Category Archives: business news

business news, economic news, Joe Biden

‘Old jobs’ not as good?

A frequent critic of www.highplainsblogger.com decided to weigh in with a comment about President Biden’s job performance.

He disagrees — not surprisingly — with my assessment of the job growth that has occurred during the Biden administration. My critic says Biden has created “no real new jobs.” That the only jobs being “created” are the old jobs that are being filled again.

Hmm. I rolled that one around for just a moment.

It occurred to me that the old jobs are just as valuable as the new jobs. I mean, those who are filling the old jobs are paying taxes and contributing to the nation’s economic well-being just as much as they would be had they occupied “new jobs.” Isn’t that right?

The critic just cannot seem to grasp that I remain as faithful to Joe Biden as he does to Donald Trump. Except for this important qualifier: Biden defeated Trump in 2020. Oh, and Trump is in a deep pile of dookey over, well … you know.

johnkanelis_92@hotmail.com

business news

Goodbye, stick shifts? Oh, my!

I just glanced at an article in The Atlantic that saddens me greatly. It’s because the article foretells the demise of stick shifts in motor vehicles. This is a terrible event in the age of the horseless carriage.

Here’s the article to which I refer:

The End of Manual Transmission – The Atlantic

I learned how to drive on a manual transmission. Mom taught me the ins and outs of operating a three-speed transmission in her 1961 Rambler. It was a brown-ish vehicle. It wasn’t very sporty, but it did allow me to learn the intricacies of actually operating a motor vehicle.

Mom advised me that “once you learn to master a manual transmission, you’ll be able to drive anything.” Oh, she was so right.

Not too many years after learning how to drive Mom’s Rambler, I returned home from Vietnam and spent the final few months of my Army tour of duty with an armored cavalry regiment in Fort Lewis, Wash. I got orders to report to a transportation company within the Third Armored Cav. They threw me into a five-ton cargo truck. And, yep, it had a manual transmission.

It was a piece of cake, man.

Ian Bogost writes in The Atlantic: But the manual transmission’s chief appeal derives from the feeling it imparts to the driver: a sense, whether real or imagined, that he or she is in control. According to the business consultant turned motorcycle repairman turned best-selling author Matthew Crawford, attending to that sense is not just an affectation. Humans develop tools that assist in locomotion, such as domesticated horses and carriages and bicycles and cars—and then extend their awareness to those tools. The driver “becomes one” with the machine, as we say.

Hey, it’s not “imagined.” The driver is in control.

My family members have known for years how I feel about stick-shift driving. I always have preferred to actually manipulate the clutch pedal and run the shifter through its paces over just sitting behind the steering wheel and guiding the car to wherever I have pointed it.

Hey, I’ll get over this sad news. It’s just going to take some time.

johnkanelis_92@hotmail.com

business news

Is this Biden’s ‘Benghazi’?

Hunter Biden’s business activity and the controversy that’s being hyped up about it is beginning to remind me more than just a little bit of … Benghazi!

You remember Benghazi. Terrorists stormed the U.S. consulate in the Libyan city in late 2012. Four people — including the U.S. ambassador to Libya — died in the attack. Republicans blamed Hillary Clinton, who was secretary of state during the attack.

Clinton sat before a congressional committee for 11 hours. Republicans on the panel sought to find something — anything — with which to accuse her. They grilled her incessantly.

They found nothing.

So now we have the son of President Biden on the griddle. The GOP insists that Hunter Biden’s laptop contains material that could send the president’s son to prison. They keep yapping about an investigation “when we take back the House.” What, I want to know, do they plan to investigate?

What did he do? Biden accepted high-paying jobs that he got because he is the son of a former U.S. senator, former vice president and current president. He is making a lot of dough working for these companies, even though he has no practical experience in the energy business, which is relevant to at least one of the companies that hired him.

What Is Hunter Biden Being Investigated For? Details of Federal Probe (msn.com)

Is it a crime for the child of a famous person to accept a cushy, well-paying job? Hah! It’s been done many times before and will be done far into the future.

The GOP is trying to hang tax charges on Hunter Biden, contending he didn’t pay his share of taxes.

This business about Hunter Biden has been kicking around for a while. During the 2020 campaign, GOP operatives sought to make Biden’s business dealings a campaign issue to use against his dad. Hunter Biden had taken a job with a Ukrainian energy company, for example, prompting Republicans to wonder aloud about the propriety of the hire. However, a Ukrainian prosecutor declared out loud that neither Biden — not Joe nor Hunter — did anything illegal.

End of story? Hardly!

My sense is that this matter will produce as much credible criminal wrongdoing as the Benghazi tragedy did against Hillary Clinton.

We will have, to borrow a term, a nothing burger.

johnkanelis_92@hotmail.com

business news

Eye-rolling gas prices

My eyes kept rolling as we drove through much of Central and North Texas, looking at the price of motor vehicle fuel.

