Foxconn Fires 25% Of India Workers As Demonetization Destroys Sales

While piecemeal anecdotes and surveys have already exposed the devastation that PM Modi’s demonetization plan has had on the Indian economy, tonight we see the first hard evidence as Foxconn has asked 25% of its workforce to leave after the cash ban caused sales to collapse by 50% forcing the company to slash production by half.

Amid social unrest and loss of faith in the nation’s currency, India’s economy has ground to a halt with its Composite PMI crashing by a record in the last month as demonetization strikes.

And now, as The Economic Times reports, the government’s move to ban Rs 500 and Rs 1,000 notes from November 9 has had a domino effect on the mobile phone industry, where a large majority of mobile phones are bought for less than Rs 5,000 and most of the transactions happen through cash.

Consumer purchase power has been reduced dramatically– mobile phone monthly sales halved to Rs 175-200 crore post demonetisation – and sales revival is not looking up, as was perceived earlier, industry insiders said.

 

Leading local players including Intex, Lava and Karbonn are planning to lay off or bench 10-40% of their workforce, as they cut production to control inventory pile-ups in retail channels with consumers delaying cash purchases after Nov 8 demonetisation sucked out cash from the market.

 

Lava is shutting down its plant – which employs around 5000 people -for a week starting December 12, while others could soon follow, industry insiders said.

 

Foxconn – which makes devices for China’s Xiaomi, Oppo and Gionee, besides Infocus and Nokia – along with Lava, Intex, Karbonn and Micromax account for around 50% of the handsets assembled in India, say experts.

 

“The four plants in Sri City (Andhra Pradesh) are operating at 1.2 million capacity a month, down from 2.5 million that it has,” a senior industry executive aware of Foxconn’s manufacturing details said, asking not to be named. The company has put about 1,700 of its workforce on the bench, or on forced leave for two weeks during which they will get paid but the number of days would be cut from their earned leaves. Benching may continue if production – directly related to consumer demand – does not come to the 2 million a month levels by January, the person added.

Will the workers come back? Will production come back? Well as we noted previously, Modi’s move has shaken faith in the foundations

A final philosophical point. Our entire monetary system depends on trust. A banknote is a piece of paper that says the RBI will give the bearer another similar piece of paper, or make an entry in an electronic ledger for that amount. The system works because everybody believes that those pieces of paper will be accepted by everybody else and therefore, money serves as an useful medium of exchange. This move has shaken that trust.

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Mystery Flight 370 Ends in the Indian Ocean Vile Vortex, New Orleans

(excerpt Twilight Language)

As I previously noted here and in the most popular posting I’ve written for this Twilight Language blog (with over 17,000 readers as of today), “Terrorism, Aliens, Vile Vortices: The Mysteries of Missing Flight 370,” on March 9, 2014, I hinted where the focus of the search would end,

The Wharton Basin, especially its southern portions, is the key to this vile vortice.

Ships and planes have not been the subject of study here but whirling rings of lights under the Indian Ocean.

Ivan T. Sanderson’s Indian Ocean Vile Vortex.

Unlike the Bermuda Triangle and Japan’s Dragon’s Triangle or Devil’s Sea, the area where Flight 370 appears to have vanished has no popular culture name.

Because of its location of several storied waves and terrible winds, locals call these seas just south of here the “Roaring Forties.” But those seas may have distracted searchers for days.

The area of interest is known in Fortean literature as the Indian Ocean’s vile vortex, labeled “Wharton Basin” on one map.

While it was plotted out to be a predicted area of vanishings by Sanderson and others, there is a clear explanation of why it was ignored.

“There would appear to be ten lozenges, or vortices, ringing our earth in two belts, one in the northern, and the other in the southern hemisphere. These are approximately, if not precisely, centered 72° apart, and those in the southern hemisphere all shifted to the East (or right) exactly the same distance to about 40°. All but two lie over water but there is no evidence for one in the southern Indian Ocean; probably because no ships or planes ever passed through or over it.”
Ivan T. Sanderson, Invisible Residents, 1970, p. 143.

