Tag Archives: wall street

Business/Economics, U.S.

What Economic Recovery? Surprise store closing for Florida Kmart? Women shoplifters target Sears!

08 March 2013/25 Raby’ ath-Thani 1434/18 Esfand 1391

Without much warning, or announcement in local Florida media, the Bonita Springs Kmart began liquidation sales.

The store closing sale started on 03 March, the store must be vacated by May.

Current media reports claim the store closing announcement was made last month, but like I said, so far all the media reports that I’ve found were published within the past 24 hours.  Where’s the media reports from last month’s supposed closing announcement?

The Bonita Springs Kmart is located in a plaza that’s gone downhill for years. The plaza is under new ownership, and according to the only big store left in the plaza (Publix) the new owners are not communicating their intentions to tenants.

Speaking of the media, apparently a female reporter, or media employee, was recently caught trying to steal items from the Granite Run Mall Sears store in Pennsylvania. Sears and other stores at the Granite Run Mall seem to be a favorite target of thieves, most of whom are women.  In the past month several female shoplifters were caught with thousands of dollars worth of items from several stores including Kohl’s. State Police report that some of the women are from out-o-state.

Sears Holdings reported that it lost $489 million USD in 2012, yet CEO Eddie Lambert is buying up Sears stock (he now holds 43845246 shares of Sears Holdings).  Fortune magazine called him “…the best investor of his generation.”

Lambert has been praised for building up other companies, but it comes at the cost of jobs.

Here’s my updated list of 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), recently revealed Bonita Springs Kmart (67 jobs lost).

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

Idaho: Lewiston Sears (at least 60 jobs lost).

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). 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.

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).

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),  one of two Greenville Kmarts (74 jobs lost).

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).

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).

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, U.S.

World War 3: North Korean officer reveals they have ballistic missiles with nukes aimed at United States! Tit for tat continues, will it end in nuclear war?

07 March 2013/24 Raby’ ath-Thani 1434/17 Esfand 1391

At a rally held in Pyongyang, Korea, a military officer revealed to the crowds that they have inter-continental ballistic missiles (ICBM), armed with new smaller nuclear warheads, aimed at the United States.

This comes shortly after the government of the Democratic People’s Republic of Korea said they reserve the right to make preemptive nuclear strikes against the capital cities of their enemies, like the U.S.

That followed the United Nations Security Council passing a new sanctions resolution against the East Asian country.  Also, Australia announced it would not allow Pyongyang to re-open their embassy in Canberra.

And those actions followed a threat from Pyongyang to nullify the armistice that ended the Korean War in 1953.

That threat came because of the announced military war games held by the United States and the Republic of Korea.  Those war games are being conducted now.

This year’s tit for tat can be traced back to the launch of a rocket by Democratic People’s Republic of Korea, which was followed by an underground nuclear weapons test.

 

Business/Economics, U.S.

What Economic Recovery? Sears, Kmart, Barnes & Noble, Best Buy, Radio Shack will continue closing stores, because it makes them money! More proof the bad economy is the fault of unAmerican Corporate America!

07 March 2013/24 Raby’ ath-Thani 1434/17 Esfand 1391

The latest report from commercial real estate analyst, CoStar Group, says store closings for the United States are not going to stop anytime soon.

Regarding Sears Holdings, CoStar Group says between 2006 and 2011 about 150 Kmart and Sears stores were closed.  But that accelerated in 2012, with about 150 stores closed in that single year, and more closings are coming!

Sears Holdings chairman, Edward Lambert, blames competition from the internet, but also admitted that there’s money to be made closing down stores and eliminating jobs: “We (also) are able to realize the value of the real estate in situations where we own the stores or where the lease terms are attractive to third parties.”

Mitchell S. Klipper, CEO of Barnes & Noble, says they will continue closing stores: “We have historically closed 12 to 20 stores each year over the last 10 years, averaging 15 stores a year. That will not change.”

Best Buy president and CEO, Hubert Joly, said closing stores is part of Phase One of its plan which involves “optimizing” its real estate.  That’s code for making money off selling property: “Occupancy cost reductions continue to be a key focus, and we make significant progress in fiscal 2013 [calender year 2012] in both the area of store closings and re-negotiated leases. In fiscal ‘13, we permanently closed 49 large-format stores and expected to close an additional five to 10 large-format stores in fiscal 2014 [calendar year 2013].”

