Bankruptcies, Business Failures, Layoffs, etc

Guard Dad said:

The inventor of the market's most famous recession indicator is confident the inverted yield curve is accurately calling a slowdown in 2024​


www.businessinsider.com

The inventor of the market's most famous recession indicator is confident the inverted yield curve is accurately calling a slowdown in 2024

Campbell Harvey's famous inverted yield curve indicator has preceded every recession for the last 55 years.
www.businessinsider.com www.businessinsider.com
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Most people have no idea what that means. I’m actually surprised we haven’t hit a wall yet. Guess it just takes more time.
 
Guard Dad said:

The housing market is in its worst slump since 1995. NAR says the ‘world was much different’ then—here’s how​


www.aol.com

The housing market is in its worst slump since 1995. NAR says the ‘world was much different’ then—here’s how

“2023 may well have the unique distinction of being incomparable and, hopefully, quickly a distant memory,” says First American's Mark Fleming.
www.aol.com www.aol.com
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What dream world are they living in? Everything STOPPED in 2008 with the financial crisis. I don't even remember 1995 being an issue.
 
Guard Dad said:

Georgia-based trucking company files for bankruptcy​

​

www.freightwaves.com

Georgia-based trucking company files for bankruptcy

A Georgia-based trucking company, Newsome Trucking, which has 60 drivers and 33 power units, recently filed for bankruptcy protection.
www.freightwaves.com www.freightwaves.com

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I'm very concerned many more trucking companies and freight brokerages will be in trouble soon. It's ugly in the industry right now, at least the worst I've remember in the last 29 years.
 
Eddie's Trick Shop Marietta


It's with a heavy heart we can confirm the rumors are true, after 46 years we are closing our doors. Come take advantage of our closing sale. Mascots on sale from $100-$200, previous high end rentals $100 and EVERYTHING else is 60% off. Like everything else this sale won't last long, so come take advantage of what made out store one of a kind for so many years. Thank you all for your support over the years!
 
Guard Dad said:
Eddie's Trick Shop Marietta


It's with a heavy heart we can confirm the rumors are true, after 46 years we are closing our doors. Come take advantage of our closing sale. Mascots on sale from $100-$200, previous high end rentals $100 and EVERYTHING else is 60% off. Like everything else this sale won't last long, so come take advantage of what made out store one of a kind for so many years. Thank you all for your support over the years!
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Here's a news article

www.wsbtv.com

Beloved magic, costume shop closing its doors after nearly 50 years on the Marietta Square

Eddie's Trick Shop opened in 1978 as a small magic and joke shop and quickly grew into a staple of the community.
www.wsbtv.com www.wsbtv.com
 
Banking Crisis building -- don't see a lot of this in the headlines

Banks as far apart as New York, Tokyo and Zurich have reported mounting losses on lending to the troubled commercial property sector in recent days. The renewed turmoil comes almost a year on from a banking crisis that led to the collapse of three US regional lenders and the emergency rescue of Credit Suisse.

On Wednesday, New York Community Bancorp attempted to reassure investors that it has enough cash to stay afloat after the stock shed about 60% of its value over the past eight days and ratings agency Moody’s downgraded the bank’s credit grade to junk.

Last week, the troubled US regional lender reported a surprise $252 million loss for the fourth quarter, a big chunk of which was tied to loans for office buildings. It also set aside $552 million in the quarter to absorb potential losses on loans, up sharply from $62 million in the previous quarter.

 
The Sound Guy said:
Banking Crisis building -- don't see a lot of this in the headlines

Banks as far apart as New York, Tokyo and Zurich have reported mounting losses on lending to the troubled commercial property sector in recent days. The renewed turmoil comes almost a year on from a banking crisis that led to the collapse of three US regional lenders and the emergency rescue of Credit Suisse.

On Wednesday, New York Community Bancorp attempted to reassure investors that it has enough cash to stay afloat after the stock shed about 60% of its value over the past eight days and ratings agency Moody’s downgraded the bank’s credit grade to junk.

Last week, the troubled US regional lender reported a surprise $252 million loss for the fourth quarter, a big chunk of which was tied to loans for office buildings. It also set aside $552 million in the quarter to absorb potential losses on loans, up sharply from $62 million in the previous quarter.

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Yep, knew it was coming. I got out of both businesses at the right time.
 
Been waiting for it to hit the headlines. The few recent bank failures were just the beginning.

Hint: it’s how the CBDC system will be implemented. Not necessarily through the FED but through the handful of “too big to fail” banks.
 
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