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.
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.
