Category: Business

Mechanical Failure Reportedly Not Cause Of Osprey Crash

Mechanical Failure Reportedly Not Cause Of Osprey Crash — The April 8 Bell Boeing CV-22 Osprey crash in Afghanistan was apparently not due to mechanical failure according the aviation website  FlightGlobal.Com.

The crash occurred as the craft was landing in a wadi around 1 a.m. under brown-out conditions.

Killed were the pilot, a flight engineer, an army Ranger and a civilian.  Others were injured.

The military has ruled out enemy fire.

The Osprey’s fuselage, cockpit,avionics, and flight controls are built at the Boeing Helicopter plant in Ridley Park with the rest of the machine being built by Bell Helicopter in Texas.

Mechanical Failure Reportedly Not Cause Of Osprey Crash

 

Gold Conspiracies, Hit And Run Crashes 

Gold Conspiracies, Hit And Run Crashes 

The U.S. Commodity Futures Trading Commission was told at March 25 hearing that the price of gold was being artificially and illegally  suppressed by JPMorganChase.

The claim was made by Bill Murphy, chairman of the Gold Anti-Trust Action Committee, who has long said the price of gold was being held down to sustain a financial bubble.

This time Murphy unveiled the name of a whistle-blower, Andrew Maguire, a London-based metals trader, who he said had emailed investigators about looming market manipulation which came to pass.

The day after the hearing, Maguire and his wife were injured in a bizarre hit-and-run accident in London which led to a wild police chase involving patrol cars and helicopters, and the arrest of the driver of the striking car.

The name of that driver has not been reported nor have any charges. The Maguires were hospitalized with minor injuries and released on March 28.

The left-leaning firedoglake.com was among the first to report the allegations of Murphy and Maguire. It’s now starting to bubble up in more mainstream publications.

Sunoco Selling Chemical Division To Brazilian Firm

Sunoco Selling Chemical Division To Brazilian Firm — Philadelphia-based Sunoco Inc. is selling its chemical division to Braskem SA, a Brazilian firm, for $350 million in cash. The deal includes its Marcus Hook plant, along with plants in La Porte, Texas and Neal, W.Va.; and the Pittsburgh research and technology center that it acquired from Mitsubishi Corp. back in 2001 during the Bush administration for $700 million.

 The division makes polypropylene, a heavy plastic that is used in consumer materials.
Hope and change.
And you wonder why we gave Brazil a $2 billion loan last August to help them sell oil to the Chinese.
Sunoco Selling Chemical Division To Brazilian Firm

Who Says Economics Can’t Be Fun?

John Papola and Russ Roberts have created a fascinating rap video regarding the historic economics debate  between government-intervention proponent John Maynard Keynes and free-market supporter Friedrich August von Hayek

President Obama’s stimulus plan follows the policy advocated by Keynes.

John F. Kennedy’s and Ronald Reagan’s tax cuts followed the policies advocated by von Hayek.

The video can be found here.

Yuengling Sales Strong In Stormy Beer Sea

Yuengling Sales Strong In Stormy Beer Sea — D.G. Yuengling & Son is sailing strong in a stormy beer sea. While beer sales fell 2.2 percent last year, sales of Pottsville-based Yuengling  rose from 1,811 to 2,025 barrels or 11 percent.

Yuengling Sales Strong In Stormy Beer Sea

Travesty Added To Kelo Tragedy

Travesty Added To Kelo Tragedy — The United States Supreme Court said in 2005 that the city of New London, Ct., could use eminent domain power to take the homes and properties of Susette Kelo and others in the Fort Trumbull section of that city  and give them to large private corporations like Pfizer Inc. for the purpose of economic development.

The vote was as you might expect with the progressive, self-proclaimed caring types like Ruth Bader Ginsburg voting for the faceless corporations and those bumpkin conservatives siding with the the little guys and gals.

Well ho ho ho it has just been reported that Pfizer is shutting down its massive New London facility. The once productive neighborhood will remain a field of weeds for the foreseeable future.

Travesty Added To Kelo Tragedy

Reported Agreement Lets Comcast Run NBC-Universal

It looks like Philly might become a major, if not the major, media center in the world. Comcast has reportedly reached an agreement with General Electric to give the Philadelphia-based corporation known for providing cable service a 51 percent share in NBC Universal whose properties include Universal Studios, NBC and its affiliates and Telemundo Television Studios.

GE now owns 80 percent of NBC Universal with the French-firm Vivendi owning the rest.

Reported Agreement Lets Comcast Run NBC-Universal

GM Spends Billion In Brazil

General Motors announced, July 29, that it was going to spend $1 billion to expand its vehicle lineup in Brazil including operations (i.e. nice-paying jobs) at its Gravitai plant. GM Spends Billion In Brazil -- General Motors announced, July 29, that it was going to spend $1 billion to expand its vehicle lineup in Brazil including operations (i.e. nice-paying jobs) at its Gravitai plant.

It looks like President Obama’s GM bailout was meant to be a foreign aid package.

Meanwhile, Honda  is consolidating all motorcycle production in Kumamoto, Japan hence ending it in the United States. If the idea was to help the U.S. economy maybe Obama should have given Honda the money.

GM Spends Billion In Brazil