Wednesday, November 21, 2012
Sunday, November 18, 2012
Economic Stories of Relevance in Today's World -- November 18, 2012
Economists cut U.S. Q4 growth forecasts: survey - Reuters - November 8, 2012 - Forecasters cut their expectations for U.S. economic growth in the fourth quarter, though the labor market was seen holding on to recent improvement, a survey released on Friday showed. Economists expect the economy to grow at an annual rate of 1.8 percent in the current quarter, down from the previous estimate of 2.2 percent growth, according to the Philadelphia Federal Reserve's fourth-quarter survey of 39 forecasters. While that left estimates for gross domestic product for the year unchanged at 2.2 percent, growth in 2013 looked modestly weaker with economists forecasting 2 percent, down from 2.1 percent.
The Worst Economic Numbers In More Than A Year - The Economic Collapse Blog - Michael - November 15th, 2012 - With everything else that is going on in the world, a lot of people have failed to notice that we are seeing some of the worst economic numbers that we have seen in more than a year. For example, it was announced on Thursday that initial claims for unemployment benefits have hit their highest level in a year and a half. Hopefully this is just a temporary blip in the data, because initial unemployment claims tend to have a very strong correlation with the overall performance of the economy. We also continue to see poverty statistics rise. According to government statistics released earlier this month, the number of Americans living in poverty and the number of Americans on food stamps are both at all-time record highs. Meanwhile, the Dow and the S&P 500 are both down more than 5 percent since the election and the U.S. government rolled up 22 billion dollars more debt in October 2012 than it did in October 2011. The unfortunate truth is that things are not getting better. The U.S. economy continues to become weaker and more unstable, and there are a whole lot of reasons to be very pessimistic about our economic situation as we move into the winter months. Let's take a closer look at some of the troubling economic numbers that have been released in recent days...
Warren Buffett Guts the News - Manassas News & Messenger and InsideNoVA.com, top Prince William news sources, closing down - Washington Post Local - Tom Jackman - November 14, 2012 - When investor and newspaper fan Warren Buffett bought the Media General newspaper chain last year, there was hope for all of them, including the Manassas News & Messenger and the Richmond Times-Dispatch.But Buffett’s company announced today it is shutting down the News & Messenger after 143 years, as well as its highly informative Web site, InsideNoVA.com. It is the only paper in the Media General chain being shuttered by World Media Enterprises, a division of Buffett’s Berkshire Hathaway Inc. This is horrendous news for everyone in Prince William County and those who care about Prince William news. The News & Messenger and InsideNoVA are the definitive source of news in Prince William. Their reporters and editors work extremely hard to cover government, breaking news, high school sports, the latest lottery winners, everything. InsideNoVA also has a Facebook page with more than 26,000 followers, and when they post stories there they get plenty of reaction . Reaction that isn’t standard anonymous-crazy comments because people must use their Facebook accounts to post, which makes a lot of sense. World Media chairman Terry Kroeger told me this morning there was ”a lot of competition for the ad dollars.” I whined and complained about losing the biggest news source in a county of 400,000 people. “It is too bad,” Kroeger said. “We didn’t see a way to take the negative financial momentum and turn it positive. We didn’t take this lightly. We worked very hard to develop their plans, and we just could not get there.” I pointed out that InsideNoVA had a large following on Facebook and seemed to be working well in the digital world. “They put a lot of emphasis on their digital products,” Kroeger said, “so their print circulation fell even further.” The print circulation is about 10,000. When Buffett bought the 63 papers in the Media General chain, he said: “In towns and cities where there is a strong sense of community, there is no more important institution than the local paper. The many locales served by the newspapers we are acquiring fall firmly in this mold and we are delighted they have found a permanent home with Berkshire Hathaway.” This is actually the closing of two newspapers, since the Potomac News and the Manassas Journal Messenger merged in 2008. World Media said all 33 people working for the paper and Web site would lose their jobs, along with 72 others in the Media General corporate structure. There are a lot of talented and hard-working journalists at the News & Messenger and InsideNoVA and they deserve our respect and thanks. They didn’t deserve to be shut down after 143 years of public service.
Feds gave battery firm $1M on day of bankruptcy filing - USA Today - By Nathan Bomey, Detroit Free Press - November 17, 2012 - Electric car battery maker A123 Systems received a $946,830 check from the U.S. Energy Department on the day it filed for Chapter 11 bankruptcy last month -- providing more ammunition for critics who say the Obama administration is blindly funding failed clean energy companies. The Waltham, Mass.-based company also told two U.S. senators in a letter this week that it may seek more money from the $249.1-million Energy Department stimulus award it won in 2009. A123's Oct. 16 check was the latest payment as part of the original grant, which is distributed incrementally as the company meets certain benchmarks. A123 has received $133.3 million of the grant so far based on its investments in new battery plants in Livonia and Romulus, Mich.... Meanwhile, A123 also came under scrutiny from a federal trustee charged with providing oversight in bankruptcy cases for the size of its proposed performance bonuses for senior executives. The original bonuses, priced at a total of $2.4 million to $4.2 million for 10 employees, were reduced by 12.5% by a bankruptcy judge. A123, formed a decade ago with intellectual property from the Massachusetts Institute of Technology, promised to add thousands of jobs in Michigan after winning the federal grant -- as well as more than $125 million in tax credits and grants from the Michigan Economic Development Corp. in 2008 and 2009.
Is The 29 Hour Work Week Coming As Employers Seek To Escape The Obamacare Mandate? - CNSNews - Craig Bannister - November 12, 2012 - Businesses with 50 or more employees who average at least 30 hours of work a week will be subject to the Obamacare insurance coverage mandate. Companies are reportedly planning large layoffs due to the implementation of Obamacare. But, companies can potentially avoid being subject to Obamacare's insurance requirements by limiting employees’ weekly hours to less than the 30 hour level defined by Obamacare as “full-time.” A little-known section in the ObamaCare health reform law defines “full-time” work as averaging only 30 hours per week, a definition that will affect some employers who utilize part-time workers to trim the cost of complying with the ObamaCare rule that says businesses with 50 or more full-time workers must provide health insurance or pay a fine. “The term ‘full-time employee’ means, with respect to any month, an employee who is employed on average at least 30 hours of service per week,” section 1513 of the law reads. (Scroll down to section 4, paragraph A.) That section, known as the employer mandate, requires any business with 50 or more full-time employees to provide at least the minimum level of government-defined health coverage to those employees. In other words, a business must provide insurance if it has 50 or more employees working an average of just 30 hours per week, which is 10 hours per week fewer than the traditional 40-hour work week. Thus, by cutting employees’ hours to ensure they average less than the 30 per week, employers could potentially avoid the cost of providing the minimum insurance levels mandated by Obamacare.
