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Yet another solar panel factory failure

Solar-Panel-

Yet another solar panel factory failure. It seems that SoloPower is slowly circling the drain and on its way out they can call it “restructures operations” all they want but when their top Chief Technology Officer Mustafa Pinarbasi hitting the road and accepting a similar role at another California startup it’s not a good sign.Then we have Craig Cornelius, a managing director for SoloPower’s key private investor, New Jersey-based Hudson Clean Energy Partners, also resigned recently it looks to me like all the fat rats or getting out-of-town.

The sad part of this is The company, which state business recruiters won over in 2011, already has received a $10 million state energy loan backed in part by Portland funding and a $20 million manufacturing Business Energy Tax Credit that will pay $13.5 million in cash. The company is ultimately in line to benefit from nearly $58 million in state and local incentives, including tax breaks, a tax credit and loans will this pull it back , I don’t think so if its past is any kind of sign, The first line of product was supposed to slated for completion in April 2012. But missed goals forced executives to renegotiate a $197 million federal loan guarantee in January, The Oregonian reported earlier this month so I think this company will fail I could be wrong we will see.

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Posted by on February 28, 2013 in tech

 

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Billionaires Selling U.S Stocks

Warren Buffett who has been the smiling face backing US stocks seems to be changing his mind. Mr. Buffett have been dumping large amounts of shares in US company’s, most notably Johnson & Johnson, Procter & Gamble, and Kraft Foods.Mr Buffett is saying it has to do with as he put it “disappointing performance”. In the latest filing for Buffett’s holding company Berkshire Hathaway, Buffett has been drastically reducing his exposure to stocks that depend on consumer purchasing habits. Berkshire sold roughly 19 million shares of Johnson & Johnson and reduced his overall stake in “consumer product stocks” by 21%. Berkshire Hathaway also sold its entire stake in California-based computer parts supplier Intel.1DollarBillPlain

Now you may wonder why this is a big deal, It is this 70% of the U.S. economy dependent on you and I buying things, If we don’t buy company’s don’t make money and people like Mr.Buffett don’t invest’.So it seems like that Warren Buffett has lack of faith in these companies and the US stocks and to top it off Mr.Buffett is not the only Billionaire doing this billionaire John Paulson who made his money on the subprime mortgage meltdown, is clearing out of U.S. stocks too.Then we have the darling of the left billionaire George Soros recently sold nearly all of his bank stocks, including shares of JP Morgan Chase, Citigroup, and Goldman Sachs. Between the three banks, Soros sold more than a million shares.On a side note, The $8.5 billion Soros Fund Management now owns 600,000 shares of the gold ETF, worth an estimated $97 million. That’s down from 1.3 million shares, worth more than $227 million so what is this saying for future gold prices.
Why are Billionaires selling U.S stocks it may have to do with a prediction of a 90% massive market correction by Robert Wiedemer, an esteemed economist who saw the housing bubble coming years before it happens! So hold on folks the ride looking like it could be a little rough. we all know if crap happens to the big boys it rolls down the hill and hit we the little people very hard.

 
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Posted by on February 18, 2013 in history, Life, politics

 

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Why raising the federal minimum wage is a joke

Why raising the federal minimum wage is a joke! You have probably read or seen the idea of  raising the minimum wage to $15 dollars and hour, why is this a joke? Well, let think about this for a minute or two if you make the employer pay more at the base pay what is he likely to do? Raise prices on the products they make or sell and there goes the raise that the minimum wage was supposed to help . in other words it’s a game of numbers and the people being paid minimum wage are not making any headway no matter how media or Washington  spin it .

