text:
When less stuff is being bought, sold and shipped around the country with each passing month, how in the world can the U.S. economy be in “good shape”? Unlike official government statistics which are often based largely on projections, assumptions and numbers seemingly made up out of thin air, the Cass Freight index is based on real transactions conducted by real shipping companies. And what the Cass Freight Index is telling us about the state of the U.S. economy in 2016 lines up perfectly with all of the other statistics that are clearly indicating that we have now shifted into recession mode.
Since 1995, the Cass Freight Index™ has been a trusted measure of North American freight volumes and expenditures. Our monthly Cass Freight Index Report provides valuable insight into freight trends as they relate to other economic and supply chain indicators and the overall economy.
Data within the Index includes all domestic freight modes and is derived from $25 billion in freight transactions processed by Cass annually on behalf of its client base of hundreds of large shippers. These companies represent a broad sampling of industries including consumer packaged goods, food, automotive, chemical, OEM, retail and heavy equipment. Annual freight volume per organization ranges from $1 million to over $1 billion. The diversity of shippers and aggregate volume provide a statistically valid representation of North American shipping activity.
When they say “all domestic freight modes”, that includes air, rail, truck, etc. As you are about to see, the total amount of stuff that is being bought, sold and shipped around the country by all these various methods has now been declining for 15 months in a row.
If it was just one or two months you could say that it was just an anomaly, but how in the world can anyone explain away 15 consecutive months?
Not only that, but the brand new number that just came out for May 2016 is the lowest number that we have seen for the month of May in 6 years.
Of course the number for April was the lowest number that we have seen for that month in 6 years too, and the number for March was also the lowest number that we have seen for that month in 6 years.
The Index is not seasonally or otherwise adjusted, so it shows strong seasonal patterns. In the chart below, the red line with black markers is for 2016. The colorful spaghetti above that line represents the years 2011 through 2015. The only month this year that was not the worst month since 2010 was February; only February 2011 was worse. That’s how bad it has gotten in the Freight sector:
“Truck tonnage continues to slide for both linehaul and spot markets,” according to the report. And railroads are also singing the blues.
To me, these numbers are absolutely staggering. How anyone can look at them and then attempt to claim that the U.S. economy is heading for good times is a mystery to me.
And this is especially true considering all of the other news that is pouring in. Just today, we learned that new home sales have fallen by the most in 8 months. If you are trying to sell your home, hopefully you will get that done very quickly, because this latest property bubble is starting to burst in a major way.
Today, I also came across a stunning IMF report that was just released that criticized the U.S. for our shrinking middle class and our rising levels of poverty…
A rising share of the U.S. labor force is shifting into retirement, basic infrastructure is crumbling, productivity gains are scanty, and labor markets and businesses appear less adept at reallocating human and physical capital. These growing headwinds are overlaid by pernicious secular trends in income: labor’s share of income is around 5 percent lower today than it was 15 years ago, the middle class has shrunk to its smallest size in the last 30 years, the income and wealth distribution are increasingly polarized, and poverty has risen.
If you follow my work on a regular basis, you already know that everything that the IMF said in that paragraph is true.
A little bit later in the report, the IMF shared some absolutely startling facts about the growth of poverty in this country…
There is an urgent need to tackle poverty. In the latest data, 1 in 7 Americans is living in poverty, including 1 in 5 children and 1 in 3 female-headed households. Around 40 percent of those in poverty are working.
This distressing growth in our poverty numbers has taken place during Barack Obama’s so-called “economic recovery”.
So how bad are things ultimately going to get for America’s poor now that a new economic crisis has begun?
Before I wrap up this article, I have to mention the early returns from the Brexit vote. All day on Thursday, global news sources were reporting that the latest polls had “Remain” comfortably in the lead, and global financial markets soared on that news.
But now that the actual votes are being reported, it looks like it is going to be much, much closer than anticipated. In fact, as I write this article “Leave” is ahead by a 54.16 percent to 45.84 percent margin. Only a relatively small fraction of the votes have been counted so far, but global financial markets are already being spooked by these results.
If “Leave” does actually win, that is going to have enormous implications for the markets and for the future of Europe. So let’s keep a close eye on what is happening. If “Leave” does prove to be victorious, that will be one of the biggest things to hit Europe in decades, and I am sure that I will be posting an article about it tomorrow.
We live at a time when global events are beginning to accelerate, and there is much uncertainty in the air. If you do not have a solid foundation on which to stand, the events of the coming months will likely shake you greatly. I encourage everyone to start focusing on the things that really matter, because a lot of the other things that we obsess over will soon become quite insignificant.
UPDATE: It is official – the United Kingdom has voted to leave the European Union. They are to be greatly congratulated for declaring their independence, but without a doubt this vote is going to cause some very serious short-term economic and financial pain. Already we have witnessed the greatest one day crash in the history of the British pound, and stock markets all over the world are crashing. For much more, please see our latest video update…
What you are about to see is major confirmation that a new economic downturn has already begun. Last Friday, the government released the worst jobs report in six years, and that has a lot of people really freaked out. But when you really start digging into those numbers, you quickly find that things are even worse than most analysts are suggesting. In particular, the number of temporary jobs in the United States has started to decline significantly after peaking last December. Why this is so important is because the number of temporary jobs started to decline precipitously right before the last two recessions as well.
You see, when economic conditions start to change, temporary workers are often affected before anyone else is. Temporary workers are easier to hire than other types of workers, and they are also easier to fire.
In this chart, you can see that the number of temporary workers peaked and started to decline rapidly before we even got to the recession of 2001. And you will notice that the number of temporary workers also peaked and started to decline rapidly before we even got to the recession of 2008. This shows why the temporary workforce is considered to be a “leading indicator” for the U.S. economy as a whole. When the number of temporary workers peaks and then starts to fall steadily, that is a major red flag. And that is why it is so incredibly alarming that the number of temporary workers peaked in December 2015 and has fallen quite a bit since then…
In May, the U.S. economy lost another 21,000 temporary jobs, and overall we have lost almost 64,000 since December.
If a new economic downturn had already started, this is precisely what we would expect to see. The following is some commentary from Wolf Richter…
Staffing agencies are cutting back because companies no longer need that many workers. Total business sales in the US have been declining since mid-2014. Productivity has been crummy and getting worse. Earnings are down for the fourth quarter in a row. Companies see that demand for their products is faltering, so the expense-cutting has started. The first to go are the hapless temporary workers.
Another indicator which is pointing to big trouble for American workers is the Fed Labor Market Conditions Index. Just check out this chart from Zero Hedge, which shows that this index has now been falling on a month over month basis for five months in a row. Not since the last recession have we seen that happen…
Of course I have been warning about this new economic downturn since the middle of last year. U.S. factory orders have now been falling for 18 months in a row, job cut announcements at major companies are running 24 percent higher up to this point in 2016 than they were during the same time period in 2015, and just recently Microsoft said that they were going to be cutting 1,850 jobs as the market for smartphones continues to slow down.
As I have been warning for months, the exact same patterns that we witnessed just prior to the last major economic crisis are playing out once again right in front of our eyes.
Perhaps you have blind faith in Barack Obama, the Federal Reserve and our other “leaders”, and perhaps you are convinced that everything will turn out okay somehow, but there are others that are doing what they can to get prepared in advance.
It may surprise you to learn that George Soros is one of them.
According to recent media reports, George Soros has been selling off investments like crazy and has poured tremendous amounts of money into gold and gold stocks…
Maybe the best argument in favor of gold is that American legendary investor and billionaire George Soros has recently sold 37% of his stock and bought a lot more gold and gold stocks.
“George Soros, who once called gold ‘the ultimate bubble,’ has resumed buying the precious metal after a three-year hiatus. On Monday, the billionaire investor disclosed that in the first quarter he bought 1.05 million shares in SPDR Gold Trust, the world’s biggest gold exchanged-traded fund, valued at about $123.5 million,” Fortune and Reuters reported Tuesday.
George Soros didn’t make his fortune by being a dummy.
Obviously he can see that something big is coming, and so he is making the moves that he feels are appropriate.
If you are waiting for some type of big announcement from the government that a recession has started, you are likely going to be waiting for quite a while.
How it usually works is that we are not told that we are in a recession until one has already been happening for an extended period of time.
For instance, back in mid-2008 Federal Reserve Chairman Ben Bernanke insisted that the U.S. economy was not heading into a recession even though we found out later that we were already in one at the moment Bernanke made that now infamous statement.
On my website, I have been documenting all of the red flags that are screaming that a new recession is here for months.
You can be like Ben Bernanke in 2008 and stick your head in the sand and pretend that nothing is happening, or you can honestly assess the situation at hand and adjust your strategies accordingly like George Soros is doing.
Of course I am not a fan of George Soros at all. The shady things that he has done to promote the radical left around the globe are well documented. But they don’t call people like him “the smart money” for no reason.
Down in Venezuela, the economic collapse has already gotten so bad that people are hunting dogs and cats for food. For most of the rest of the world, things are not nearly that bad, and they won’t be that bad for a while yet. But without a doubt, the global economy is moving in a very negative direction, and the pace of change is accelerating.
In the end, most people end up believing exactly what they want to believe, and we are not too far away from the time when those choices are going to have very severe consequences.
*About the author: Michael Snyder is the founder and publisher of The Economic Collapse Blog. Michael’s controversial new book about Bible prophecy entitled “The Rapture Verdict” is available in paperback and for the Kindle on Amazon.com.*
Those that were hoping for an “economic renaissance” in the United States got some more bad news this week. It turns out that the U.S. economy is in significantly worse shape than the experts were projecting. Retail sales unexpectedly declined in March, total business sales have fallen again, and the inventory to sales ratio has hit the highest level since the last financial crisis. When you add these three classic recession signals to the 19 troubling numbers about the U.S. economy that I wrote about last week, it paints a very disturbing picture. Virtually all of the signs that we would expect to pop up during the early chapters of a major economic crisis have now appeared, and yet most Americans still appear to be clueless about what is happening.