It’s coming down, if you want to call it such. I shake my noggin and try to conjure some real-life “good news” at what we are seeing along our highways.

My wife and I no longer are pumping diesel fuel into our sole mode of motor transportation. Our new pickup is a gasser, unlike our former vehicle, which guzzled diesel fuel.

We drove nearly 600 miles to and from the Texas Hill Country this weekend. I noticed about two, maybe three, service stations advertising gasoline at $3.99 per gallon. I recalled a comment from a Dallas-Fort Worth TV news anchor the other day, seeking to put a positive spin on $3.99 gas, only to acknowledge that his obvious eye-rolling meant he didn’t mean to suggest we should be happy with paying less than $4 per gallon.

I’ll close with this: What goes up so damn rapidly almost never comes down at the same rate of speed.

Why is that? I figure the fossil fuel companies want to reap the reward for as long as possible of investors’ nervous jerks about the worldwide oil market.

In some quarters, I believe they call it “price gouging.”

johnkanelis_92@hotmail.com

business news

POTUS pounded unfairly

My bias is clear and well-documented on this blog. I stand in support of President Biden.

That said, I need someone to explain to me just why he is getting pounded — in my view unfairly — for the rising energy prices that are taking an increasing bite out of our disposal income.

Supply of fossil fuel is down, demand is up. Russia has gone to war with Ukraine, forcing the United States and our worldwide allies to cut off Russian oil exports. The “supply chain” crisis isn’t letting up. Not only that, Americans are paying less for fuel than citizens of many other industrialized nations, meaning that this is a worldwide crisis.

And yet …

We hear from the right wingers that Biden is “doing nothing” to ease the pain at the pump. We hear he is feckless and clueless.

How in the world does the president of the United States control the worldwide supply and demand? What can he do to correct it?

Hey, I admit to being slow on the uptake on a whole array of issues. This is one of them. I don’t profess to know all the answers. Hell, I cannot even figure out how to correct some of the glitches in my TV streaming service at home.

I have said all along — and this argument has applied to presidents of both parties — that the POTUS never should take undue credit for success, nor should he received undue blame for problems that occur on his watch.

However, Joe Biden is the president of the United States. He has served in government long enough to know that the blame he gets just goes with the territory.

It’s just not fair.

johnkanelis_92@hotmail.com

business news, local news

Herring rumbles persist

I keep hearing the rumbles from up yonder on the Texas Caprock about a landmark structure in downtown Amarillo.

It’s the Herring Hotel building. I need to add the term “building” because it hasn’t been an actual hotel since the 1970s. It has been rotting for decades.

Along comes a firm that is trying to market it to investors. One of my spies in Amarillo tells me the firm specializes in historic hotel structures. It is working, my snitch tells me, on the Le Meridian in Fort Worth. The theme of whatever happens to the Herring will be to honor the heritage of the region.

OK. Let’s see. That would be cattle, railroads, oil and natural gas exploration. Let’s throw in medical research and development, along with nuclear weapon assembly and disassembly, and — oh, yes! — with aircraft manufacturing and assembly.

That’s a varied history, don’t you think?

The Herring used to be the place to see and to be seen. It was the site of extravagant parties and was a gathering place for the rich, famous and those who aspired to be, um, rich and famous. These days it’s a place where homeless people seek shelter from the frigid Panhandle winter.

I want life to return to the Herring. The city has turned several important corners in its efforts to revive its downtown district. It has restored old buildings (turning two of them into hotels), built a baseball park, welcomed a glitzy new hotel near City Hall.

I am not going to predict that the Herring site is going to turn into shiny new jewel that towers over the north end of Amarillo’s downtown district. However, the rumbling just won’t stop. It leads me hope there’s something to what I suspect might be about to occur.

johnkanelis_92@hotmail.com

business news, national news

Looking for evil intent?

The right-wing goon squad that is on the hunt for evil intent involving President Biden and his son, Hunter, are going to stop at nothing to concoct some nefarious plot that — as I look at it — defies logic.

Hunter Biden went to work years ago for a Ukrainian energy company, serving on the board and raking in a lot of dough for doing, allegedly, nothing to earn it. I get that it doesn’t look good for someone to trade on his famous parent’s name for considerable profit. Hey, it happens; e.g.: Donald Jr. and Eric Trump.

What about dear ol’ Dad, though? Are we supposed to believe that a man who has spent virtually his entire adult professional life in public service is going to throw it all away with an obviously careless and corrupt practice? The right-wingers want us to believe that President Biden himself profited from Hunter’s association with the energy firm.

Yes, that the president of the United States of America hauled in cash and fattened his own bank account. How does someone with half a brain even think he can get away with such a thing when the public is watching his every move?