When OBAMA said’s “I believe we reward effort and determination with wages that allow working families to raise their kids and get ahead. And that’s part of the reason I said last night that it’s time for an increase in the minimum wage because if you work full-time, you shouldn’t be in poverty.”It’s a feel-good moment for him and the uninformed but that about it.there is no getting ahead! prices will just go up to cover it, It won’t pull anyone out of poverty all it is. Is just spin!
Barack Obama

 
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Posted by on February 14, 2013 in politics

 

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Total Bank Failures for 2012 – 50

Hometown Community Bank, Braselton, GA

Citizens First National Bank, Princeton, IL

Heritage Bank of Florida, Lutz, FL

NOVA Bank, Berwyn, PA

Excel Bank, Sedalia, MO

First East Side Savings Bank, Tamarac, FL

GulfSouth Private Bank, Destin, FL

First United Bank, Crete, IL

Truman Bank, St. Louis, MO

Waukegan Savings Bank, Waukegan, IL

Jasper Banking Company, Jasper, GA

Second Federal Savings and Loan Association of Chicago IL

Heartland Bank, Leawood, KS

First Cherokee State Bank, Woodstock, GA

Georgia Trust Bank, Buford, GA

The Royal Palm Bank of Florida, Naples, FL

Glasgow Savings Bank, Glasgow, MO

Montgomery Bank & Trust, Ailey, GA

The Farmers Bank of Lynchburg, Lynchburg, TN

Security Exchange Bank, Marietta, GA

Putnam State Bank, Palatka, FL

Waccamaw Bank, Whiteville, NC

Farmers and Traders State Bank, Shabbona, IL
Carolina Federal Savings Bank, Charleston, SC

First Capital Bank, Kingfisher, OK

Alabama Trust Bank, National Association Sylacauga, AL

Security Bank, National Association, North Lauderdale, FL

Palm Desert National Bank, Palm Desert, CA

Plantation Federal Bank, Pawleys Island SC

Inter Savings Bank, FSB Maple Grove MN

HarVest Bank, Gaithersburg MD

Bank of Eastern Shore, Cambridge MD

Fort Lee Federal Savings Bank, FSB, Fort Lee NJ

Fidelity Bank , Dearborn MI

Premier Bank, Wilmette IL

Covenant Bank & Trust,  Rock Spring GA

New City Bank, Chicago IL

Global Commerce Bank, Doraville GA

Home Savings of America, Little Falls MN

Central Bank of Georgia, Ellaville GA

SCB Bank, Shelbyville IN

Charter National Bank and Trust, Hoffman Estates IL

BankEast, Knoxville TN

Patriot Bank Minnesota, Forrest Lake MN

Tennessee Commerce Bank, Franklin TN

First Guaranty Bank and Trust Company, Jacksonville FL

American Eagle Savings Bank, Boothwyn PA

The First State Bank, Stockbridge GA

Central Florida State Bank, Belleview FL

May be more before the end of the year lets hope not

 
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Posted by on December 2, 2012 in fail

 

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Kaiser Permanente Blames ObamaCare for Lay-offs

Kaiser Permanente has laid off 530 employees and puts the blame on ObamaCare. Kaiser officials said they have undertaken a series of layoffs to ensure they meet possible changes that could occur with the implementation of President Obama’s Affordable Care Act, which aims to make sure every American has health care coverage.Now one would think with everyone getting health care coverage medical centers and hospitals would be hiring more staff not laying them off.

With Kaiser Permanente laying off staff, will this mean longer waiting times for care and overall less care for family’s, longer waits for a test, x-rays and surgery’s you bet it will.Is this a trend we will see in other medical centers following suit I believe so

Kaiser Permanente

United Steel Workers Local 7600 President Roy Wiles “I’ve done this a long time. I don’t think it’s ever easy,””It’s very difficult for all the employees.”except for him (Roy Wiles)like he said he’s been doing this for a long time sitting at his desk calling the rank and files and saying sorry you don’t have a job anymore but thinking lucky me I get to keep mine! So you all have some good holidays looking for work.

usw

 
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Posted by on November 18, 2012 in Life, tech

 

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The New Numbers

The New Numbers are starting to come in and it’s not looking good.jobless benefits have increased by 78,000, bringing the total to 439,000, up from 361,000.funny how good the numbers were before the election and how fast they drop less than a week after the election but it just happens “RIGHT”! nothing strange about that right? Would no one fix the numbers to make things look better right?

