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.
Trucking, Container Carriers, FedEx, UPS, Other Freight Firms Warn of “Capacity Shortage,” Expect Americans to Keep Splurging Despite Jobs Crisis by Wolf Richter • Oct 19, 2020 • 134 Comments Better produce a big-fat stimulus bill pronto and keep eviction bans and forbearance going, or else these companies will face economic reality.
Worst Recovery Ever: To Soothe Investor Pain, Government Agency TSA Hypes Airline Stocks in Chilling PR Stunt by Wolf Richter • Oct 19, 2020 • 147 Comments What the TSA said in its PR stunt and what it forgot to say.
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.
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.
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.
The Big Boys Are Back: Financializing Single-Family Houses by Wolf Richter • Oct 8, 2020 • 87 Comments As after the last crisis, fueled by ultra-cheap money, they’re taking financialization of the housing market to the next level (transcript of my podcast).
