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Demeter

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Gender: Female
Hometown: Ann Arbor, Michigan
Home country: USA
Member since: Thu Sep 25, 2003, 02:04 PM
Number of posts: 78,081

Journal Archives

America’s Angriest Store: How Whole Foods Attracts Complete Shitheads.

ACTUALLY, THE ISSUE OF HOW THEY DO IT NEVER ARISES...BUT IT IS AN ENTERTAINING STORY.

I'VE ENDURED THE COMPANY OF THE THE ALL-TOO-PRECIOUS AND THEIR DELICATE DIGESTIONS AND HIGH PRINCIPLES...SO I HEARTILY RECOMMEND THIS TO YOU AS STRESS RELIEF.

https://medium.com/culture-club/americas-angriest-store-d778c31aa9be

Volkswagen’s New 300 MPG Car Not Allowed In America Because It Is Too Efficient

http://thespiritscience.net/2014/05/25/volkswagens-new-300-mpg-car-not-allowed-in-america-because-it-is-too-efficient/

This 300 MPG Volkswagen XL1 has not made an appearance in any American showroom. In fact it has even been denied a tour of America because it is too efficient for the American public to be made widely aware of, and oil profits are too high in America with the status quo in place. Not to mention the millions that would lose jobs if something like this went mainstream. No tour has been allowed for this car because the myth that 50 mpg is virtually impossible to obtain from even a stripped down econobox is too profitable to let go of, and when it comes to corporate oil profits, ignorance is bliss. This is a perfect example of a technology being suppressed in the name of profit.

Years ago I had calculated that it should be possible to get a small car to exceed 100 mpg by putting parallel direct to cylinder water injectors side by side with the fuel injectors, and using the exhaust manifold to preheat the water so it would enter the cylinders as dry steam, thus providing added expansion (which drives the engine) while allowing the combustion process to proceed without reducing it’s efficiency. But I was obviously wrong with my calculations, because they were in fact over 2x conservative.

The 100 mpg carburetor was indeed a reality, and the Volkswagen XL1 proves it with only straightforward nothing special technology we have had since the 1970s. Though the XL1 can be plugged in to deliver a 40 mile all electric drive, it does not need to be plugged in EVER to achieve 300 mpg. And it does not cheat in any way to achieve the rating, it weighs over 1,700 pounds, has normal tires, and delivers a very good driving experience with a governed top speed of 99 mph. The XL1 could reach a top speed in excess of 110 mph absent governor and turns in a 0-60 time of 11.5 seconds which is by no means leisurly for a car designed for efficiency. The XL1 in no way cheats on performance to hit it’s rating. It is simply the car we should have always had, and have had taken from us in the name of oil profits.

Though the XL1 can hit 300 mpg under ideal driving conditions, it’s combined mileage is usually a little over 200 mpg, and if you do city driving only that will drop to a minimum of 180 mpg under the worst driving conditions. But even still, that’s about 5 times more efficient than an average car. That means you’re spending 5 times less on fuel.





FACT, OR FICTION?

IMF sees 140m jobs shortage in ageing China as 'Lewis Point' hits FEB 2013By Ambrose Evans-Pritchard

http://www.telegraph.co.uk/finance/comment/9845959/IMF-sees-140m-jobs-shortage-in-ageing-China-as-Lewis-Point-hits.html

We can now discern more or less when the catch-up growth miracle will sputter out. Another seven years or so (2020) - enough to bouy global coal, crude, and copper prices for a while - but then it will all be over. China’s demographic dividend will be exhausted. Beijing revealed last week that the country’s working age population has already begun to shrink, sooner than expected. It will soon go into “precipitous decline”, according to the International Monetary Fund.

Japan hit this inflexion point fourteen years ago, but by then it was already rich, with $3 trillion of net savings overseas. China has hit the wall a quarter century earlier in its development path. The ageing crisis is well-known. It is already six years since a Chinese demographer shocked Davos with a warning that his country might have to resort to mass suicide in the end, shoving pensioners onto the ice. Less known is the parallel - and linked - labour drain in the countryside. A new IMF paper - “Chronicle of a Decline Foretold: Has China Reached the Lewis Turning Point?” - says the reserve army of peasants looking for work peaked in 2010 at around 150 million. The numbers are now collapsing. The surplus will disappear soon after 2020. A decade after that China will face a labour shortage of almost 140m workers, surely the greatest jobs crunch ever seen. “This will have far-reaching implications for both China and the rest of the world,” said the IMF.