Radio Shack, which had a $63 million USD loss for 2012,  said they will consider closing stores as the leases expire:  “It doesn’t make a lot of sense to look at store closures, unless there’s a lease end in play. We’ll continue to go through that review. But where our opportunity and our focus really has been trying to find stores that are borderline profitable and turning them into higher producing stores. That’s really where our focus is right now.”-Joseph C. Magnacca, CEO

To juxtapose, Walmart says they plan on expanding their ‘brick & mortar’ operations around the world: “Supercenters remain our primary growth vehicle, and we will continue to expand this format to drive share. During the year, we opened 129 Supercenters, including new stores, expansions, relocations, and conversions. We plan to expand our Supercenter fleet next year by adding approximately the same number of units.”-William S. Simon, CEO and president

As is Kohl’s, even though they have closed stores as well: “Our current plans are to open 12 stores in 2013, nine in the spring and three in the fall. Consistent with 2012 new stores, we expect all but one of the 2013 stores to be small stores, with less than 64,000 square feet. We remodeled 50 stores in 2012, and we expect to remodel 30 stores in 2013. Most of these remodels are expected to occur in the fall season.”-Kevin Mansell, chairman, CEO and president

International, U.S.

World War 3: U.S. occupation of Afghanistan; 01 – 04 March 2013. More drone strikes! Yet more of your tax money being spent! Civilians killed by U.S. led ISAF on the increase! Suicide attacks now approved!

04 March 2013/21 Raby’ ath-Thani 1434/14 Esfand 1391

In Farah Province, an eight years old boy tending the family’s sheep was killed by U.S. led ISAF drone strike. It happened in the Aab Solakh area of Pusht Rod district.

In Badghis Province, two mercenaries (Arbaki) joined the Mujahideen.

In Uruzgan Province, the mayor of Chora district, and a trainer for a local police academy,  were wounded after they drove over a landmine.  They were medivaced out. Also in Chora district, an ISAF armored vehicle hit a landmine and was destroyed.

03 March 2013/20 Raby’ ath-Thani 1434/13 Esfand 1391

In Badakhshan Province, Mujahideen attacked a police supply convoy.  Various reports say the battle lasted several hours, resulting in between six and 15 people killed and 12 wounded.  Two trucks were destroyed.

In Kabul City, body guards of a politician open fired on a civilian vehicle killing a woman, and wounding two men inside.  They later admitted they mistook the car as a militant vehicle, because it failed to stop at a local police checkpoint.   Local police had warned the body guards that there might be an attack on the politician.

U.S. led International Security Assistance Force (ISAF) announced they will spend $11 million USD on rebuilding Salang tunnel. Of course that money is coming from taxes paid by the people of the various countries involved with ISAF.

02 March 2013/19 Raby’ ath-Thani 1434/12 Esfand 1391

In Paktia Province, two Afghan National Army troops joined the Mujahideen.

Reports that a civilian contractor working for ISAF in southern Afghanistan, has been killed in an explosion. No details given.

01 March 2013/18 Raby’ ath-Thani 1434/11 Esfand 1391

In Uruzgan Province, Australian Diggers called in an Apache helicopter airstrike that killed two children. The AH-64 crew fired at the boys instead of the intended target.  ISAF confirms: “I offer my personal apology and condolences to the family of the boys who were killed…”-USMC General Joseph Dunford

In Pakistan, the Religious Scholars Council has ruled suicide attacks in Afghanistan, Palestine and Kashmir are now officially permitted.  The Pakistan clerics were to attended a conference with Afghan clerics, but changed their minds saying there are too many opposing opinions on how to handle the continued occupations of Afghanistan, Palestine and Kashmir.

Business/Economics, Idaho, U.S.

What Economic Recovery? List of U.S. job losses & store closings for 08 February 2013: More grocery stores goin’ down! Better get your Scooter chair while you can! Obama/Romney Care takes out more jobs! More Christian schools going down! Tech jobs down the drain!

In Arizona, the Douglas Hospital bankrupt.  Federal court will decide who will take over operations.

In Iowa, Keokuk Area Hospital laid off 24 people, blaming it on long term debts.