Even I was surprised when the government reported that retail sales had actually fallen in March. Consumer spending is a very large part of our economy, and so if consumer spending is slowing down already that certainly does not bode well for the rest of 2016. The following comes from highly respected author Jim Quinn…
The Ivy League educated “expert” economists expected March retail sales to increase by 0.1%. They only missed by $6 billion, as retail sales FELL by 0.3%. They have fallen for three straight months. At least gasoline sales were strong, as prices have risen 22% since mid-February. That should do wonders for the finances of American households. If you exclude gasoline sales, retail sales fell by 0.4%. As the chart below reveals, the year over year change in retail sales has been at or near recessionary levels for most of 2015, and into 2016.
You can view the chart that he was referring to right here. In addition to a decline in retail sales, total business sales have also been falling, and this is another classic recession signal. The following comes from Wolf Richter…
Total business sales fell again in February, the Commerce Department reported today. They include sales by manufacturers, retailers, and wholesalers of all sizes across the US economy. This measure is far broader than the aggregate sales by publicly traded companies, which too have been falling.
At $1.284 trillion in February, total business sales were down an estimated 0.4% from January, adjusted for seasonal and trading-day differences but not for price changes. And they were down 1.4% from the already beaten-down levels of February last year. They’re back where they’d first been in November 2012!
Yes, the stock market has been on quite a run for the past several weeks, but that temporary rebound is not based on the economic fundamentals.
The truth is that the real economy is definitely starting to slow down substantially. If you want to break it down very simply, less stuff is being bought and sold and shipped around the country, and that tells us far more about what is coming in the months ahead than the temporary ups and downs of stock prices.
Another huge red flag is the fact that the inventory to sales ratio in the U.S. has hit the highest level that we have seen since the last financial crisis…
The crucial inventory-to-sales ratio, which tracks how long unsold inventory sits around in relationship to sales, is now at a mind-bending 1.41. That’s the level the ratio spiked to in November 2008, after the Lehman bankruptcy in September had put the freeze on the economy.
Inventories represent prior sales by suppliers. When companies try to reduce their inventories, they cut their orders. Suppliers see these orders as sales. As their sales slump, suppliers adjust by cutting their own orders, thus causing the sales slump to propagate up the supply chain. They all react by cutting their expenses. And if it lasts, they’ll cut jobs. Inventory corrections have a nasty impact on the overall economy.
Because sales have slowed down, inventories are starting to pile up to alarmingly high levels. And when companies see that business is slowing down, they start to let people go.
Somehow, most of the talking heads on television don’t seem too alarmed by this.
But ordinary Americans are beginning to become alarmed about what is happening. In fact, the percentage of Americans that believe that the U.S. economy is “getting worse” is now the highest it has been since last August…
One of the more glaring examples of how strong pessimism has become is Gallup’s U.S. Economic Confidence Index. The measure gauges the difference between respondents who say the economy is improving or declining. The most recent results are not good.
Fully 59 percent say the economy is “getting worse” against just 37 percent who say it is “getting better.” That gap of 22 percentage points is the worst since August, according to Gallup, which polled 3,542 adults.
Personally, I thought that we would be a little further down the road by now, but without a doubt a new economic downturn has begun in America.
It’s funny – yesterday I took time out to write an article about the horrible suffering that ISIS sex slaves are enduring, and a few of my critics took that as a sign that there must not be enough bad economic news to write about.
Well, the truth is that this isn’t the case at all. The global economic meltdown is steaming along, even if it is moving just a little bit slower than many of us had originally anticipated. We are moving in the exact direction that myself and many others had warned about, and the rest of 2016 is looking quite ominous for the global economy.
So hopefully everyone (including the critics) is using whatever time we have left wisely. Because I definitely wish the very best for everyone during the exceedingly hard times that are coming.
*About the author: Michael Snyder is the founder and publisher of The Economic Collapse Blog. Michael’s controversial new book about Bible prophecy entitled “The Rapture Verdict” is available in paperback and for the Kindle on Amazon.com.*
Has the U.S. economy gotten better over the past six months or has it gotten worse? In this article, you will find solid proof that the U.S. economy has continued to get worse over the past six months. Unfortunately, most people seem to think that since the stock market has rebounded significantly in recent weeks that everything must be okay, but of course that is not true at all. If you look at a chart of the Dow, a very ominous head and shoulders pattern is forming, and all of the economic fundamentals are screaming that big trouble is ahead. When Donald Trump told the Washington Post that we are heading for a “very massive recession“, he wasn’t just making stuff up. We are already seeing lots of things happen that never take place outside of a recession, and the U.S. economy has already been sliding downhill fairly rapidly over the past several months. With all that being said, the following are 19 facts that prove things in America are worse than they were six months ago…
#1 U.S. factory orders have now declined on a year over year basis for 16 months in a row. As Zero Hedge has noted, in the post-World War II era this has never happened outside of a recession…
In 60 years, the US economy has not suffered a 16-month continuous YoY drop in Factory orders without being in recession. Moments ago the Department of Commerce confirmed that this is precisely what the US economy did, when factory orders not only dropped for the 16th consecutive month Y/Y, after declining 1.7% from last month
#3 It is being projected that corporate earnings will be down 8.5 percent for the first quarter of 2016 compared to one year ago. This will be the fourth quarter in a row that we have seen year over year declines, and the last time that happened was during the last recession.
#4 Total business sales have fallen 5 percent since the peak in mid-2014.
#5 S&P 500 earnings have now fallen a total of 18.5 percent from their peak in late 2014.
#6 Corporate debt defaults have soared to the highest level that we have seen since 2009.
#9 51 oil and gas drillers in North America have filed for bankruptcy since the beginning of last year, and according to CNN we could be on the verge of seeing the biggest one yet…
Shale oil driller SandRidge Energy (SD) warned there was “substantial doubt” it would survive the oil downturn. The Oklahoma City company said this week it is exploring a potential Chapter 11 bankruptcy filing.
Based on its $3.6 billion of debt, SandRidge would be the biggest North American oil-focused company to go bust during the current downturn, according to a CNNMoney analysis of stats compiled by law firm Haynes and Boone.
#10 According to Challenger, Gray & Christmas, job cut announcements by major firms in the United States were up 32 percent during the first quarter of 2016 compared to the first quarter of 2015.
#11 Consumers in the United States accumulated more new credit card debt during the 4th quarter of 2015 than they did during the entire years of 2009, 2010 and 2011 combined.
#12 Existing home sales in the U.S. were down 7.1 percent during the month of February, and this was the biggest decline that we have witnessed in six years.
#14 The Restaurant Performance Index in the U.S. recently dropped to the lowest level that we have seen since 2008.
#15 Major retailers all over the country are shutting down hundreds of stores as the “retail apocalypse” accelerates.
#16 If you take the number of working age Americans that are officially unemployed (8.1 million) and add that number to the number of working age Americans that are considered to be “not in the labor force” (93.9 million), that gives us a grand total of 102 million working age Americans that do not have a job right now
#17 Since peaking during the 3rd quarter of 2014, U.S. exports of goods and services have been steadily declining. This is something that we never see outside of a recession…
#18 The cost of everything related to medical care just continues to skyrocket even though our wages are stagnating. According to the Social Security Administration, 51 percent of all American workers make less than $30,000 a year, and yet the cost of medical care just hit a brand new all-time high…
#19 Our government debt continues to spiral out of control. At this point it is sitting at a staggering total of $19,218,516,838,306.52, but when Barack Obama first entered the White House it was only 10.6 trillion dollars. That means that our government has been stealing an average of more than 100 million dollars an hour from future generations of Americans every single hour of every single day since Barack Obama was inaugurated…
How in the world can anyone look at those numbers and suggest that everything is okay?
I simply do not understand how that could be possible.
Part of the problem is that Americans have been trained to be irrationally optimistic. It is fine to have an optimistic outlook on life, but when it causes you to throw logic and reason out the window that is not good.
For example, you can be “optimistic” about your ability to fly all you want, but if you step off a 10 story building you are going to take a very hard fall to the ground.
Similarly, you can ignore all of the facts and pretend that our economic prosperity is sustainable all you want, but it won’t change the fundamental laws of economics.
On a personal note, I would like to thank everyone that has helped make my new book the #1 new release in Christian eschatology on Amazon.com. I understand that a lot of my secular readers are not going to understand my fascination with Bible prophecy, and that is okay. I felt that I needed to write this book to address some very serious errors that are being taught in churches all over America today, and I also wanted to inspire believers to face the great hardships and persecution that are coming.
Just because very difficult times are approaching does not mean that it will be time to run and hide. My wife and I always live our lives with no fear, and when things get crazy we believe that it will be an opportunity to do even more good. We believe that the greatest chapters of our lives are still ahead of us, and we want people to understand why they can look forward to the future even though great darkness is rising all around us.
So yes, I definitely carry a message of warning.
But I also bring a message of hope.
As we look toward the future, there is much to be concerned about, but there are also things happening that are worth getting extremely excited about.
It is when times are the darkest that the light is needed the most, and very soon light will be greatly, greatly needed in the United States of America.
Guess what Donald Trump is saying now? Last week, I discussed how Robert Kiyosaki and Harry Dent are warning that a major crisis is inevitable, but I didn’t expect Donald Trump to come out and say essentially the exact same thing. On Saturday, the Washington Post released a stunning interview with Donald Trump in which he boldly declared that we heading for a “very massive recession”. He also warned that we are currently in “a financial bubble” and that “it’s a terrible time right now” to be investing in stocks. These are things that you may be accustomed to hearing on The Economic Collapse Blog, but to hear them from the frontrunner for the Republican nomination is another thing altogether.
Whether you plan to vote for Donald Trump or not, at least we can all appreciate that he doesn’t talk like a politician. He tells it like he sees it, and he told the Washington Post that he considers the official unemployment rate that is put out by the Obama administration to be completely fraudulent…
“First of all, we’re not at 5 percent unemployment. We’re at a number that’s probably into the twenties if you look at the real number,” Trump said. “That was a number that was devised, statistically devised to make politicians — and, in particular, presidents — look good. And I wouldn’t be getting the kind of massive crowds that I’m getting if the number was a real number.”