Source: IMF

These farm workers are the footloose migrants that pour into the cities from the interior, the raw material of China’s manufacturing workshops They are carefully regulated by the semi-feudal Hukuo system to keep their families tied to villages at home, and to keep the lid on social revolt. There is little Beijing can do to head off the shock. The effects of low fertility rates - and the one child policy - are already baked into the pie. It would take half a century to turn around the demographic supertanker.

The Lewis Point, named after St Lucia's Nobel economist Sir Arthur Lewis, is when the supply of workers dries up and city wages soar. It is when labour turns the tables on capital, and profits crash.

You could argue that such a process already well under way, and is why Chinese equities are trading at a third of their 2007 peak in real terms. Manufacturing pay has risen 16pc a year over the last decade in the East Coast hubs of Shenzhen, Beijing, Shanghai and Tianjin, though this slowed sharply in 2012. Boston Consulting Group says that “productivity-adjusted wages” were just 22pc of US levels as recently as 2005. They will reach 43pc by 2015, or 61pc for the American South. It is a key reason why General Electric, Ford, Caterpillar and others are “re-shoring” from China back to the US, though cheap shale gas, a weaker dollar, and shipping costs all play their part.

This is no bad thing. The world economy is rebalancing. China’s current account surplus has fallen from 10pc of GDP to just 2.5pc.

China’s corrosive gap between rich and poor should narrow. The GINI coefficient measuring inequality should come down from stratospheric levels, 0.61 according to researchers at Chengdu University. Yet it is also a dangerous moment for Beijing. The Lewis Point is the great test for catch-up economies, when they can no longer rely on cheap labour, copied technology, and export-led growth to keep the game going. The air is thinner at the technology frontier. Success depends on such intangibles as the rule of law and the free flow of ideas. Those that fail to adapt in time slide into the `middle income trap’, and most do fail.

The Soviet Union failed. The Philippines -- richer than Korea in the 1950 -- failed. Most of the Mid-East failed. So did most of Latin America in the 1960s and 1970s, and it is far from clear that Argentina and Brazil will break free this time.


AND THE US, AMBROSE? WHAT ABOUT THE US FAILURE?

I PREFER TO THINK OF IT AS "PAUSES" AS READJUSTMENTS ARE MADE BETWEEN GENERATIONS AND CLASSES AND THE FEUDALISM/DEMOCRACY DRAMA PLAYS OUT.

2020--THAT'S WHEN THE BOOMERS (THE PIG IN THE PYTHON) PASS OUT OF THE US LABOR FORCE, TOO.

HMMMM.....

Why has US Oil Consumption Steadily Fallen since 2004? FROM FEB 2013 By Gail Tverberg

AND WE FINALLY SEE THE PRICE CRASH--ONLY TOOK 10 YEARS!

http://oilprice.com/Energy/Crude-Oil/Why-has-US-Oil-Consumption-Steadily-Fallen-since-2004.html



United States oil consumption in 2012 will be about 4.7 million barrels a day, or 20% lower than it would have been, if the pre-2005 trend in oil consumption growth of 1.5% per year had continued. This drop in consumption is no doubt related to a rise in oil prices starting about 2004. Oil prices started rising rapidly in the 2004-2005 period (Figure 2, below). They reached a peak in 2008, then dipped in 2009. They are now again at a very high level.



Given the timing of the drop off in oil consumption, we would expect that most of the drop off would be the result of “demand destruction” as the result of high oil prices. In this post, we will see more specifically where this decline in consumption occurred. A small part of the decline in oil consumption comes from improved gasoline mileage. My analysis indicates that about 7% of the reduction in oil use was due to better automobile mileage. The amount of savings related to improved gasoline mileage between 2004 and 2012 brought gasoline consumption down by about 347,000 barrels a day. The annual savings due to mileage improvements would be about one-eighth of this, or 43,000 barrels a day.

