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Business/Economy (News/Activism)

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  • Activists Say Vietnam Restricted Access to Facebook During Obama Visit

    05/26/2016 3:21:25 PM PDT · by nickcarraway · 1 replies
    Fortune ^ | MAY 26, 2016
    The social network was blocked several times earlier this month The Vietnamese government restricted access to Facebook Inc inside Vietnam for several days this week as part of a broader crackdown on human rights and political dissidents during a visit by President Barack Obama, two activist organizations said on Thursday. Officials of Access Now, a digital rights organization, and Viet Tan, a Vietnamese pro-democracy group, said the social media site was restricted and at times blocked inside Vietnam from Sunday to Wednesday, citing reports from people inside the country on Twitter TWTR -0.76% and to Access Now’s digital security help...
  • Donald Trump would allow Keystone XL pipeline and end Paris climate deal

    05/26/2016 3:07:55 PM PDT · by Innovative · 13 replies
    Guardian ^ | May 26, 2016 | Ben Jacobs
    Republican nominee took veiled shots at those who are concerned about global warming and endorsed drilling off the Atlantic coast in a speech on energy policy. Donald Trump promised to only work with ‘environmentalists whose only agenda is protecting nature’ and to ‘focus on real environmental challenges, not the phony ones. Donald Trump pledged to cancel the Paris climate agreement, endorsed drilling off the Atlantic coast and said he would allow the Keystone XL pipeline to be built in return for “a big piece of the profits” for the American people. Trump reaches delegate count needed to clinch Republican nomination...
  • Insurers Seek Big Premium Boosts

    05/26/2016 2:27:12 PM PDT · by reaganaut1 · 11 replies
    Wall Street Journal ^ | May 25, 2016 | LOUISE RADNOFSKY
    Big health plans stung by losses in the first few years of the U.S. health law’s implementation are seeking hefty premium increases for individual plans sold through insurance exchanges in more than a dozen states. The insurers’ proposed rates for individual coverage in states that have made their 2017 requests public largely bear out health plans’ grim predictions about their challenges under the health-care overhaul. According to the insurers’ filings with regulators, large plans in states including New York, Pennsylvania and Georgia are seeking to raise rates by 20% or more. In states such as Florida and Maryland, insurers are...
  • Alan Greenspan is a Free Traitor (vanity)

    05/26/2016 2:14:31 PM PDT · by central_va · 31 replies
    Faux Business News Neil Cavuto ^ | 5/26/16 | Neil Cavuto
    In case you didn't know it Alan Greenspan was spreading Free Trade lies today on Your GloBULList World with Neil Cavuto.
  • FDA regulations could kill the vaping industry

    05/26/2016 1:18:21 PM PDT · by Oldeconomybuyer · 55 replies
    WVLT - CBS Local ^ | May 25, 2016 | By Lauren Davis
    Knoxville vape companies are fuming mad after the FDA passed new regulations this month. They say this new law will put an end to the vaping industry. They are shocked at how far reaching the regulations are, and now they're afraid the new restrictions will destroy the industry. Hunter Allison with Tri State Vape Company will have to submit an application for each new product. He says that would come with a hefty price tag. Allison says, "The absolutely lowest price I've seen is $300,000 per product and that's $4.5 million for me and there's no possible way. He's already...
  • Solar Energy's Real Problem

    05/26/2016 9:32:19 AM PDT · by detective · 20 replies
    American Thinker ^ | May 26, 2016 | Ryan Yonk and Devin Stein
    Ivanpah, the world's largest solar power plant located in California's Mojave Desert, caught fire last Thursday, causing damage to one of the plant's three towers. This latest engineering setback is the least of the plant's woes. Prohibitive economic realities are the true problem. Earlier this year, the California Public Utilities Commission (CPUC) decided to postpone its continued support of the struggling facility, which was touted as the future of solar power when it opened in 2014. But after receiving $1.6 billion in loan guarantees from the Department of Energy (DOE) and $535 million from the U.S. Treasury Department, the facility's...
  • Who Pays For “Diversity”?