And before you dismiss this, perhaps you should consider that the Federal Reserve also considers the government unemployment number to be so inaccurate that they secretly have been calculating the unemployment rate on their own…
Because it distrusted the Labor Department’s unemployment statistics, the Federal Reserve — without any fanfare — started calculating its own jobless rate two years ago.
And the Fed’s calculation, called the Labor Market Conditions Index, or LMCI, shows that the US unemployment rate in February was 5.8 percent. That’s much higher than the 4.9 percent official jobless rate reported by the Labor Department.
Of course if truly honest numbers were being used, the unemployment rate would not be anywhere close to this range. According to John Williams of shadowstats.com, the broadest measure of unemployment is currently sitting at 22.9 percent.
And just last week I showed my readers that 23.2 percent of all Americans in their prime working years do not have a job right now, and that inactivity rates for both men and women in the U.S. are currently far higher than they were during the last recession.
So when Donald Trump says that we are at an unemployment number “that’s probably into the twenties”, I would have to rate that statement as mostly true.
Of course things are about to get a whole lot worse. According to Challenger, Gray & Christmas, job cut announcements by major firms were up 32 percent during the first quarter of 2016 compared to the first quarter of 2015.
When big corporations are doing well, they tend to hire more people. But when their earnings start to go down, one of the very first things they tend to do is to lay people off.
Sadly, that is what we are starting to see right now. According to Wolf Richter, it is being projected that corporate earnings per share for the first quarter will decline a whopping 8.5 percent compared to one year ago…
Even analysts who estimate pro-forma, ex-bad-items, non-GAAP earnings that S&P 500 companies propagate to look better and that these analysts use to inflate their stock-price targets, just threw in the towel on the quarter.
They expect these inflated earnings per share for the first quarter to plunge 8.5% from a year ago, according to FactSet. If this holds after S&P 500 companies report their ex-bad-items earnings, it would be the worst EPS decline since Q3 2009.
It would also be the fourth quarter in a row of year-over-year earnings declines, a phenomenon that last happened during the Great Recession from Q4 2008 through Q3 2009.
In the past, we have almost always seen corporate profit margins peak and start declining before a recession hits. The following chart comes from Jesse Felder, and it shows that this has happened prior to almost every recession in the post-World War II era, and now it is happening again…
Why can’t more people see this?
For months, I have been pointing out to my readers how history is repeating. The exact same patterns that have happened just prior to previous recessions are happening again, but most people just refuse to see the truth.
Yes, U.S. stocks rebounded substantially in March, but that was not based on the economic fundamentals. Just look at the following chart from Zero Hedge. At some point stock prices and corporate earnings will start converging once again. There is simply no way in the world that stock prices can stay disconnected from reality indefinitely…
So when Donald Trump says that we are in “a financial bubble” and that “it’s a terrible time right now” to be investing in stocks, I would have to rate those statements as absolutely true.
I would also have to rate his statement that we are heading toward a “very massive recession” as absolutely true as well, and legendary investor Jim Rogers agrees with me. In fact, he recently told Bloomberg that there is “a 100 percent probability that the U.S. economy would be in a downturn within one year“.
For a legendary investor such as Jim, that is quite a bold statement to make. And of course most American families already feel like they are in an economic downturn. This is something that my wife and I talked about during our most recent show…
The truth is that the U.S. economy has never even gotten close to recovering to the level it was at just prior to the last recession, and now the next major crisis is upon us.
But this new crisis is not going to be like the last one. It is going to be much, much worse before it is all said and done, and what is coming is going to bring America to her knees. This is something that I discuss in my new book. The economic devastation that is coming is going to be unlike anything that any of us have ever known, and it is going to shake America to the very core.
So enjoy the remaining days of “normal life in America” while you still can.
A lot of people are using this time to party, but if you are wise you are using it to prepare.
For the first time ever, total credit card debt in the United States is approaching a trillion dollars. Instead of learning painful lessons from the last recession, Americans continue to make the same horrendous financial mistakes over and over again. In fact, U.S. consumers accumulated more new credit card debt during the 4th quarter of 2015 than they did during the years of 2009, 2010 and 2011 combined. That is absolutely insanity, because other than payday loans, credit card debt is just about the worst kind of debt that consumers could possibly go into. Extremely high rates of interest, combined with severe penalties and fees, can choke the financial life out of almost any family in no time at all.
These days, most Americans use credit cards for various purposes, and they can be very convenient.
And if you pay them off every single month, they don’t become a problem.
Unfortunately, a lot of people are not doing this. According to CNBC, total U.S. credit card debt rose by an astounding 71 billion dollars last year alone…
Last year, credit card debt in the U.S. surged by approximately $71 billion to $917.7 billion, according to a new study from CardHub.com. The research also found that most of the debt accrued in 2015 came in the fourth quarter, when Americans tacked on more than $52 billion.
“With 7 of the past 10 quarters reflecting year-over-year regression in consumer performance, evidence is mounting to support the notion that credit card users are reverting to pre-downturn bad habits,” CardHub CEO Odysseas Papadimitriou said in a statement.
And as noted above, things were particularly gruesome during the 4th quarter of last year.
According to Alternet, Americans added more credit card debt during those three months than during the entire years of 2009, 2010 and 2011 combined…
Not since we headed into the Great Recession of 2008 have we been quite so loosey-goosey with our credit cards, racking up debt with stunning speed. Of our 4Q totals, CardHub notes, “during this one quarter, we added more debt than in 2009, 2010 and 2011 put together.” That brings dollars owed to credit card companies by each debt-saddled American family up to $7,879, the highest since the Great Recession.
I can’t even begin to describe how unwise this is. When I was in my twenties, I made the same mistakes that so many other Americans are making right now. I very foolishly racked up large balances on my credit cards, and it took years of extremely painful payments to fix those mistakes.
In America today, 37 percent of all households maintain credit card balances from month to month, and the average level of credit card debt for those households is $15,700. The following comes from CBS Minnesota…
According to NerdWallet, 37 percent of American households have credit card debt, which is defined as not paying off the full balance every month. Using data from the Federal Reserve of New York, U.S. Census and its own poll, NerdWallet found the average balance for those in credit debt is $15,700.
What most people don’t realize is that by letting balances run from month to month, you can end up paying just about as much in interest as you did for the original purchases.
For the sake of simplicity in calculating the cost of the average credit card debt, let’s assume an APR of 16% and a fixed payment. We’ll also assume a minimum payment of 2% of the principal balance of $15,762, the average as of the end of 2015, or $315.
Based on those terms — and assuming you don’t add any more to your credit card balance — it would take 84 months, or seven years, to pay off the balance in full. During that time, you’ll pay $10,402 in interest — about two-thirds of the original balance — for a total of $26,164. This averages out to about $124 in interest per month.
The scenario above assumes that all payments are made on time. But a single late payment can trigger higher interest rates, penalties and fees that can be absolutely suffocating.
In fact, some people end up paying back three, four or five times as much as they originally borrowed to the credit card companies.
If you use credit cards for convenience or to buy things online or to automatically pay bills, that is fine. Just don’t let balances accumulate. As you can see, that can be financial suicide.
And as we head into a new global recession, you definitely don’t want to be saddled with high levels of debt. All of us have little luxuries that we can cut back on, and now is not the time to be living on the financial edge.
Just look at some of the troubling signs that we have seen in the news in recent days…
-The U.S. oil and rig count just dropped to the lowest level ever recorded
-One Houston CEO told employees that he was laying off that we have entered a “depression”
-It is being reported that 35 percent of all oil and gas companies around the world are at risk of falling into bankruptcy
Did you know that there are some U.S. states that have already officially fallen into recession? Economic activity all over the planet is in the process of slowing down, and there are some areas of the country that are really starting to feel the pain. In particular, any state that is heavily dependent on the energy industry is hurting right now. During the years immediately following the last recession, the energy industry was the primary engine for the growth of good paying jobs in America, but now that process is completely reversing. All over the U.S. energy companies are going under, and thousands upon thousands of good jobs are being lost.
As economists size up the chances of the first nationwide slump since 2009, pockets of the country are already contracting. Four states — Alaska, North Dakota, West Virginia and Wyoming — are in a recession, and three others are at risk of prolonged declines, according to indexes of state economic performance tracked by Moody’s Analytics.
The three additional states that are “at risk of prolonged declines” are Louisiana, New Mexico and Oklahoma. What all of those seven states have in common is a strong dependence on the energy industry. Last year, 67 oil and gas companies in the United States filed for bankruptcy, and approximately 130,000 good paying energy jobs were lost.
If the price of oil does not go back up, this could be just the beginning. It is being reported that a whopping 35 percent of all oil and gas companies around the planet are at risk of falling into bankruptcy, and the financial institutions that have been backing these energy companies are getting very nervous.
Of course things could shift dramatically for oil and gas companies if World War 3 suddenly erupts in the Middle East, and that could literally happen at any time. But for the moment the outlook for the energy industry continues to be quite dreary.
Let us also keep in mind that the problems for the U.S. economy are not limited to the energy industry. According to CNBC, corporate profits in the United States have now declined for three straight quarters, and this is the very first time this has happened since the last recession…
With 87 percent of the S&P 500 reporting, total blended fourth-quarter earnings have shown a decline of 3.6 percent, according to FactSet. Assuming the trend holds up, it will mark the first time profits have fallen for three straight quarters since 2009.
But the road ahead doesn’t get any easier.
FactSet is now projecting that earnings will decline 6.9 percent in the first quarter, a stunning move lower over time considering that in September the expectation was for 4.8 percent growth.
As corporate profits fall, layoffs are starting to increase. Just the other day we learned that the number of job cuts in this country shot up 218 percent during the month of January according to Challenger, Gray & Christmas.
It is starting to look very much like 2008 all over again, and I am convinced that it will soon be much, much harder to find work in America.
Here are some more numbers that indicate that the U.S. is heading into a major economic slowdown…
–U.S. exports were down 7 percent on a year over year basis in December.
