Another Major Employer Leaves San Francisco, 1,000 Jobs Vanish: Macy’s Shuts Tech Center in Broad “Optimization” by Wolf Richter • Feb 4, 2020 • 140 Comments In total, 2,000 tech, admin, and management jobs to be cut and offices closed around the country. In addition, one-fifth of Macy’s stores to close. Brick & Mortar Meltdown.
I’m in Awe of How Tesla is Now a Supernatural Phenomenon by Wolf Richter • Feb 4, 2020 • 193 Comments The WTF stock chart of the year. And another WTF chart of just how tiny Tesla is compared to the top 10 automakers.
After Coronavirus Measures, China’s Crude Oil Demand Plunges 20%: Industry Sources by Wolf Richter • Feb 3, 2020 • 82 Comments “Largest demand shock the oil market has suffered since the global financial crisis, and the most sudden since the Sept. 11 attacks.”
THE WOLF STREET REPORT: What Will the Coronavirus Do to the US & Chinese Economy? by Wolf Richter • Feb 2, 2020 • 179 Comments Is this the black-swan event people have been predicting for years?
Brexit Moment: Nigel Farage’s Dramatic Final Speech at the European Parliament (Video) by Wolf Richter • Feb 1, 2020 • 169 Comments The UK is out of the European Union, and “the rest frankly is detail.”
“In Aggregate,” Consumers Are Doing Pretty Good, But America’s Vast Income Disparity Skew the Data by Wolf Richter • Jan 31, 2020 • 101 Comments Consumers that added $1.3 trillion to their savings last year are not the ones who owe $1 trillion on their credit cards.
Student Enrollment Dropped 11% Since 2011, Student-Loan Balances Surged 74%. Why? by Wolf Richter • Jan 30, 2020 • 109 Comments What’s Behind the Screwed-Up Student Loan Fiasco?
US GDP Rose by $850 Billion in 2019 as US National Debt Surged by $1.2 Trillion. Debt-to-GDP Ratio Hit 108% by Wolf Richter • Jan 30, 2020 • 133 Comments Dream of 3% economic growth remained a dream despite surge in government borrowing and spending.
Tesla’s Revenues +2%, Auto Revenue +0.7%. Net Income Plunges 25%. Without “Regulatory Credits,” it Would Have Lost $28 Million. Annual Loss Hits $862 Million. Shares Spike 12% by Wolf Richter • Jan 29, 2020 • 137 Comments OK, let’s look at the Tesla magic briefly.
What Happens When Investors Stop Fueling Cash-Burn Machines: At MoviePass Parent, Everything Goes to Zero by Wolf Richter • Jan 29, 2020 • 94 Comments Shares, which at peak-hype spiked 1,200% in a month, go to zero. Board of Directors goes to zero. Executives go to zero. Sales already zero.