The Flight 370 search areas have moved around until now, when the focus is in the vile vortex of the southern Indian Ocean.

One of Fortean Times’ original Gang of Fort has died. The world is a little less enlightened today with the passing of Steve Moore (1949-2014). Steve was well-known for his many Fortean articles, his editorship of Fortean publications, and his good spirits.On Wednesday, March 19, 2014, Bob Richard wrote the following to the Fortean list: “Just learned that my oldest friend and colleague, Fortean, sinologist, chaos adept, Chinese film buff and comics wizard, Steve Moore died sometime in the last few days. He had recently been diagnosed with angina following a deterioration of circulation in his legs. Simply don’t know any other details yet. I miss him terribly already.”Steve was a rock in the Fortean world. This is earthshaking news!

Update: March 23, 2014
The search for missing Flight 370 is now focused on the Vile Vortex Ivan Sanderson pinpointed in the southern Indian Ocean.


Did you know there is a southern form of the Bermuda Triangle?

One of the most popular posting I’ve written for this Twilight Language blog (with over 12,000 readers as of today) is “Terrorism, Aliens, Vile Vortices: The Mysteries of Missing Flight 370,” published on March 9, 2014. Today, I want to explore more deeply aspects of that essay.

Why “No Little Green Men”?

Speaking about his thoughts on the vanished Malaysia Airlines Flight 370, John Goglia, independent air safety consultant and a former NTSB board member, spoke freely on CNN on March 13, 2014. He said, “The only thing we know for sure is that little green men didn’t come down and take it.”

So, I must ask, how does anyone know this?

John Goglia (above) served as a member of the U.S. National Transportation Safety Board (NTSB). With more than 30 years experience in the aviation industry, he was the first NTSB Board Member to hold an FAA aircraft mechanic’s certificate.

The mystery of Flight 370 continues to evolve. The strange Chinese satellite photo of three objects east of the location of where the transponder was turned off is now said to have been a “mistake.” New information from the USA government, has led now to the possibility of opening a new search area in the Indian Ocean for the missing Malaysia Airlines plane, White House spokesman Jay Carney said on March 13th. Many countries are partnering in the search and “following leads where we find them,” he said.
The area has continued to expand to now include the Indian Ocean.
Certainly, the cause of this disappeared flight is probably due to terrorism, bad weather, catastrophic structural failure, pilot suicide, engine failures, being shoot down, an internal bomb, a hijacking gone wrong, or something else rather terribly mundane in our modern era. Little green men, ufos, and vile vortices? How silly, right?
However, logic dictates that there is no reason to take anything off the table, from twilight dimensions to an area of known missing ships and planes. Lists of aerial disappearances are being scanned and stories like the 1937 Amelia Earhart disappearance are being dusted off, by television news programmers, to decide what ones should be highlighted. For example, on March 13, CNN News will be broadcasting a special on the History of Missing Planes at 10 PM Eastern. Clearly, this mystery has captured the public’s interest, and historically fits into a well-studied Fortean field.
 Credit here.
 

The entire popularization of “triangles of vanishings,” is to be credited to Fortean writer Vincent Gaddis, who put the Bermuda triangle “on the map” in a February 1964 Argosy feature, which he said extended Florida to Bermuda, southwest to Puerto Rico and back to Florida through the Bahamas. In 1965, Gaddis’ book, Invisible Horizons, furthered his thesis with more accounts of disappearances.