Well, if the U.S. economy is in such great shape, then why are some of the biggest retailers in the entire nation shutting down stores at a frightening pace. The following list of store closures comes from one of my previous articles…
-Wal-Mart is closing 269 stores, including 154 inside the United States.
-The Gap is in the process of closing 175 stores in North America.
-Aeropostale is in the process of closing 84 stores all across America.
-Finish Line has announced that 150 stores will be shutting down over the next few years.
-Sears has shut down about 600 stores over the past year or so, but sales at the stores that remain open continue to fall precipitously.
Perhaps things look fine for the moment in New York City or Washington D.C. or San Francisco or wherever it is that these “reporters” write their articles.
But for ordinary Americans that operate in the real world, the pain of this new economic downturn is already exceedingly apparent. Here is more from Bloomberg…
Dale Oxley doesn’t need to hear about rising odds of a U.S. recession to dread the future. For the West Virginia homebuilder, the downturn has already arrived.
“Everyone is going to have to tighten their belts,” said Oxley, the 48-year-old owner of a Charleston-area construction company. “The next couple of years are going to be difficult.”
Unfortunately for hard working Americans like Oxley, what we have seen so far is just the tip of the iceberg.
We have entered a long downturn that is ultimately going to be even more painful than the last recession was.
And everything changes if Saudi Arabia and Turkey get trigger happy and decide to invade Syria. If that happens, it could very well be the spark that sets off World War 3 and a full-blown meltdown of the global financial system.
We have not seen global economic activity fall off this rapidly since the great recession of 2008. Manufacturing activity is imploding all over the planet, global trade is slowing down at a pace that is extremely alarming, and the Baltic Dry Index just hit another brand new all-time record low. If the “real economy” consists of people making, selling and shipping stuff, then it is in incredibly bad shape. Here in the United States, the dismal economic numbers continue to stun all of the experts. For example, on Monday we learned that the Texas general business activity index just hit a six year low…
Economic activity in Texas keeps getting worse.
The general business activity index out Monday from the Dallas Federal Reserve for January was -34.6, a six-year low and much worse than economists had expected.
The forecast for the monthly index was -14, following a December reading of -21.6 (revised from -20.1) that was also worse than expected.
The last coal train to leave Erwin rolled slowly out of town just after at 3 p.m. Thursday, less than eight hours after CSX Transportation employees heard the news that rocked all of Unicoi County.
“Its a hard pill to swallow,” county Mayor Greg Lynch said. “Of course, we heard rumors that something was coming down. But never in my wildest dreams did I imagine they would just shut down and leave town.”
CSX delivered the news of its decision to immediately close Erwin’s 175-acre rail yard and abruptly end the employment of the facility’s 300 workers in a series of meetings with employees conducted at the start of their morning shifts.
It has been said that if you want to know what is really happening with the U.S. economy, just watch the railroads.
And right now, rail traffic all over the nation is falling to depressingly low levels.
With regard to the train freight article this morning, we have in Grand Junction, CO., literally hundreds of engines sidelined on the tracks. They are three deep on some tracks and easily number over 250. I have never seen this many engines on the tracks before and I feel this is just another indicator of the slowdown in shipping.
In case you are tempted to think that this is just anecdotal evidence, I want you to consider what is happening to the largest railroad company in the United States.
According to Wolf Richter, operating revenues for Union Pacific were down 15 percent last year…
Union Pacific, the largest US railroad, reported awful fourth-quarter earnings Thursday evening. Operating revenues plummeted 15% year over year, and net income dropped 22%.
It was broad-based: The only category where revenues rose was automotive (+1%). Otherwise, revenues fell: Chemicals (-7%), Agricultural Products (-12%), Intermodal containers (-14%), Industrial Products (-23%), and Coal (-31%). Shipment of crude plunged 42%.
So Union Pacific did what American companies do best: it laid off 3,900 people last year.
And of course we can see evidence of the emerging economic slowdown all around us pretty much wherever we look. Sprint just laid off 8 percent of its workforce, GoPro is letting go 7 percent of its workers, and Wal-Mart just announced the closure of 269 stores.
But instead of dealing with reality, there are a lot of irrational optimists that insist that things will start bouncing back any day now. For instance, CNBC is reporting that Goldman Sachs is forecasting that the S&P 500 will end up finishing the year back at 2,100…
Goldman, though, is sticking with its forecast that the S&P 500 will rebound and finish the year at 2,100, a rise of about 11 percent from current levels but basically no net gain for the full year.
It is easy to say something like that, but the actions of the big banks speak louder than words.
Bank of America and Citigroup reduced headcount the most, eliminating about 20,000 staffers between them, according to fourth-quarter earnings reports from each bank. The respective moves amount to 4.6 percent and 4 percent fewer workers at the banks. JPMorgan Chase reported in its earnings that it employs 6,700 fewer workers than a year ago.
And guess what?
The “too big to fail” banks did the exact same thing just before the great stock market crash of 2008.
Since June 2015, approximately 15 trillion dollars of global stock market wealth has been wiped out. After a brief respite at the end of last week, it appears that the global financial crisis is getting ready to accelerate once again.
On Monday, the price of oil dipped back under 30 dollars, the Dow was down another 208 points, and the Nikkei is currently down another 389 points in early trading.
Somewhere close to one-fifth of all global stock market wealth has already been wiped out.
We only have about four-fifths left.
But in the end, I can talk about these numbers until I am blue in the face and some people will still not get prepared.
Some people have so much faith in Barack Obama, the Federal Reserve and the mainstream media that they would literally follow them off a cliff.
By now, most of the people that believe that they should prepare for the coming crisis have already gotten prepared, and most of those that want to believe that everything is going to work out just fine somehow are never going to get prepared anyway.
What is going to happen is going to happen, and tens of millions of people are going to end up bitterly regretting not listening to the warnings when they still had the chance.
Something has just happened that has signaled a recession every single time that it has occurred since World War I. 16 times since 1919 there have been at least 8 month-over-month declines in industrial production during the preceding 12 month period, and in each of those 16 instances the U.S. economy has plunged into recession. Now that it has happened again, will the U.S. economy beat the odds and avoid a major economic downturn? I certainly wouldn’t count on it. As I have written about repeatedly, there are a whole host of other numbers that are screaming that a new recession is here, and global financial markets are crumbling. It would take a miracle of epic proportions to pull us out of this tailspin, and yet there are many people out there that are absolutely convinced that it will happen.
John Hussman is not one of them. In his most recent weekly comment, he examined this stunning correlation between month-over-month declines in industrial production and recessions. To me, what Hussman has presented is overwhelmingly conclusive…
Last week, following a long period of poor internals and weakening order surplus, we observed fresh declines in industrial production and retail sales. Industrial production has now also declined on a year-over-year basis. The weakness we presently observe is strongly associated with recession. The chart below (h/t Jeff Wilson) plots the cumulative number of month-over-month declines in Industrial Production during the preceding 12-month period, in data since 1919. Recessions are shaded. The current total of 10 (of a possible 12) month-over-month declines in Industrial Production has never been observed except in the context of a U.S. recession. Historically, as Dick Van Patten would say, eight is enough.
After looking at that chart, is there anyone out there that still doubts that the U.S. economy is in significant trouble?
Many estimates of U.S. GDP growth for the fourth quarter of 2015 are already just a small fraction of one percent. It would not be a surprise at all to see a negative number posted once it is all said and done.
And of course more bad news for the economy just keeps pouring in. So far this week we have learned that the growth rate of federal withholding taxes has turned negative, Johnson & Johnson plans has announced that it is eliminating 3,000 jobs, and BP has announced that it is eliminating 4,000 jobs.
Of course it is not exactly a surprise that BP is cutting jobs. At this point the entire energy industry is absolutely hemorrhaging workers. As I wrote about yesterday, 130,000 good paying energy jobs have been lost in the United States since the beginning of last year.
But now we are seeing major firms outside the energy industry cutting payrolls. Even financial giants such as Morgan Stanley are looking for ways to cut costs…
During a conference call, CEO James Gorman uttered a sentence that will most likely make the bank’s staff shudder.
“Too many employees based in high-cost centers are doing work that can sensibly be done in lower-cost centers,” he said.
The whole environment is changing.
When things start to get tough, big corporations start to get rid of people. We saw this back in 2008, and it is starting to happen again right now.
And just like last time around, we are going to see millions of Americans lose their jobs during the hard years that are ahead of us.
But thankfully for the moment there is a brief lull in the action. The financial turmoil that has gripped the planet was calmed on Tuesday when China announced that their economy grew at a rate of 6.8 percent during the fourth quarter of 2015. This was right in line with expectations, and markets around the world responded positively to the news.
There is just one huge problem. Everyone knows that GDP figures coming out of China are essentially meaningless. If you believe that the Chinese economy actually grew at a 6.8 percent rate during the fourth quarter of 2015, then I have a bridge to sell you. Virtually every other number coming out of China over the past several months tells us that the Chinese economy is shrinking, and so that 6.8 percent figure is extremely questionable at best.
Do you want to know the last time the communist Chinese admitted to having a recession?
It was in 1976.
Over the past four decades, economic growth figures have become a source of great national pride for China. To admit that the economy is now imploding would bring great shame on the Chinese government and the nation as a whole, and so that must be avoided at all costs.
Yes, the numbers are fraudulent in the U.S. too. According to John Williams of shadowstats.com, if the U.S. was actually using honest numbers the last recession never would have technically ended.
But in China they take this to ridiculous extremes. The Chinese economy is fueled by exports, and Chinese exports have been down on a year over year basis for six months in a row. And the primary reason why commodity prices have been absolutely collapsing is because of the economic contraction in China.
Of course if China had released a GDP number that was honest, global markets would have crashed hard. So their lies are making everyone else feel a bit better for the moment, and every day of relative stability that we can enjoy from here on out is something to be thankful for.
As you read this article, markets all over Asia, Europe, South America and the Middle East are already in bear market territory. More than 30 percent of the market has been wiped out in Brazil and Hong Kong, more than 40 percent of the market has been wiped out in China and Italy, and about 50 percent of the market has been wiped out in Saudi Arabia.
We are already experiencing a major global financial crisis.
The only question remaining is how bad it will eventually become.
Let us hope for more days like this one that are relatively calm. But I wouldn’t count on things turning around significantly any time soon, because the economic fundamentals are telling us that big trouble is ahead.


