Tag Archives: wall street

Business/Economics, U.S.

What Economic Recovery? Updated list of more Kmart and Sears closings! Huge losses for Sears Holdings! North Carolina to lose another 53 jobs!

16 November 2012, Sears Holdings reported a 23rd consecutive quarterly drop in sales, for its third reporting quarter this year.

A $498 million USD net loss (at the same time last year it was a $421 million loss)!  The loss is mostly blamed on a sales drop of 5.8% (but don’t forget that Sears reduced its inventory by almost $1 billion, leaving less for consumers to buy).  Analysts do not think Sears Holdings will survive: “Sears is in a very weak operating condition and is not well positioned to recover.”– Matt McGinley, International Strategy & Investment Group

Here’s the updated closing list, with the newest victim in North Carolina:

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).

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 Kmart on Airport Boulevard closed in 2011, Pensacola Kmart on Mobile Highway 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).  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.

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), recently revealed Asheville Kmart (53 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

Business/Economics, International

How the Rich get Richer: Filthy rich Queen of England pays maid minimum wage!

“Workers who clean the royal houses for millions of visitors to enjoy will not tolerate poverty pay.”-Mark Serwotka, Public and Commercial Services union

Apparently unaware of the economic conditions for the average Brit, the Queen of England recently advertised for a maid on her website.  The Queen, who gets a huge amount of her wealth from taxes paid by the common folk, offered only 30 hours per week at minimum wage (about $10.50 USD in Merry Olde England)!

The recommended living wage in the city of London is about $13.50 USD per hour.

“This looks really bad. Since the Queen receives considerable support from the public purse she should pay a living wage, not just barely a minimum wage. She’s setting a bad example to other employers. Windsor is in one of the 12 most affluent boroughs in the country, so you would anticipate the cost of living would be that much higher. I would hate to see a return to the Victorian days where a privileged elite preside over the unwashed masses and just pay the bare minimum.”-Grahame Morris, Labour Member of Parliament for Easington, County Durham

Business/Economics, International, U.S.

Sears & Kmart news: Losses for Canada! Lawsuits against Kenmore! Millions of shiny sh*t for Kmart shoppers?

14 November 2012, Sears Holdings reports it has completed it’s sell off of about 44% of its stocks in Sears Canada.  According to reports Sears Holdings issued the shares of Sears Canada only to those investors who were Sears Holdings stock holders.  Sears Holdings/Hoffman Estates still controls 51% of Sears Canada.

This comes as Sears Canada reports a loss for the most recent quarter, $21.9 million!  Same store sales dropped 5.7% compared to the same time last year (and last year was down as well). CEO, Calvin McDonald, took it as good news, kinda: “Although we made progress in the quarter, we can and must do more. Our plan is working, however our pace of execution has not met our expectations.”

The U.S. Court of Appeals now says Sears can face class action lawsuit over its Kenmore/Whirlpool washing machines.  People are complaining that the front loading environmentally friendly washing machines do not clean themselves properly, leading to mold build up and stinky clothing (say, I was tricked into getting one of those things, and they’re right [you do have to run a bleach wash every month and leave the door open after every load]!  Not only that but the darn thing doesn’t even hold 3/4s the amount of clothes my old cheap top loader could hold).  Legal complaints have already been filed in California, Indiana, Illinois, Kentucky, Minnesota and Texas.

The Los Angeles Times challenged the cast of Million Dollar Decorators to find items at Kmart that would satisfy their decorator tastes.  Of course they went for items with celebrity names on them.  Anyone who’s shopped at Kmart, or even Walmart, and bought anything endorsed by a celebrity should know it’s still a piece-o-crap!  Most everything sold at the ‘discount’ retailers have been dumbed down at the factory in order to meet the lower profit margin of those stores.  Even Mary McDonald admitted you can’t make shit shine (actually the cast of Myth Busters discovered a way to make shit shine): “If you try to make something fancy inexpensively, it often looks cheap.”

 

 

Business/Economics, U.S.

What Economic Recovery? Updated list of more Kmart and Sears closings! West Virginia & Oklahoma! More than a hundred people added to the unemployment lists!

13 November 2012, more closings announced. A Kmart in West Virginia and a Sears in Oklahoma.

One of the stores is owned by General Growth properties (GGP). GGP officials say they are still deciding what to do with their other Sears stores.

Here’s the updated 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).

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 Kmart on Airport Boulevard closed in 2011, Pensacola Kmart on Mobile Highway 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).  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.

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).

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: Recently revealed 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: Recently revealed 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: U.S. occupation of Afghanistan; 09 – 12 November 2012. Sudden increase in sexual crimes, cops rape boy! Increase in violence against women! Children working on farm fields considered terrorists! More Green on Blue attacks! Sweden decides to extend military mission. Karzai blasts U.S. dominated Security Council!

12 November 2012

In Helmand Province, Mujahideen blew up a bulldozer with an 82mm recoilless gun.  It happened at a U.S./NATO outpost in Charkhakyano Manda area of Sangin district.

ISAF said: “An International Security Assistance Force service member died following an insurgent attack in eastern Afghanistan today.”