Apart from improved gasoline mileage, the vast majority of the savings seem to come from (1) continued shrinkage of US industrial activity, (2) a reduction in vehicle miles traveled, and (3) recessionary influences (likely related to high oil prices) on businesses, leading to job layoffs and less fuel use.

Gasoline Savings from Better MPG, Fewer Miles Traveled



... Under “normal” circumstances, we would expect gasoline consumption to continue to rise, along with oil products in general, as shown in Figure 1 at the top of the post...The amount of gasoline consumed reflects at least two different influences (1) the number of miles traveled, and (2) savings due to more fuel efficient cars. Based on data compiled by the US Department of Transportation, vehicle miles traveled (VMT) were rising by 2.2% per year prior to 2004, then suddenly flattened (Figure 4, below) about the time oil prices started to rise significantly.







...If we apply the 2004 rate of fuel usage (or MPG) to 2012 VMT, we find that the improvement in fuel mileage between 2004 and 2012 reduced fuel usage by 347 thousand barrels a day over the eight year period, which is equivalent to a reduction of about 43 thousand barrels a day, per year. The total reduction in gasoline use between 2004 and 2012, relative to what would have been expected, (based on the trend line in Figure 1, assuming the mix of products each retain their 2004 proportions) is about 1.49 million barrels a day. Thus, this calculation implies that about 23% of gasoline savings is from better mileage; the other 77% is from driving fewer miles.

One point of interest is the fact that US population has recently been growing by 1% per year. Because of the growing population, a person would expect VMT to grow by at least 1% per year, unless per capita miles driven is shrinking. Since 2004, vehicle miles traveled have been growing less rapidly than population growth. As a result, mileage per person has been shrinking, recently by a little over 1% per year. Prior to 2004, vehicle miles traveled were growing at 2.2% a year while population was growing at 1.1% per year, implying that per capita miles traveled were increasing by 1.1% per year. How do vehicle miles per person go from increasing to decreasing? There are a couple of possible ways. One is by a reduction in the number of drivers; the other is by decreasing the number of miles driven for individual drivers. My friends who are automobile insurance actuaries tell me that at least part of the change recently is that fewer young people are driving. This is not too surprising–young people today have very high unemployment rates, so they are less able to afford the cost of a car.

Fuel Savings for Distillate and for Other Oil Products



At least part of the reason the “All Other” portion is shrinking is the fact that the All Other category includes quite a bit of oil products for industrial use, and the amount oil products used by the industrial sector shrank by 7.9%, comparing 2011 to 1994. We can also look at the use of other energy products by sector, to see additional evidence that the Industrial Sector is shrinking, or at least, not growing nearly as much as the other sectors are growing. For example, if we look at electricity use by sector, residential use is up by 41% since 1994, commercial use (office and stores) is up by 44% since 1994, while industrial use is down by 3%.



Also, between 1994 and 2011, use of natural gas by the industrial sector declined by 8.5% further suggesting that it is the industrial sector that is shrinking. One factor in this shrinkage is likely increased competition from China, once they joined the World Trade Organization in December 2001. Of course, part of the reason for the lower growth in oil products use by All Other could be greater industrial efficiency...Another point of interest is the fact that the trend in gasoline and in distillate consumption both roughly follow the trend in the number of jobs available in the US economy.



There is a theoretical reason why gasoline consumption might rise and fall with employment. People who have jobs can afford to buy cars and drive them. People who don’t, often can’t afford to drive...

Summary of Where Oil Savings Comes From

As stated at the beginning of the post, United States oil consumption is about 4.7 million barrels a day lower in 2012 than would have been expected based on pre-2005 patterns. The way that this savings breaks out by product grouping is as follows:



Decreased gasoline usage due to improved gasoline mileage amounts to 7% of the total, decreased gasoline usage because of fewer miles traveled amounts to 25% of the total, and a decrease in distillate use amounts to 17% of the savings. The majority of the decrease, 51%, comes from a decrease in the “All Other” category, which is most closely related to a decrease in industrialization.