    05/26/2016 8:53:32 AM PDT · by Academiadotorg · 7 replies
    Accuracy in Academia ^ | May 26, 2016 | Malcolm A. Kline
    While The Donald hits the hustings talking, yea, bellowing, about the jobs America has lost, academia has actually added to its payrolls, but kept mum about who is picking up the tab. "The number of jobs in higher education expanded in 2016 at the highest growth rate for the first quarter in three years," according to Higher Ed Jobs.com. Two emerging professions servicing the academic community are Title IX advisers and diversity consultants. The former show university employees how not to run afoul of the federal law which was originally intended to bar discrimination by gender that has morphed into...
  • Trump: Warren a ‘total hypocrite’ on housing

    05/26/2016 8:10:52 AM PDT · by Trumpinator · 19 replies
    thehill.com ^ | May 25, 2016, 09:37 am | Mark Hensch
    Trump’s response references reports claiming that Warren potentially benefited from a housing crisis herself. Reports emerged during Warren’s Senate campaign in 2012 that she profited off her native Oklahoma City’s volatile market in the 1990s. Warren reportedly loaned money at high interest rates to relatives and purchased foreclosed properties at bargain prices. The Boston Herald reported that Warren took part in about 12 Oklahoma real estate deals.
  • Obama: World leaders 'rattled' by Trump

    05/26/2016 7:40:29 AM PDT · by Trumpinator · 37 replies
    cnn.com ^ | Updated 10:21 AM ET, Thu May 26, 2016 | Euan McKirdy, CNN
    Obama: World leaders 'rattled' by Trump By Euan McKirdy, CNN Updated 10:21 AM ET, Thu May 26, 2016 (CNN)President Barack Obama touched on the rancorous U.S. presidential race at a press conference Thursday from the G-7 summit in Japan, saying that presumptive Republican nominee Donald Trump's statements had his fellow world leaders concerned. "They're rattled by him and for good reason,"
  • California cap-and-trade auction falls far short, delivering blow to state revenue (tr)

    05/26/2016 6:16:22 AM PDT · by Oldeconomybuyer · 17 replies
    Los Angeles Times ^ | May 26, 2016 | by Ralph Vartarbedian
    The latest auction in California's cap-and-trade market for greenhouse gases fell sharply below expectations, as buyers purchased just 2% of the carbon credits whose sale funds a variety of state programs -- notably, the proposed high-speed rail project. The quarterly auction, conducted May 18 and announced Wednesday, will provide just $10 million for state programs, including $2.5 million for the bullet train. The rail authority had been expecting about $150 million. Whatever prompted the lack of buyers, the auction is a stark example of the uncertainty and risk of relying on actively-traded carbon credits to build the bullet train. The...
  • Orders for U.S. Capital Goods Unexpectedly Fall for Third Month

    05/26/2016 5:57:58 AM PDT · by BenLurkin · 11 replies
    finance.yahoo.com ^ | 05/26/2016
    Some companies are paring investment plans as they assess the demand outlook in wake of weaker first-quarter growth and earnings, raising doubts about how quickly manufacturing can pull out of its slump. Global economies are struggling to improve, the oil industry has retrenched and factory customers are also bringing inventories more in line with sales. “There’s fragile sentiment when it comes to business investment,” said Thomas Costerg, a senior U.S. economist at Standard Chartered Bank in New York, who projected a decline in orders for business equipment. “The global growth picture is still unsettled. Corporate profits have softened as well....
  • Venezuela sells gold reserves as economy worsens

    05/26/2016 5:54:17 AM PDT · by C19fan · 19 replies
    CNBC ^ | May 25, 2016 | Henry Sanderson and Andres Schipani
    Venezuela’s gold reserves have plunged to their lowest level on record after it sold $1.7 billion of the precious metal in the first quarter of the year to repay debts. The country is grappling with an economic crisis that has left it struggling to feed its population.
  • Obama races to cement the big Pacific Rim trade deal that all his potential successors oppose

    05/26/2016 5:52:06 AM PDT · by C19fan · 8 replies
    LA Times ^ | May 25, 2016 | Michael A. Memoli and Christi Parsons
    President Obama is racing against the clock to cement a massive Pacific Rim trade deal that all of his potential successors oppose, with his administration eyeing a looming fight on Capitol Hill while starting to implement as much of the complicated pact as it can.
  • China Wants U.S. Clues On Fed Rate Hike Timing