text:
Burger King Canada is once again offering Cheesy Tots on the menu for a limited time.
Cheesy Tots feature a bite-sized blend of warm potatoes with melted cheese.
The returning cheesy side option can be found at participating Burger King locations across Canada for a limited time only.
Cheesy Tots first appeared on menus in Canada back in October 2018.
Image via Burger King

domain: news


text:
Featuring a 50 percent increase in the prize pool, ESL has announced that its 2016 Pro League will feature a cool $1.5 million in cash prizes, compared to $1 million in 2015.
With Ulrich Schulze, VP Pro Gaming at ESL, stating that his company is "working on enabling larger offline crowds to follow the action as players battle in matches that could define the rest of their lives" as a major focus in 2016, this massive prize pool will also be linked to "television broadcasts, a higher standard of online production, a continued emphasis on competitive integrity."
Also covered in the recent press release was the first event of this year, seeing $750,000 being given away across four months of CS:GO action - kicking off on February 9 and with the offline finals in May at an unannounced location.
- >> NEXT STORY: Here's how stop seeing Facebook's 'On This Day' nostalgia generator
- << PREVIOUS STORY: HTC rumored to spin its Vive headset into a new company


text:
Bandai Namco promised improved online play for Tekken 7, as part of what players can expect for the fighting game’s Season 4.
The trailer for Tekken 7‘s Season 4, which says “there’s hope in the darkness” likely in reference to the ongoing COVID-19 pandemic, promises “online play enhancements,” alongside a “better online experience” by showing a potential opponent’s location and disconnection rate before accepting a match. These improvements are coming just in time, as players stay at home to a…
How to get MUTE Protocol packs in Rainbow Six Siege – HITC – Football, Gaming, Movies, TV, Music
Rainbow Six Siege’s MUTE Protocol event is upon us, and with this comes the opportunity to earn MUTE Protocol packs to enhance the gaming experience….
Rainbow Six Siege MUTE Protocol Packs
Rainbow Six Sieges MUTE Protocol event is upon us, and with this comes the opportunity to earn MUTE Protocol packs to enhance the gaming experience.
The MUTE Protocol event runs from August 5 to August 17, and brings a neon-soaked sci-fi aesthetic to the game. A reworking of the classic Secure Area game mode, players will be able to morph at will around the Tower Map.
MUTE Protocol packs will drop special loot, including robotic skins for many of the game…
Samsung Galaxy Unpacked 2020: How to watch today’s unveiling of the Note 20 and what to expect – TechSpot
As is currently standard with major events, this year’s Unpacked will be an online-only affair. Samsung is broadcasting proceedings on the company’s Newsroom and website, and will most likely have a YouTube stream of the event. We will embed the…
Highly anticipated: After months of anticipation, Samsung is finally unveiling the Galaxy Note 20 series today. The company says it will be revealing five new devices at the Unpacked event, which takes place at 10 a.m. ET / 7 a.m. PT / 3 p.m. BST.
As is currently standard with major events, this year’s Unpacked will be an online-only affair. Samsung is broadcasting proceedings on the company’s Newsroom and website, and will most likely have a YouTube stream of the event. We will embed the live…
Podcast Week: Matt & Alex make a million, Trace, Racetrack Ralphy – Mediaweek
Plus Lee Rogers’ Blank Canvas, JMo with Grey’s star & Kochie’s tax guide
Matt and Alex 1m milestone
It was only May when comedy duo Matt Okine and Alex Dyson served up Australias first on-demand breakfast show, Matt & Alex All Day Breakfast, on PodcastOne Australia. Fast forward to August and the duet are already celebrating with a champagne breakfast after notching up an impressive 1 million downloads!
Matt and Alex reckon there is no higher art form than podcasting and feel the need to gift their very own Podcasting Masterclass to the country to mark their ep…
- Politics8 hours ago
Queensland Premier’s border closure is ‘exclusively political’
- General News22 hours ago
Police search for missing person Delisa Nejatian
- Technology News24 hours ago
Xiaomi Mi TV Stick launch highlights: Mi TV Stick launched at Rs 2,799, first sale on 7 August – Firstpost
- Technology News23 hours ago
Overwatch: How to get lifeguard Pharah Summer Games 2020 skin – HITC – Football, Gaming, Movies, TV, Music
- Business News22 hours ago
Business groups fear Victoria’s Covid-19 restrictions will disrupt national supply chains – The Guardian
- Entertainment News23 hours ago
Bachelor in Paradise star Keira McGuire makes romance with Love Island star Matt Zukowski ‘Instagram official’ – PerthNow
- Health News14 hours ago
France to pay home caregivers virus bonus – Australian Associated Press
- General News17 hours ago
Police search for missing Bundoora woman Moira Coulson


text:
Formula 1 is not appealing anymore for Japanese manufacturer Honda, according to the company's new chief executive.
Honda withdrew from Formula 1 at the end of last year citing financial reasons, having underperformed for years.
Under the new ownership, the Brawn team is now leading both championships using a Mercedes engine.
The company's new chief says the sport has become much less attractive for Honda given its technical restrictions, and he admitted there is no interest in a possible return.
"It was a real shame that we had to leave Formula 1," Takanobu Ito was quoted as saying by Reuters during a media briefing in Tokyo.
"On the other hand, F1 is becoming less of a medium in which companies can test their various strengths and more of an event with mounting restrictions.
"There's little room for us to challenge new fields, so bearing in mind the current state of series, I don't think we have the desire to return, even if the economy improves."


text:
China is on pace to hit 1 million in annual electric vehicle sales for the first time, with demand surging so far this year. That acceleration comes as the Beijing government pushes hard to drive up electric car sales while the Trump administration looks to roll back fuel efficiency standards in the U.S.X
China's electric vehicle sales reached 225,310 in the January-to-April period, up 149% vs. the year-ago period. Overall Chinese sales over the period, totaling 9.5 million vehicles, rose roughly 5%.
Sales ramped up as China's government targets 2 million in electric vehicle sales in 2020, pushing incentives and clamping down on traditional cars. China accounted for roughly half of all global EV sales in the first quarter of 2018.
Volkswagen, the top car brand in China so far this year, is targeting 3 million EV sales worldwide by 2025. Other Western automakers such as General Motors (GM), Ford Motor (F), Toyota Motor (TM) and Tesla (TSLA) also have set bold EV targets, foreseeing strong Chinese demand.
Get exclusive IBD analysis and action news daily.
Auto CEOs, Trump
Shares of Volkswagen rose 2 cents to 40.34 on the stock market today, holding just below its the 50-day moving average. GM fell 0.7% and Toyota Motor 0.2%. Tesla gave up 1.3% and Ford Motor dipped 0.2%.
Many chief executives of automakers are set to meet Friday with President Trump on fuel emission standards, as his administration collides with California on the issue. The state is fighting efforts to weaken emission restrictions.
Ford and GM are caught between public support for better fuel efficiency and strong consumer demand for lower-mileage trucks and SUVs, according to one auto analyst. They also want to avoid having multiple fuel standards.
"Companies are always going to push for what's best for their bottom line, and at this point, a compromise with California to maintain a single standard makes the best business sense," Jeremy Acevedo, manager of industry analysis at Edmunds, wrote in a note.
YOU MIGHT BE INTERESTED IN:


text:
One in five 11 year olds have been found to be illegally downloading music from the internet, according to a study for Childnet International.
Kids also did not know that their parents
The study of 1,000 11-16 year olds, found that most children, 73%, are introduced to illegal file-sharing websites by their friends.
More than half (53%) of 11-16 year olds now access the internet unsupervised from their bedrooms, or while out an about on smartphones.
Professor Tanya Byron, child psychologist and author of 2008's Safer Children in a Digital World is supporting internet safety charity, Childnet International, to help parents and teachers talk to teens about safe and responsible internet use.
Byron said: "The majority of parents will confidently tell their children that it is wrong to steal or shoplift in the real world, but it's vital that they also help kids understand what is and isn't acceptable behaviour online, and why it's just as harmful.
Lucinda Fell, Director of Policy and Communications at Childnet International, said: "We know that many parents are concerned about keeping up with what their children are doing online. We know from our work in schools that parents often tell us they are confused about what can and can't be done safely and legally online."
Last week, it was found that 50% of children between 7-12 are using Facebook against the site's usage policy. Children in that report said that pester power forced parents to let their under 13s use the site.
Unlike illegal sites, Facebook actively bars under 13s from their site, but provides a legal and safe forum for listening to music for children older than 13.
Spotify and other new 'social apps' on that site are a legal way to listen to and share music online. Spotify users have increased by 4 million new users since the Facebook integration was announced at F8 on 22nd September.
Parenting blogger Janis Curry from ReallyKidFriendly.com said: "The use of illegal file sharing websites like Pirate Bay is unsuprising - kids have a voracious appetite for new music, and 79p is quite steep when they know the free version is out there somewhere,
"Our generation walked to the local record shop and bought singles and LPs - although some people may have sneaked out with a record under their shirt, most people expected to pay for music.
The best we can do as parents is to help our kids understand that what they're doing is an online version of shoplifting, and hope that their morals prevail... That, and give them a monthly allowance for buying music online through TuneChecker.com."
Research from Ofcom in 2009 found that children as young as five were using the internet without supervision.