In Paktia Province, Mujahideen claim U.S./NATO forces abandoned one of their largest bases, in the Zazi Aryub district.  Some reports say the base was destroyed.

Several days of witnesses testifying at the trial of U.S. Army sergeant Robert Bales, said there was no way he did the murders by himself.  A woman testified that while one U.S. soldier entered their house and killed her husband, another U.S. soldier blocked the doorway. Local police say it was too much work for one man: “One person cannot do this work. One person doesn’t have the courage to go from one village to another in the night.”-Afghan cop who investigated the morning after the murders.

India and Afghanistan have signed four economic agreements worth $2 billion.

In Herat Province, police arrested three fellow cops on suspicion that they sexually assaulted and then killed their neighbor’s 13 years old son.  Afghan officials have noted that there has been a sudden increase in sexual crimes, in the past few months.

In Logar Province, a U.S./NATO drone strike killed three teenagers.  They were working in farm fields.  U.S./NATO officials say they were Mujahideen planting landmines.

In Farah Province, Mujahideen attacked a U.S./NATO fuel supply convoy.  They claim to have destroyed 11 fuelers and two buses.  Witnesses say they saw two drivers burn to death.  Mujahideen claim they killed at least 15 drivers and security guards.

11 November 2012

In Helmand Province, an Afghan National Army (ANA) soldier killed a U.S./NATO soldier.  Local officials say it was caused by an argument, and it was a British Red Coat that got killed.  ISAF said only: “An International Security Assistance Force service member died when an individual wearing an Afghan National Army uniform turned his weapon against ISAF service members in southern Afghanistan today.”

In Kandahar Province, a bomb was planted in a cart.  It exploded, but there are no reports of casualties.  Also, a bus ran over a landmine, killing eight people.

In Khost Province, officials reported a large explosion in Sabari district, no one was hurt. Also, a family of at least five were killed when they drove over a landmine. They were returning from the hospital were the woman just gave birth.

In Daykundi Province, Mujahideen claim they captured food supplies from local police. They say they captured 30 bags of flour, 20 parcels of rice, 13 cartons of cooking oil, six parcels of sugar, two parcels of beans and 20 kilos of tea.

10 November 2012

In Kandahar Province,  Mujahideen claim to have killed five U.S./NATO troops, with a remote detonated bomb.  It’s the same area where U.S. soldiers massacred people in two villages.  The U.S. claims only one soldier carried out the killings; Robert Bales.  Also, a local cop joined the Mujahideen.

In Badghis Province, reports are confusing, but one or two ANA soldiers shot at Spanish/NATO troops. Some reports say none of the Spanish provincial reconstruction team members were hit, other reports say one was wounded. Also, some reports say a ANA soldier was killed, while other reports say two ANA soldiers were arrested. A 12 years old boy was also wounded.  Mujahideen claim that one Spanish soldier was killed and three wounded.

In Khost Province, a woman was killed, and 10 people wounded when a bicycle bomb went off.

In Kunar Province, a U.S./NATO airstrike wounded three children. Local officials say the U.S. bombed anti-U.S. demonstrators.   U.S./NATO/ISAF officials considered the demonstration a gathering of Mujahideen, even though it included children.

09 November 2012

ISAF said: “An International Security Assistance Force service member died following an insurgent attack in eastern Afghanistan today.”

In Herat Province, a woman and her baby were killed by the father.  Police say it happened after the husband and wife got into an argument.  Investigators say at least 30 woman have been killed in Herat, under similar circumstances, in the past eight months.

In Balkh Province, a 22 years old man was arrested for raping a five years old girl.  The rape allegedly took place the night before at a wedding party.  The child was sent to the hospital.

Sweden announced it will begin withdrawing its troops from Afghanistan by the end of 2013.  This is actually an extension, as Sweden was to begin pulling out by the summer of 2013.

India signs deal to train 600 Afghan army officers per year.  India, along with China, has agreed to help support the Afghan National Army after the U.S./NATO withdrawal in 2014.

President Hamid Karzai demanded an end to the U.S. dominated UN Security Council: “Coming to the global democratic governance, I think there is no disagreement here, that it isn’t just nor is it very democratic, the Security Council does not represent all of us, the five permanent members having the right of veto is not democratic and the relationship between the Security Council and the General Assembly is not democratic…”

 

 

 

International, U.S.

Character does matter! So called Christian USMC General John Allen connected to David Patreaus affair? Is the Obama administration simply cleaning house?

13 November 2012, now U.S. Marines Corps General John Allen is being investigated for “inappropriate communications” with females who’re connected to the David Patreaus affair.

I posted how the Patreaus affair might just be an excuse for the former Army General to stop working for President Barack Obama, after all some U.S. media sources said they didn’t really see eye to eye.

Is it the case that USMC General John Allen also has a problem working for Obama? This new twist in the Patreaus investigation was announced by Defense Secretary and Obama lackey Leon Panetta.  The order to investigated Allen came directly from Panetta.

Allen was supposedly going to be promoted to top commander of North Atlantic Treaty Organization (NATO).

