Tag Archives: wall street

Business/Economics, U.S.

Sears & Kmart news: Sears dropped to negative! Looking for more independent owners. Execs get $1 million cash! Sears Hometown stores make big profits! Kmart becomes target for thieves, mostly women!

05 December 2012, Fitch Ratings has dropped Sears Holdings to negative CCC.  Fitch believes it is unlikely Sears/Kmart will recover, and even expects negative earnings in 2013. As other analysts have pointed out, Sears’ assets are still worth more than any expected revenues (one analyst said Sears was worth more dead than alive).

Executives of Sears Holdings got a some early Xmas money, by selling off, or trading in their vested shares of Sears Canada.  Some execs traded in the vested shares for unvested, worth about $280,000.  Those execs who already had unvested shares will get cash. According to paperwork filed with the SEC, the top five Sears Holdings execs got $1 million in cash!

The push to find independent owners of Sears Hometown stores increases, as profits increase. Reports say that profits at independently owned and operated stores jumped 29% from the year before!

In California, Sears returned to Banning, but as a smaller independently owned Hometown store. It’s being run by a former insurance salesman, and stocks only tools and appliances.

Also in California, a new Hometown store in Lake Elsinore is scheduled to open in February 2013. City officials say their tax revenues correlate with Sears’ increased profits in tools and appliances sold at the independent stores: “We certainly can tell based on Riverside County sales tax reports that people are spending money in these categories…”-Kim Joseph Cousins, Lake Elsinore Valley Chamber of Commerce.

Sears is looking for a Hometown owner in Sturgeon Bay, Wisconsin: “We’re looking for a person who wants to operate a successful business and is customer service oriented. This is an outstanding retail opportunity for a dedicated individual to participate in one of America’s hottest growth opportunities.”-Ed Sosniak, regional development manager for Sears Hometown Stores

Hometown stores are hot, for Sears Holdings, because the onus of paying the rent, utilities and employees is on the independent owner: “The local owner is responsible for start-up and on-going operating expenses associated with the store including: building or leasing a facility; providing in-store fixtures; hiring and training employees; payroll; and insurance…”

Sears makes its money by selling the owner the merchandise.   Hometown stores also employ far fewer people than a full blown Sears.

Sears online sales, cell phone sales, store-to-home sales and web-to-store sales also jumped 28%, however electronics sales crashed 30%!

For Kmart stores there’s been increasing reports of theft.  A man in Florida was captured on video stealing video game systems, four times!  The police are looking for him.

In Wyoming a Kmart was robbed by a woman with a gun (oh no, another one for Bob Costas). What did she want? Prescription drugs!

In Massachusetts, two women were arrested after trying to steal more than $1,000 in merchandise.  And in just the past couple of days, three other women were arrested for trying to steal $130 worth of merchandise!

In Ohio, a Kmart employee was attacked by a man with a box cutter (Bob Costas you better call for the banning of box cutters): “The suspect demanded money and was armed with a box cutter. While the victim was attempting to get his wallet, the suspect began slashing at the victim.”-Ronald Mizner Junior, North Canton Police

In New York, a man who just got out of prison apparently killed himself with drugs (Bob Costas you paying attention).  Police say he was found in a stolen car in a Kmart parking lot.

‘Tis the season

 

 

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

What Economic Recovery? Yet another U.S. company invests big, but not in the U.S., in Japan

05 December 2012, for awhile now U.S. President Barack Obama has been touting his desire that U.S. corporations start investing into research right here in the United States.  Yet, U.S. companies continue to spend that money outside the U.S.

The latest is Qualcomm, who announced they will spend up to $120 million USD, by March 2013, on the failing Japanese company Sharp.

Sharp is now predicting it will lose a record $5.5 billion by the end of March 2013!

Sharp was hoping to be saved by a Taiwanese company, but that deal went south, partly because Sharp’s stock prices are crashing and burning (falling by 75%).

Qualcomm says it’ll use half the $120 million buying up Sharp stocks now, and the other half will be used when Sharp starts showing a profit.  Obviously the California based company has more faith in the Japanese economy than in the U.S. economy.

This could be a money maker for Qualcomm, if Sharp recovers, but if Sharp fails…..

 

Business/Economics, International, U.S.

Global Economic War: Japan & India sign deal to use U.S. dollars only!

05 December 2012, Japan and India have signed a currency exchange deal that could prop up the U.S. dollar.

Banking officials from the two Asian countries have been working on the plan for about a year.  It involves the central banks of Japan and India exchanging up to $15 billion USD per year for the next three years.

They say the exchanges done in U.S. dollars will stabilize their own currencies.  It could prop up the value of the U.S. dollar, which would hurt U.S. factories (who’re still operating in the U.S.) who want to export their products. Japan has been blaming the rising value of their yen on the falling value of the U.S. dollar.

India is blaming the value of the European Union’s euro, for the rupee’s problems.

When a country’s money becomes more valuable it actually hurts their exports because it makes their products more expensive to foreign buyers. The only way for any country to achieve high economic growth is to have strong exports, a strong domestic economy can only achieve stagnation at best (relative to the size of the country).