text:
Arcam subsidiary AP&C breaks ground on second Quebec plant
October 17, 2016
By Manufacturing AUTOMATION
Oct. 17, 2016 – Arcam AB’s powder manufacturing subsidiary AP&C has begun building its second powder plant in Saint-Eustache, Que.
Specializing in plasma atomized metal powders for additive manufacturing, AP&C says it plans to invest up to $31 million in the new facility. Approximately 106 new jobs will be created, in addition to the 85 people currently employed, within the next three years, says the company.
“This investment makes possible to provide our existing and future clients with superior quality powders to meet the high manufacturing standards of the aerospace and orthopaedic industries,” says Alain Dupont, president of AP&C. “With this new powder production facility and advances in atomization technology, AP&C will significantly increase capacity.”
“The need for high end titanium powder is driven by the fast growth and adoption of additive manufacturing. Arcam is determined to serve the industry through cost efficient solutions thus converting traditional manufacturing into Additive Manufacturing,” adds Magnus René, CEO of Arcam. “A requisite is to offer highest quality powder for production at competitive cost.”
AP&C says it benefited from the “support, advice and financial assistance of Canada Economic Development, Montréal International, Investissement Québec and the Québec Ministry of Economy, Science and Innovation in moving [the] expansion project forward.”
- Two down, one to go: Auto workers accept new contract with Fiat Chrysler
- FEV acquires automation and test product maker TrigTec


text:
Green cleaning workshop at library
A special adult event is being held Tuesday, April 22 from 4 to 4:45 p.m. at the Auglaize County Public District Library.
Andrea Burton, adult services coordinator at the ACPDL has prepared a program called Green Cleaning Workshop & Idea Swap, in which she will present information on how to get started with green cleaning supplies, and participants will have the opportunity to share some of their own tips, ideas and techniques.
Burton explained she came up with the idea for this program through things she has seen online about going green and green cleaning.
“I kind of came up with it just because green and green cleaning are kind of buzz words right now, and a lot of people, I mean if you spend anytime on Pinterest, on the Internet it’s just full of different homemade recipes and how to do things in a more natural way,” she said. “So I just thought that this would be something people would be more interested in learning about. Sometimes people aren’t on the Internet to get those ideas and recipes, so this is a to share them.”
For a complete story, see the Saturday, April 19, 2014, edition of the Wapakoneta Daily News.


text:
In September 2020, the Italian company Lamborghini sold 738 cars worldwide. This is a new record for the company, according to its website.
At the same time, in the third quarter of 2020, 2,083 Lamborghini cars were sold worldwide.
In the spring of this year Lamborghini was forced to close all its plants for two months due to the coronavirus pandemic.
After the resumption of the production, the company was able to reorganize the process and released three new models. It is about Huracan RWD Spyder, Sian Roadster hypercar and Essenza SCV12 track sports car.
By the end of this year, the German airline Lufthansa intends to reduce its foreign staff by 20 thousand people, as well as sell its LSG division, which deals with on-board catering, which employs 7.5 thousand people. Lufthansa subsidiaries Eurowings, Swiss, Austrian and Brussels Airlines are reducing the frequency of flights, fleets and staff amid […]
Automaker Lincoln Motor Company has introduced a new car Lincoln Nautilus. The basic version of the car has a 2-liter turbo engine with a capacity of 250 horsepower. The more powerful version is equipped with a 2.7-liter twin-turbocharged V6 engine with 335 hp. Both models have standard 8-speed automatic transmission. The interior of the car […]
Volvo dropped several cars from a height of 30 meters for crash tests. According to the automaker, such tests are very important for training rescue services. Volvo lifted the cars to a height of 30 meters with a crane, and then smashed them several times. Such a test allowed to simulate damage to cars at […]
Shares of General Motors, down by 3.7% since the beginning of the year, rose by 3.9% in trading after the company announced the results of the 3rd quarter, which ended on September 30. General Motors reported earnings per share increase of 65% to $ 2.83, which was higher than analysts expected $ 1.38. The amount […]
Shares of Peloton, which rose nearly 346% since the beginning of the year, rose 2% during trading on Friday after the company published the results of the first quarter of fiscal 2021, which ended September 30. Peloton, which went public a little over a year ago, reported earnings per share for the second quarter in […]
Shares of Starbucks recovered from losses of February and March due to the pandemic and rose by 19.7% over the past 6 months. But shares fell again after the publication of the quarterly report, which ended September 30. Starbucks revenue and profit for the 4th quarter of fiscal 2020 showed a strong jump in growth […]
American chipmaker Advanced Micro Devices Inc (AMD) is buying rival Xilinx Inc for $ 35 billion under a deal that it will be paid for in full by AMD shares. According to a press release from AMD, the operation will create a company worth about $ 135 billion. “The acquisition of Xilinx will allow AMD […]
In the last week of October, investors expect a lot of news, as more than one-third of the components of the S&P 500 index, or 186 companies, must report financial results for the third quarter. The information field is even richer given the election race in the United States, the situation with the pandemic and […]
A number of investment companies in the world are interested to invest money in the construction of solar power plants in the Chоrnobyl zone. Among them are China, Germany, Austria and others. It is reported by investment portal InVenture. Head of Ministry of Environmental Protection of Ukraine Ostap Semerak stressed the fact that the Ministry […]Next
Many Ukrainian investors and businessmen have a great interest in working abroad. They dream of having their own business, but many of them have a lot of questions about how to start and organize their work abroad? They don’t have sufficient knowledge regarding law and special procedures for the organization of business. For those who […]Next
The Ukranian exchange simplified the access conditions on the market to the new consumers. Oleh Tkachenko, the Chief Executive Officer of Ukrainian exchange said: “NBU made a decision about the exchange derivatives banks deregulation. We provide them with the opportunity to trade the urgent contracts”. The exchange council of exchange platform decided not to levy […]Next
Analytical Internet edition Ars Technica has published an updated list of representatives of IT-business, who will be under the threat of extinction in the new 2017 year. At this time, the list is made up of 7 contenders. Among them are: the social network Twitter, the search engine Yahoo, Messenger Yik Yak, medical startup Theranos, […]Next
Previously unknown to the Ukrainian market Iranian airline company Mahan Air announced the launch of several regular eastbound flights from Kyiv. This reported the “Delo”. According to the publication, in the list are flights to India, China, Malaysia, Thailand and the UAE. Entering the Ukrainian market for the Mahan Air became possible due to the […]Next
Wizz Air will start operating regular flights between Kiev and Abu Dhabi from July 1, 2021. This was announced on Monday, May 10, CTS with reference to the information published by the carrier. It is specified that flights from Ukraine will be carried out from the airport in Borispol. “Flights will be operated three times […]Next
In the second quarter of 2020, China’s economy grew after a historic downturn in the previous three months. This was reported by Interfax with reference to the State Statistical Office of China on Thursday, June 16. Thus, China’s GDP in April-June increased by 3.2% compared to the same period last year. The recovery was caused […]Next
On August 3, Alphabet issued bonds worth $10 billion. This is the largest issue of debt securities in the history of the company, according to the Reuters. With $ 10 billion bond tranche allocated $ 1 billion with a maturity of 5 years and a coupon of 0.45%. The $4.5 billion tranches with maturities of […]Next
Currently, there are almost 2 million entrepreneurs in Ukraine, and each of them pays an average of 13 thousand hryvnias a year. Thereby, in 2019, the turnover of the PIF`s economy amounted to 1 million dollars. “Over the past eight years, revenue from private individuals to the budget have increased by 24 times. In the […]Next
The American corporation The Walt Disney Company has announced the forthcoming closure of the animated studio Blue Sky Studios, which has created a number of world-famous cartoons. Bloomberg announced this on Tuesday, February 9, citing a company statement. “Given the current economic situation, after much deliberation and evaluation, we have made a difficult decision to […]Next
The average salary of one member of the Board of Ukrzaliznytsia in 2020 reached UAH 20.8 million per year, and one member of the Supervisory Board – UAH 4 million, which is twice less than in 2019. This follows from the company’s financial report for 2020. “The leading management is the Board of JSC Ukrzaliznytsia […]Next
Former special representative of the US State Department on Ukraine Kurt Walker on Tuesday, September 1, became an independent member of the Board of Directors of BGS Rail. This was reported by LIGA. Business with reference to the press release. It is noted that Kurt Walker will also work as an advisor to the chairman […]Next
Residents of the United States spent a record $ 9 billion on shopping in online stores on “Black Friday” – a day of big sales, which follows Thanksgiving celebrated on the fourth Thursday in November. This was reported by the Associated Press, citing data from Adobe Analytics, which analyzes information from 80 of the 100 […]Next
In the retail market development in Ukraine and the world retail market there is radical alterity. While the latter is actively developing, Ukrainian began to show some improvements only in 2016. On the prospects of the global sector and the domestic situation shed light Ukrainian company Deloitte, which provides audit areas, tax, consulting and corporate […]Next
The state enterprise SETAM sold the most expensive lot of seized property on the electronic platform OpenMarket – the building of the hotel of the Military-St. Nicholas Monastery in Kyiv. The SETAM press service reported this. It is noted that the final price of the lot is 307.3 million hryvnias, which is 65 million hryvnias […]Next