Job Cuts Announced At Wake Forest Baptist Medical Center - WFMY (Greensboro, NC) - November 14, 2012 - Cost-cutting at Wake Forest Baptist Medical Center will cause 950 full-time positions to be eliminated by June 30, 2013, the healthcare provider announced Wednesday. In a news release, WFBMC said about half of the layoffs will come from "vacant, temporary and contract labor positions, as well as normal attrition and retirements." As many as 475 current employees -- about 3.5 percent of the company's workforce -- will get pink slips. While the staff reductions won't be complete until next summer, 76 employees are being laid off this week. WFBMC says those workers will still get their full pay and benefits through Jan. 4, 2013. Everyone who is being laid off will get severance pay. The medical center says the job cuts "will not affect nurse-to-patient ratios [or] the quality of patient care."
Banks told by Fed to test for 12% unemployment - Marketwatch - Ronald D. Orol - November 15, 2012 - The Federal Reserve is asking 30 big banks to make sure their capital can withstand a deep recession in which the unemployment rate rises to 12%. The Fed, which first required big banks to conduct “stress tests” in 2009, laid out three scenarios lenders have to test against. The goal is to ensure that the firms have enough capital to continue operations during stressful economic times. The Fed stressed they were not making economic forecasts “but rather hypothetical scenarios designed to assess the strength of financial institutions in stressful economic environments.” In addition to considering an unemployment rate of roughly 12% — up from 7.9% in October — in the most severe recession scenario, banks must evaluate how their capital buffers would withstand real GDP declining by around 5%. Banks will also have to test for equity prices that would fall by more than 50% over the course of the recession, with house prices declining more than 20% and with commercial real estate prices falling by a similar amount. While harsh, the Fed stress test isn’t necessarily as bad as conditions actually were during the so-called Great Recession from late 2007 to 2009. The unemployment rate rose from 4.7% before the recession started in Nov. 2007 to as high as 10%, the economy shrank as much as 8.9% during one quarter, and home prices have tumbled by roughly a third from their peak....
ROUBINI: Perfect Storm Or Not, 2013 Looks Awful - Business Insider - Lucas Kawa - November 16, 2012 - ...The perfect storm is not my baseline scenario. My baseline scenario is one of low economic growth in advanced economies and recession in some of them, like the euro zone, like the U.K., like Japan but not recession in the U.S., slower economic growth in emerging markets; that’s the baseline. But there could be a situation in which you could have a perfect storm that would happen if there is a fiscal cliff in the United States that tips the US into a recession, if the euro zone crisis gets worse and there is an exit of Greece that is disorderly, if the landing of China becomes a hard landing of China, and four, if we really had a war in the Middle East between Israel and Iran and oil prices go to $200/barrel...
Census: U.S. Poverty Rate Spikes, Nearly 50 Million Americans Affected - CBS News/AP - November 15, 2012 - As President Barack Obama is set to begin his second term, new statistics on America’s poverty rate indicate that nearly 50 million Americans, more than 16 percent of the population, are struggling to survive. New figures released by the Census Bureau this week found a spike in poverty numbers last year, going from 49 million in 2010 to 49.7 million last year. The numbers may come as a surprise to Congress, which estimated in September that the poverty rate would drop to 46.2 million. One of the most startling findings showed that almost 20 percent of American children continue to live in poverty. The Associated Press reports that the new figures are based on an updated formula devised by the Census Bureau to help give the government a better understanding for how to use safety-net programs. The numbers found that Hispanics and people living in urban areas had a higher chance of struggling to make it financially. Poverty among full-time and part-time workers also saw a jump from its 2010 number...
Ceilings, Cliffs and TAG - 3 Immediate Risks - StreeTalkLive.com - Lance Roberts - November 16, 2012 -
1 in 7 people now on Food Stamps in America
The Worst Economic Numbers In More Than A Year - The Economic Collapse Blog - Michael - November 15th, 2012 - With everything else that is going on in the world, a lot of people have failed to notice that we are seeing some of the worst economic numbers that we have seen in more than a year. For example, it was announced on Thursday that initial claims for unemployment benefits have hit their highest level in a year and a half. Hopefully this is just a temporary blip in the data, because initial unemployment claims tend to have a very strong correlation with the overall performance of the economy. We also continue to see poverty statistics rise. According to government statistics released earlier this month, the number of Americans living in poverty and the number of Americans on food stamps are both at all-time record highs. Meanwhile, the Dow and the S&P 500 are both down more than 5 percent since the election and the U.S. government rolled up 22 billion dollars more debt in October 2012 than it did in October 2011. The unfortunate truth is that things are not getting better. The U.S. economy continues to become weaker and more unstable, and there are a whole lot of reasons to be very pessimistic about our economic situation as we move into the winter months. Let's take a closer look at some of the troubling economic numbers that have been released in recent days...
Warren Buffett Guts the News - Manassas News & Messenger and InsideNoVA.com, top Prince William news sources, closing down - Washington Post Local - Tom Jackman - November 14, 2012 - When investor and newspaper fan Warren Buffett bought the Media General newspaper chain last year, there was hope for all of them, including the Manassas News & Messenger and the Richmond Times-Dispatch.But Buffett’s company announced today it is shutting down the News & Messenger after 143 years, as well as its highly informative Web site, InsideNoVA.com. It is the only paper in the Media General chain being shuttered by World Media Enterprises, a division of Buffett’s Berkshire Hathaway Inc. This is horrendous news for everyone in Prince William County and those who care about Prince William news. The News & Messenger and InsideNoVA are the definitive source of news in Prince William. Their reporters and editors work extremely hard to cover government, breaking news, high school sports, the latest lottery winners, everything. InsideNoVA also has a Facebook page with more than 26,000 followers, and when they post stories there they get plenty of reaction . Reaction that isn’t standard anonymous-crazy comments because people must use their Facebook accounts to post, which makes a lot of sense. World Media chairman Terry Kroeger told me this morning there was ”a lot of competition for the ad dollars.” I whined and complained about losing the biggest news source in a county of 400,000 people. “It is too bad,” Kroeger said. “We didn’t see a way to take the negative financial momentum and turn it positive. We didn’t take this lightly. We worked very hard to develop their plans, and we just could not get there.” I pointed out that InsideNoVA had a large following on Facebook and seemed to be working well in the digital world. “They put a lot of emphasis on their digital products,” Kroeger said, “so their print circulation fell even further.” The print circulation is about 10,000. When Buffett bought the 63 papers in the Media General chain, he said: “In towns and cities where there is a strong sense of community, there is no more important institution than the local paper. The many locales served by the newspapers we are acquiring fall firmly in this mold and we are delighted they have found a permanent home with Berkshire Hathaway.” This is actually the closing of two newspapers, since the Potomac News and the Manassas Journal Messenger merged in 2008. World Media said all 33 people working for the paper and Web site would lose their jobs, along with 72 others in the Media General corporate structure. There are a lot of talented and hard-working journalists at the News & Messenger and InsideNoVA and they deserve our respect and thanks. They didn’t deserve to be shut down after 143 years of public service.