    05/26/2016 4:26:47 AM PDT · by expat_panama · 12 replies
    Investors Business Daily ^ | 5/25/2016 | BLOOMBERG NEWS
    Chinese officials plan to ask their American counterparts in annual talks next month about the chance of a Federal Reserve interest-rate increase in June, according to people familiar with the matter. The Chinese delegation will try to deduce whether a June or a July rate rise is more likely, as the nation’s policy makers prepare for the potential impact on financial markets and the yuan, the people said, asking not to be named as the discussions were private. In China’s view, if the Fed does lift borrowing costs, a July move would be preferable, the people said. A People’s Bank...
  • Medical marijuana legalization sent to Ohio governor

    05/25/2016 10:16:36 PM PDT · by Olog-hai · 5 replies
    Associated Press ^ | May 25, 2016 11:11 PM EDT | Julie Carr Smyth
    A medical marijuana legalization bill has been sent to Ohio Gov. John Kasich in an effort by state lawmakers to offset support for a proposed fall ballot measure. The measure cleared the Ohio Senate by just three votes, and the House followed by OKing Senate changes 67-28. The proposal, which Kasich has not committed to signing, would bar patients from smoking marijuana or growing it at home, but it would allow its use in vapor form for certain chronic health conditions. It garnered both support and opposition among Republicans and Democrats. Supporters recalled emotional testimony from chronic pain sufferers and...
  • South Florida drivers feel they're spending more money on tolls

    05/25/2016 7:49:30 PM PDT · by Tolerance Sucks Rocks · 21 replies
    Local 10 News ^ | April 29, 2016 | Amy Viteri
    MIAMI - Drivers throughout South Florida have said no matter where their daily commute takes them, they feel they're spending more money, more often on tolls. Local 10 News spoke to several drivers who said the tolls are another expense and don't necessarily help them reach their destination any faster. "Three hundred to four hundred (dollars) a month," Maribel Masvidal estimated she spends commuting from Homestead to her job in South Miami. "A lot of money that could be used on other things for my family." Masvidal said that commute can take her up to two hours one way on...
  • Hillary Clinton's New Anti-Trump Ad Misses the Mark

    05/25/2016 7:48:09 PM PDT · by Milhous · 33 replies
    Rolling Stone ^ | May 25, 2016 | Matt Taibbi
    A new attack ad put out by the Hillary Clinton campaign this week achieves the near-impossible, making Donald Trump look wronged and (almost) like a victim. More believably, it makes the Democrats look sleazy and disingenuous in comparison. The ad begins with a picture of a grinning Trump and the words, "In 2006, Donald Trump was hoping for a real estate crash." It was caused by the existence of a speculative bubble in the first place. And that bubble was inflated not by Donald Trump, but by the people who have at least in part bankrolled Hillary Clinton's career: namely,...
  • Courts To Decide Future Of Man’s Private Island In Suisun Bay

    05/25/2016 7:08:01 PM PDT · by nickcarraway · 21 replies
    A legal battle is raging in Bay Area courts over a landowner’s plans to transform an island in the Delta into a playground for Silicon Valley. Secluded Pt. Buckner Island in Suisun Bay has become well known for its kite-surfing and other sports. When John Sweeney bought the small Delta island, it was in pretty bad shape. The levees were breached in several places, allowing water to cover part of it. As the new owner, Sweeny says “by law” the Suisun Marsh Preservation Act now makes that his problem. “When you buy the property, you have a compliance period where...
  • Former McDonald’s CEO warns minimum wage hike’s ‘destructive’ impact

    05/25/2016 5:35:44 PM PDT · by russbart · 4 replies
    While there is already anecdotal evidence that low-skill jobs are being replaced by machines at an increasing pace, one expert in the field recently predicted the trend will only escalate as activists across the country continue to push for a $15 per hour minimum wage.
  • Prof profited by buying, selling homes (Hypocrite Warren bough depressed homes, sold high)