MORE DETAIL AT LINK

Weekend Economists Hail to the King January 9-11, 2015



Elvis Aaron Presley (January 8, 1935 – August 16, 1977) was an American singer and actor. Regarded as one of the most significant cultural icons of the 20th century, he is often referred to as "the King of Rock and Roll", or simply, "the King".

Born in Tupelo, Mississippi, when Presley was 13 years old he and his family relocated to Memphis, Tennessee. His music career began there in 1954, when he recorded a song with producer Sam Phillips at Sun Records. Accompanied by guitarist Scotty Moore and bassist Bill Black, Presley was an early popularizer of rockabilly, an uptempo, backbeat-driven fusion of country music and rhythm and blues. RCA Victor acquired his contract in a deal arranged by Colonel Tom Parker, who managed the singer for more than two decades. Presley's first RCA single, "Heartbreak Hotel", was released in January 1956 and became a number-one hit in the United States. He was regarded as the leading figure of rock and roll after a series of successful network television appearances and chart-topping records. His energized interpretations of songs and sexually provocative performance style, combined with a singularly potent mix of influences across color lines that coincided with the dawn of the Civil Rights Movement, made him enormously popular—and controversial.

In November 1956, he made his film debut in Love Me Tender. In 1958, he was drafted into military service: He resumed his recording career two years later, producing some of his most commercially successful work before devoting much of the 1960s to making Hollywood movies and their accompanying soundtrack albums, most of which were critically derided. In 1968, following a seven-year break from live performances, he returned to the stage in the acclaimed televised comeback special Elvis, which led to an extended Las Vegas concert residency and a string of highly profitable tours. In 1973, Presley was featured in the first globally broadcast concert via satellite, Aloha from Hawaii. Several years of prescription drug abuse severely damaged his health, and he died in 1977 at the age of 42.

Presley is one of the most celebrated and influential musicians of the 20th century. Commercially successful in many genres, including pop, blues and gospel, he is the best-selling solo artist in the history of recorded music, with estimated album sales of around 600 million units worldwide. He was nominated for 14 competitive Grammys and won three, also receiving the Grammy Lifetime Achievement Award at age 36, and has been inducted into multiple music halls of fame.

https://en.wikipedia.org/wiki/Elvis_Presley


IN MEMORY ON THE 80TH ANNIVERSARY OF HIS BIRTH, WEE DEDICATES THIS WEEKEND TO REMEMBERING AND CELEBRATING ELVIS PRESLEY.



Great Lakes Ice Coverage Update

Last year (winter 2013-2014) the Great Lakes were 92% frozen over...the greatest coverage since 1979...normal coverage is 33%...

Icebreaking operations begin on Great Lakes

Ice cover steadily expands on Great Lakes, with 14.2% coverage, up from 5.65% coverage on Jan. 1

Speaker of the House Election January 6: Procedure


The Election of the Speaker: The Procedural Facts

Constitutional Requirement. Article I, Section 2 of the US Constitution states that, “The House of Representatives shall chuse their Speaker and other Officers.”


Timing.

By law (2 USC Sec. 25), the Speaker must be sworn prior to any other business. As a result, the election takes place at the start of each new Congress, as soon as a quorum has been established. For the upcoming 114th Congress, it is scheduled to occur on Tuesday, January 6, 2015.

Process.


The Clerk of the House accepts nominations from the floor. A member of each Leadership—the respective conference and caucus chairmen—nominates one candidate from each party.

Reps. John Boehner (R-OH) and Nancy Pelosi (D-CA) will receive these party nominations in the 114th Congress. The Clerk then asks the rest of the House whether there are any further nominations. Once the slate of nominees is set, the Clerk begins the roll call vote which proceeds in alphabetic order by surname. When called upon, members respond orally with their vote (viva voce).

Required Vote Threshold.

According to the precedents of the House, an absolute majority of “the total number of votes cast for a person by name” is required to elect a Speaker.

Abstentions, “present” votes, and of course, missed votes are not counted towards the total number of votes cast for a person.

For example, voting present lowers the total number of votes needed for a nominee to achieve a majority. If the full House is sworn in and voting, a majority of the full membership is 218. (Rep. Michael Grimm (R-NY) will not be sworn in for the 114th Congress as a result of his resignation, but a majority of the full members is still 218.)

