Coke stops production in Venezuela amid sugar crisis

Coca-Cola ran out of sugar in Venezuela. The company announced late Monday that it has temporarily stopped production of Coke and other sugar-sweetened beverages as sugar stocks are disappearing in Venezuela. ‘; More »

Genius money-saving home decorating ideas — Savings Experiment

Did you know: Using tape can be a low-cost way to decorate your home? Washi tape is a Japanese masking tape made of rice paper, and comes in all types of patterns More »

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Coke stops production in Venezuela amid sugar crisis

Coca-Cola ran out of sugar in Venezuela.

The company announced late Monday that it has temporarily stopped production of Coke and other sugar-sweetened beverages as sugar stocks are disappearing in Venezuela.

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It’s the latest sign of the economic and humanitarian crisis spiraling in Venezuela.

The country’s embattled government can’t afford to pay for basic imports, such as raw sugar, milk, eggs and flour. Government employees are only working two days a week to save on power. And medical supplies are scarce, causing a health care crisis that affects the nation’s 30 million people.

Related: Venezuela is running out of sugar

Last week, Venezuelan sugar suppliers announced that they had temporarily suspended production of refined, industrial sugar — the type Coca-Cola (KO) needs. Coke confirmed on Friday that the national sugar shortage would impact its own production “in the coming days.”

Sugarcane production in Venezuela has been falling due to price controls and rising production costs, as well as a scarcity of fertilizer. As a result, many small farmers have turned to other crops that are not price controlled and thus generate higher income.

Reuters first reported Coke’s production stoppage late Monday evening.

Coca-Cola’s spokesperson, Kerry Tressler, said the company had offered production-line employees “competitive severance compensation until the sugar supply is normalized.” Tressler did not say how many employees would be impacted by the suspension.

Related: Venezuela’s health care crisis

Coca-Cola said that local sugar suppliers informed the company that they believe they can restore sugar inventories in the near-term but didn’t specify a timeline. The company still plans to produce and distribute water and other non-sugar beverages in Venezuela.

But the production halt speaks to the severity of Venezuela’s problems: extreme economic recession, political infighting and an energy crisis.

The country’s main source of electric power, El Guri dam, is at record low water levels. The government blames a drought though outside experts say mismanagement is the root cause.

Related: Venezuela: the land of 500% inflation

To save electricity, the government, led by President Nicolas Maduro, has scheduled rolling blackouts for four hours per day in cities across the country except Caracas, the capital. Besides cutting the work week in the public sector, Maduro also pushed Venezuela’s timezone ahead by 30 minutes to get more daylight during working hours.

The energy scarcity stands at odds with Venezuela’s natural resources: It has the largest proven oil reserves in the world. But it exports almost all of its oil — the one engine in its contracting economy.

Venezuela’s economy is one of the worst in the world, according to several economists. Inflation is expected to rise nearly 500% this year and its economy shrank 5.7% last year, according to the International Monetary Fund. The IMF forecasts that Venezuela will be in recession until at least 2019.

Editor’s note: This article has been updated to clarify that Coca-Cola FEMSA receives its sugar from private suppliers in Venezuela.

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Article source: http://rss.cnn.com/r/02f456976d/0Lmoney0Bcnn0Bcom0C20A160C0A50C240Cnews0Ceconomy0Cvenezuela0Ecoke0Estops0Eproduction0Cindex0Bhtml0Dsection0Fmoney0Itopstories

Genius money-saving home decorating ideas — Savings Experiment


Did you know: Using tape can be a low-cost way to decorate your home?

Washi tape is a Japanese masking tape made of rice paper, and comes in all types of patterns and colors. Since the tape can be used and repositioned easily without damage to surfaces, the decorative options are endless.

Walls, cabinets, window blinds — even your furniture and shelves can be completely transformed with the colors and patterns you choose. And for only around $4 a roll at most office and art supply stores, it’s a small cost with big possibilities.

So get creative, and break out the tape!

Article source: http://dailyfinance.com/2016/05/24/home-decorating-ideas-savings-experiment/

Mosquitoes Carrying Zika Must Be Killed

In the midst of a Zika threat, the federal government should not be making it harder for people to kill the mosquitoes that could carry it. That’s one thing we should all agree on—but that’s not how the Obama administration sees it.

Yesterday, the Obama administration came out in opposition to the House’s latest effort to fight Zika at its source. This flies in the face of a major recommendation from the Center for Disease Control for fighting Zika: “vector surveillance and controla huge part of which is spraying mosquitoes.

This is serious stuff—we’re not talking about annoyances at your summer barbecue. Mosquitoes are the carriers of life-threatening exotic diseases, among which are the Zika and West Nile viruses. Beyond the personal danger, the treatment of Americans with mosquito-borne illnesses also costs taxpayers millions of dollars each year.

But leave it to Obama’s EPA to make a bad situation worse. Onerous new EPA regulations have completely hamstrung mosquito control activities. Despite the fact it’s already regulated, these duplicative permitting requirements have made it extremely expensive and nearly impossible for districts to control mosquito populations. Pile on litigation from extreme environmental groups, and simple paperwork violations for example that can cost $35,000 per day, according to the American Mosquito Control Association.

It’s simply too much for small businesses.  Leonard Felix of Olath Spray Service Inc. in Colorado testified before the House Small Business Committee, saying he was forced to shut down his business because of the costs and fear of frivolous lawsuits. Dean McClain of AG Flyers in Wyoming shuttered his mosquito control services because of the EPA’s requirement.

We cannot be passive in our fight against Zika, and we take the CDC’s recommendation seriously.  Following earlier action to provide needed funding, today the House will consider H.R. 897, the Zika Vector Control Act, which clarifies congressional intent for use of pesticides to prevent diseases and eliminates overlapping permitting regulations—tearing down these barriers to killing mosquitoes.

Unfortunately, it looks like the CDC’s recommendation is less persuasive to the White House than these litigious, deep-pocketed environmental groups. Yesterday, the Obama administration said it “strongly opposes” the House bill, calling it “unnecessary.”

The House has already passed multiple bills that provide resources to the federal government for Zika treatment and vaccine development efforts. But, if we’re not getting at—and killing—these root carriers, then it’s going to be less effective at stopping Zika than throwing a Band-Aid on that bug bite in a swamp. 

What could be more necessary than killing potentially disease-ridden mosquitoes in the midst of a Zika threat? It seems like the administration is putting the pockets of environmental interest groups ahead of the public.  We hope the administration reverses this disturbing position and supports H.R. 897. The health of the public is at stake.

Article source: http://www.speaker.gov/general/mosquitoes-carrying-zika-must-be-killed

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