Previously I have written about the lock the Chinese have on the production of rare earth neodymium magnets. With the massive build up planned for wind power, magnets are more and more a premium as well as crucial to national security. Every jet fighter carries several pounds of magnets necessary for electrical functions and guidance systems. According to this interview with mining analyst, John Kaiser, China has a lock on a lot more and a strategic plan that might be pretty scary for underfunded companies. This quote is very telling
In the case of most of the Chinese mining companies, they are all at least partly if not wholly owned by the State. And we just saw an example where a distressed Australian company, which had several hundred million dollars lined up from Western sources to put its rare deposit into production, had the plug pulled on them. The stock was at 10 cents, they were dead in the water, and then the Chinese came in and ponied up $360 million in a combination debt equity financing that will give them majority control of this company and, of course, they’ve got all the boilerplate in the news release saying we will honor all the offtake agreements. All these offtake agreements are just good for five years and they only represent a small fraction of the total resource that will now be under the control, indirectly, of the Chinese government. So, in a sense, they’ve tied up what could have been one of the independent sources of raw materials in the world for the non-Chinese manufacturers.
Read the entire interview, but it does not take much of a stretch of the imagination to believe we will be giving up more of our natural resources to China, a country to which we are already seriously indebted and dependent upon for much of our rare earth metals.
Yesterday the World editorial staff wrote a piece bemoaning the fact the con man Mr. Mountain fleeced people out of millions, then skipped the country and just sent a disc showing him and his wonderful life in South Ameican, drinking margaritas and lots of ladies.
The World was very miffed.
I, on the other hand responded with this:
Kay wrote on Jun 3, 2009 11:31 AM:
I’m laughing so hard i’m crying. Boo hoo to you all. What has this guy done that SCDC and local commissions haven’t been doing for 60 years?
Shoe doesn’t fit too well on the other foot does it Big Guys?
If he were on the SCDC board he’d be gittin some more free money !
$7,500 cap? A review of who had open checkbooks would be nice. This should apply to the visitors center now. Not to mention the fact they are going to throw away 17K on leased space. I suspect they will not have a single visitor while in the temporary location. I guarantee you they will go over budget once they get started.
My response to the article in The World-AKA-Readers Digest Happy News article regarding the Visitor Centers’ move to the Hub building for $17,000 rent until they can move into their wonderful new magnificent $1.2 Visitor Center:
h yes, tut tut tut, councilor, let’s us “put on the best light possible”, just before “we put that $1.2 foot forward”.
That outta do er !
Thank you Guiding Fathers, this makes so much sense to this county and the financial truths we are all living by.
You guys are just GREAT !!!
Thank you so much, I was really worried about that “best light” and foot forward thingy.
I have a better user for that foot, but I don’t think you elites would like it.
Here’s the article:
CB to lease in the Hub
By Alexander Rich, Staff Writer
Wednesday, June 03, 2009 | 2 comment(s)
Font Size: Shrink Font Enlarge Font | The Coos Bay City Council isn’t happy about the price, but has agreed to lease offices in the Hub Building for $17,695. It will serve as the temporary home for the Visitor Information Center while the existing facility is expanded.
The 10-month lease starts July 1 and runs through the end of April 2010. City Manager Chuck Freeman said the city plans to sublease some of the space to the Coos Bay-North Bend Visitor & Convention Bureau for $200 a month.
Councilors Jon Eck, Joanie Johnson and Gene Melton all said they thought the rent was a bit high.
The city attempted to bargain for a better rate, said Economic and Community Development Manager Joyce Jansen. She noted a previous tenant paid $1,930 a month for the 1,822-square-foot space.
“We are paying a little less than fair market value,†she said.
Another option discussed Tuesday was renting space in the North Point Realty Building. It would cost $950 a month, compared to $1,695 in the Hub building, but the space is smaller and less visible.
Councilor Mark Daily argued in favor of leasing the Hub building space. He noted the purpose of refurbishing the visitor center is to put Coos Bay in the best light possible and renting a nice space does just that.
“I think it puts a good foot forward,†he said.
Eventually everyone voted to approve the lease except Eck, who insisted the city look elsewhere.
The Urban Renewal Agency has approved new guidelines for applicants seeking Virtual Business Incubator grants. Businesses can only qualify if the owners live within Coos County, attend training on developing a business plan and promise to submit a report on how the grant benefited the business after a year. A business owner must repay the grant if she moves the business outside city limits and grants will only be awarded on a one-time basis for a maximum of $7,500.
The agency has approved 24 grants, including two Tuesday to Atlas Edge Staffing Services and Hush Hair.
LET US NOT FORGET THE CITY CANCELED THIS YEARS SMALL BUSINESS SEMINAR FOR LACK OF INTEREST.
KEEP A VOTIN FOR EM COOS COUNTY, OVER AND OVER AND OVER……….
Can’t retrieve it but I said something like “I’m laughing so hard I’m crying. Boo hoo, now you know how we feel. If he’d stayed he’d be on the board of SCDC and be a hero.
Uh oh, what we gonna do now?
If he’d stayed he could still be sucking money from the taxpayers, like the rest of SCDC.
This may not be the proper place to post this but it won’t get into the World-AKA-The Readers Digest – you know happy happy happy news, while we help SCDC pick your pockets !!!
Anyway, looks like one of the local swindlers just pissed in the face of the City Fathers. I posted a comment which will never see the light of day, but thought your readers might like to see what happens when ‘THEY’ eat their own.
Having a lovely time in Nicaragua
By The World Editorial Board
Tuesday, June 02, 2009 | 1 comment(s)
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See Gary Mountain’s slide show
“Check out this Slide Show,†the e-mail says. It links to a photo montage of Gary Mountain’s travels in sunny Central America.
Look — there’s Gary in a floral shirt, dining at Hotel Fortuna.
There’s Gary, shirtless, sunning his belly on the shore of Lake Nicaragua.
Here are the smiling waitresses at “Cafe Tropical.†And the go-go girls at “El Club.â€
All that’s missing is a photo of Gary’s backside, mooning Coos Bay taxpayers.
Mountain is the wheeler-dealer who promised to renovate the downtown Lockhart Building. He collected nearly $1 million from gullible Californians, didn’t renovate the building, and went south when people started asking questions.
We hadn’t heard from him in months. Then, just days before the City Council was scheduled to review options for cleaning up his mess, here comes his slide show. One-hundred-fourteen photos of Gary’s Excellent Tropical Adventure. City Manager Chuck Freeman was livid when he saw it.
Tonight the council will discuss an engineer’s report on the building. The news is dismal.
The building isn’t worth the cost of repairs. The land isn’t worth the cost of demolition. Doing nothing would leave a dangerous, deteriorating ruin in the heart of downtown Coos Bay.
“We’re left with just terrible options,†Freeman said.
The city didn’t create this problem, but the city appears to be stuck with it. Never mind going after the California investors. Mountain already spent their money at El Club.
Reading the engineer’s report, the city’s way forward seems plain: Tear down the building. It’s cheaper than renovation, safer than boarding it up. Then take legal action to seize the property, and hope for a buyer. Someday, with luck, taxpayers may get part of their money back.
Nice hearing from you, Gary.
I tried to post a comment:
I’ll see if I can retrieve it.