The maker of scooters and power chairs, The Scooter Store, cut production and laid of 150 employees! They laid off 220 people back in September 2012! Company officials blame new regulations in the Obama/Romney Care reforms.

In New York, the Sister Rene’ Dental Center shut down.  Operators blame the reduced federal reimbursements under Obama/Romney Care.  The overwhelming majority of their patients are on Medicare.

Our Lady of the Assumption School in Atco, Pennsylvania, closing down.  Officials running the Christian school say enrollment just wasn’t high enough, and at least 20 families are a year behind on their payments! Some parents counter the claims of the church officials and say they are ready to sue the Christian school.

In Tennessee, the Milan Arsenal laying off more employees. 30 people lost their jobs.  It’s all part of planned layoffs announced in 2008. The arsenal will eventually move to Iowa.  Also, TE Connectivity shutting down some of its operations, 33 employees affected.  The electronics company began laying off employees back in October 2012, at least 66 regular employees and 20 temps will be let go by the end of March.

E-commerce manager, Digital River, to close offices and layoff employees.  Company officials didn’t specify how many people will be let go.  The company lost $200 million USD in its 4th Quarter.

Enterprise collaboration company, Yammer, laid off 20 people. Last year the company was taken over by Microsoft.

In California, family owned Sam’s Food City will shut down its last three grocery stores. The owners said they could not compete with national chain stores.  Also, Too Big to Fail Citigroup laying off 181 people in Sacramento!  It’s part of Citigroup’s plan to layoff 11000 people!!!  And Kelly-Moore Paint laying off 20 employees despite an increase in sales: “To ensure our success now and into the future, we are making some internal adjustments to our structure to become more efficient in streamlining our operations while still providing the same high-quality products and services to our customers. As we make these changes, we continue to expand our retail stores in California and the West.”– Steve DeVoe, president

BAE announced it will layoff 200 people in New Hampshire in March!  The British Red Coat defense contractor said it’s due to an expected reduction in government spending.

In Virginia, the Dominion Mine shut down. Operators blame it on a drastic reduction in coal prices.

In West Virginia, a Shoney’s restaurant closed down.  30 people out-o-work.  It’s at least the second Shoney’s in the Kanawha Valley to close.

In Connecticut, the Shadow Room nightclub in Middletown, closed down. The owners want to open a new nightclub in a better location.

In Florida, Aardvark Video in Macclenny shut down. The owners of the 28 years old store blame the internet.

In Edina, Minnesota, the Blockbuster Video store shut down.

In Chillicothe, Ohio, the Blockbuster Video store shut down. It’s part of the company’s plans to shut down 300 stores!

Business/Economics, International, U.S.

Government Criminals: Results of investigation into Iraq reconstruction proves the Bush Jr administration corrupt, arrogant and inept! Get ready for results of Afghanistan reconstruction investigation, it’s even worse! Future occupations in the planning!

06 March 2013/23 Raby’ ath-Thani 1434/16 Esfand 1391

After nine years, the U.S. Special Inspector General for Iraq Reconstruction (SIGIR) has issued his Final Report. It proves the George W. Bush administration not only arrogant, but inept and possibly down right criminal.

First, realize that the reconstruction would not have been necessary if the Bush Jr administration had not invaded Iraq.  U.S. taxpayers were forced to spend about $1 trillion USD on invading and occupying Iraq (that does not include tax money spent in 2012).   Another $60 billion tax dollars were spent on reconstructing the country after we destroyed it!

The Final Report from SIGIR shows that most of the corruption involving reconstruction money involved U.S. citizens, not Iraqis, and even saw the Bush administration putting convicted felons in control of untold tons of cash (yes, tons of cash, there was so much U.S. tax money being sent to Iraq they weighed it instead of counting it!).

To make matters worse, former Secretary of State, and Desert Storm hero, Colin Powell has re-admitted he lied about Iraqi weapons of mass destruction in his latest book, It Worked For Me: In Life and Leadership.  Powell also says the Bushy Boy administration never debated any justifications about invading Iraq, they just wanted to do it.  This makes the U.S. invasion of Iraq a war crime under international law. The very law that the United States help create.