Feds gave battery firm $1M on day of bankruptcy filing - USA Today - By Nathan Bomey, Detroit Free Press - November 17, 2012 - Electric car battery maker A123 Systems received a $946,830 check from the U.S. Energy Department on the day it filed for Chapter 11 bankruptcy last month -- providing more ammunition for critics who say the Obama administration is blindly funding failed clean energy companies. The Waltham, Mass.-based company also told two U.S. senators in a letter this week that it may seek more money from the $249.1-million Energy Department stimulus award it won in 2009. A123's Oct. 16 check was the latest payment as part of the original grant, which is distributed incrementally as the company meets certain benchmarks. A123 has received $133.3 million of the grant so far based on its investments in new battery plants in Livonia and Romulus, Mich.... Meanwhile, A123 also came under scrutiny from a federal trustee charged with providing oversight in bankruptcy cases for the size of its proposed performance bonuses for senior executives. The original bonuses, priced at a total of $2.4 million to $4.2 million for 10 employees, were reduced by 12.5% by a bankruptcy judge. A123, formed a decade ago with intellectual property from the Massachusetts Institute of Technology, promised to add thousands of jobs in Michigan after winning the federal grant -- as well as more than $125 million in tax credits and grants from the Michigan Economic Development Corp. in 2008 and 2009.
Is The 29 Hour Work Week Coming As Employers Seek To Escape The Obamacare Mandate? - CNSNews - Craig Bannister - November 12, 2012 - Businesses with 50 or more employees who average at least 30 hours of work a week will be subject to the Obamacare insurance coverage mandate. Companies are reportedly planning large layoffs due to the implementation of Obamacare. But, companies can potentially avoid being subject to Obamacare's insurance requirements by limiting employees’ weekly hours to less than the 30 hour level defined by Obamacare as “full-time.” A little-known section in the ObamaCare health reform law defines “full-time” work as averaging only 30 hours per week, a definition that will affect some employers who utilize part-time workers to trim the cost of complying with the ObamaCare rule that says businesses with 50 or more full-time workers must provide health insurance or pay a fine. “The term ‘full-time employee’ means, with respect to any month, an employee who is employed on average at least 30 hours of service per week,” section 1513 of the law reads. (Scroll down to section 4, paragraph A.) That section, known as the employer mandate, requires any business with 50 or more full-time employees to provide at least the minimum level of government-defined health coverage to those employees. In other words, a business must provide insurance if it has 50 or more employees working an average of just 30 hours per week, which is 10 hours per week fewer than the traditional 40-hour work week. Thus, by cutting employees’ hours to ensure they average less than the 30 per week, employers could potentially avoid the cost of providing the minimum insurance levels mandated by Obamacare.
Job Cuts Announced At Wake Forest Baptist Medical Center - WFMY (Greensboro, NC) - November 14, 2012 - Cost-cutting at Wake Forest Baptist Medical Center will cause 950 full-time positions to be eliminated by June 30, 2013, the healthcare provider announced Wednesday. In a news release, WFBMC said about half of the layoffs will come from "vacant, temporary and contract labor positions, as well as normal attrition and retirements." As many as 475 current employees -- about 3.5 percent of the company's workforce -- will get pink slips. While the staff reductions won't be complete until next summer, 76 employees are being laid off this week. WFBMC says those workers will still get their full pay and benefits through Jan. 4, 2013. Everyone who is being laid off will get severance pay. The medical center says the job cuts "will not affect nurse-to-patient ratios [or] the quality of patient care."
Banks told by Fed to test for 12% unemployment - Marketwatch - Ronald D. Orol - November 15, 2012 - The Federal Reserve is asking 30 big banks to make sure their capital can withstand a deep recession in which the unemployment rate rises to 12%. The Fed, which first required big banks to conduct “stress tests” in 2009, laid out three scenarios lenders have to test against. The goal is to ensure that the firms have enough capital to continue operations during stressful economic times. The Fed stressed they were not making economic forecasts “but rather hypothetical scenarios designed to assess the strength of financial institutions in stressful economic environments.” In addition to considering an unemployment rate of roughly 12% — up from 7.9% in October — in the most severe recession scenario, banks must evaluate how their capital buffers would withstand real GDP declining by around 5%. Banks will also have to test for equity prices that would fall by more than 50% over the course of the recession, with house prices declining more than 20% and with commercial real estate prices falling by a similar amount. While harsh, the Fed stress test isn’t necessarily as bad as conditions actually were during the so-called Great Recession from late 2007 to 2009. The unemployment rate rose from 4.7% before the recession started in Nov. 2007 to as high as 10%, the economy shrank as much as 8.9% during one quarter, and home prices have tumbled by roughly a third from their peak....
ROUBINI: Perfect Storm Or Not, 2013 Looks Awful - Business Insider - Lucas Kawa - November 16, 2012 - ...The perfect storm is not my baseline scenario. My baseline scenario is one of low economic growth in advanced economies and recession in some of them, like the euro zone, like the U.K., like Japan but not recession in the U.S., slower economic growth in emerging markets; that’s the baseline. But there could be a situation in which you could have a perfect storm that would happen if there is a fiscal cliff in the United States that tips the US into a recession, if the euro zone crisis gets worse and there is an exit of Greece that is disorderly, if the landing of China becomes a hard landing of China, and four, if we really had a war in the Middle East between Israel and Iran and oil prices go to $200/barrel...
Census: U.S. Poverty Rate Spikes, Nearly 50 Million Americans Affected - CBS News/AP - November 15, 2012 - As President Barack Obama is set to begin his second term, new statistics on America’s poverty rate indicate that nearly 50 million Americans, more than 16 percent of the population, are struggling to survive. New figures released by the Census Bureau this week found a spike in poverty numbers last year, going from 49 million in 2010 to 49.7 million last year. The numbers may come as a surprise to Congress, which estimated in September that the poverty rate would drop to 46.2 million. One of the most startling findings showed that almost 20 percent of American children continue to live in poverty. The Associated Press reports that the new figures are based on an updated formula devised by the Census Bureau to help give the government a better understanding for how to use safety-net programs. The numbers found that Hispanics and people living in urban areas had a higher chance of struggling to make it financially. Poverty among full-time and part-time workers also saw a jump from its 2010 number...