    05/25/2016 2:18:01 PM PDT · by Trumpinator · 19 replies
    bostonherald.com ^ | Saturday, June 02, 2012 | Jerry Kronenberg
    Elizabeth Warren, who has railed against predatory banks and heartless foreclosures, took part in about a dozen Oklahoma real estate deals that netted her and her family hefty profits through maneuvers such as “flipping” properties, records show. A Herald review has found that the Democratic U.S. Senate candidate rapidly bought and sold homes herself, loaned money at high interest rates to relatives and purchased foreclosed properties at bargain prices. Land records from Warren’s native Oklahoma City show the Harvard professor was active in the often topsy-turvy real estate market in the 1990s, including: • Purchasing a foreclosed home at 2725...
  • Price of corn flour in Venezuela soars 900 percent

    05/25/2016 1:55:34 PM PDT · by Lorianne · 13 replies
    Yahoo News ^ | 24 May 2016
    Caracas (AFP) - Venezuelans on Tuesday woke up to discover that the government-controlled price of corn flour -- used to make corn patty arepas, a staple of local cuisine -- has risen 900 percent.
  • Oklahoma landowners register private airstrips to keep wind farms at bay

    05/25/2016 1:52:02 PM PDT · by Lorianne · 11 replies
    News OK ^ | 22 May 2016 | Paul Monies
    An airport boom is underway in southwest Oklahoma. But don't expect to be in long security lines or grab a coffee while you wait for a flight. These are airstrips registered with the Federal Aviation Administration for private use. Most are turf runways mowed out of a pasture. Some even have a wind sock. But they have no lights or other nighttime warnings. The rush to register airstrips is part of the fallout from a state law passed last year that put in siting regulations on wind turbines. Senate Bill 808 said the turbines had to be at least 1.5...
  • Windfall: When Renewable Energy is not Sustainable

    05/25/2016 1:50:08 PM PDT · by Lorianne · 7 replies
    Daily Impact, the ^ | 16 May 2016 | Tom Lewis
    Industrial Masters of the Universe have long since learned what to do when the fickle public embraces a product or concept that was previously anathema; they embrace it like an Anaconda getting ready to eat a pig. Thus they learned to love “organic” stuff, and “natural” chemicals and even “renewable” energy. As soon as they learned that customers would line up to buy $3 million turbines, that the government would subsidize up to 70% of the cost, and that the public would love them for doing it, it was game on. Now, however, accumulating costs and negatives are beginning to...
  • Foxconn replaces '60,000 factory workers with robots' (China)

    05/25/2016 11:05:03 AM PDT · by RightGeek · 38 replies
    BBC ^ | 5/25/16 | uncredited
    Apple and Samsung supplier Foxconn has reportedly replaced 60,000 factory workers with robots. One factory has "reduced employee strength from 110,000 to 50,000 thanks to the introduction of robots", a government official told the South China Morning Post. Xu Yulian, head of publicity for the Kunshan region, added: "More companies are likely to follow suit." China is investing heavily in a robot workforce. In a statement to the BBC, Foxconn Technology Group confirmed that it was automating "many of the manufacturing tasks associated with our operations" but denied that it meant long-term job losses. [snip] Since September 2014, 505 factories...
  • Christianity Is Not Private But A Bakery Is

    05/25/2016 8:17:11 AM PDT · by SoFloFreeper · 13 replies
    The Heidelblog ^ | R Scott Clark
    .....Despite the 1st amendment and his oath, Sen. Schumer (D-New York) says that religious Americans have a choice: hold their religious faith or go into business but, according to Sen. Schumer, religious people cannot both practice their faith and conduct business in America.... The first part of the answer is that...it became a given in the modern period that religion is an essentially private, theoretical matter. ....The second part of the answer is really a question. How did it come to be that, in America, a nation founded on the principle of the right of relatively unencumbered religious practice, in...
  • New York Times Co. to Offer Buyouts to Employees

    05/25/2016 7:20:51 AM PDT · by McGruff · 38 replies
    The NY Times ^ | MAY 25, 2016 | KATIE ROGERS
    The New York Times will offer voluntary buyout packages to members of the newsroom and several business departments at the end of the month, the company announced on Wednesday. In a memo, members of the executive committee, including Arthur Sulzberger Jr., the newspaper’s publisher, and Dean Baquet, its executive editor, said that the buyouts were a part of the company’s larger mandate to build a more digitally focused newsroom, and to reach its stated goal of doubling digital revenue by the year 2020. “These plans will no doubt lead to new initiatives and investments,” the memo said. “At the same...
  • Bull Market in False Prophets