Business/Economics, International

Trilateral Commission’s dream of one centralized European Bank dashed, for now

05 December 2012, European Union finance ministers shelved any plans to create a single centralized bank for the EU.

Last month things looked good for a central bank of Europe when 6,000 banks were put under EU “supervision”.  It was hoped an official EU central bank would be in place for 2013.

Some of the reasons for the collapse of such plans was that most EU member countries could not agree on the limits of power for a EU central bank. Also, France wanted immediate implementation while Germany wanted a gradual phase in.

EU finance ministers will resume central bank creation discussions next week.

Opinion, U.S.

2nd U.S. Civil War: People, and media of the Big Apple complicit in murder of Asian man? New twist on push for Arms Control!

05 December 2012, an Asian man was pushed to his death by an attacker in a New York City subway.  Such violent crime might not seem too surprising in the Big Apple, but what is is the fact that no one in the subway tried to help the man to safety, they just stood there and took pictures as he gets smashed by the train!

Even a New York City newspaper incriminates itself as they publish pictures of the man’s impending death, taken by a freelance photographer.

Why didn’t anyone help?  The photog gave this answer: “I wanted to help the man, but I couldn’t figure out how to help. It all happened so fast.”

Obviously not so fast that he didn’t have time to pull out his camera and take pics.

Was this because the victim was a yellow skinner from Korea?  The attacker was a black skinner. The photog was a brown skinner (going by his name). Bob Costas is a white skinner.

This should be ammo for the anti-violence crowd, you know, Arms Control.  Not Arms as in guns, but arms.  Obviously in this case it was a deranged man’s arms that killed the other man.  People’s arms should be banned, lest they try to kill other people with them.

Bob Costas should get in on this one, after all it involved someone with mental problems and probably prescription meds (just like that football player who shot his wife and himself).  Using Bob Costas rationalization, it’s not the fact that the guy had mental problems that led to the killing, it’s the fact that he had arms and he knew how to use them to kill!

Even the freelance photog is guilty.  He has arms and he didn’t use them to save the man’s life, he used them to document the man’s death.  Off with his arms!

And this isn’t the first time, there’s at least one other high profile case, back in 1999, when a New York City woman was pushed to her death on the subway tracks by a mentally troubled person, who had arms!

One things for sure, I bet there are even more people throughout the United States who’re are not going to shed anymore tears for the people of New York City.  U.S. sponsored al Qaeda, stock market collapse, Mother Nature’s fury, bring it on!

 

Business/Economics, U.S.

What Economic Recovery? Almost 2,000 more job losses for the state of Illinois!

04 December 2012, eleven companies operating in Illinois will lay off at least 1,934 people in the next few months.

U.S. Cellular Corp cutting 492 jobs in Bolingbrook.  (last month the company said as many as 640 jobs would be eliminated in the Chicago area)

Willow Lake Mine in Equality is cutting 408 employees.  The mine wants to shut down permanently.

Fresh Express closing two operations in Franklin Park, some employees will be transferred to other operations.

World Kitchen laying off 180 employees in Monee, wants to cease operations there by end of 1st quarter 2013.

Jacobson Staffing Company cutting 145 jobs in Manteno and 84 in Romeoville.

PCCW Teleservices (a Hong Kong based company) laying off 139 workers in Quincy.

Bay Valley Foods laying off 113 workers in Mendota.

Restaurant, Buca di Beppo, letting go 70 workers.

Kmart cutting 70 jobs in Lombard.

R.S. Owens ending 95 jobs in Chicago.

Carson Pirie Scott laying off 76 workers in Calumet City.

Doblin Inc will cut 62 jobs in Chicago.

Source: Illinois Worker Adjustment and Retraining Notification Act (WARN) report.

 

Business/Economics, U.S.

What Economic Recovery? Illinois hit by another Sears/Kmart closing

04 December 2012, the latest Illinois Worker Adjustment and Retraining Notification Act (WARN) report shows another Kmart is being closed in Illinois.

Here’s the latest list:

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).

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).

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 Sears to be closed by 03 February 2013 (69 jobs lost), Hialeah Kmart (67 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), recently revealed Lombard Kmart (70 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, and recently revealed Flint Kmart (46 jobs lost).

Minnesota: Willmar Kmart, Duluth Kmart, New Hope Kmart, White Bear Lake 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).

New Jersey:  Lawnside Kmart (about 80 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).

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).

Pennsylvania: Upper Darby Sears Full line, Pottstown Sears Full line, Pittsburgh Kmart, Wilkins Sears.

South Carolina: Sumter Sears (at least 40 jobs lost), Orangeburg Sears (approximately 50 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).

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

Washington: Bellis Fair Mall (Bellingham store, see above)

Minnesota: Apache Mall

Illinois: Market Place Shopping Center

International, U.S.