Ceilings, Cliffs and TAG - 3 Immediate Risks - StreeTalkLive.com - Lance Roberts - November 16, 2012 -
1 in 7 people now on Food Stamps in America
Friday, November 16, 2012
City Meetings this week... Inspiring Spaces & the Airport
Went to a couple of City meetings this week. One was for "Inspiring Spaces" on Tuesday night at Highland Rec. Let's say that most of the people who I spoke with that attended those meetings were Uninspired. The meeting was basically a rehash of the presentation made to the City Council a few weeks ago. There is a feeling amongst most people who pay attention that the city has made up it's mind about what it is going to do. It is obvious to most that they have decided that they want to do something along Main Avenue Northeast from the area where it splits off to around City Hall. And on the map that was shown, areas 1 and 2 on the map were (tada) Union Square and the SALT block. In my Yoda voice, "I think that not to be a coincidence."
I really don't think that Hickory Inc. is looking at these cities that they visited properly. They are saying that they invested in their cities and this caused industry to come to those areas and that simply is not the case. They are looking at Greenville, SC and Chattanooga. Those cities development looks great because they landed a couple of auto manufacturers (BMW and Volkswagen respectfully). They have seen major investment in their area's at all levels from the federal and state level associated with these plants and from local businesses. Those plants are highly valuable because they are employment intense industries. In articles about Volkswagen and Chattanooga they state that they came there because of the wage structure.
It is my opinion that the investments that have been made in Hickory of late are not going to resurrect our fortunes and there is really nothing to talk about when it comes to these issues until we start dealing with the run down areas. I am not talking about the look when I say rundown. That is the most superficial aspect of rundown and throwing up some bushes and slapping some paint on those areas is not going to change the dynamics. It is about the marketplace.
There is hope for that old Hollar Hosiery Mill, not because of the renovation, but because of its location and the fact that there are businesses already lined up to move in there. Will it make an earth shattering impact? No, because it only rearranges the deck chairs. People that go there to eat or shop or see a band will be people who go to other restaurants, bars, and stores in the area. So, it will pull customers from those other local existing venues, but no one is going to flock to Hickory to visit those shops. And if it doesn't increase the economic impact on the dynamics of our residents, then it isn't going to make a dent on the overall Economics of the area. But, I will say that it is a feel good effort and it does look better and it is a very good investment, if we do get some labor intense industries in the area that can give people disposable income to spend.
I also went to the airport for the city's special session there. Again in my opinion, there really wasn't a need for a special session there. It was another feel good story and the one thing that I came away with is a feeling that the airport is in very good hands with Terry Clark out there running the show.
As has been pointed out here, and because of actual conversations we have had with people who utilize the airport and its services, the moves that have occurred at the airport are great and they are long overdue. For the most part, they were moves that were recommended by the Airport Taskforce back in 2006. If Hickory Inc. would have followed the recommendations at the time, they would have reaped millions of dollars in revenue through the fuel sales and other operations plus they wouldn't have lost the revenues they did related to airplane owners not wanting their planes parked at the airport. There were also costs associated with the way the previous FBO mismanaged the airport's maintenance and didn't pay their bills in a timely fashion and/or didn't pay bills due to their bankruptcy.
Now, that is all I have to say today. I haven't written as much about the local scene, because really there isn't much going on with the local scene as far as the subjects we delve into here on the Hickory Hound. Now behind the scenes there are developments, but as we wind down 2012, we aren't going to see much coming from the city. It is all under the radar waiting for 2013.
We are, however, interested in seeing what Hickory Inc. is going to try to sneak in at the last City Council meeting before Christmas and the New Year. Remember demolishing the pools and the tent on Union Square both took place at those City Council meetings in 2010 and 2011. We wonder if something that has been kept under the radar related to Inspiring Spaces will occur at those meetings.
I really don't think that Hickory Inc. is looking at these cities that they visited properly. They are saying that they invested in their cities and this caused industry to come to those areas and that simply is not the case. They are looking at Greenville, SC and Chattanooga. Those cities development looks great because they landed a couple of auto manufacturers (BMW and Volkswagen respectfully). They have seen major investment in their area's at all levels from the federal and state level associated with these plants and from local businesses. Those plants are highly valuable because they are employment intense industries. In articles about Volkswagen and Chattanooga they state that they came there because of the wage structure.
It is my opinion that the investments that have been made in Hickory of late are not going to resurrect our fortunes and there is really nothing to talk about when it comes to these issues until we start dealing with the run down areas. I am not talking about the look when I say rundown. That is the most superficial aspect of rundown and throwing up some bushes and slapping some paint on those areas is not going to change the dynamics. It is about the marketplace.
There is hope for that old Hollar Hosiery Mill, not because of the renovation, but because of its location and the fact that there are businesses already lined up to move in there. Will it make an earth shattering impact? No, because it only rearranges the deck chairs. People that go there to eat or shop or see a band will be people who go to other restaurants, bars, and stores in the area. So, it will pull customers from those other local existing venues, but no one is going to flock to Hickory to visit those shops. And if it doesn't increase the economic impact on the dynamics of our residents, then it isn't going to make a dent on the overall Economics of the area. But, I will say that it is a feel good effort and it does look better and it is a very good investment, if we do get some labor intense industries in the area that can give people disposable income to spend.
I also went to the airport for the city's special session there. Again in my opinion, there really wasn't a need for a special session there. It was another feel good story and the one thing that I came away with is a feeling that the airport is in very good hands with Terry Clark out there running the show.
As has been pointed out here, and because of actual conversations we have had with people who utilize the airport and its services, the moves that have occurred at the airport are great and they are long overdue. For the most part, they were moves that were recommended by the Airport Taskforce back in 2006. If Hickory Inc. would have followed the recommendations at the time, they would have reaped millions of dollars in revenue through the fuel sales and other operations plus they wouldn't have lost the revenues they did related to airplane owners not wanting their planes parked at the airport. There were also costs associated with the way the previous FBO mismanaged the airport's maintenance and didn't pay their bills in a timely fashion and/or didn't pay bills due to their bankruptcy.
Now, that is all I have to say today. I haven't written as much about the local scene, because really there isn't much going on with the local scene as far as the subjects we delve into here on the Hickory Hound. Now behind the scenes there are developments, but as we wind down 2012, we aren't going to see much coming from the city. It is all under the radar waiting for 2013.
We are, however, interested in seeing what Hickory Inc. is going to try to sneak in at the last City Council meeting before Christmas and the New Year. Remember demolishing the pools and the tent on Union Square both took place at those City Council meetings in 2010 and 2011. We wonder if something that has been kept under the radar related to Inspiring Spaces will occur at those meetings.