One of the most popularly known Bermuda Triangle stories is of the disappearance of Flight 19, consisting of five TBM Avenger torpedo bombers that disappeared on December 5, 1945, while over the Atlantic.
Gaddis’ friend Ivan T. Sanderson was behind the scenes in the conceptualization and came up with his own theories about a worldwide grid of such locations he called “Vile Vortices.” Indeed, I appeared, in 2006, on the History’ Channel’s UFO Files’ episode “Pacific’s Bermuda Triangle,” talking of my knowledge of Sanderson’s interest in the subject.
Another Vile Vortex is called “The Devil’s Sea” or “Dragon’s Triangle” or “Ma-no Umi”
off Japan, in an area that extends as a triangle between Japan and the Islands of Bonin, including a major portion of the Philippine Sea.
One of the most celebrated stories of Dragon’s Triangle missing ships is that of USS Cyclops which disappeared in March of 1918. Few realize that the various theories as to why the Cyclops went down lead to the famed novel and resulting movie, The Poseidon Adventure (1972).Is there a Vile Vortex in the most recent direction that Flight 360 is said to have been flying?
Yes, one of Sanderon’s Vile Vortices is in the Indian Ocean, where some planes and more have vanished.
The following ships may have disappeared in the Indian Ocean:

København 1928-1929 somewhere between Buenos Aires and Australia
Madagascar 1853 somewhere between Port Phillip and London
Neva 1887 somewhere between Banyuwangi and Lisbon
Shannon 1885 somewhere between London and Calcutta
Burmah 1859/60 somewhere between London and New Zealand
HMS Stonehenge 1944 somewhere in Bay of Bengal or Andaman Sea

Some of the planes include…

During World War II, on July 7-9, 1943, a famed Japanese aviator and explorer Kenji Tsukagoshi flying a prototype Tsukagoshi Ki-77, from Singapore to Sarabus (now Hvardiiske, Crimea) to over the Indian Ocean, was lost with a crew of 5 and 3 Imperial Japanese Army passengers.

On March 25, 1986, K2729, an Afghan Air Force cargo plane, an Antonov An-32 flight, disappeared over the Indian Ocean, 450km off Jamnagar, India. It was operated by the Indian Air Force.

Not missing, but a mystery, in 2004, a Beechcraft 200 Super King Air left Perth, Australia, on a 600 kilometre journey and eventually flew 2,840 kilometres before crashing in Queensland.
Will the mystery of Flight 360 ever be solved or join the annals of other Fortean mysteries?
Credit sources: Wikipedia, the books of Vincent Gaddis and Ivan T. Sanderson, my files, and online maps.

Mysteries love theories. Unknown gaps in data call for speculations. We are seeing it happen this weekend.
Malaysia Airlines MH370, a Boeing 777, has gone missing. Airline officials lost contact with the plane, which was carrying 239 passengers, two hours into the Kuala Lumpur-to-Beijing flight, on Saturday, March 8, at 2:40 a.m. local time (18:40 GMT). It is thought it went missing off the coast of Vietnam, but that is pure speculation.

This photo provided by Laurent Errera taken Dec. 26, 2011, shows the Malaysia Airlines Boeing 777-200ER that disappeared from air traffic control screens Saturday, taking off from Roissy-Charles de Gaulle Airport in France. The Malaysia Airlines Boeing 777-200 carrying 239 people lost contact with air traffic control early Saturday morning, March 8, 2014 on a flight from Kuala Lumpur to Beijing, and international aviation authorities still hadn’t located the jetliner several hours later. (Photo Credit: Laurent Errera)

Who was on board? A delegation of painters and calligraphers, a group of Buddhists returning from a religious gathering in Kuala Lumpur, a three-generation family, nine senior travelers and five toddlers.Most of the 227 passengers on board missing Malaysia Airlines Flight 370 were Chinese, according to the airline’s flight manifest. The 12 missing crew members on the flight that disappeared early Saturday were Malaysian.Other passengers were from India, Indonesia, Australia, the United States, France, New Zealand, Ukraine, Canada, Russia and the Netherlands, the airline said.Keller, Texas native, 50-year-old Philip Wood, was on Malaysia Airlines Flight MH370 when it disappeared over the Gulf of Thailand in the South China Sea. Philip Wood works as a technical storage executive at IBM Malaysia and was transferred to a job from Beijing to Kuala Lumpur, the capital of Malaysia, where the flight originated.

Terrorism
 
A Boeing 777 goes missing. Is someone playing a numbers twilight game?