text:
PAUL SONN FOR BUZZFLASH AT TRUTHOUT
Amazon's announcement that it's raising pay to $15 an hour for its more than 350,000 low-wage employees generated headlines -- and unexpected criticism from the company’s workforce since it simultaneously cut bonuses and stock grants, and compressed its pay scale. The Amazon raise followed similar $15 wage increases by Target and Disney -- and led Sen. Bernie Sanders to call on McDonald's to do the same.
But what many of the mainstream media headlines missed was the real story of how Amazon and other companies got here: it's been the voices of workers both at Amazon and in the Fight for $15 that have led the tech and retailing giant to this point. And how Amazon responds next to a rising chorus of demands from its workforce will determine whether it breaks through as a leader in delivering good jobs.
The idea that US workers needs at least $15 an hour didn't come from an HR expert or an economist. It was the demand of the brave fast-food workers of the Fight for $15 who explained to the nation that it was the minimum they needed in order to have a shot at dignity and a decent life.
When they walked off their jobs in 2012 and launched a movement, their demands were widely dismissed as fanciful. But their strikes quickly spread across the country, and they were soon joined by workers in retail and at airports, hospitals and caregiving, car washes and property services, all raising their voices for much higher pay and the right to unionize.
For years, policy makers and elected leaders lagged far behind, continuing to talk about $9, or $10 or $12 minimum wages. But the workers began to make headway. Starting with Seattle and cities up and down the West Coast, they fought for and began to win actual $15 minimum wages. A few short years later, $15 minimum wages are now being phased in for more than one-fifth of the US workforce, in states including California, New York and Massachusetts, and localities from Washington, DC; to Minneapolis, Minnesota; to Flagstaff, Arizona.
Recently, airport workers in New York and New Jersey won the highest minimum wage in the nation: $19 an hour by 2023. After November, more states are likely to follow. And if control of either house of Congress shifts, a $15 minimum wage is likely to be an early priority for new leadership.
This dramatic shift in national momentum behind raising pay has been powered by workers. It's been campaigns by low-paid retail workers, resort workers and contracted janitors, cafeteria workers and bus drivers that are pushing major companies like Target, Disney, Facebook and Google to raise pay and support union drives.
Eventually, the experts caught up with the workers. Cost of living data show that $15 an hour is, in fact, the minimum that a single worker in all 50 states will soon need to cover the basics -- and that workers with families and in higher-cost states in fact need even more. And the research is confirming that -- as with the vast majority of past research on the minimum wage -- the new higher minimum wages are raising pay without costing a lot of jobs.
Which brings us to Amazon. The nation's tech and retailing behemoth has come under increasing fire for how it treats its workforce. Part of it has been about low pay and the fact that many of its workers earn so little they need food stamps to get by. But exposés have also documented the harsh health, safety and working conditions in Amazon's warehouses and faced by its contracted delivery workers. As a result, warehouse workers and truckers serving Amazon joined in a historic strike this month in Southern California. Whole Foods workers have complained about worsening job conditions after Amazon acquired the chain. The company employs legions of online workers at subminimum wages through its controversialMechanical Turk "gig jobs" platform. And beyond jobs, its sweeping, harmful impact on state and local budgets, communities, small businesses and competitive markets as it commands an ever-growing market share and dominates new industries is a source of mounting concern across the political spectrum.
The worker voices challenging Amazon to deliver value and quality jobs for its workforce are the force behind the company's wage boost. While the $15 minimum wage announcement is a significant step forward, it will be even more important to see what Amazon does next.
If Amazon really wants to lead on workplace standards, as CEO Jeff Bezos says, the company needs to tackle the health and safety impacts of its fast-paced production demands and on-demand scheduling; guarantee basic benefits like health care and paid sick leave to all its workforce; and ensure that it extends these same humane standards to its vast contracted workforce of temp and staffing workers, and contracted delivery workers. And where its workers raise their voices to join together in a union to work for better jobs, it needs to respect that choice.
Amazon has disrupted and transformed retailing, tech and myriad other segments of our economy. How it brings that creative energy to improving the wellbeing of its entire workforce -- from its contracted staffing and security workers, to its online and warehouse workers, to its truckers and delivery people -- will now be one of its greatest challenges.
Paul Sonn is state policy program director at the National Employment Law Project.


text:
|Apple And GE Bring Predix to iPad and iPhone
|Written by Kay Ewbank
|Thursday, 19 October 2017
Apple and GE are making Predix available for iPad and iPhone via a new SDK for iOS, meaning developers have the tools to create Industrial Internet of Things apps on the Apple platform.
Predix is the cloud-based software development tool that is central to GE’s move to become a “digital industrial” company. As we've reported before, Predix is used to monitor and analyze the data from industrial machines such as wind turbines and jet engines, taking the massive amounts of data from the machines' sensors and making it available for analysis, so helping predict failures and making the machines run more cost effectively.
The new Predix SDK for iOS can be used to create native apps that combine the industrial analytics of Predix with advantages of running on iOS. The apps created using the new SDK will give industrial operators the ability to monitor and analyse the performance of their equipment and operations from their iPhone or iPad. A typical use might be a Predix app that could notify a worker on their iPhone of a potential issue with equipment such as a wind turbine, then be used to collaborate with remote teams when performing inspections and repairs, collecting relevant data instantly. The new SDK will be available to download on Thursday, October 26.
GE is also collaborating with Apple on the development of apps for both internal use and its customers, giving workers tools to enhance their jobs and help operations run more efficiently. GE’s Asset Performance Management (APM) Cases app, which is available in the App Store, helps industrial businesses increase machine reliability and availability while reducing maintenance costs and managing operations risks.
GE will standardize on iPhone and iPad for mobile devices and also promote Mac as a choice for its global workforce of more than 330,000 employees. Apple will promote GE’s Predix as the industrial IoT analytics platform of choice to its customers and developers. GE expects the partnership to result in its digital arm making $12 billion in revenue by 2020.
or email your comment to: email@example.com
|Last Updated ( Thursday, 19 October 2017 )


text:
The CEO of Dutch dairy giant FrieslandCampina, Roelof Joosten, has held talks with Pakistan’s Prime Minister Nawaz Sharif about “possible opportunities” to jointly develop the country’s dairy industry.
FrieslandCampina said the Islamabad meeting, which followed the group’s acquisition of a majority stake in Pakistan’s second-biggest dairy company, Engro Foods, “highlighted the need to explore partnership opportunities with the government to bring the local dairy industry on a par with international standards and contribute to Pakistan’s dairy sector development”.
Engro Corporation chairman Hussain Dawood also took part in the talks to “jointly discuss possible opportunities to develop the dairy industry in the country through knowledge transfer and provision of nutritious value-added products amongst others”, FrieslandCampina said.
However, Joosten said the development of the dairy sector depended on also having “clear standards and clear legislation”. He added: “It is also important to maintain a healthy balance between locally sourced and imported dairy, otherwise it will be nearly impossible to meet the demands of the Pakistan population. To be honest, we cannot do all this without the support of the government and related authorities.”
Sharif said FrieslandCampina’s involvement in the country would be “instrumental in positioning Pakistan as an attractive investment destination for global companies and encourage others to follow”.
He said: “I am hopeful that this partnership will allow the Pakistani population to enjoy a wider array of affordable, high-quality dairy products for a healthier Pakistan. Improving the well-being of millions of our farmers is a cause that Pakistan has been focused on since its inception. I am convinced that this partnership will create tremendous long-term value for our dairy farmers.”
Meanwhile, the World Bank’s International Finance Corporation (IFC) announced it was providing a US$145m “financing package” to FrieslandCampina to “spur the development of Pakistan’s crucial dairy industry”.
The package includes equity investments of $45m and a senior loan of $100m, the IFC said. Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden, the Dutch development bank, is also providing up to $45m to support the acquisition.
The IFC said the funding would help FrieslandCampina “share its global experience and international best practices with the small-hold farmers who supply Engro Foods and most dairy processors in Pakistan, helping them to boost productivity and cut down on waste”.
According to the IFC, more than 200,000 farmers and 270,000 distributors are expected to benefit from the acquisition of Engro Foods, which will also create more than 1,000 new jobs in the dairy supply chain.
“Pakistan is the third-largest milk consumer in the world and its dairy industry produces 38 billion litres of milk annually,” the IFC said. “The acquisition will help improve food safety standards as supply chains improve productivity.”
In December, FrieslandCampina named its vice president of M&A, Hans Laarakker, as interim CEO of Engro Foods. A spokesperson said Laarakker would continue to hold the post of vice-president of M&A and business development at FrieslandCampina and that “another CEO will be appointed at some point, but we don’t know when that will be.” The spokesperson declined to say if Laarakker himself might be a candidate for the position on a permanent basis.