Tuesday, November 13, 2012
Gerald Celente dealing with Impostors
In the past I have used the Gerald Celente Blogspot site for the info that is passed along. I did not realize the implications of all of this. I even had the site in my New Media Bibliography. After receiving the information from Mr. Celente below, I have decided to take down that link and certainly won't link to their articles in the future.
Mr. Celente is the World's leading trend forecaster and his information is highly sought. That is how I first happened upon this Blogspot site as I am sure with many others. This is certainly an issue that Google needs to deal with. One can certainly see how this can affect a person's life and their finances.
KINGSTON, NY, 12 November 2012 — After numerous attempts to deactivate impostor blogs through Google’s “Enforcement of Blogger’s Content Policy,” Gerald Celente has taken action. Last week he filed a federal lawsuit against Google and those running the impostor blogs.
This case could be precedent-setting and have wide implications for the Internet giant who owns the blog hosting service where the impostors flourish with impunity. The lawsuit, filed in New York last Wednesday, claims that malicious bloggers are exploiting Celente's name and trademarks in order to generate revenue for themselves through advertising.
The suit further states that the impostors post inaccurate and offensive information that viewers are led to mistakenly believe comes from Celente, thus doing irreparable harm to his reputation while damaging his business.
Commenting on his lawsuit, Celente observed, “When Google acquired Blogger last April it represented a departure from its business model. Indeed, Google admitted, ‘truth is, we're still figuring a lot of it out.’
“A year later, since Google persists in refusing to act upon its own clearly stated anti-impostor policy, it would appear that either they are ‘still figuring a lot of it out,’ or they’re making so much money from impostor blogs on their AdSense "click-through" advertisements that they just don't care about the extensive and ongoing damage being done,” said Celente.
“Maybe The Google Blogger Team doesn’t actually know what the word ‘impostor’ means,” mused Celente. “The multiple complaints addressed to Google provided detailed information to substantiate my claims of trademark infringement, unfair competition and impersonation, but we receive only evasive, inane responses that fail to address the impostor issue:”
Hello,
Thanks for Your reply.
Blogger is a provider of content creation tools, not a mediator of that content. We allow our users to create blogs, but we don’t make any claims about the URLs or content of these pages. In cases involving trademark, if a contact email address is listed on the blog, we recommend you working directly with the author to have the information in question removed or changed.
Celente contends that Google is one of the few social networking sites that has not yet developed a means for brand owners to protect their trademarks. “I continually read how Google aggressively protects its own intellectual property, why aren’t they applying the same standards when it comes to protecting my intellectual property?” he concluded.
Note: The case is Celente et al. v. Google Inc. et al., case number 1:12-cv-08083, in the U.S. District Court for the Southern District of New York. Celente is seeking injunctive relief and monetary damages for unfair competition, cybersquatting and violations of privacy and publicity rights.
©MMXII The Trends Research Institute®
Mr. Celente is the World's leading trend forecaster and his information is highly sought. That is how I first happened upon this Blogspot site as I am sure with many others. This is certainly an issue that Google needs to deal with. One can certainly see how this can affect a person's life and their finances.
Celente Sues Google For Allowing Impostors
To Steal His Identity
To Steal His Identity
KINGSTON, NY, 12 November 2012 — After numerous attempts to deactivate impostor blogs through Google’s “Enforcement of Blogger’s Content Policy,” Gerald Celente has taken action. Last week he filed a federal lawsuit against Google and those running the impostor blogs.
This case could be precedent-setting and have wide implications for the Internet giant who owns the blog hosting service where the impostors flourish with impunity. The lawsuit, filed in New York last Wednesday, claims that malicious bloggers are exploiting Celente's name and trademarks in order to generate revenue for themselves through advertising.
The suit further states that the impostors post inaccurate and offensive information that viewers are led to mistakenly believe comes from Celente, thus doing irreparable harm to his reputation while damaging his business.
Commenting on his lawsuit, Celente observed, “When Google acquired Blogger last April it represented a departure from its business model. Indeed, Google admitted, ‘truth is, we're still figuring a lot of it out.’
“A year later, since Google persists in refusing to act upon its own clearly stated anti-impostor policy, it would appear that either they are ‘still figuring a lot of it out,’ or they’re making so much money from impostor blogs on their AdSense "click-through" advertisements that they just don't care about the extensive and ongoing damage being done,” said Celente.
“Maybe The Google Blogger Team doesn’t actually know what the word ‘impostor’ means,” mused Celente. “The multiple complaints addressed to Google provided detailed information to substantiate my claims of trademark infringement, unfair competition and impersonation, but we receive only evasive, inane responses that fail to address the impostor issue:”
Hello,
Thanks for Your reply.
Blogger is a provider of content creation tools, not a mediator of that content. We allow our users to create blogs, but we don’t make any claims about the URLs or content of these pages. In cases involving trademark, if a contact email address is listed on the blog, we recommend you working directly with the author to have the information in question removed or changed.
Sincerely,
The Blogger Team
The Blogger Team
Celente suggested that the Google Blogger Team should consult a dictionary for the definition of ‘impostor:’ One who imposes upon others for the purpose of deception; a pretender.
“You don’t need a Philadelphia lawyer to tell you what the word means. Maybe Google would do well to contact Facebook for a lesson in how to address the impostor policy it claims to have but refuses to enforce,” Celente added. “When I complained to the corporation about an impostor site hosted on Facebook, it replied swiftly and responsibly:”
“You don’t need a Philadelphia lawyer to tell you what the word means. Maybe Google would do well to contact Facebook for a lesson in how to address the impostor policy it claims to have but refuses to enforce,” Celente added. “When I complained to the corporation about an impostor site hosted on Facebook, it replied swiftly and responsibly:”
Thank you for bringing this matter to our attention. We have removed or disabled access to the third-party or user-generated content you have reported to us for violating our Statement of Rights & Responsibilities.
Celente contends that Google is one of the few social networking sites that has not yet developed a means for brand owners to protect their trademarks. “I continually read how Google aggressively protects its own intellectual property, why aren’t they applying the same standards when it comes to protecting my intellectual property?” he concluded.
Note: The case is Celente et al. v. Google Inc. et al., case number 1:12-cv-08083, in the U.S. District Court for the Southern District of New York. Celente is seeking injunctive relief and monetary damages for unfair competition, cybersquatting and violations of privacy and publicity rights.