    05/25/2016 6:31:49 AM PDT · by SkyPilot · 4 replies
    Rapture Ready ^ | 25 May 16 | Wilfred J. Hahn
    Usually, long experience and practice is something of great merit. Presumably, with age comes much knowledge and useful perspective. That is not necessarily so in today’s world of political economics and financial markets. Today, long experience is more likely to be a hindrance … a so-called mill stone around the ankle. One is not so free to accept farcical policies and quick-fix solutions. It appears that the economic “body of knowledge” accumulated in the standard text books over the last 50 to 150 years or so no longer has any application. No need apparently. New enlightenment is all that is...
  • The Obnoxious Fallacy of Mandated Prosperity

    05/25/2016 5:04:18 AM PDT · by expat_panama · 10 replies
    Obama's overtime end-run is the latest example of the fallacy of attempting to mandate prosperity. This labor rule mimics so many other administration initiatives that seek to unilaterally impose its will on circumstances not suiting their vision. However, the economy is a tough adversary. So the basic problem remains: Although government may redistribute wealth, government cannot create it. Last week, the Obama administration announced a rule doubling (from $23,660 to $47,476) the salary range within which employees must be paid time-and-a-half overtime. Like recent high-profile minimum wage hikes in several large cities and the "living wage" movement in general, Obama's...
  • What’s with Yahoo’s cryptic response to Variety’s Marissa Mayer crucifixion cover?

    05/25/2016 5:01:51 AM PDT · by upchuck · 9 replies
    Fast Company ^ | May 24, 2016
    Variety has new cover story about Yahoo, and the cover image is quite a doozy! The front and center image is a drawing of Marissa Mayer holding up a large wooden "Y," that looks disturbingly like a cross. So Mayer is Jesus, I guess? The headline reads "The end is nigh." If that isn't weird enough, Yahoo issued a similarly cryptic response to the headline. The company said "Running that cover illustration is Variety's own burden to bear." What the hey does that mean? Is it a cry for help? A promise? A threat? Perhaps, and just perhaps, this message...
  • Obama urges Vietnam youth to tackle climate change

    05/25/2016 4:14:53 AM PDT · by dennisw · 32 replies
    Breitbart ^ | 25 May 2016
    HO CHI MINH CITY, Vietnam (AP) — Wrapping up a historic visit to Vietnam, U.S. President Barack Obama on Wednesday praised the country’s next generation of leaders for being more conscious of the environment than previous generations and urged them to “do something about” climate change. During his final public event here, Obama basked in the admiration of hundreds of young leaders who participated in a town hall-style event and prefaced some of their questions to him with praise about his leadership and his “inspiring speeches.” Obama used a question about preserving a Vietnamese cave from development to pivot to...
  • EPA Just Declared War On Millions of Car Owners

    05/25/2016 3:54:04 AM PDT · by IBD editorial writer · 142 replies
    Investor's Business Daily ^ | 5/25/2016 | Staff
    Energy: The EPA’s proposal to increase the amount of ethanol that must be blended into gasoline is a trifecta of regulatory abuse. It will do nothing for the environment, it will do nothing for energy security, and it could wreck millions of car engines
  • Glenn Beck Blasts Matt Drudge for Bias Against Hillary: ‘How Can We Complain to Facebook About Bias

    05/24/2016 8:11:45 PM PDT · by Enlightened1 · 93 replies
    Breitbart ^ | 05/24/16 | Rebecca Mansour
    Glenn Beck once again blasted critics of his full-throated defense of Facebook – this time by calling out Matt Drudge of the Drudge Report for being biased against Hillary Clinton. Beck has been attacking Facebook’s conservative critics ever since the damage control meeting he and 16 other conservatives had with Facebook CEO Mark Zuckerberg last week following reports from several Facebook whistleblowers that the site’s news curators actively suppress conservative stories in their “trending” news section while simultaneously boosting the signal of leftwing causes like Black Lives Matter. Beck, who has become Zuckerberg’s staunchest defender on the right, took to...
  • Methodists Vote to Divest From Hate and Invest in Peace