Second, the final SIGIR report listed lessons to be learned from the Iraq occupation, lessons that were available from the British occupation of Iraq after the First World War (WW1).  Obviously the Bush administration was inept when it came to learning lessons from history, even though Bushy Boy has a four year degree in History from Yale!

In 2006 I wrote my Senior Thesis on the 20th Century history of Iraq, from the end of WW1 up to the takeover by Saddam Hussein. There is plenty of historical data from the British occupation to have given any future occupier fair warning of what to expect.  I concluded that the United States was making the same mistakes as the British Empire and would eventually pullout after wasting a lot of time, lives and tax money, just like the British did.  One things for sure, Texans like Bushy Boy like to do things big, and he more than exceeded anything the British Empire did when they tried to directly control Iraq.

SIGIR found that many reconstruction projects, being run by U.S. contractors,  were never completed, or poorly completed with at least 40% of projects being deficient, and that none of the projects actually addressed what Iraqis needed!  In other words, U.S. contractors had a field day creating projects to justify taking your tax money!

And for all those main streamer media reports blaming corruption on Iraqi officials, SIGIR’s Final Report blames most of it on your fellow ‘mericans.  So far 98 contractors and U.S. government personnel (including military officers) have been suspended.  104 people have been indited, 82 convicted (including U.S. military officers).

Here’s a list of a few of those honorable U.S. citizens convicted of ripping you off: U.S. Army Reserve Lieutenant Colonel Bruce Hopfengardner

Robert Stein, a convicted felon

Philip Bloom, contractor

Steven Merkes, Department of Defense (DoD)

U.S. Army Reserve Lieutenant Colonel Debra Harrison

William Driver, Harrison’s husband

U.S. Army Reserve Colonel Curtis Whiteford

U.S. Army Reserve Lieutenant Colonel Michael Wheeler

So far only $191 million have been recovered. Don’t forget, your fearless leaders are still spending your tax dollars in Iraq, while expecting you to take it in the shorts!

Now what about Afghanistan?  According to Stuart Bowen, lead investigator for SIGIR, U.S. spending in Afghanistan is being investigated and it’s turning out to be bigger than Iraq, at least $90 billion spent so far for reconstruction in the Central Asian country: “…Special Inspector General for Afghan Reconstruction [SIGAR] has his hands full…..quite a number of auditors and investigators who have served with me have now moved over to work in his office…”

Now don’t think this means U.S. military adventurism is over, Bowen warned: “Stabilization and reconstruction operations are a reality with us to stay…..we will have them again.”

Watch the PBS NewsHour interview here.

International, U.S.

Breaking news: U.S. backed Syrian rebels capture United Nations convoy in Golan Heights!

06 March 2013/23 Raby’ ath-Thani 1434/16 Esfand 1391

Israeli media reporting that Syrian rebels have captured a UN peacekeeper convoy in the Golan Heights.  The rebels consider the UN forces enemies, even though the UN is actually supporting the overthrow of the President of Syria.

“The command of the Martyrs of Yarmouk announced that it is holding forces of the United Nations Disengagement Observer Force until the withdrawal of forces of the regime of (President) Bashar Assad from the outskirts of the village of Jamla. If no withdrawal is made within 24 hours we will treat them as prisoners.”-video posted on internet

International, U.S.

World War 3: U.S. occupation of Afghanistan; 25 – 28 February 2013. U.S. continues to attack hospitals! U.S. admits Mujahideen attacks are up, not down! Karzai bans Afghans from helping U.S. troops! United Nations behind corruption? More shenanigans with your tax money!

28 February 2013/17 Raby’ ath-Thani 1434/10 Esfand 1391

In Kunar Province, two explosion rocked Damkan district.  The first targeted government border police, killing seven.  The second explosion targeted the people who came to help the victims of the first explosion, at least three civilians killed.   Since U.S. led drone strike follow this MO, the United States is suspected.

In Helmand Province, the Red Coat controlled Camp Bastion was attacked again. The Brits claim no one was hurt in the rocket attack.

President Hamid Karzai banned any Afghan based private security companies from working for U.S./NATO occupying forces. Afghan government sources say the order is the result of investigations that show Afghans hired by U.S./NATO forces are being forced to torture their fellow Afghans.

According to the Wall Street Journal, its reporters have seen a UN report which blames the UN for corruption in Afghanistan. The Law and Order Trust Fund for Afghanistan (LOTFA) is being accused of colluding with suppliers and overcharging in contracts involving the Afghan National Police (ANP).