Sunday, November 11, 2012
Economic Stories of Relevance in Today's World -- November 11, 2012
Share This Massive List Of Post-Election Firings And Layoffs With Everyone You Can - Economic Collapse Blog - Michael - November 9th, 2012 - The victory by Barack Obama on election night has resulted in a huge wave of firings and layoffs all over America. A large number of businesses seem to have suddenly shifted into panic mode. The number of layoff announcements that we have seen in the last 48 hours has been absolutely shocking. So why is this happening? Well, the truth is that the federal government is absolutely suffocating small businesses all over America with rules, regulations and taxes. If you have never tried to run a small business, then you have no idea how oppressive this system actually is for people that are trying to run small businesses successfully. It has steadily gotten worse over the years no matter who has been in the White House and no matter who has controlled Congress. So we shouldn't put 100% of the blame on Obama. Bush massively expanded government and made things harder on small business people too. But what many small business people were looking for on this election day was just a little bit of help. Many were desperately holding out hope that Obamacare would be repealed so that they would not have to get rid of some of their employees. Many were hoping to get a little bit of relief from the crippling regulations and taxes that are absolutely crushing them. But now that Barack Obama has been given another four years, they understand that there is no hope on the horizon and that things are only going to get worse. So they are making the hard decisions that they feel are necessary in order to survive in this economic environment. And I certainly don't blame them. You only want to have employees if you can make a profit on them. And in this environment it is getting harder than ever to make a profit on an employee. You see, the truth is that what you cost your employer goes far beyond your salary or your hourly wage. I think many of you would be absolutely shocked if you learned how much it actually costs your employer to employ you. And now thanks to Obamacare, that cost is going to go up even more. Many businesses are not even feasible at all in this economic environment. Many small businesses had been holding out hope that somehow this election might turn things around and make it possible for them to keep going, but when Obama won it was kind of like the straw that broke the camel's back. You can't do what the federal government and the state governments are doing to us and expect to have a thriving economy. They are choking the life out of us. New businesses and small businesses are supposed to be at the heart of our economic system. Unfortunately, the environment that has been created is absolutely killing them. This is a recipe for disaster. In a previous article, I noted that the number of jobs created at new businesses in 2010 in the United States was less than half of what it was back in the year 2000. Now we can expect that number to get even worse and we can expect large numbers of small businesses to shrink in size or close their doors completely. The following is a list of some of the post-election firings and layoffs that we have seen since Tuesday night...
How Many Businesses Have Announced Closings or Layoffs Since Obama Won A Second Term? - The Blaze - November 8, 2012 - Do elections have consequences? If you have been paying attention to the financial markets, you might think so. Wall Street has had two horrible days since President Obama won a second term. However, stock prices are not the only thing taking a hit. It appears that the job market is also suffering. In the last 48 hours, the following major corporations have announced layoffs in America (links take you to news stories about the layoffs – with details from the companies): Energizer, Exide Technologies, Westinghouse, Research in Motion Limited, Lightyear Network Solutions, Providence Journal, Hawker Beechcraft, Boeing (30% of their management staff), CVPH Medical Center, US Cellular, Momentive Performance Materials, Rocketdyne, Brake Parts, Vestas Wind Systems, Husqvarna, Center for Hospice New York, Bristol-Meyers, OCE North America Darden Restaurants, West Ridge Mine, United Blood Services Gulf
America Has Shifted To The Left And The Culture War Is Over - End of the American Dream Blog - Election day 2012 showed once again that America is moving steadily to the left. Yes, Barack Obama defeated Mitt Romney, but the underlying dynamics run much deeper than that – especially when you take a look at social issues. Older voters are more conservative when it comes to social issues, but they are slowly dying off and being replaced by younger voters that tend to be much more liberal. So on a whole host of controversial social issues including gay marriage, abortion, immigration and drug legalization we are seeing a dramatic shift take place. The American people as a whole are rejecting traditional values and are embracing a more “progressive” view of morality that is being promoted by our education system, the entertainment industry and the federal government. Those that want to cling to the morality of the past are being told that they “are on the wrong side of history” and that they need to come into the 21st century. On election night I spent a lot of time watching CNN, and even their “conservative pundits” were trashing those that still believe in traditional values. Sadly, it is likely that those that believe in traditional values are going to have a harder and harder time trying to win national elections. It is much easier to get people to change their minds about economic issues or foreign policy issues than it is about fundamental questions of right and wrong. The demographic tidal wave that is pushing America to the left is not going to stop, and it would literally take a miracle to see this country start to move back in the direction of traditional values. (Read More.....)
Fed Report: 100% Chance of Recession - SHTFPlan.com - Mac Slavo - November 7th, 2012 - Now that the election is over, the propaganda media can back off the burying of those critical stories that they couldn’t be bothered to report in the lead up to the re-election of President Obama. What are we talking about? For starters, the Federal Reserve’s recent report, which received nary a comment from the political and financial pundits on television. While the economy was on the minds of most voters last night, what they didn’t know may have very well swung the election to one candidate over another. And this particular tidbit of data is as important as it gets when we’re talking about economic health:
Moreover, if you look at the real numbers behind the numbers, like the rate of real inflation, and bounce those against this purported economic growth you may be surprised to find that we never exited the recession! Look at the chart below. You see that red line? That’s the government’s official GDP, a measure for economic growth. The government shows it in positive territory and its been heralded without question by the mainstream machine as the proof for an economic recovery. Now look at the blue line. That’s the unofficial GDP as calculated by economist John Williams using algorithms that account for distortions in the way government calculates inflation.
FEMA Disaster Centers Shut Doors 'Due to Weather' - DNA Info New York - November 7, 2012 - TOTTENVILLE — They fly into disaster areas, but flee from raindrops. FEMA disaster recovery centers in Hurricane Sandy-ravaged sections of the city that were supposed to provide assistance to hurricane victims went MIA Wednesday morning, posting signs saying that they were closed due to the approaching Nor'easter. The temporary shuttering of the facilities, which help victims register for disaster relief, as well as city food distribution centers come even as many of those still reeling from the monster storm were not told that they had to leave the battered areas. On Tuesday, Mayor Michael Bloomberg said that residents in the low-lying portions of Staten Island, Queens and Brooklyn were advised to leave ahead of the nor'easter, which could hit the city with 60 mph gusts and several inches of rain Wednesday afternoon, but that the evacuation was not mandatory like the one issued for all of Zone A ahead of Sandy. “We do not believe that it’s necessary to evacuate people,” said the mayor Wednesday. The move left residents of the storm-ravaged areas fuming. "The storm is coming. We don't know how hard it's going to hit us," said Jenny Cartagena, 46, who found the FEMA center in Coney Island closed Wednesday when she went there looking for food. "I need some help now." Because the FEMA centers were located with food distribution and warming services, some residents who arrived there were confused by the closed centers.
