News: economics: Kmart To Close Five More Ohio Stores

The retailer notified the state of Ohio that it would be terminating 314 employees as part of the closings.

Kmart to close five more Ohio stores

Thu, 18 Feb 2010 16:36:00 GMT

Well here’s a bad mood waiting to happen. I live in one of the toughest a sections of Cleveland, which is actually the poorest section of the entire city, and is called, the stockyards. So, when I see that Kmart is basically going to lay off most of its work force that depend on Kmart to survive, like I said, here is a bad mood just waiting to happen. I’ll say it again. Cleveland needs some sort of brokerage personality. Cleveland needs the kind of personality that can sit across the table from someone who has 30 or $40 billion and be able to schmooze that person into investing perhaps 20 or $30 million in Cleveland. Unfortunately, Cleveland doesn’t have a personality like that. I mean, there’s nobody that I know of that has that kind of moxie in Cleveland. And until Cleveland can actually draw people here to want to invest in the city, Cleveland is just not going to grow.

The reality is, which most people don’t realize is that the Maschke family and their friends, meaning, the Hana’s, and the other families who were friends of the Maschke’s, actually built most of what Cleveland was. But as generations what on and Cleveland lost a lot of its brokerage talent, Cleveland also lost personalities who could actually schmooze or represent the city of Cleveland in such a positive way as to be able to draw businesses to Cleveland.

And so for those who don’t know, Cleveland Ohio in the space of approximately 6 months saw the population drop from 1,500,000 people down to just 400,000 people. So now Cleveland is basically struggling economically so badly that it is hard for people to realize how Cleveland is suffering. For example, the residents of Cleveland have been informed that as of January 1, 2010, the city of Cleveland will begin charging approximately 9 dollars per month just to pick up our trash.

That’s how bad it’s getting.

Now, the reality also is something that someone urged me to share. When I say that Cleveland is in my blood, it’s the truth. In 1968, when I was being operated on at University hospitals of Cleveland, I began to bleed to death shortly after I was opened up on the operating table. The blood loss was so huge that I basically went through all the blood in University hospital within a matter of minutes. As a result, my family and the station manager of Channel 3, then with the call letters of KYW TV, in Cleveland, went on the air and begged people to please come to University Hospitals to rescue me and to save my life. My father was in tears as he pleaded on the air for his fellow Clevelanders, to please come and save the life of his son. The plea was broadcast over three counties.

According to my family and other people who were there at the time, the brave and wonderful people of Cleveland, rushed to the hospital. And when all was said and done, 5000 people, 5000 of my fellow Clevelanders, from 3 counties, had come to rescue me and to save my life, by giving blood so that the doctors could continue their life saving surgery on my spine, that. was taking place on September 1, 1968. And so the reality is that when I say that I have Cleveland in my blood, I’m really telling a true story of a single moment in time, from so long ago, when I literally was in the cross hairs of death, and my fellow Clevelanders, with their courageous and compassionate effort said, with their actions… NOT ON MY WATCH!

I could not love any city more than I love Cleveland Ohio. All my life I have struggled with so many different issues, both physical and psychological, that I have worked as hard as I could to try to always do something positive with m life, because I always felt that I was a burden to society as a result of my physical disabilities and then subsequently my mental disabilities. So as a result of my being in the position where I am moving towards 60 years old, and basically dealing with some rather serious and not very pleasant physical terminal disabilities, I am always prepared, at almost every given second to give up my life, in defense of various issues I have supported all through my life. Like I am prepared to die in defense of the Constitution or in defense of women’s rights or children’s rights or gay rights or equal rights for all Americans and people throughout the world. But I’m also prepared to die in any given second to help my beloved Cleveland, If I could, I would give my life to help people around the world to realize the courage and the bravery of the people who live here in Cleveland Ohio. For having lived here for over 59 years, I can tell you that not only is Cleveland, we Clevelanders love to say, , the best location in the nation, but I have always looked upon Cleveland as being what I have always called it, which is in fact, a diamond on a sea of glass.

