Sales of New Cars & Trucks Through October Fell by 2.4 Million Vehicles, to 1985 Levels. Back to the Future by Wolf Richter • Nov 4, 2020 • 102 Comments For the Ultimate No-Growth Industry: price increases and pushing consumers into more expensive trucks and SUVs.
For Stocks, Any Election Outcome is Now the Best Outcome, Disputed Election, Long Legal Mess, Split Government Without Stimulus, Whatever… by Wolf Richter • Nov 4, 2020 • 168 Comments This is funny in terms of stock-market “narratives” during these crazy times.
What Took so Long? After Years of Brick & Mortar Meltdown Punctuated by the Pandemic, Two Mall REITs File for Bankruptcy by Wolf Richter • Nov 2, 2020 • 152 Comments CBL and Pennsylvania Real Estate Investment Trust were both toast before the Pandemic. The banks are stuck.
What Oil Companies Face: The WTF-Collapse of Consumption of Gasoline & Jet Fuel from Long-Term Weakness by Wolf Richter • Nov 1, 2020 • 208 Comments Transportation fuel demand rose to where it had been in … 1997.
WeWork Forerunner IWG/Regus Restructures its Business, Unleashing Mayhem on Landlords and Investors by Nick Corbishley • Oct 29, 2020 • 24 Comments Regus’ U.S. subsidiary, RGN Holdings, has already filed for Chapter 11 bankruptcy.
My Random Walk Down Junk-Bond Minefield: How I Lost 77% after Buying DNR’s Unsecured Bonds at Rock-Bottom 8 Cents on the Dollar by David in Texas • Oct 28, 2020 • 86 Comments Here’s how I got walked through Denbury’s bankruptcy proceedings.
Unlocked Shareholder Value, so to Speak: Job Cuts at Boeing to Reach 30,000. Commercial Airplane Revenue -56%. $5 Billion Go Up in Flames in Q3, $22 Billion since 737 Max Fiasco. by Wolf Richter • Oct 28, 2020 • 119 Comments $43 billion incinerated on Share Buybacks since 2012 to manipulate up the share price would come in handy now. Shares -60% since June 2019.
Jingle Mail Haunts Commercial Mortgage-Backed Securities as Property Values Get Slashed Below Loan Amounts by Wolf Richter • Oct 26, 2020 • 125 Comments At the time of securitization into CMBS a few years ago, inflated collateral values led to soothingly low loan-to-value ratios. Then trouble hit.
How Fast Can a “Shortage” of Office Space Turn into a “Glut?” San Francisco Shows How Fast by Wolf Richter • Oct 25, 2020 • 104 Comments Commercial real estate is in turmoil, but San Francisco’s glut is dwarfed by the fiascos in Houston and Calgary.
Synchrony Financial Disclosed Radical Work-from-Home Plan, Layoffs, and “Office Footprint” Reduction by Wolf Richter • Oct 20, 2020 • 168 Comments Landlords and their lenders who’re still thinking work-from-home is just a blip will undergo a reckoning in due time.