    05/24/2016 6:27:11 PM PDT · by SJackson · 10 replies
    Algemeiner ^ | 5-23-16 | Abraham Cooper and Yitzchok Adlerstein
    n 2016, the frontline of the war against the legitimacy of the Jewish state isn’t Gaza or Israel’s northern border — or even the Golan Heights. It is the global Boycott, Divestment and Sanctions (BDS) movement, which seeks to terminate the Jewish state by delegitimizing it in the world community. This ugly campaign plays out on our nation’s college campuses, including most recently at the University of California-Irvine, where campus police had to intervene to save (mostly) Jewish women from “activists” protesting a film about Israeli soldiers. BDS-ers, crafting their efforts as “pro-peace,” have had considerable success with mainline Protestant...
  • Clinton urges Obama to block Norwegian Air from flying to US

    05/24/2016 1:08:32 PM PDT · by Pearls Before Swine · 17 replies
    The Local (NO) ^ | May 23, 2016 | Not Given
    Hillary Clinton is urging the White House to reject Norwegian Air’s application to fly to the United States over questions about its labor practices, adding her voice to a growing chorus of criticism surrounding the low-cost air carrier. .... Norwegian Air has for years been seeking access to more airports in the U.S. and European Union, by establishing a subsidiary — Norwegian Air International — in Ireland, a member of the EU. The Department of Transportation (DOT) tentatively approved the application last month. But critics have slammed the company for attempting to skirt more stringent Norwegian labor and tax laws...
  • SEC Conference Features Former Official Calling for Fraudsters to be Protected from Career Harm

    05/24/2016 1:03:06 PM PDT · by Lorianne · 6 replies
    Naked Capitalism ^ | 23 May 2016 | Yves Smith
    The SEC showed its true colors yet again at a panel at Stanford Law School at the end of March, although not as dramatically as last year. In last spring’s SEC panel at Stanford, the then head of examinations, Andrew Bowden, made such fawning remarks about private equity, including repeatedly saying he’d really like his son to work in the industry, that he resigned three weeks after we publicized the segment. Nevertheless, this conference was another demonstration of depth of regulatory capture at the agency. As before, the real action came in when the audience members asked questions. They were...
  • Price of corn flour in Venezuela soars 900 percent

    05/24/2016 9:03:28 AM PDT · by C19fan · 27 replies
    AFP ^ | May 24, 2016 | Staff
    Venezuelans on Tuesday woke up to discover that the government-controlled price of corn flour -- used to make corn patty arepas, a staple of local cuisine -- has risen 900 percent. The socialist government of President Nicolas Maduro had kept the price of corn flour frozen for 15 months at 19 bolivares a kilogram (two pounds).
  • TRUMP CAMPAIGN PLANS COLLEGE OVERHAUL

    05/24/2016 8:17:22 AM PDT · by Academiadotorg · 88 replies
    Accuracy in Academia ^ | May 23, 2016 | Deborah Lambert
    Who knew that the Trump campaign would be getting involved in higher education policy this year? Sam Clovis, a tenured economics professor and Trump campaign co-chair, recently noted that their objectives include getting the government out of student lending, requiring colleges to share in student loan risk, and discouraging borrowing by liberal arts majors. Clovis told Inside Ed that the mere mention of these policy proposals has sent some Washington graybeards into a swivet, and "he expects some higher education leaders to react the same way when Trump outlines these ideas during the fall campaign." Some of the ideas under...
  • Cuba to legalize small and medium-sized private businesses

    05/24/2016 7:53:03 AM PDT · by Olog-hai · 11 replies
    Associated Press ^ | May 24, 2016 10:40 AM EDT | Michael Weissenstein
    Cuba announced Tuesday that it will legalize small and medium-sized private businesses, a move that could significantly expand the space allowed for private enterprise in one of the world’s last communist countries. Until now, the government has allowed private enterprise only by self-employed workers in several hundred established categories like restaurant owner or hairdresser. Many of those workers have become de-facto small business owners employing other Cubans. But there are widespread complaints about the difficulties of running a business in a system that does not officially recognize them. Low-level officials often engage in crackdowns on successful businesses for supposed violations...
  • The Japanese Popsicle Affair