Cleveland

The Terminal Tower Of Cleveland, Ohio – taken in the 1960’s from the top of the Erieview Plaza building

Now, I took this picture when Vernon Stouffer, the founder and owner of Stouffer foods, requested me to take a picture of the terminal tower for his personal office. The picture was taken in the 1960s when I was running a professional darkroom. And this is simply the proof of that picture. Meaning it was a proof shot. And a proof shot is a picture of what you are going to do for your clients. But that is taken with not the camera that you’re actually going to do the shooting with but is in fact taken by another camera simply to get your perspective to make sure that your position and other things are correct, for when you actually take the shot.

I kept this picture all these years. And like I said, it’s easy for people to discount Cleveland and to make fun of our city, But that’s because most people don’t really understand the huge courage and the unlimited kindness that are literally the hallmarks of our great city, Cleveland, Ohio. So, I must admit that I DO love the phrase, the best location in the nation. But due to a single moment in time, when I had no idea that there were any friends about, and yet they came by the thousands, for just one purpose. To save the life of an unknown fellow Clevelander, a young boy of just 17 years of age, who lay dying on an operating table, and who desperately needed their help. And as I said, their courage has lived in my heart all these years. So, on that account, in my heart, Cleveland has always truly been, for me, … a diamond on a sea of glass.

Economic Fact Sheet (Current as of Jan. 2010)

1. The United States currently has a national debt in excess of $12 trillion.

2. The interest on the national debt is now in excess of $11 trillion.

3. The operating budget for the United States government is now in excess of $43 trillion.

4. The members of the United States Congress stole $200 million from the Medicare fund, which was going to go for cost-of-living increases to Medicare recipients, so that the members of Congress could have their paper medical records converted to computerized medical records. The attitude by the members of Congress was that they didn’t care if they murdered American citizens as long as they get the medical protection they wanted.

5. The Christian conservatives and the Republican Party are taking the stand that they do not want American citizens to have any kind of healthcare the of healthcare is extended to anyone that the Christian conservatives or the Republican Party does not like. And this is based not on constitutional law or the Christian conservatives and the Republican Party being patriots. It’s based upon the Christian conservatives Republican Party demanding that the American government understand that no Christian conservative or Republican Party member will in any way ever support the US Constitution above their Christian religion and above their Christian Bible. And so as a result, their Christian Bible and Christian religion says that healthcare should not go to Hispanic Americans or black Americans or Jews or Muslims or gay Americans or Native Americans or anyone who is an immigrant that the Christian conservatives Republican Party just doesn’t happen to like.

And so as a result, the Christian conservatives Republican Party members are trying to commit mass murder in United States by denying health care to millions of American citizens who are in desperate need of medical attention. But the Christian conservatives Republican Party doesn’t really care about that because as far as they’re concerned if they have to walk through rivers of blood to make sure that their Christian religion and their Christian faith is supported more than the Constitution of these United States and the Christian conservatives will do just that.

6. The current level of unemployment in the United States is now over 10%.

7. The current cost for liquidating the national debt is now in excess of $39,000 per person, which means that every man woman and child in the United States would have to pay at least $39,000 to be able to liquidate the national debt.

8. When you look at the history of United States from the American Civil War until present day you find that the Republican Party and Christian conservatives were in total and complete control of the United States government every single time there was a financial crisis from the American Civil War to present day. And that basically means that all the policy decisions that were being made by the American government during these times when these financial catastrophes were taking place were being made strictly by Christian conservatives and the Republican Party . And of course that’s all public record.

9. As my financial analysis of the global economic system , in my see also section below, clearly shows, it was the Republican Party and the Christian conservatives under President Bush who gave the American banking industry $400 billion of taxpayer money and simply told the banking industry to use the money anyway they wanted to. And the banking industry did just that they use the money to pay for expensive gifts and presents and take vacations.

10. To date, the banking industry has only paid back $30 billion out of the over $500 billion that was given to them by the American taxpayers.