The on again off again contract for U.S. supplied (and paid for) COIN aircraft for Afghanistan is back on.  Afghanistan will get 20 A-29 Super Tucanos.  They will cost U.S. taxpayers as much as $950 million USD.

27 February 2013/16 Raby’ ath-Thani 1434/09 Esfand 1391

In Kabul City, a suicide bomber attacked a bus load of Afghan National Army (ANA) personnel. Reports vary from saying seven people wounded to 17 people killed.

Responding to inquiries from the Associated Press, U.S./NATO/ISAF officials admitted their earlier claim that Mujahideen attacks were down by 7%, is wrong!

26 February 2013/15 Raby’ ath-Thani 1434/08 Esfand 1391

In Ghazni Province, 16 or 17 ANP personnel were killed.  Reports are confusing, one said Mujahideen attacked the police station, another said the cops were poisoned.

In Herat Province, ANA claims they killed 28 Mujahideen, wounded 20 and captured six others.  They say three Arabs were among those killed.  Two ANA troops killed, two wounded.

According to Alliance of Health Organizations (AHO), and the Swedish Committee for Afghanistan (SCA), the United States has been attacking hospitals, and continues to do so: “Most NGOs who deliver healthcare in this country experience this almost on a monthly basis…”-Andreas Stefansson, SCA

The United States is a co-creator and signatory of the Geneva Conventions which bans attacks on medical personnel.

U.S. Secretary of State, John Kerry, said claims that U.S. Special Operations Forces (SOF) were torturing and killing innocent people in Maidan-Wardak province will be investigated. This comes after President Karzai ordered all U.S. forces out of the province.

25 February 2013/14 Raby’ ath-Thani 1434/07 Esfand 1391

In Logar Province, a suicide bomber attacked an ANA base, in Baraki Barak district, killing or wounding dozens of Afghan troops.

In Helmand Province, four people were killed and six wounded after the van they were in drove over a landmine.

In Farah Province, reports that U.S./NATO/ISAF personnel abandoned a base in the Khak-e-Safid district.

The soon to be imposed electronic ID cards for all Afghans has proven to be racists.  The issue revolves around the use of languages and ethnicity in determining who is “Afghan”.  Officials were hoping to force 100% of “Afghans” to get the ID card before upcoming elections, but now think only 50% of “Afghans” will have the monitoring system by then.  The official reason for the mandatory electronic IDs is to prevent fraud.  Some critics think the cards will not be issued to any Afghan who does not recognize the government, and therefore will be classified as illegal residents.

A record 42 Green on Blue attacks hit U.S./NATO/ISAF forces in 2012.  62 occupiers were killed.

Business/Economics, International, U.S.

What Economic Recovery? List of U.S. job losses & store closings for 07 February 2013: No more volunteers for Volunteers of America? Christian God still can’t stop bankruptcy! UnAmerican Corporate America continues to outsource!

In Montana, the Helena Christian School bankrupt.  The school is still operating, but plans to expand were thwarted when it was discovered the land they bought is contaminated with mining waste.

In South Dakota, Volunteers of America is laying people off.  At least 12 people will be out-o-work.  VoA officials blame decreasing federal and state funding.

In Texas, J.C. Penney announced layoffs at their HQ.   At least 300 more people will be let go.  Last year the struggling retailer laid off 950 employees.

The Port of Bremerton, in Washington, needs to lay off employees and cut costs. The operation is losing $365000 USD per year.  Also, the ZO Home recycled furniture store in North Bend closed down. Owners said the concept of recycled furniture didn’t sell.

Let’s Talk Cellular closing stores throughout Wyoming.  The owner wants to retire to focus on her alpaca ranch.

In Nebraska, Brodkey’s Jewelers bankrupt. The family owned chain store began in 1880! Eight stores in the Corn Husker State, and one in Iowa, are being liquidated.

Porter’s Camera Store closing after almost 100 years of business in Cedar Falls, Iowa. The owners blame the bad economy for their crashing sales.

General Motors confirmed they will close their Flint East, Michigan, factory in November 2013. This after GM continues to report increased profits and increased sales.  And don’t blame the recent strike by factory workers, GM officials admitted they decided to close the car factory long before that.  At least 600 people out-o-work!