Fed QE3 May Hit $1 Trillion as Fiscal Deadlock Persists - Bloomberg - Caroline Salas Gage and Jeff Kearns - Nov 8, 2012 - The Federal Reserve stands as the only source of policy support for a U.S. economy burdened by 7.9 percent unemployment after the presidential election preserved the balance of power between Democrats and Republicans. “If you’re going to get stimulus, it’s got to come from the Fed,” said Paul Edelstein, the director of financial economics at IHS Global Insight in Lexington, Massachusetts. “They’re the only game in town.”... fiscal boost to the economy is probably off the table as President Barack Obama negotiates revenue increases and spending cuts with leaders of a Democratic-controlled Senate and a House of Representatives led by Republicans, Edelstein said. That may leave only the Fed in the position of trying to boost the economy, and its third round of quantitative easing may extend through next year and climb past $1 trillion, said economists at JPMorgan Chase & Co. and Pierpont Securities LLC.
Foodstamps Surge By Most In One Year To New All Time Record - Zero Hedge - Tyler Durden - November 10, 2012 - While there had been speculation that the BLS may delay the release of its October nonfarm payroll number until after the election, it turned out there was no reason to worry. Perhaps this is because the number, while at stall speed, was not quite as horrible as some had expected (even if the change in average hourly earnings did tumble to new all time lows) and so boosted Obama's reelection chances. There was, however, another closely tracked number which perhaps is far more indicative of the economic "growth" in the past 4 years, which certainly had a delayed release. The number of course is that showing how many Americans are on foodstamps, and usually is released at the end of the month, or the first day or two of the next month. This time the USDA delayed its release nine days past the semi-official deadline, far past the election, and until Friday night to report August foodstamp data. One glance at the number reveals why: at 47.1 million, this was not only a new all time record, but the monthly increase of 420,947 from July was the biggest monthly increase in one year. One can see why a reported surge in foodstamps ahead of the elections is something the USDA, and the administration may not have been too keen on disclosing.
Chart Of The Day: When $0.99 Becomes Unaffordable, We Have A Problem - Tyler Durden - November 8, 2012 - Earlier today, fast food juggernaut McDonalds reported same store sales for the month October. At -1.8%, this number was well below expectations of -1.1%, and a drop from September's 1.9%. It was driven by a 2%+ drop in comp store sales across all locations: US, Europea and APMEA, with the US performing just as bad as Europe. Most importantly, this was the first monthly drop in MCD comp sales since March 2003! So our question is: at what point does the perpetually self-deluded US population finally admit to itself that when even 99 cent meals are no longer affordable, that this country has a problem? Charting the last 4 years of McD sales, and eagerly looking forward to 4 more years.
US employers post fewest job openings in 5 months in September; layoffs also fall - AP through Fox News - November 06, 2012 - U.S. employers posted fewer job openings in September after advertising more in August than first estimated. The report suggests hiring will likely remain modest in the coming months. The Labor Department said Tuesday that job openings dropped by 100,000 to 3.56 million, the fewest in five months. August's openings were revised up to 3.66 million. The number of available jobs has jumped about 63 percent since July 2009, one month after the recession ended. It remains well below the more than 4 million jobs a month advertised before the recession began in December 2007. The job market remains very competitive. With 12.1 million people unemployed in September, there were 3.4 unemployed people, on average, competing for each open job. In a healthy economy, that ratio is roughly 2 to 1. Employers filled fewer available positions in September than in August. And the number of people who quit fell to the lowest level in 10 months. That's a bad sign for the job market, because it suggests workers see fewer opportunities to move to a better job. Workers tend to quit when they have other job offers. One positive sign in the report: Layoffs fell.
Hiring looked a little better in October, according to the Labor Department's employment report released Friday. Employers added 171,000 jobs last month and hiring in August and September was better than first estimated.
Fiscal Cliff Explained by Mike Maloney - (Words from the Gerald Celente Blog) - Peter Schiff and Ron Paul have been calling this "fiscal cliff" for years and years. But general public are too oblivious to heed the advice. Mike gets lost in details that have nothing to do with the fundamentals of money. What is money & how money is created and traded. The trap was set in the wee hours of Dec night in 1913 with passage of the Federal Reserve Act. That trap was sprung when Nixon, w/o any Constitutionally granted authority, reneged on international trade agreements to tie US Dollars to gold reserves. The ability to create money from nothing was thus borne and the collapse of economies around the globe begun.
How Many Businesses Have Announced Closings or Layoffs Since Obama Won A Second Term? - The Blaze - November 8, 2012 - Do elections have consequences? If you have been paying attention to the financial markets, you might think so. Wall Street has had two horrible days since President Obama won a second term. However, stock prices are not the only thing taking a hit. It appears that the job market is also suffering. In the last 48 hours, the following major corporations have announced layoffs in America (links take you to news stories about the layoffs – with details from the companies): Energizer, Exide Technologies, Westinghouse, Research in Motion Limited, Lightyear Network Solutions, Providence Journal, Hawker Beechcraft, Boeing (30% of their management staff), CVPH Medical Center, US Cellular, Momentive Performance Materials, Rocketdyne, Brake Parts, Vestas Wind Systems, Husqvarna, Center for Hospice New York, Bristol-Meyers, OCE North America Darden Restaurants, West Ridge Mine, United Blood Services Gulf
America Has Shifted To The Left And The Culture War Is Over - End of the American Dream Blog - Election day 2012 showed once again that America is moving steadily to the left. Yes, Barack Obama defeated Mitt Romney, but the underlying dynamics run much deeper than that – especially when you take a look at social issues. Older voters are more conservative when it comes to social issues, but they are slowly dying off and being replaced by younger voters that tend to be much more liberal. So on a whole host of controversial social issues including gay marriage, abortion, immigration and drug legalization we are seeing a dramatic shift take place. The American people as a whole are rejecting traditional values and are embracing a more “progressive” view of morality that is being promoted by our education system, the entertainment industry and the federal government. Those that want to cling to the morality of the past are being told that they “are on the wrong side of history” and that they need to come into the 21st century. On election night I spent a lot of time watching CNN, and even their “conservative pundits” were trashing those that still believe in traditional values. Sadly, it is likely that those that believe in traditional values are going to have a harder and harder time trying to win national elections. It is much easier to get people to change their minds about economic issues or foreign policy issues than it is about fundamental questions of right and wrong. The demographic tidal wave that is pushing America to the left is not going to stop, and it would literally take a miracle to see this country start to move back in the direction of traditional values. (Read More.....)