    05/24/2016 7:42:42 AM PDT · by Lorianne · 4 replies
    Acting Man ^ | 20 May 2016 | Pater Tenebrarum
    As we keep saying, there really is no point in trying to make people richer by making them poorer – which is what Shinzo Abe and Haruhiko Kuroda have been trying to do for the past several years. Not surprisingly, they have so to speak only succeeded in achieving the second part of the equation: they have certainly managed to impoverish their fellow Japanese citizens. Just think about the relentless pressure on the yen in the years following Kuroda’s implementation of the “QQE” policy (colloquially known as “money printing”). Economic growth has gone precisely nowhere, which should be no surprise....
  • How the Deep State’s Cronies Steal From You

    05/24/2016 7:37:33 AM PDT · by Lorianne · 5 replies
    Contra Corner ^ | 20 May 2016 | Bill Bonner
    Now, back to the Deep State. Much of its growth is recorded in the pages of the Code of Federal Regulations (CFR). This tracks all the laws laid down by successive governments. A privilege, a special tax break, a rule, a prohibition, a piece of meat here, a piece of meat there… and soon the foxes are eating high on the hog. But what’s meat for the foxes is poison for the economy. snip The relentless growth of Leviathan: total pages in the Code of Federal Regulations, 1950-2013 (it has continued to grow since then…). No wonder the economy is...
  • SunEdison: Now Looking Into Liquidating Its Assets

    05/24/2016 7:30:08 AM PDT · by Lorianne · 7 replies
    GTM ^ | 18 May 2016 | Eric Wesoff
    Rothschild, a restructuring agent, is taking bids to liquidate geographic bundles of the developer’s assets. ___ Until this most recent news, many in the solar industry were holding out a thread of hope that bankrupt SunEdison could somehow recover and continue in a diminished but intact capacity. That does not appear to be the case. According to a report in SparkSpread, SunEdison’s restructuring agent, Rothschild, is "soliciting bids for the bankrupt company’s asset portfolio in what is expected to result in an outright liquidation of the developer." That's an approximately 4-gigawatt to 5-gigawatt collection of operating and development assets, according...
  • Nokia sheds over a thousand jobs in Finland

    05/24/2016 7:22:29 AM PDT · by Lorianne · 3 replies
    Street Wise Journal ^ | 22 May 2016
    Nokia, once the undisputed king of the mobile phone industry, is to cut one thousand and thirty-two jobs in Finland, in a cost cutting exercise after its acquisition of Alcatel Lucent – the telecommunications network equipment maker, according to a statement issued on Friday. Finland’s largest company has in fact shed thousands of jobs in the European country over the past few years, as it’s once mighty phone business was overtaken and outshone by companies who capitalised on consumer demand for smartphones, leaving Nokia scrambling to catch up. Nokia started the cost-cutting program in April and is aiming to save...
  • IBM continues layoffs that could top 14,000 job cuts

    05/24/2016 7:16:29 AM PDT · by Lorianne · 7 replies
    UPI ^ | 21 May 2016 | Eric DuVall
    Software giant IBM is initiating another round of job cuts the company announced in April, according to multiple media reports. The number of positions cut could top 14,000, Stanford Bernstein analyst Toni Sacconaghi told The Wall Street Journal. The cuts come as the company recorded its 16th consecutive quarterly loss. Big Blue has struggled with its core software business in the face of increasing cloud computing, analysts said. A company executive told WRAL TechWire IBM is "aggressively transforming" to offer more cloud-based computing and could rehire just as many employees to assist in that effort as are being let go...
  • Yahoo spends $500K to protect Marissa Mayer from ‘specific security threats’

    05/24/2016 7:14:50 AM PDT · by rktman · 12 replies
    nypost.com ^ | 5/23/2016 | James Covert
    Yahoo said Chief Executive Marissa Mayer faced “specific security threats” in 2015 — and the company accordingly spent more than a half-million dollars on her personal security. Last year’s tab came to $544,061 — more than 20 times the $26,891 Yahoo had spent a year earlier on protecting Mayer and her immediate family, according to a Monday filing. “During 2015 Ms. Mayer faced specific security threats that we believed were credible,” Yahoo said in the filing. The company didn’t elaborate on the threats. By comparison, Facebook said last month it spent $6.5 million on bodyguards and other security for its...
  • Chinese banks sitting on $1.7 trillion debt time bomb

