Companies & Markets

After Wasting $11.6 billion on Share Buybacks (“Return Value to Shareholders” LOL), Meme-Stock Pump-n-Dump Bed Bath & Beyond Goes Bankrupt, Will Liquidate

by Wolf Richter • Apr 23, 2023 • 176 Comments

Brick-and-Mortar Meltdown Continues. Revenues Collapsed by 55% since 2017: Share buybacks and Ecommerce killed it.

I Love How Tesla Wreaks Havoc among Automakers with Massive Price Cuts, Huge Sales Growth, Even Huger Production Growth, and Overcapacity

by Wolf Richter • Apr 22, 2023 • 317 Comments

Shareholders hate it. It’s bitter medicine for the industry that pushed upscale and jacked up prices so average Americans can no longer buy new vehicles.

Amex Customers – Above-Average-Income Consumers – Are Spending like Drunken Sailors, incl. on Travel & Restaurants

by Wolf Richter • Apr 21, 2023 • 153 Comments

They’re the Big Spenders, they move the needle. Millennials and Gen Z-ers are now the drivers of this growth.

Second PE-Firm-Owned Subprime Auto Dealer & Lender Suddenly Shuts Down after its Subprime Auto-Loan Bonds Make a Huge Mess

by Wolf Richter • Apr 18, 2023 • 127 Comments

“Net losses and gross charge-offs were understated” – Oopsie?

Another CRE Giant, Brookfield again, Defaults on Floating-Rate Office Mortgage. Again, CMBS Get this Mess, Not Banks

by Wolf Richter • Apr 18, 2023 • 66 Comments

Maybe banks, instead of keeping the riskiest CRE loans, securitized them? Would be a hoot to find out over the next few years as this plays out.

Trouble in Multifamily CRE: Two Big Messes, and Investors Are on the Hook, not Banks

by Wolf Richter • Apr 11, 2023 • 118 Comments

A REIT specializing in CRE loans foreclosed on 3,200 apartments in Houston. CMBS investors hit by default of 62 multifamily buildings in San Francisco.

Apple Mac Shipments Plunge 40% in Q1, Out-Plunging with Ease the Other Big PC Makers

by Wolf Richter • Apr 10, 2023 • 119 Comments

Hangover-time for PC makers after the explosion of demand during the pandemic.

San Francisco Office Market Turns into Nightmare, in Two Easy Steps. Step 1: Hogging Office Space; Step 2: Working from Home

by Wolf Richter • Apr 4, 2023 • 125 Comments

Step 3: The economy… but that step hasn’t happened yet.

Battle for Deposits: Tired of Getting Screwed by Banks, People Yank their Cash Out, Forcing Banks to Pay Higher Interest Rates. Treasury Yields Are a Mess Though

by Wolf Richter • Mar 27, 2023 • 198 Comments

That’s how it should have been all along. But the Fed’s interest rate repression killed competition for deposits.

FDIC Sells Much of Silicon Valley Bank to First-Citizens Bank. Total Cost of SVB Collapse to Deposit Insurance Fund: $20 Bn

by Wolf Richter • Mar 27, 2023 • 144 Comments

Even collapsed banks have lots of assets that the FDIC sells to cover the costs to the Fund. Signature Bank collapse costs the Fund only $2.5 billion

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