Again, a plurality is not sufficient to be chosen Speaker. If a majority is not obtained on the first ballot, there are subsequent ballots until a winner receives enough votes.

No Voting Restrictions.

There are no restrictions for whom Members may vote. They do not have to vote for the nominees or even a Member of the House of Representatives (the Constitution does not require the Speaker to be a Member, although it always has).

For instance, in 2013, Rep. Boehner received 220 votes, Rep. Pelosi received 192 votes, while Reps. Justin Amash (R-MI), Eric Cantor (R-VA), Jim Cooper (D-TN), John Dingell (D-MI), Jim Jordan (R-OH), Raul Labrador (R-ID), Rep. John Lewis (D-GA), and non-Members Colin Powell, David Walker, and former Rep. Allen West all received votes.

Potential Impact of Democrats.

Since they comprise the Majority party, as long as Republicans vote for some candidate by name (i.e., not missing the vote or voting present), the Democrat nominee cannot be elected without GOP votes simply because there are multiple candidates receiving votes.

And in the unlikely event that a large group of Republicans missed the vote or voted present, the result would be quickly reversed by the full Republican Majority by vacating the Speaker chair and starting anew. There is no way that Rep. Pelosi will be the Speaker in the 114th Congress without Republican votes.

Potential Impact of Republican Dissenters.


A sufficiently large block of Republicans—29 Members with the current political composition of the House (246 GOP-188 Democrats)—can prevent their party’s nominee from achieving the necessary majority to be elected Speaker.

For instance, in 1923, the progressive wing of the Republican Party blocked a Republican from being Speaker until some of their procedural demands were adopted. This occurred over three days and nine different ballots. Similarly the House has seen lengthier delays in electing the Speaker. In 1849, the House required over 59 ballots and 19 days to elect a Speaker. In 1856, more than 129 ballots were required.



WHO SENT ME THIS INFORMATION? MY FUNDIE-RELIGIOUS-WHACKO TEA PARTY AUNT.

HAVE YOU EVER HAD SUCH INFORMATION FROM THE DEMOCRATIC PARTY? WHY NOT?

THINK ABOUT IT. WE HAVE TO DO BETTER. FOLLOWING THE TEA PARTY'S LEAD IN MASTERING THE LEVERS OF POWER WOULD BE A GOOD PLACE TO START.

THE SECOND STEP WOULD BE FORMING STRATEGIC ALLIANCES WITH THE TEA PARTY ON ISSUES WE BOTH SUPPORT: SOCIAL SECURITY, MEDICARE, ETC.

Speaker of the House Election January 6: Procedure

The Election of the Speaker: The Procedural Facts

Constitutional Requirement. Article I, Section 2 of the US Constitution states that, “The House of Representatives shall chuse their Speaker and other Officers.”


Timing.

By law (2 USC Sec. 25), the Speaker must be sworn prior to any other business. As a result, the election takes place at the start of each new Congress, as soon as a quorum has been established. For the upcoming 114th Congress, it is scheduled to occur on Tuesday, January 6, 2015.

Process.

The Clerk of the House accepts nominations from the floor. A member of each Leadership—the respective conference and caucus chairmen—nominates one candidate from each party.

Reps. John Boehner (R-OH) and Nancy Pelosi (D-CA) will receive these party nominations in the 114th Congress. The Clerk then asks the rest of the House whether there are any further nominations. Once the slate of nominees is set, the Clerk begins the roll call vote which proceeds in alphabetic order by surname. When called upon, members respond orally with their vote (viva voce).

Required Vote Threshold.


According to the precedents of the House, an absolute majority of “the total number of votes cast for a person by name” is required to elect a Speaker.

Abstentions, “present” votes, and of course, missed votes are not counted towards the total number of votes cast for a person.

For example, voting present lowers the total number of votes needed for a nominee to achieve a majority. If the full House is sworn in and voting, a majority of the full membership is 218. (Rep. Michael Grimm (R-NY) will not be sworn in for the 114th Congress as a result of his resignation, but a majority of the full members is still 218.)