The Numbers will be going up even more in the next few weeks as well major company’s have or will begin to lay off people .here are few that have started or planning on it

NBCUniversal – 500

Xerox Corp. – 2,500

Citigroup Inc. – 100 in Long Island NY

Atlantic City’s Casinos – Workers Face Layoffs After Sandy

Update: Smithfield Foods Inc. Meat Plant VA – Starting Layoffs

Cummins – Starts Layoffs in Indiana

Solel Solar Systems ( International ) – 140+

Pierce Manufacturing in Bradenton – Layoffs begin

Hostess – 3 Plant Closing = 627 Jobs Lost

Gamesa Energy – 92 Layoff Notices

Wingspan Portfolio Advisors – 459 Possible Layoffs

Wake Forest Baptist Medical NC – 950 Positions by June 2013

Turkey Point Nuclear Plant FL – 277 Layoffs Possible

Tooele County UT – 22

Glens Falls Hospital NY – 29

Bayou Cane, Louisiana – 7 FD Layoffs Likely

Publishing Firm Lulu in Raleigh – 9

Hamilton FD Ohio – Possible 2 Closing – 17 Layoffs

Mississippi County Arkansas – About 12 Layoffs

The Brattleboro Retreat – 27 Layoffs, 4 Positions Lost

World Media Enterprises – 105 Jobs Cut

Reports Of Cuts Coming To GE Healthcare In Vermont

For more layoff information check the website http://www.dailyjobcuts.com/

So this will be adding to the numbers and we don’t know how much small companies’s will be laying off good folks

 
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Posted by on November 15, 2012 in history, Life, politics

 

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Let’s talk about tax’s

Let”t talk about tax’s.Better yet about the new ones that will be coming into effect starting in 2013.I know Obama saying basely he is not going to put new tax’s on the table. An Obama, not they are old tax’s in a way just not taking effect till 2013 and beyond. Many of you may be asking what tax’s Rockwell. well here is a list

taxs

Listed in chronological order of date they will take effect:

• Increasing the hospital insurance portion of the payroll tax from 2.9 percent to 3.8 percent for couples earning more than $250,000 a year, or $200,000 for single filers. Takes effect Jan. 1, 2013.

• Applying the 3.8 percent hospital insurance tax to investment income for couples earning more than $250,000 a year, or $200,000 for single filers, for the first time. Takes effect Jan. 1, 2013.

• A 2.3 percent excise tax on manufacturers and importers of certain medical devices. This is a narrowly targeted tax, but still a tax (and will likely be reflected in consumer prices once it begins). Takes effect Jan. 1, 2013.

• Raise the 7.5 percent adjusted gross income floor for the medical expenses deduction to 10 percent. People who would have qualified for the deduction this year would pay more. Takes effect Jan. 1, 2013.

• An annual fee levied on health insurance providers, based on each company’s share of the total market. Same logic as the levy on branded drug companies cited above. Takes effect Jan. 1, 2013.

• Limiting the amount taxpayers can deposit in flexible spending accounts to $2,500 a year. While the Obama camp says this provision is intended in part to stop the abuse of the system, our experts consider it a tax because it increases taxable income. Takes effect Jan. 1, 2013

• Eliminating the corporate deduction for prescription expenses for retirees. According to the Society for Human Resource Management, certain employers were not only “qualified to receive a subsidy equal to 28 percent of covered prescription drug costs for their retirees,” but the employer also was entitled to an income tax deduction for the subsidy. The idea behind providing both a subsidy and a tax deduction was to reduce taxpayer costs for the Medicare drug plan by encouraging companies pay their retirees’ costs, but the way it was structured was criticized by some as double-dipping. No matter the justification, our experts agreed it was still a tax hike. It takes effect Jan. 1, 2013.

• Increasing taxes on health insurance companies by limiting the amount of compensation paid to certain employees that they can deduct from their taxes. According to Congress’ Joint Committee on Taxation, this will be effective for compensation paid in taxable years “beginning after 2012, with respect to services performed after 2009.” Once again, this is narrowly targeted at health care company executives — not a popular group — but it’s still a tax.

• A 40 percent excise tax on employer-provided “Cadillac” health insurance plans costing more than $10,200 for individuals and $27,500 for families. Takes effect Jan. 1, 2018.

 
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Posted by on November 14, 2012 in politics

 

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