World War 3: Iranian officials remind the U.S. of their threat of action over U.S. spy drones

“Americans were warned that if they violate our borders we would take action to protect our sovereignty.”-Ali Akbar Salehi, Iran’s Foreign Minister, rough translation from Iranian news source

04 December 2012, Salehi said Iran formally protested to the United States, and reminded the Obama administration that they will defend their country “by any means”.

Salehi said it is the U.S. that is repeatedly violating Iran’s sovereignty.  The latest drone capture is more proof. However, Salehi made it sound like capturing U.S. drones is part of legal ‘action’ Iran will take against the U.S., as they will use the captured drones as evidence against the U.S. in international courts.

International, Technology, U.S.

World War 3: Iran displays drone that U.S. media says isn’t missing. U.S. Navy did not say it isn’t missing, USN said “all accounted for” which is not the same thing.

“The new U.S. failure in spying operation by this drone demonstrated that the U.S. government, despite its high military and economic power and its dominance on the world political order, is not capable of confronting the Islamic Iran…”-Brigadier General Hossein Salami, Islamic Revolution Guards Corps

04 December 2012, despite the USN insisting that it is not missing any ScanEagle drones (specifically saying all drones were “accounted for” but that doesn’t mean they have them in their possesion, it simply means they know where they are), Iran has put on display something that looks exactly like a ScanEagle.

Earlier U.S. media reports said the Iranian video didn’t allow anyone to see any clear markings. However, the ScanEagle is the only drone that looks the way it does, and most operational drones don’t carry obvious markings anyway.

I watched some U.S. posted videos of the captured ScanEagle and noticed some edited out the parts that showed the sophisticated optical system in the nose of the drone.  The Iranian video clearly shows it, and even shows members of the IRCG gawking at it. However, it is interesting that the IRCG managed to get the just captured drone put on public display so fast.

If the Iranians did not capture a Scan Eagle then they’ve made a detailed mock up of the drone, so detailed that they must have access to data about the Boeing/Insitu drone.

Opinion, U.S.

2nd U.S. Civil War: How many cops does it take to kill two black skinned people armed with soda pop can? 12 white cops, 1 brown skinned cop and 137 bullets! Or: Drink & drive & get shot hundreds of times! Or: Why gun control is evil! Medical examiner officially calls it Homocide! Audio reveal cops blatantly lieing about situation!

“We want to ensure the community that this will be fully and fairly investigated.”-Ohio Bureau of Criminal Investigation, 03 December 2012 statement

“….multiple (24) gunshot wounds of head, neck, trunk, and left arm with multiple visceral, vascular, and skeletal injuries. HOMICIDE.”-04 December 2012, Cuyahoga County Medical Examiner’s Office statement referring to female victim

On 29 November 2012, 13 Cleveland city cops chased down two unarmed black people (a man and a woman) then blasted them with 137 rounds of ammo!

12 of the 13 cops are white skinners, one is a brown skinner.

From the beginning there were doubts about the cops’ explanation.  They said the 22-25 minute car chase started when a cop claimed he heard a gunshot aimed at the police headquarters, however no evidence of a gunshot at that location has been found (like a bullet, bullet hole or casing).  Another cop said the man and woman pointed a gun at them during the car chase, however no gun was found in the victim’s car.

A local news source said the police justified shooting the victims 137 times because they ran into a police car.  The cop car that was hit was being used as a barricade anyway, called a “zone car”.

Police officials have released an audio recording of the police chase (hear it here).  The recordings are from 1st, 2nd, 3rd and 5th police districts.  In it you can heard 2nd district cops making up claims about their victims, such as they were shooting at cop cars and they shot a policeman (1st district dispatcher disputes it), none of which happened.  A 2nd district cop clearly says the victims are “possibly loading a weapon”, again no weapon was ever found, and no evidence of gunshots from the victims.  Dispatchers request 1st and 3rd district cops to stay out of chase! 3rd district dispatcher says a man is pointing a gun out the back window of the car. At one point a 2nd district cop clearly says “everybody’s in custody”, when in fact they were dead!  A 5th district dispatcher says “It’s not a gun, it’s a pop can in his hand!”

Some reports say the cops are on paid vacation, I mean paid administrative leave. Other reports say they’re on “desk duty”.  (where’s the mainstream media on this one? And why is the main stream media so infatuated with gun control [Bob Costas anyone?] after a football player who, probably suffering from past head injuries and the effects of his prescription meds, killed his wife and himself?)

It was reported that the Cleveland Police Foundation (CPF) has been actively taking guns away from citizens, through a gun buy back program.  In the month of October alone, they bribed citizens out of 298 guns.

The donation funded program started in 2010.  It involves seven police charities (by contrast here in Idaho our local police/sheriff has always told us not to donate to “police charities”, as they have not authorized any charity to represent them).  On 17 November the CPF held a fundraising ball, and even Steven Dettelbach of the U.S. Department of Justice, north Ohio district, attended.

Obviously it’s an elitist thing because tickets to the ball started at $150 USD, and “table packages” started at $2,500.

We are already in the second U.S. civil (ethnic & class) war.