text:
DHAKA: Speakers put emphasis on the vast use of energy efficient technologies like Solar PV and LED Lighting in the industrial sector to help country reach the strategic target of $50 billion in RMG export by 2021.
They came up with the urge at a workshop, titled ‘Solar PV & LED Lighting’, on Wednesday (May 4) in city.
Textile Technology Business Center (TTBC) organized the workshop in association with Cleaner Textile (PaCT) program of International Finance Corporation, World Bank Group.
The addressed issues included developing a strong business case for Solar PV and LED Lighting as ‘Green Lighting Options’, and showcasing the opportunities for Solar PV plus LED Lighting in the textile and garment sector.
The main objective was to bring together key decision makers from the textile and garment sectors, technology suppliers, and financial institutions to exhibit energy efficiency products and services, highlight savings in energy consumption, green financing to engage business-to-business interactions among key stakeholders of the textile sector.
LED lighting and rooftop solar PV enable textile factories to incur lower energy cost while maintaining longer lifespan of the equipment.
In addition, the renewable energy generation technologies reduce the reliance on the local power grid and decrease greenhouse gas emission.
Moreover, LED lighting has the capacity to improve employee health and productivity.
‘With the rising cost of energy, the growth trajectory of Bangladesh textile industry can only be sustained by investing in smart technologies like Solar PV and LED Lighting in factories and nearby communities,’ said Wendy Werner, IFC Bangladesh Country Manager.
‘IFC Bangladesh is committed to the development goals of the industry and will extend support through capacity and business development through the PaCT program.’
At the event, IDLC Finance Ltd., a PaCT partner, signed the formal engagement letter with IFC to promote financial products that will facilitate greater adoption of resource efficiency technology across the textile sector.
The President of the BGMEA, Md. Siddiqur Rahman, Senior Vice President, BGMEA, Faruque Hassan and speakers from GE, Deloitte, IDLC, SREDA and other industry experts spoke during the event.
BDST: 1658 HRS, MAY 04, 2016


text:
The number of empty shops in town centres is at its highest for four years, industry figures show.
The vacancy rate was 10.3% in July, its highest level since January 2015, according to the British Retail Consortium and Springboard survey.
Footfall also fell by 1.9% in July, the worst July performance for seven years.
Diane Wehrle, Springboard insights director, said July had been “much more challenging” for shopping centres and High Streets than out of town stores.
The survey showed that High Street footfall declined by 2.7% in July, and shopping centre footfall declined by 3.1%.
In contrast, footfall in retail parks increased by 1.2%.
Ms Wehrle added: “Consumer demand is ever-more polarised between convenience and experience, and the stronger performance of out of town destinations where footfall rose by 1.2% in July reflects the fact that retail parks are successfully bridging the convenience-experience gap.
“They not only offer consumers accessible shopping environments with free parking and easy click and collect opportunities for online purchases, but many also combine this with an enhanced experience that includes coffee shops and casual dining restaurants, and some also have leisure facilities.”


text:
Amanda Evans Joins WebMama.com TeamI am thrilled to say that Amanda Evans has joined the WebMama.com team. For years and years (starting in 1999) I have wanted to work for Amanda when she was heading up search marketing for HP Shopping. And now Amanda will work for me and take her years of experience to WebMama clients. Quite the full circle. She will be a senior consultant for some existing clients - Verisign and Teleflora - and looking for another challenge like Wes has with Vonage.
Amanda's Bio: Prior to joining Webmama.com, Amanda Evans spent 7 years with Hewlett Packard Company developing and managing the company's search engine marketing strategy and campaigns. She was also responsible for loyalty marketing and interactive advertising for hpshopping.com, HP's consumer e-commerce division. In addition to her time at HP, Amanda has also held online marketing positions at internet startup, Zazzle.com and PC manufacturer Acer.
Amanda holds an M.B.A from San Jose State University and a B.S.C. from Santa Clara University


text:
On Air Now
Heart Breakfast with Jamie Theakston and Amanda Holden 6:30am - 10am
An ad campaign for L'Oreal shampoo - where Cheryl Cole claims her hair feels stronger and full of life - has been cleared by the advertising watchdog.
They'd been complaints because she was wearing extensions.
Cole's hair was styled by her personal hairdresser for the campaign, as was her usual practice.
The Advertising watchdog noted that the consumer testing appeared to demonstrate that the results were achievable by consumers who did not wear hair extensions.


text:
BBM Coming to Nokia Lumia Phones
Nokia today announced plans to bring BlackBerry's BBM messaging app to its Lumia devices.
Jan 5, 2022
HMD Global is teasing its lineup of Nokia phones for the US for first half of 2022. The five new phones will bring the company's presence to two new US carriers, representing "its largest U.S.
Dec 31, 2021
Old BlackBerry devices running BlackBerry OS (10, 7.1, and earlier) will "no longer reliably function" after January 4th. 2022.
Jan 25, 2021
Beeper is a new $10/month app and service that unifies over a dozen different messaging services into one unified, searchable chat interface. It supports iMessage, Whatsapp, Facebook Messenger, Android Messages (SMS), Telegram, Twitter, Slack, Instagram, Skype, Discord, Signal, and more.
Feb 3, 2020
TCL Communication and BlackBerry Limited have announced an end to their partnership to produce BlackBerry phones. TCL made several BlackBerry phones in recent years, which ran Android with additional software from BlackBerry Limited.


text:
Everywhere in the world!
Koei Tecmo General Producer Kou Shibusawa made an appearance at Sony’s TGS conference today, and revealed the release date for Nioh, their upcoming action RPG. While fans may be a little disappointed to know that the game won’t be coming out this year after all, like some had predicted, it is nice to know that the game will be enjoying a simultaneous worldwide launch in 2017.
There wasn’t any gameplay footage shown at the conference, but Shibusawa also spoke a bit about how the development team over at Team Ninja has worked hard on the game, and how they were glad to finally be able to announce a release date.
Nioh will be released for the PS4 on February 9 everywhere in the world.


text:
The official launch of the new McDonald’s Crispy Chicken Sandwich is nearly here!
Launching Wednesday, February 24, the sandwich features a brand new crispy, juicy, tender fillet made with all-white meat chicken that’s sure to capture the hearts and taste buds of chicken enthusiasts across America when it debuts. They’re serving it up three ways – Crispy, Spicy and Deluxe:
- Crispy Chicken Sandwich: For those who want to keep things simple – topped with a crinkle cut pickles and served on a new toasted, buttered potato roll.
- Spicy Chicken Sandwich: For those craving some heat – served with a Spicy Pepper Sauce and crinkle cut pickles on a toasted potato roll.
- Deluxe Chicken Sandwich: For those looking for a little extra somethin’ in the toppings department– served with shredded lettuce, Roma tomatoes and mayo.
But that’s not all. All McDonald’s restaurants across Toledo area are offering a free trial of the sandwich!
On Thursday, Feb. 25 starting at 5pm, McDonald’s is offering the first 100 cars in the Drive-Thru a FREE new Crispy Chicken Sandwich, no purchase necessary! Valid at participating restaurants in the Toledo area, one sandwich per car, available while supplies last.


text:
ATLANTA, May 25, 2016— The Brick has been awarded the 2016/2017 “100 Plates Locals Love” distinction by Georgia Department of Economic Development’s Tourism division (GDEcD). Georgia Tourism’s second annual list of “100 Plates Locals Love” is featured in the state’s culinary guide, Georgia Eats.
“Georgia’s cities, towns and backroads are filled with authentic restaurants and culinary specialties that visitors love to experience when they travel,” said Kevin Langston, deputy commissioner for tourism at the Georgia Department of Economic Development. “The list of ‘100 Plates Locals Love’ is our way of providing visitors and locals with suggestions, the same way we would recommend restaurants to our family and friends.”
The Georgia Department of Economic Development’s Tourism Division highlights the state’s culinary greatness in the official guide, Georgia Eats. Following the success of the culinary guide in 2015, the Tourism Division decided to recreate this informative and inspiring guide that entices visitors to sample the state’s world-class cuisine. As a part of the “100 Plates Locals Love” designation, each restaurant is featured in the Georgia Eats culinary guide, which is distributed via the 12 Visitor Information Centers statewide; on the state’s consumer tourism website ExploreGeorgia.org; and on Explore Georgia’s social media channels.
“Doing our best since 1993!” Frank Pendergast may not know a whole lot about fancy book learning or keep with the Kardishihooligans, but he does know food and hospitality. It is The Brick's constant goal to keep their customers bellies full and their hearts happy by providing the best food possible, as well as the most vibrant and amiable staff around. The Brick has been a Milledgeville staple serving up Brick Oven Pizza, Pasta, Calzones, Salads, Sandwiches, Wings, Nachos and More! And the tomato soup is always a crowd pleaser. It's creaminess and chunks of tomatoes makes it stand out from the crowd. Just one of our favorite downtown Milledgeville establishments.
Georgia’s culinary initiative focuses on showcasing the state’s authentic experiences that revolve around food. The state launched a new culinary landing page that features our culinary blogger, the Georgia Flavors videos, flavor tours and more. The second-annual Georgia Restaurant Week will take place July 18-24, 2016 at participating restaurants throughout Georgia. The event will showcase Georgia’s restaurants to consumers and attract new visitors by showcasing the state’s many culinary tourism assets. During this week-long event, patrons, both local and from out of state, will be able to explore the numerous dining options throughout Georgia for a special price and sample locally grown products that are available in Georgia’s restaurants.
The dishes were selected from nearly 600 nominations that were submitted on ExploreGeorgia.org in November 2015 and evaluated by a panel of judges, who selected the final list of “100 Plates Locals Love.”
The Georgia Department of Economic Development (GDEcD) plans, manages and mobilizes state resources to attract new business investment to Georgia, drive the expansion of existing industry and small business, locate new markets for Georgia products, inspire tourists to visit Georgia and promote the state as a top destination for arts events and film, music and digital entertainment projects.
Georgia Department of Economic Development
404.962.4078 or 404.640.3195