11. The issues of profitability indexing, pursuant to profit margins and per unit costs and customer bases as they relate to compensation packages throughout the entire corporate sector have not been resolved. That basically means that most businesses are being held hostage by upper level management and executive employees in their own companies who are demanding more and more for their compensation packages. As a result of this most companies are having to readjust their per unit costs for their goods and services in such a way so that what they are doing is pricing their services and their products. So that mostly the upper class and the wealthy will be able to afford them. And this is being done so these companies and corporations can get as much money into their company as possible.

But they are in fact forgetting one of the major factors which is that while most of the money that any company gets comes from the wealthy are customers most of their day-to-day cash flow actually comes from the middle and lower income customers. This is true regardless of where that company exists. So as a result of this most of the companies in the corporate sector are operating on what is known as a cash poor basis. And this basically means that since they are pricing their goods and services in order to get the most money possible they are foregoing pricing their goods and services so they will be more affordable to the middle and lower income customers, which actually provide these companies with their day-to-day cash flow. And so as a result, these companies don’t have enough money to pay for employees or many of the other day-to-day costs that come up.

This factor has not been dealt with in any country in the world at this time. Furthermore, these companies are refusing to be honest about their financial reporting. They are constantly using and accounting,/statistical variance, which is .5%. And .5% variance is such a large variance pursuant to statistical and financial analysis that you can basically drive a moving van through the space. That is allocated for plus or minus error correction in the statistical analyses and financial analyses that are in fact done with .5% variance. This is why I have never used that level of variance statistically or financially. I’ve always used .05% variance because it is such a small variance that the statistical analysis of the profitability analysis cannot be falsified. It is true that using .05% variance does require an additional 100,000 to 200,000 calculations in order to be able to complete the analysis. But when you consider that the final product is incredibly more honest and reliable. It’s worth it.

12. The banking industry has turned cruel. For example here in Cleveland Ohio Keycorp is taking a lot of pride and threatening senior citizens and kicking them out of their homes so that they can foreclose on the property. This is happening all over Cleveland Ohio and KeyCorp actually is one of the most hated banks in the entire state of Ohio. But KeyCorp is not the only one who’s doing this practice. Because was really happening is that banks all over the United States are basically threatening senior citizens with foreclosure to the point where suicides are now escalating and accelerating at an alarming rate. So badly that the medical community is swamped by the number of suicide calls they are getting. And this is all happening because KeyCorp and other banks like KeyCorp are basically taking the attitude that they don’t care how many men and women and children they have to murder. They just want their money.

When you consider these kinds of factors are going on in the banking industry you realized that the other thing that’s happening is that senior citizens and homeowners are becoming incredibly sick. Do becoming physically ill as a result of the horrible attitude that KeyCorp in other banks like KeyCorp are pushing on the citizens. And there is no help for this at all.

13. Additionally, the medical community is helping with this because we have a hospital here in Cleveland Ohio called MetroHealth that basically is working hard. Just like KeyCorp to threaten senior citizens and have them thrown out of their homes. So that they can foreclose on the property. And basically kill the individuals. I have been personally threatened by KeyBank and MetroHealth and have recorded conversations proving that.

So MetroHealth does all these commercials where they’re talking about how good a hospital they are and yet they have been sued a number of times for Medicare fraud. They have also been sued by their own employees for unfair business practices. And they have lost doctors so badly because they don’t treat their doctors very well either. Nobody likes MetroHealth.

And for the record, it needs to be understood that my grandfather’s brother, Dr. ally Maschke, was the director of medicine at mount Sinai medical center here in Cleveland Ohio until his death. And my cousin, Dr. Victor Vertese, was also the director of medicine at mount Sinai medical center until his death. Additionally, my grandfather, Maurice Maschke, and his business partner, Mark Hanna, who founded the Hana mining company, which became the 3M company, basically built mount Sinai medical center in Cleveland. And in addition to that, my father, Maurice Maschke Junior, was on the Board of Trustees at Case Western Reserve University, University hospitals of Cleveland, Cleveland clinic, and mount Sinai medical center until his death. And in addition to that, my father, Maurice Maschke Junior, and I., were partners and co-owners of pioneer linen supply company of Cleveland Ohio for 25 years until 1975 when we sold the company.

