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.
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.
Now Everything Depends on US Stimulus, from Billionaires to China’s Manufacturers, as US National Debt Blows Out by Wolf Richter • Oct 7, 2020 • 181 Comments But consumers again paid down their credit cards; let’s be honest, that’s abuse of stimulus.
Twisted Bailout Economy: Chapter 11 Bankruptcies Surged, But Commercial Chapter 13 Bankruptcies Plunged. 420,000 Small Businesses Closed Quietly, Highest Rate Ever by Wolf Richter • Oct 6, 2020 • 176 Comments Stimulus and bailouts had a huge impact, for those that got them, and for those that didn’t.
Commercial Real Estate Office Sector Crushed by Work-from-Home, Tsunami of Supply in Q3: Manhattan, San Francisco, Houston, Chicago, Los Angeles by Wolf Richter • Oct 3, 2020 • 80 Comments “Sublease Pandemic?” Office leasing activity plunged or collapsed, depending on city, even as huge amounts of sublease space that companies no longer need got dumped on the market.
What Does the Fed See Heading at Big Banks? Blocks Share-Buybacks, Slaps on Dividend Caps Due to “Economic Uncertainty” and “Cushion Against Loan Losses” by Wolf Richter • Sep 30, 2020 • 78 Comments My Big-Four Bank Index already got crushed back to 2004 level.
“Giant 5 Stock Index” (AAPL, AMZN, GOOG, MSFT, FB) -16% from High, Apple -20%. And Rest of the Market? by Wolf Richter • Sep 18, 2020 • 70 Comments It might look a little bloody at the top, but it barely unwinds seven weeks of mind-boggling gains.
Who Bought the $3.3 Trillion Piled on the Incredibly Spiking US National Debt Since March? by Wolf Richter • Sep 17, 2020 • 171 Comments Trillions flying by so fast, it’s hard to even count them. But somebody had to buy these Treasury securities. And it wasn’t just the Fed. Here’s who.
“Remote Learning” Sinks Student-Housing CMBS, After Delinquencies Had Already Spiked in 2019 by Wolf Richter • Sep 14, 2020 • 78 Comments The formerly hot asset class was already troubled by a multiyear decline in student enrollment and a surge in upscale supply.
Subprime Auto-Loan Delinquencies, Loan Deferrals & Stimulus Curdle into Curious Phenomenon by Wolf Richter • Sep 13, 2020 • 136 Comments In the bizarre machinery of an economy that depends on consumer spending funded by stimulus and “extend and pretend.”