In Minnesota, the owner of a Harley Davidson store in Canal Park had to close it down.  He said sales during winter months continue to crash, but sales at his Hermantown store “pretty darn good.”

A gift store in Illinois shut down.  The G. Whiz store in Barrington closed because the owners want to retire.

The Hustler Hollywood store in Clintonville, Ohio, closed down.  The adult mega store was open less than one year, and sales were terrible.

In New Jersey, seven East Greenwich cops were told they could lose their jobs.  The township is short $600000.

In Massachusetts, the Worcester Art Museum laying off six employees.  Museum officials said it was part of their restructuring.

In New York City, New York, United Kingdom based Barclays announced 275 layoffs beginning in May!   The investment company is in trouble regarding LIBOR rate fixing scandal.  Company officials blamed “economic reasons” for the hundreds of layoffs coming for their New York operations.  Serves those evil investment people right!  And California based Mercury General laying off all 65 employees at its Latham, New York office. The insurance company is consolidating operations.  Also, the Cassadaga Valley Central School is considering closing an elementary school. School officials are trying to figure out how to save money.  A Kmart in Lancaster is closing, and Cedarhurst’s Sabre Kosher Pizza out-o-business.

In Franklin County, Pennsylvania, Easter Seals is closing down an office as part of their consolidation efforts. 11 therapists laid off: “We’ve spent the past week and a half notifying our patients….Our main concern is our patients and trying to help them transition to other providers.”-Lynne Wenrick

In South Carolina, Audio Video Appliance Center out-o-business. Owners said they couldn’t compete with national chain stores.  The store first started in 1990.

150 people in Wisconsin losing their jobs to Thailand!  Hutchinson Technology is moving more jobs from the U.S. to Thailand.  Company officials say it’s the only way they can cut their labor costs.

You can’t save a lot anymore in Affton, Missouri. The Save-A-Lot grocery store closed because company officials said sales weren’t good enough.

 

Business/Economics, International, U.S.

Cooking Oil, the new Gold: Prices going up (again), cooking oil becoming target for thieves, and Warren Buffett!

05 March 2013/22 Raby’ ath-Thani 1434/15 Esfand 1391

Cooking oil prices just keep going up at the grocery store.  I remember when I could get a gallon of vegetable oil at Walmart for around $1.00 USD,  now it’s close to six bucks per gallon (last time I checked, I still have a little bit-o-that last gallon I bought for a buck, I been using butter cause it tastes better and it’s cheaper where I get it).

Reasons for cooking oil prices going up range from individual countries imposing and increasing import taxes on vegetable oil, to wars, to crime, to supply/distribution issues, to it being used to make fuel for vehicles and problems (like drought) growing the crops used to make it.

Of course, any war torn country sees skyrocketing prices in the basic necessities, like cooking oil.

Interestingly I’ve seen recent conflicting reports concerning India.  Some reports say the price will come down as demand has dropped (due to it being expensive), yet other reports say the price will go up because India is increasing their import tax on foreign made cooking oil (in the name of protectionism).

In the Indian state of Himachal Pradesh, cooking oil is now part of the state government’s welfare program for low income people.

In Malaysia, palm oil prices are up. In the last week prices fell on rumors that soy oil (currently the cheapest form of cooking oil) yields from China and the Americas would be so large that palm oil couldn’t compete.  Now prices of palm oil are up on predictions that supply will fall. However, there’s also the chance that demand will fall as the Malaysian government has imposed an export tax on their own cooking oil product. Oh the joys of western capitalist commodity markets!

China is buying up soybeans from South America. Apparently China now has enough bean crushing facilities that it can crush the entire soybean crop from Argentina! Last year China crushed 61 million metric tons of soy, which is less than half what it could have handled.

Right now, China takes in about 76% of Latin America’s soybeans.  China also buys up 60% of soybeans made in U.S.A. That’s because soy grown in the Americas was (was is the key word) actually cheaper than soy grown in China. But demand keeps going up, and now reports of supply going down despite increased production.

The latest reports out of Brazil, the largest South American producer of soy, say that transportation issues are resulting in delays getting soy products shipped out. Brazil was expected to beat out the United States as top exporter in 2013, but not now. Analysts say the transportation problems in Brazil are causing demand for U.S. soy to go up, thus causing U.S. soy prices to go up.