Was it terrorism? Two people named on the manifest — an Austrian and an Italian — whose passports had been stolen were not aboard the plane. But speculation is they were just trying to immigrant, yes, illegally, from Iran. There are questions about a third, Chinese, passport, but word of that has disappeared from the media.

Freescale, Motorola, Lear, UFOs
 
 

On March 8th, the Austin, Texas-based Freescale Semiconductor confirmed that 20 employees were passengers on Flight 370. Twelve are from Malaysia and eight from China, the company said.

The history of Freescale Semiconductor is intriguing. Freescale was one of the first semiconductor companies in the world, having started as a division of Motorola in Phoenix, Arizona in 1948, according to the company’s own historical data. In 1955, a Motorola transistor for car radios was the world’s first commercial high-power transistor. It was also Motorola’s first mass-produced semiconductor device. It was in 2004, a mere decade ago, when it became autonomous by the divestiture of the Semiconductor Products Sector of Motorola.

Motorola? 1948 for this division? In Phoenix? Who came up with the name Motorola? It turns out most credit for the name is given to William “Bill” Lear, in 1930, the investor/inventor who would go on to produce such items as the 8-track music cartridge and the Lear Jet. Perhaps it is only a coincidence that the mystery of UFOs date to such events as Roswell in 1947, in nearby New Mexico.

Some folks take the notion of “Reverse-Engineering Roswell UFO Technology” very seriously. In that paper, computer company chief Jack Shulman argues that the transistor could never have been invented so suddenly at AT&T in late 1947 without input from top secret Government projects, that some have identified to him as being from alien spacecraft.

And then there is Bill Lear’s son, John, who is an accomplished pilot, former CIA operative, and Ufologist. He is noted in the latter field for promoting a variety of conspiracy theories which are based, he claims, on information obtained from military contacts.
Lear is a controversial figure in Ufology, to say the least, for many of his statements.

Lear believes that any number of flying discs ‘fell’ into our hands when they crashed in the southwest in the late 1940’s and early 50’s.
Lear’s scenario also includes the suspicion that the government has made secret deals with the ‘aliens’, actually exchanging humans for advanced technological data. Source.

Will we be hearing that aliens are behind the disappearance of Flight 370?
Ooops. I guess some sites are already writing about this form of speculation.
 
Missing Planes and Sanderson’s Vile Vortices

Did Flight 370 vanish off Vietnam into a Devil’s Triangle-like area, like the one found off Japan? Who knows, but this is not an area recognized in Fortean literature for such disappearances. Indeed, examining Ivan T. Sanderson’s traditional map of “Vile Vortices” around the globe does not show one in this location.

But an airliner is missing, and answers are wanting about what happened.Update March 12. It has been confirmed by military radar, and missed by civilian radar, that the plane’s transponder was turned off as 370 neared the Vietnam coast. The flight then turned around and fly over the Malay Peninsula.

Late on March 12, the Chinese authorities announced they have new images of 79″ by 72″ object in the ocean that they think is 370 debris.

Or was Flight 370, like Flight 19, the way into one of Ivan’s Vile Vortices

Other Mysteries
As the search for the aircraft continues, the rescuers are bumping into other mysteries. Take this Sunday, March 9th, CNN report:

‘Strange object’ not debris from missing Malaysia Airlines Flight 370 

The mysteries surrounding the disappearance of Malaysia Airlines Flight 370, and the true identities of some of its passengers, are as deep as the South China Sea waters where a multinational search team is searching for the jet.
One promising lead has turned out to be a dead end. A “strange object” spotted by a Singaporean search plane late Sunday afternoon is not debris from the missing jetliner, a U.S. official familiar with the issue told CNN on Sunday.
A U.S. reconnaissance plane “thought it saw something like debris but it was a false alarm,” said the official, who spoke on condition of anonymity.

If all those on board Malaysia Airlines Flight 370 are found to have died, it will rank as the deadliest airline disaster since November 12, 2001, when American Airlines Flight 587 crashed into a New York neighborhood, killing all 260 people on board and five more on the ground. Many recall that crash with horror, as it followed so closely after the events of 9/11 in New York City.

