Stimulus & Debt-Deferral Economy: Americans Splurged. Huge Price Increases Boosted Auto Sales. Liquidation Sales Pumped up Department Stores by Wolf Richter • Oct 16, 2020 • 154 Comments Depicted by my 13 whiplash-charts.
Airlines Raised $$$-Billions via Frequent Flier Programs. Delta alone Raised $9 billion via SkyMiles as Collateral. How? by Wolf Richter • Oct 15, 2020 • 81 Comments “You’re the Collateral.” Separating the assets (including you) from the liabilities (your miles), and pledging the assets.
The Great American Oil & Gas Massacre: Bankruptcies Hit New Milestone as Bigger Companies Let Go by Wolf Richter • Oct 14, 2020 • 124 Comments The American Oil Boom Was Where Money Went to Die.
“Daily Cash Burn” to Continue till Further Notice: US Air Travelers Still -65%, Ticket Prices -25%, a Toxic Mix. Delta Q3 Passenger Revenues -83% by Wolf Richter • Oct 14, 2020 • 107 Comments Eight months into crisis, airlines are stuck in worst recovery ever.
Crazy Times Not Only for Consumers Trying to Buy a Used Car but also for Dealers Grappling with the Distortions by Wolf Richter • Oct 13, 2020 • 82 Comments Retail prices of used cars & trucks spiked most since 1969 despite lower sales and plenty of supply. Wholesale prices, after biggest spike ever, are already falling.
Disney Struck. Cinemas, Landlords Live Nightmare in Brick-and-Mortar-Meltdown Series as Movie Debuts Shift to Streaming by Wolf Richter • Oct 12, 2020 • 121 Comments Efforts to redevelop dying Stonestown Galleria in San Francisco turn into mess. The beating of landlords will continue until mood improves.
Two San Francisco Hiltons Add to Woes of Commercial Mortgage-Backed Securities. Special Servicing Rate of Hotel CMBS Spiked to 26% by Wolf Richter • Oct 12, 2020 • 84 Comments Four of the six hotels that REIT Park Hotels & Resorts owns in San Francisco are closed, with convention & business travel at near-zero.
Status of the Social Security Trust Fund, Fiscal 2020: Beware of Vicious Dog by Wolf Richter • Oct 10, 2020 • 248 Comments Will Social Security Be There for You? Yes, but…
Astounding Distortions & Historic Price Spikes in Used-Vehicle Wholesale Market Begin to Unwind by Wolf Richter • Oct 9, 2020 • 70 Comments This stimulus economy is producing the weirdest effects.
Microsoft Offers Permanent Work-from-Home Option with Pay-Cuts if Employees Move to Cheaper Cities or Countries by Wolf Richter • Oct 9, 2020 • 205 Comments “Hybrid workplace,” it calls it. The trend for many companies with office workers and enough tech savvy to pull it off. A nightmare for landlords.