The Patreaus/Allen connection involves an female “unpaid social liaison” at MacDill Air Force Base in Florida (makes you wonder what really goes on at the top of Central Command).  An unbelievable 30,000 pages worth of emails and other documents of communications with the unpaid non-government social liaison are being reviewed!  Why would anyone need to have that much documented communications with an non-governmental  “unpaid social liaison”?

An unnamed Obama official told the U.S. media this morning that Allen could face prosecution under the U.S. Uniform Code of Military Justice (UCMJ).

Panetta refused to answer questions about Allen’s current service in Afghanistan.

Perhaps there is something to be concerned about, but such shenanigans by higher ups in the military are not unusual.  Is is just coincidence that suddenly, after a President gets re-elected, two top military officials, who are known not to agree with the President, are on their way out?

 

Business/Economics, U.S.

What Economic Recovery? Most main stream U.S. media ignoring reports that thousands of small banks will fail, analyst blame the status quo! All part of the IMF’s orders to deleverage!

On 08 November 2012, there was a conference, put on by Mergermarket, in which analysts warned that the 7,000 small banks left in the United States could soon be reduced to just a few hundred.

The analyst, many of whom work for the Too Big to Fail banks, said that at least half of all small banks are in trouble money wise, and that at least 2,000 need to be sold (read ‘taken over by the big banks’).  The analysts said the whole process will take another ten years to complete!

The analysts also tried to blame it on the elections, saying it’s for certain the Dodd-Frank rules will become permanent.

One of the results of the destruction of the small banks is that it will reduce the availability of loans by 10%.  Regardless of the election results, this actually sounds like an attempt to meet the orders of the International Monetary Fund, and World Bank, in deleveraging the country.

A CNN/Money/Fortune analyst pointed out that it’s actually the Too Big to Fail Banks who dominate the loan market, about 90%!  Also, because of this loan monopoly by the Big Banks, their outrageous interest rates and fees are costing consumers (those who can get credit) an estimated $100 billion per year!

Since it’s the Too Big to Fails who dominate the loan/credit market, perhaps this is their way to avoid complying with the IMF and World Bank orders to deleverage, by using a red herring argument to shift attention onto the more consumer friendly small banks (plus they get to kill off even more competition)?

“I’d say that’s pretty good evidence that we should figure out a way to keep small banks around.”-Stephen Gandel

 

Business/Economics, U.S.

What Economic Recovery? Updated list of more Kmart and Sears closings! More closings in Illinois! Iowa to lose almost one hundred more jobs!

“There isn’t a Kmart left in the area. This is not their strong suit. But they’ve been a good tenant over the years and good for Streator. Streator had nothing without them. We were happy to have them as long as we did.”-Wayne Fieldman, retail property owner

10 November 2012, it was revealed that a Sears in Coralville, Iowa, and the  Kmart in Streator, Illinois, will close by the end of January.

When Sears Holdings officials announced the closing of the Pontiac, Illinois, Kmart they said employees could apply for jobs at nearby Bloomington and Streator stores: “…opportunity to apply at other Sears and Kmart stores in the area.”-Chris Brathwaite

Problem is, those stores are closing as well!  (at this point reports are unconfirmed about Bloomington, Illinois, store closing)

In Opelika, Alabama, it was announced that a Sears Hometown store will be opening by the end of January.  Don’t get excited.  Sears Hometown stores sell Sears products but they’re independently owned.  The owner says he will employ only ten people.

Here’s the updated list, with the Illinois addition.

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).

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 Kmart on Airport Boulevard closed in 2011, Pensacola Kmart on Mobile Highway 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), recently revealed Streator Kmart (45 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), recently revealed 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.

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).

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.

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).

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

Hawaii: Ala Moana Center

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

Minnesota: Apache Mall

Illinois: Market Place Shopping Center

Business/Economics, International

Greek Civil War & What Economic Recovery? More proof it’s the fault of the Too Big to Fails!

“In the next few days, we need an agreement on further measures in Greece and additional aid from the other euro area countries to ensure debt sustainability.”-Joerg Asmussen, European Central Bank (ECB)

This statement comes after Greece enacted more government spending cuts, and the Greek Prime Minister promised no more.

Asmussen, of the ECB, said even with the new cuts Greece will not meet the demands of creditors!  The boss of the ECB, Mario Draghi, said Greece is now at the mercy of creditors because the ECB has reached its limit, in being able to help Greece, under current European Union laws.  All this chaos in Greece because of creditors!

This is what a Greece newspaper, Ta Nea Daily, had to say: “Greece cannot take it – and in any case the government will not survive it.”

 

 

 

International

Queen of England appoints oil executive as new Archbishop of Canterbury

09 November 2012, the Queen of England (who is also the “pope” of the Church of England) has appointed Justin Welby as the new Archbishop of Canterbury.

He is an evangelical who supports women as church leaders, and despite his recent anti-homophobia statements, is considered by some people to be anti-homosexual.

He has worked in the House of Lords (den of the elites), and prior to working for the “church” he worked for the French oil company Elf Aquitaine, then became the treasurer for Enterprise Oil of London.