The State of American Restaurants, by City, November Update by Wolf Richter • Nov 2, 2020 • 178 Comments “Seated diners” get scarcer again as new Covid cases surge.
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.
High Times in the Plague Year: Booze & Cannabis Retailers Shine by John McNellis • Oct 31, 2020 • 98 Comments Landlords already know this: People are getting more toasted than Wonder Bread.
Do We Really Need More Stimulus to Print More Millionaires & Billionaires, Enrich Fraudsters, Balloon the Trade Deficit? Consumer Data Says, “No We Don’t” by Wolf Richter • Oct 30, 2020 • 203 Comments People who need support, should get support. As for the rest? On my soapbox, wildly wagging consumer income and spending data.
I’m in Awe of How Fast Rents Plunge in San Francisco, New York, Boston, Los Angeles, Other Expensive Cities. Rents Decline Even in Houston & Dallas. National Average Turns Negative by Wolf Richter • Oct 30, 2020 • 140 Comments Work-from-anywhere, unemployment crisis, oil bust, people chasing a cheaper less crowded place to live, the land rush to buy homes.
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.
No, GDP Didn’t Jump “33.1%” in Q3, But 7.4%, after Plunging 9% in Q2: Time to Kill “Annualized” Growth Rates. Imports, Powered by Stimulus, Dragged on GDP by Wolf Richter • Oct 29, 2020 • 67 Comments GDP back to Q1 2018. Worst ever “net exports.” The decline in government spending was also a drag. “GDP per Capita” bounced back only to 2017 level.
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.
Americans Are Super-Gloomy About Holiday Spending, But Industry Ramps Up for Blockbuster Christmas by Wolf Richter • Oct 27, 2020 • 183 Comments Something is afoot here. And someone is going to be wrong.