The bad economy in Spain has hit the olive oil industry hard. The latest reports say olive oil production has dropped 60%!  Part of that reason is due to cheaper olive oil flooding into the Iberian country: “Boatloads of olive oil keep arriving from Tunisia, and the rain of the last two months has been very good for the land, auguring well for a recovery in terms of better olive flowering in May.”-Olimerica magazine

Another reason olive oil production is down in Spain is that the olives are being shipped out to India. The South Asian country consumed $2 million USD worth of Spanish olives in 2012. This is part of the reason that global demand for the oil producing olive is way up, up so high it might be outpacing the increased global production, which results in higher prices.

According to Olive Oil Times exports of olive oil to China and Japan are up 38% so far this year. Australia has increased olive oil imports by 32%.  Russia by 19%.  Also, for the months of October and November 2012 “…the US imported 53,625 tons, Brazil 14,996 tons, Japan 8,468 tons, Canada 7,447 tons, Australia 7,379 tons, China 7,270 tons, and Russia 7,035 tons.”

Now enter the con-artists. Olive oil has become such a profit maker that sellers are ripping consumers off with fake olive oils and even repackaging to sell cheaper olive oils as more expensive brands: “The olive oil sector is being subjected to a dangerous scheme, whereby traders make huge profits re-exporting imported olive oil after labeling it as Lebanese.”-George al-Aynati, Koura Olive Farmers Association

In Namibia, on the African continent, farmers say the drought is so bad they can not grow anything.  Emergency supplies of corn (maize) are running out.  Corn is used to make cooking oil.

U.S. corn prices are up. This is because of limited domestic supplies due to a combination of drought and increasing exports to other countries.

A report out of Canada says canola was the top money making crop for Canuck farmers in 2012.  However, the latest reports say canola prices are dropping, due to an expected decrease in demand from China, caused by a slow down in the East Asian country’s economy.

A report out of Colorado U.S.A., says more farmers are turning some of their canola oil crops into fuel for use in their farm equipment. This is after a bad year in which crop yields were down.

Rapeseed prices are going up and Canada’s Farm Ministry blames increased demand from China (despite their economic slow down?), with the result being short supply for Canadians: “Consequently, with availabilities likely to remain thin in Canada, and limited capacity in other suppliers to lift exports to meet any potential expansion of global demand, fundamental tightness could provide sustained market support in 2013-14.”

In Australia, export analysts are blaming the increasing value of the Aussie dollar for making Australian agriculture products more expensive for foreign buyers.

In Japan, the country’s number two cooking oil maker, Nisshin Oillio, said they will have to raise prices as much as 15%.  They blame rising prices of basic  commodities and the falling value of the yen (which makes it more expensive to buy foreign supplies).  Other food suppliers said the same, and consumers are expected to see the higher prices in their local grocery stores by April.

The increasing price of fresh grown oil crops has alternative fuel makers going after used cooking oil. But that’s creating a new problem.

In Atlanta (Sandy Springs area), Georgia U.S.A., people have been caught trying to steal used cooking oil from local restaurants! Police say the used oil is sold by restaurant owners to alternative fuel (bio-diesel) makers, and desperate people are trying to cash in by stealing it.  The most recent case involved a woman who got away with $100 worth of used coking oil.

The Philippine Department of Energy, and Department of Environment and Natural Resources, just announced a new program to use waste oil (to include used cooking oil) to make fuel. It involves a major fast food company called Jollibee.

Apparently Warren Buffett wants to jump on the money making cooking oil band wagon. According to the latest reports, Buffett’s current five faves for stock investments involve Archer-Daniels Midland Company, which is involved with cooking oil and food commodities trading. He also likes Kraft Foods, a major user of cooking oil (like in their mayo, Miracle Whip and salad dressings).

In the long run we consumers could see lower prices, as more farmers in the Americas are jumping on the cooking oil crop craze, to try and make some profits.  And, many eastern hemisphere countries are focusing on increasing their own cooking oil crops (like China and India), to try and counter the rising prices.  Analysts say this will result in a future glut of crops for cooking oil, which should, hopefully for consumers, bring prices down.