Again, a plurality is not sufficient to be chosen Speaker. If a majority is not obtained on the first ballot, there are subsequent ballots until a winner receives enough votes.

No Voting Restrictions. There are no restrictions for whom Members may vote. They do not have to vote for the nominees or even a Member of the House of Representatives (the Constitution does not require the Speaker to be a Member, although it always has).

For instance, in 2013, Rep. Boehner received 220 votes, Rep. Pelosi received 192 votes, while Reps. Justin Amash (R-MI), Eric Cantor (R-VA), Jim Cooper (D-TN), John Dingell (D-MI), Jim Jordan (R-OH), Raul Labrador (R-ID), Rep. John Lewis (D-GA), and non-Members Colin Powell, David Walker, and former Rep. Allen West all received votes.

Potential Impact of Democrats.


Since they comprise the Majority party, as long as Republicans vote for some candidate by name (i.e., not missing the vote or voting present), the Democrat nominee cannot be elected without GOP votes simply because there are multiple candidates receiving votes.

And in the unlikely event that a large group of Republicans missed the vote or voted present, the result would be quickly reversed by the full Republican Majority by vacating the Speaker chair and starting anew. There is no way that Rep. Pelosi will be the Speaker in the 114th Congress without Republican votes.

Potential Impact of Republican Dissenters.

A sufficiently large block of Republicans—29 Members with the current political composition of the House (246 GOP-188 Democrats)—can prevent their party’s nominee from achieving the necessary majority to be elected Speaker.

For instance, in 1923, the progressive wing of the Republican Party blocked a Republican from being Speaker until some of their procedural demands were adopted. This occurred over three days and nine different ballots. Similarly the House has seen lengthier delays in electing the Speaker. In 1849, the House required over 59 ballots and 19 days to elect a Speaker. In 1856, more than 129 ballots were required.


WHO SENT ME THIS INFORMATION? MY FUNDIE-RELIGIOUS-WHACKO TEA PARTY AUNT.

HAVE YOU EVER HAD SUCH INFORMATION FROM THE DEMOCRATIC PARTY? WHY NOT?

THINK ABOUT IT. WE HAVE TO DO BETTER. FOLLOWING THE TEA PARTY'S LEAD IN MASTERING THE LEVERS OF POWER WOULD BE A GOOD PLACE TO START.

THE SECOND STEP WOULD BE FORMING STRATEGIC ALLIANCES WITH THE TEA PARTY ON ISSUES WE BOTH SUPPORT: SOCIAL SECURITY, MEDICARE, ETC.

Island Community in Maine Creates Worker-Owned Cooperative to Retain Local Businesses and Jobs

http://www.cdi.coop/forming-of-iec-in-maine/

6/17/2014

Contact:

Rob Brown, Director, Cooperative Development Institute’s Business Ownership Solutions program, 207-233-2987, rbrown@cdi.coop

Island Community in Maine Creates Worker-Owned Cooperative to Retain Local Businesses and Jobs

Deer Isle and Stonington, ME, June 17, 2014–Employees of three rural Maine businesses–Burnt Cove Market, V&S Variety and Pharmacy, and The Galley–are now the owners. All of them.

By forming the Island Employee Cooperative, Inc. (IEC), the largest worker cooperative in Maine and one of the larger worker co-ops in the United States, the employees were able to purchase the businesses from retiring owners Vern and Sandra Seile. Combined, the three businesses are one of the island’s largest employers and provide the community with a full array of groceries, hardware, prescription drugs, pharmacy items, craft supplies, and other goods and services.

The employees were concerned when word first circulated that the Seile’s were thinking about selling the stores and retiring. Potential buyers who were not part of the community would doubtfully have maintained the same level of jobs and services, and other employment options on the island are limited.

As a result, last summer, the Seile’s and the employees began meeting with the Independent Retailers Shared Services Cooperative (IRSSC), a purchasing cooperative of independent grocers in New England, and the Cooperative Development Institute (CDI), a nonprofit group that provides technical assistance to all types of cooperative businesses. These conversations explored the idea of transferring ownership of the companies over to the workers.