14. So given all of the foregoing as actual facts. The only reason that the accelerated growth has taken place is because certain industries in the United States have in fact been making money. Only because their industries are addressing sections of the population who are otherwise disenfranchised by most of the business sector. For example Tyco International is a business that specializes and fire prevention and warning systems and security systems. And of course they’ve done a really good job because people are scared to death and living in their homes and there are so many foreclosures going on that people are having to protect their homes because in most cities the number of police has dropped so badly because most cities are in a huge budget crisis. In Cleveland, Ohio, for example, the city went from 1,500,000 people down to approximately 400,000 people in only a matter of months. And conditions are so bad in Cleveland that Cleveland is now charging nine dollars a month just pick up our garbage.

So given those facts Tyco International for one example is making a lot of money because people are having to protect their homes because they can’t really, the police that much because the number of police has dropped so the greatly because of the budget crisis going on throughout the world and throughout the United States.

15. Additionally, when you look at a company like Microsoft, who reported a huge profit. This is because Microsoft isn’t doing really well. Because they’re not the only reason Microsoft made this huge profit was because their previous product, Microsoft Windows Vista was actually one of the worst programs and products Microsoft ever created. And so since it did so terribly in the market naturally Microsoft’s increased now is looking fantastic, which is not because if you analyze the overall productivity and effectiveness of Microsoft you will see that they are basically floundering under Steve Ballmer’s direction.

So again, it’s really easy for people to talk about how well the market is doing that the foregoing represents the actual facts of what’s going on in business.

And as I said before, I have been studying the stock market since I was six years old. At age 6 I started studied the stock market at Prescott ball and turban here in Cleveland Ohio. With one of the partner broker’s, Bernie Towell, who was a personal friend of mine. And so every day for four hours every day and age 6 until age 16 I studied the stock market and learned economics and financial analysis . At age 16, while working and being a partner and co-owner of pioneer linen spy company in Cleveland, I did my first financial analysis and profitability analysis . It was done on the linen supply company’s of Cleveland Ohio. The analysis was so good that the results were used to program some computers at the time. And in 42 years and having been a financial analyst I’ve never once been wrong in any financial projection I’ve ever done. Not once. Just like I’m not wrong now.

In my financial analysis of the global economic system in my see also section below, I clearly show that the American market system was going to lose $800 trillion of market value in the third business quarter of 2009. I further substantiated this claim last January in January of 2009. When I explained that the American market system was going to take a huge hit in the third quarter and that it would come out to about $800 trillion of market loss. And that this was in fact in line with the Kondratieff wave . And in fact that’s exactly what did happen. Which means the analysts were wrong. And I was right.

So again, if you go ahead and look at all these factors without looking at all of the peripheral details than you are going to be responding to the information in a very symptomatic, or symptomatically oriented manner whereby you will behave to the information in an extremely reactionary way. By the like term, if you look at all of the information regarding economics throughout the entire global economic system in a problematically oriented manner you will be looking at the financial information in a more anticipatory manner. And much more pervasive rather than in a stereotypical or linear manner. And as a result, you will begin to understand that all of these different factors that I have brought forth in this article right now. Actually do justify what I’m saying that the American market system is on the verge of collapse. And that the economic system for Greece is about to go under. And that unemployment in Spain and France and England is running at almost 30%.

These do not make things look like they’re going good in the United States is basically doing nothing but lying about the economic they I went to school with most of the people who run a lot of these companies in the United States and who are working on Wall Street either went to school with them at Case Western Reserve why went to school with them at Fort Lewis college board went to school with them at southern Arizona school in Tucson Arizona. Or, I did business with them throughout my life.

So again, this is a reality check. And all I can say is, if you don’t believe what I’m saying that’s not a problem. Because you haven’t believe me, for 40 years, what I’ve been talking about all of these issues facing the economic system in the United States and the global economic system. So why would you believe me now?

But the fact is that just because you may not believe what I’m saying doesn’t mean that what I’m saying is not true. Simply means you are refusing or are not able to see the veracity in what I’m saying and that’s all it means.

News: economics

Saturday, February 27, 2010

Kmart To Close Five More Ohio Stores

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