Fed Report: 100% Chance of Recession - SHTFPlan.com - Mac Slavo - November 7th, 2012 - Now that the election is over, the propaganda media can back off the burying of those critical stories that they couldn’t be bothered to report in the lead up to the re-election of President Obama. What are we talking about? For starters, the Federal Reserve’s recent report, which received nary a comment from the political and financial pundits on television. While the economy was on the minds of most voters last night, what they didn’t know may have very well swung the election to one candidate over another. And this particular tidbit of data is as important as it gets when we’re talking about economic health:
Moreover, if you look at the real numbers behind the numbers, like the rate of real inflation, and bounce those against this purported economic growth you may be surprised to find that we never exited the recession! Look at the chart below. You see that red line? That’s the government’s official GDP, a measure for economic growth. The government shows it in positive territory and its been heralded without question by the mainstream machine as the proof for an economic recovery. Now look at the blue line. That’s the unofficial GDP as calculated by economist John Williams using algorithms that account for distortions in the way government calculates inflation.
FEMA Disaster Centers Shut Doors 'Due to Weather' - DNA Info New York - November 7, 2012 - TOTTENVILLE — They fly into disaster areas, but flee from raindrops. FEMA disaster recovery centers in Hurricane Sandy-ravaged sections of the city that were supposed to provide assistance to hurricane victims went MIA Wednesday morning, posting signs saying that they were closed due to the approaching Nor'easter. The temporary shuttering of the facilities, which help victims register for disaster relief, as well as city food distribution centers come even as many of those still reeling from the monster storm were not told that they had to leave the battered areas. On Tuesday, Mayor Michael Bloomberg said that residents in the low-lying portions of Staten Island, Queens and Brooklyn were advised to leave ahead of the nor'easter, which could hit the city with 60 mph gusts and several inches of rain Wednesday afternoon, but that the evacuation was not mandatory like the one issued for all of Zone A ahead of Sandy. “We do not believe that it’s necessary to evacuate people,” said the mayor Wednesday. The move left residents of the storm-ravaged areas fuming. "The storm is coming. We don't know how hard it's going to hit us," said Jenny Cartagena, 46, who found the FEMA center in Coney Island closed Wednesday when she went there looking for food. "I need some help now." Because the FEMA centers were located with food distribution and warming services, some residents who arrived there were confused by the closed centers.
Fed QE3 May Hit $1 Trillion as Fiscal Deadlock Persists - Bloomberg - Caroline Salas Gage and Jeff Kearns - Nov 8, 2012 - The Federal Reserve stands as the only source of policy support for a U.S. economy burdened by 7.9 percent unemployment after the presidential election preserved the balance of power between Democrats and Republicans. “If you’re going to get stimulus, it’s got to come from the Fed,” said Paul Edelstein, the director of financial economics at IHS Global Insight in Lexington, Massachusetts. “They’re the only game in town.”... fiscal boost to the economy is probably off the table as President Barack Obama negotiates revenue increases and spending cuts with leaders of a Democratic-controlled Senate and a House of Representatives led by Republicans, Edelstein said. That may leave only the Fed in the position of trying to boost the economy, and its third round of quantitative easing may extend through next year and climb past $1 trillion, said economists at JPMorgan Chase & Co. and Pierpont Securities LLC.
Foodstamps Surge By Most In One Year To New All Time Record - Zero Hedge - Tyler Durden - November 10, 2012 - While there had been speculation that the BLS may delay the release of its October nonfarm payroll number until after the election, it turned out there was no reason to worry. Perhaps this is because the number, while at stall speed, was not quite as horrible as some had expected (even if the change in average hourly earnings did tumble to new all time lows) and so boosted Obama's reelection chances. There was, however, another closely tracked number which perhaps is far more indicative of the economic "growth" in the past 4 years, which certainly had a delayed release. The number of course is that showing how many Americans are on foodstamps, and usually is released at the end of the month, or the first day or two of the next month. This time the USDA delayed its release nine days past the semi-official deadline, far past the election, and until Friday night to report August foodstamp data. One glance at the number reveals why: at 47.1 million, this was not only a new all time record, but the monthly increase of 420,947 from July was the biggest monthly increase in one year. One can see why a reported surge in foodstamps ahead of the elections is something the USDA, and the administration may not have been too keen on disclosing.
Chart Of The Day: When $0.99 Becomes Unaffordable, We Have A Problem - Tyler Durden - November 8, 2012 - Earlier today, fast food juggernaut McDonalds reported same store sales for the month October. At -1.8%, this number was well below expectations of -1.1%, and a drop from September's 1.9%. It was driven by a 2%+ drop in comp store sales across all locations: US, Europea and APMEA, with the US performing just as bad as Europe. Most importantly, this was the first monthly drop in MCD comp sales since March 2003! So our question is: at what point does the perpetually self-deluded US population finally admit to itself that when even 99 cent meals are no longer affordable, that this country has a problem? Charting the last 4 years of McD sales, and eagerly looking forward to 4 more years.
US employers post fewest job openings in 5 months in September; layoffs also fall - AP through Fox News - November 06, 2012 - U.S. employers posted fewer job openings in September after advertising more in August than first estimated. The report suggests hiring will likely remain modest in the coming months. The Labor Department said Tuesday that job openings dropped by 100,000 to 3.56 million, the fewest in five months. August's openings were revised up to 3.66 million. The number of available jobs has jumped about 63 percent since July 2009, one month after the recession ended. It remains well below the more than 4 million jobs a month advertised before the recession began in December 2007. The job market remains very competitive. With 12.1 million people unemployed in September, there were 3.4 unemployed people, on average, competing for each open job. In a healthy economy, that ratio is roughly 2 to 1. Employers filled fewer available positions in September than in August. And the number of people who quit fell to the lowest level in 10 months. That's a bad sign for the job market, because it suggests workers see fewer opportunities to move to a better job. Workers tend to quit when they have other job offers. One positive sign in the report: Layoffs fell.
Hiring looked a little better in October, according to the Labor Department's employment report released Friday. Employers added 171,000 jobs last month and hiring in August and September was better than first estimated.
Fiscal Cliff Explained by Mike Maloney - (Words from the Gerald Celente Blog) - Peter Schiff and Ron Paul have been calling this "fiscal cliff" for years and years. But general public are too oblivious to heed the advice. Mike gets lost in details that have nothing to do with the fundamentals of money. What is money & how money is created and traded. The trap was set in the wee hours of Dec night in 1913 with passage of the Federal Reserve Act. That trap was sprung when Nixon, w/o any Constitutionally granted authority, reneged on international trade agreements to tie US Dollars to gold reserves. The ability to create money from nothing was thus borne and the collapse of economies around the globe begun.
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