BRICS establish $100bn bank and currency reserves to cut out Western dominance

(L to R) Russia's President Vladimir Putin, India's Prime Minister Narendra Modi, Brazilian President Dilma Rousseff, China's President Xi Jinping and South Africa's President Jacob Zuma join their hands during the official photograph of the 6th BRICS summit in Fortaleza, Brazil, on July 15, 2014 (AFP Photo)

(L to R) Russia’s President Vladimir Putin, India’s Prime Minister Narendra Modi, Brazilian President Dilma Rousseff, China’s President Xi Jinping and South Africa’s President Jacob Zuma join their hands during the official photograph of the 6th BRICS summit in Fortaleza, Brazil, on July 15, 2014 (AFP Photo)

The group of emerging economies signed the long-anticipated document to create the $100 bn BRICS Development Bank and a reserve currency pool worth over another $100 bn. Both will counter the influence of Western-based lending institutions and the dollar.

The new bank will provide money for infrastructure and development projects in BRICS countries, and unlike the IMF or World Bank, each nation has equal say, regardless of GDP size.

“BRICS Bank will be one of the major multilateral development finance institutions in this world,” Russian President Vladimir Putin said on Tuesday at the 6th BRICS summit in Fortaleza, Brazil.

The big launch of the BRICS bank is seen as a first step to break the dominance of the US dollar in global trade, as well as dollar-backed institutions such as the International Monetary Fund (IMF) and the World Bank, both US-based institutions BRICS countries have little influence within.

“In terms of escalating international competition the task of activating the trade and investment cooperation between BRICS member states becomes important,” Putin said.

Russia, Brazil, India, China and South Africa account for 11 percent of global capital investment, and trade turnover almost doubled in the last 5 years, the president reminded.

Each BRICS member is expected to put an equal share into establishing the startup capital of $50 billion with a goal to reach $100 billion. The BRICS bank will be headquartered inShanghai, India will preside as president the first year, and Russia will be the chairman of the representatives. Each country will send either their finance minister or Central Bank chair to the bank’s representative board.

Membership may not just be limited to just BRICS nations, either. Future members could include countries in other emerging markets blocs, such as Mexico, Indonesia, or Argentina, once it sorts out its debt burden.

BRICS represents 42 percent of the world’s population and roughly 20 percent of the world’s economy based on GDP, and 30 percent of the world’s GDP based on PPP, a more accurate reading of the real economy. Total trade between the countries is $6.14 trillion, or nearly 17 percent of the world’s total.

The $100 billion crisis lending fund, called the Contingent Reserve Arrangement (CRA), was also established. China will contribute the lion’s share, about $41 billion, Russia, Brazil and India will chip in $18 billion, and South Africa, the newest member of the economic bloc, will contribute $5 billion.

The idea is that the creation of the bank will lessen dependence on the West and create a more multi-polar world, at least financially.

“This mechanism creates the foundation for an effective protection of our national economies from a crisis in financial markets,” Russian President Vladimir Putin said.

The group has already created the BRICS Stock Alliance an initiative to cross list derivatives to smooth the path for international investors interested in emerging markets.

Russia has also proposed the countries come together under an energy alliance that will include a fuel reserve, as well as an institute for energy policy

“We propose the establishment of the Energy Association of BRICS. Under this ‘umbrella’, a Fuel Reserve Bank and BRICS Energy Policy Institute could be set up,” Putin said.

Documents on cooperation between BRICS export credit agencies and an agreement of cooperation on innovation were also inked.

Bringing emerging economies closer has become vital at a time when the world is guttered by the financial crisis and BRICS countries can’t remain above international problems, said Brazil’s President Dilma Rousseff.

She cautioned the world not to see BRICS deals as a desire to dominate.

“We want justice and equal rights,” she said.

“The IMF should urgently revise distribution of voting rights to reflect the importance of emerging economies globally,” Rousseff said.