All agreed this was a win-win option. The employees began to work with IRSSC, CDI, Specialized Accounting Services and other advisors for nearly a year to create the worker cooperative, secure financing, purchase the stores, and ensure their livelihood while keeping ownership and profits local.

Vern Seile said he and his wife, Sandra, “were pleased that we were able to help the employees purchase the stores that Sandra and I have built over the last 43 years. It’s our way of saying thank you to them and our customers for their support.”

Now that they own their jobs, IEC president Alan White said, “This is a once in a lifetime opportunity. Many of us have worked in these stores for decades and never imagined this possibility. We know we have a lot to learn and a lot of work to do to be successful, but success means we will really achieve the American dream – economic security and building wealth through ownership, both for our families and our community.”

In a worker co-op, each worker-owner has one (and only one) share in the corporation and one vote in its governance. Co-ops typically get their start when workers band together to launch a new business. Conversions from conventional corporations are much less common, especially ones of the size and scope of the IEC.

“The IRSSC serves smaller, independent grocers and retailers around New England,” says Mark Sprackland, IRSSC Executive Director, “and we hope that this is only the first of many locally-owned and operated co-ops that we can help form in communities focused on sustainable growth.”

People across the country have been trying to figure out the best way to assist business owners who want to consider conversion to employee ownership, either as a growth strategy or as a retirement strategy,” said Rob Brown, Director of CDI’s Business Ownership Solutions program. “In many ways this deal provides the model, and we look forward to working with the IEC into the future to ensure their success.”

Maine-based CEI and the Cooperative Fund of New England, two Community Development Finance Institutions (CDFIs), organized the financing to buy the businesses. Without these funds, the workers’ dreams of buying the stores and keeping them local would have remained just that.

“This financial transaction represents the best kind of collaboration to build wealth in Maine’s rural communities,” said CEI Loan and Investment Officer, Cole Palmer. “CEI was tremendously excited to help the IEC realize its goal to purchase these three businesses.

“CFNE has worked with cooperatives since 1975 and was able to contribute expertise to the lending process. “We’re proud to commit to this very important worker-cooperative conversion, which preserves local ownership of these businesses and retains 62 essential jobs in the communities,” said Gloria LaBrecque, Northeast Loan and Outreach Officer with CFNE. “We congratulate the worker-owners of the IEC on this milestone achievement.”

Now that the employees own the businesses, they are excited to have a say in how they are run and a share in the profits they generate. As Mr. Seile said, “Now it’s their turn build on and improve what we have done.”

Independent Retailers Shared Services Cooperative
Contact: Mark Sprackland, Executive Director
ms51@comcast.net, 603-642-6911 office, 603-706-0868 cell

Cooperative Development Institute
We make democratic ownership work for everyone.
Contact: Rob Brown, Program Director, Business Ownership Solutions
www.cdi.coop, rbrown@cdi.coop, 207-233-2987, Northport ME

CEI
Promoting sustainable economic growth in rural communities since 1977.
1-207-882-7552 www.ceimaine.org
Contact: Liz Rogers, SVP, Marketing & Communications
erogers@ceimaine.org 207-632-7693, Portland, ME

Cooperative Fund of New England
A socially responsible lending organization and investment option, supporting cooperatives since 1975.
1-800-818-7833 www.cooperativefund.org
Contact: Gloria J. LaBrecque, Northeast Loan and Outreach Officer
gloria@coopfund.coop 207-272-2296, Portland, ME
This entry was posted in Business Ownership Solutions News, CDI News and tagged business, business solutions, buy-outs, CEI, CFNE, co-ops, cooperatives, ISRCC, maine, worker co-ops, worker cooperatives, worker ownership, worker-owners, workers. Bookmark the permalink.

Tell no-one: A century of secret deals between the NSA and the telecom industry

http://media.ccc.de/browse/congress/2014/31c3_-_6600_-_en_-_saal_2_-_201412281245_-_tell_no-one_-_james_bamford.html#video&t=3758

http://ccc2.mirror.xt0.org/congress/2014/h264-hd-web/31c3-6600-en-Tell_no-one_hd.mp4



REVELATIONS ON HOW THE NSA DOESN'T PROTECT US FROM ANYTHING...
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