Joe Biden served for eight years as vice president in the Barack Obama administration. Prior to being elected VP, he served for 36 years as a U.S. senator from Delaware. Prior to that, Biden served on a county council as a Democratic representative.

I did the math: That’s 52 years of public service. 

And yet the right-wingers want us to believe that a man who’s been under the public’s prying eyes would be stupid enough to take money while his son is working as a board member for a foreign-based energy firm.

One more point. During the first impeachment inquiry into Donald Trump’s quest for a political favor from Ukraine, a prosecutor in that country declared categorically that neither Joe nor Hunter Biden committed any crimes.

Still, the hunt goes on. To what end? To seek to destroy the career of the man who defeated Donald Trump.

johnkanelis_92@hotmail.com

business news, local news

My heart fluttered … but wait!

This morning brought a bit of a surprise that I thought initially might mean a huge announcement involving a downtown Amarillo, Texas landmark-turned-community eyesore.

It appears my hopes are a good bit premature.

I refer to the Herring Hotel, the long-abandoned structure on the northern end of the downtown district.

My preliminary snooping this morning revealed a website;

Herring Hotel – Amarillo Investment (herringhotelproject.com)

It appears to be the creation of an investment firm that is looking for people to sink money into rehabilitating the Herring Hotel site. The site has lots of pictures of the structure as well as photos of other downtown hotel projects that have succeeded in other communities.

Does any of this signal the pending rebirth of the once-grand hotel? Not necessarily. Then again, lightning could strike.

I also reached out this morning to Bob Goodrich, who has owned the site for many decades. He pays the tax bill every year on it and has been doing what he can to entice someone — anyone! — to buy it from him. On at least two occasions over the years I have known Goodrich, he has told me of a pending sale only to see it fall apart.

I cannot speak passionately enough about how I want to see the building revived and brought back to life. It stands vacant and, truth be told, time has not been entirely kind to it.

Here’s the good news, though, for those of us who want a brighter future for the Herring: The Barfield Building at the corner of Sixth Avenue and Polk Street — which was actually uglier than the Herring — has returned to the world of functionality. It is now a boutique hotel. I haven’t seen it yet in its newfound glory; maybe one day soon.

Meantime, I will continue to send good vibes and karma to the Herring in the hope we hear of an announcement soon.

johnkanelis_92@hotmail.com

business news

Jobs piling up, unemployment low … huh?

The U.S. Labor Department each month gives us a snapshot of where the nation’s economy stands. It comes in the form of its jobs report.

What did the Labor stats show us this month? Oh, that private non-farm employers added 428,000 more Americans to their payrolls and that joblessness remains at 3.6%, or at the same level it stood prior to the coronavirus pandemic.

Still, and this just baffles me to the point of confusion: President Biden keeps getting pilloried because the economy — according to the critics — is “in the tank.”

Is it? Not really. Actually, the economy is humming along fairly well.

Now, I will acknowledge the obvious “elephant in the room,” which would be inflation. I don’t like paying more for eggs, bread, milk, veggies and meat any more than the next red-blooded American. Nor do I like shelling out huge piles of dough for motor fuel. Is that totally within the president’s control? No. It isn’t even close.

We have this war erupting in Ukraine, which produces a lot of the world’s grain. Russian oil has been all but cut off from the rest of the world. Demand for all of that is high; supply is low. Hmm. High demand and low supply? What does that mean? We pay more for goods and commodities.

Biden is trying to help stem the rise in fuel prices by ordering the tapping of the Strategic Petroleum Reserve. He wants the SPR to ship 1 million barrels of crude oil each day for six months to help boost the supply of oil.

I am not going to criticize the president’s handling of the economy. He was dealt a bad hand when he took office in January 2021. The pandemic crippled the so-called “supply chain.” We are working our way through that crisis.

Meanwhile, we keep adding hundreds of thousands of jobs each month and the unemployment rate remains just about at rock bottom.

What in the name of realism is wrong with that?

johnkanelis_92@hotmail.com

business news, State news

Pro-business policy? Hah!

Let’s see. How does a politician who belongs to the political party that calls itself a “pro-business” organization justify a policy that stops shipments of goods and commodities and threatens so many businesses in the state he governs?

Republican Texas Gov. Greg Abbott has pulled back his enhanced-inspection order on the state’s border with Mexico. He said he was looking for human traffickers and their “cargo” of individuals who were being smuggled into the United States.

Then he worked out agreements with two Mexican state governors and lifted the inspection protocol at crossings involving the states of Nuevo Leon and Chihuahua. The delay in delivery of food and other goods has crippled businesses across the state.

Now he’s called off the inspection crackdown. The damage has been done to many businesses in Texas … and to what end?

Greg Abbott has pulled off yet another political stunt. It’s not a business-friendly stunt at that!

johnkanelis_92@hotmail.com