    05/24/2016 6:07:35 AM PDT · by TigerLikesRooster · 17 replies
    ABC(Australia) ^ | May 24, 2016 | Stephen Letts
    Chinese banks sitting on $1.7 trillion debt time bomb by business reporter Stephen Letts Chinese banks are looking down the barrel of a staggering RMB 8 trillion - or $1.7 trillion - worth of losses according to the French investment bank Societe Generale. Put another way, 60 per cent of capital in China's banks is at risk as authorities start the delicate and dangerous process of reining in the debt-bloated and unprofitable state-owned enterprise (SOE) sector. Disturbingly though, debt is not only not shrinking, it is accelerating, making the eventual reckoning far worse. China's overall non-financial debt grew by 15.2...
  • California’s $64 Billion Bullet Train To Nowhere Gets Delayed … Again

    05/24/2016 5:12:47 AM PDT · by IBD editorial writer · 11 replies
    Investor's Business Daily ^ | 5/23/2016 | John Merline
    In the late 1800s, it took railroad companies six years to lay 1,907 miles of track for what was to become the Transcontinental Railroad (or as Barack Obama calls it, the Intercontinental Railroad). Building that railroad line required tunneling through mountains — at one foot a day — building bridges — including one that spanned 700 feet — and doing all the work almost entirely by hand. As best, it will now take seven years for California to lay 119 miles of track — on relatively flat ground in the middle of nowhere. That news came from a contract revision...
  • After 8 Years Of Radical Moves, The Fed’s Still In A Box

    05/24/2016 4:54:13 AM PDT · by expat_panama · 22 replies
    Investors Business Daily ^ | 5/20/2016 | TERRY JONES
    When the economy stumbles, can the Fed still catch its fall? A growing number of economists, market analysts and investors worry that the answer is no. The Federal Reserve’s radical approach to monetary policy since the financial crisis, they believe, has confounded its ability to do anything about a potential downturn — or an unexpected shock to the economy. Worse, others argue that by staying with a zero interest rate for so long, the Fed has put itself into a box... ...the dilemma. The post-financial crisis economic recovery still looks shaky. The Atlanta Fed’s widely followed GDPNow number, a timely...
  • Brexit campaign leadership dominated by climate skeptics

    05/23/2016 10:17:55 PM PDT · by Olog-hai · 41 replies
    EurActiv ^ | May 24, 2016 | James Crisp
    Leading figures in the Vote Leave referendum campaign to take Britain out of the EU have links to a controversial climate-skeptic think tank and question the science behind global warming. The group’s three leaders, Boris Johnson, Michael Gove and figurehead Lord Nigel Lawson, have cast doubt over man-made climate change, which is backed by most of the world’s credible experts.Lawson founded the Global Warming Policy Foundation in 2009 and is a noted climate skeptic. Both the foundation, which broke UK Charity Commission rules for anti-climate bias, and Vote Leave share rich donors. Gove — who tried to stop climate change...
  • What Seven Hours of Waiting Will Get You in Venezuela

    05/23/2016 8:05:11 PM PDT · by grundle · 21 replies
    panampost.com ^ | August 19, 2015 | Editor’s note: the author of this article expressly asked not to be named for fear of reprisals.
    Take a Walk Down the Atrocity Covered in Wallpaper "The simplest explanation is usually the correct one." ~ Occam’s razor "Why can’t you get things? It is very difficult to explain. I understand you are upset, but you can’t give the oligarchy the upper hand. It’s a matter of being united … another economy is an option, the community economy, the one stemming from small producers … do not give these racketeers (the entrepreneurs) resources. You have to wait in line with us as well, but at least in the end you don’t pay as much." The above message is...
  • Refugees Will Build Drones As Part Of Federally Funded Jobs Program

    05/23/2016 9:06:41 PM PDT · by george76 · 82 replies
    Daily Caller News Foundation ^ | 05/23/2016 | RACHEL STOLTZFOOS
    The Department of Labor has awarded Utica, New York, $2 million to teach young refugees how to build drones as part of a summer jobs program. About 400 teenage refugee students living in the city will get part-time summer jobs through the program, as well as tutoring in English and Math. Those who demonstrate academic competence will then take part in a year-long drone building challenge during the school year, as the work and tutoring continues. The 14- and 15-year-old refugee students will learn how to design a drone and then construct their own model using the lab of the...