J. Offutt.

They are charged with dereliction of duty, maltreatment, involuntary manslaughter, assault consummated by battery, and reckless endangerment.

But get this, the U.S. Army would never had investigated if it wasn’t for Chen’s hometown of Chinatown, in New York City! The Asian community demanded the Army investigate.

The U.S. Army investigators discovered that Chen was subjected to physical abuse and ethnic slurs, because he’s ethnically Chinese.

This is the second such case. The first involved the death of Harry Lew, a U.S. Marine from California.  Lew was subjected to brutal hazing in Afghanistan.  The USMC quietly court martialed Lew’s attackers in October of this year.