24-Hour Fitness is also considering bankruptcy … this according to CNBC Neiman Marcus, one of the largest retailers of its kind in America, has hit the mat and can’t get up in the wake of the coronavirus pandemic, and the chain is reportedly ready to file for bankruptcy. Neiman’s 43 stores all shut down during […]
Your favorite restaurant may not survive the COVID-19. One of the major shakeups that is coming is the destruction of the restaurant industry, which citing data from the National Restaurant Industry shows that in one month alone, restaurants have lost $25 billion dollars and is threatening trillions in real estate mortgages and commercial property. The […]
Since 2004, when David Chang helped to reconfigure the dining establishment’s ideas about what a great restaurant could be with Manhattan’s Momofuku Noodle Bar, he has opened more than a dozen restaurants around the world; hosted two seasons of his Netflix documentary series, “Ugly Delicious”; started a hit podcast, “The Dave Chang Show”; published the […]
The U.S. Postal Service (USPS) finished fiscal year 2018 nearly $4 billion in the red — a whopping 44 percent increase in losses from the previous year. This was despite a revenue increase of more than a billion dollars. Now the former alcoholic drink slinger Ocasio Cortez wants them to run like banks. Mike LaChance at American Lookout reported: […]
by JOHN HAYWARD UnitedHealth, America’s largest health insurance provider, says it will exit from most ObamaCare exchanges next year, citing more than $1 billion in losses. CEO Stephen Hemsley says his company “cannot continue to broadly serve the market created by the Affordable Care Act’s coverage expansion due partly to the higher risk that comes […]
Rogers Holdings Chairman Jim Rogers is certain that the U.S. economy will be in recession in the next 12 months. During an interview on Bloomberg TV with Guy Johnson, the famous investor said that there was a 100 percent probability that the U.S. economy would be in a downturn within one year. “It’s been seven years, eight […]
By Cliff Kincaid One topic of conversation in the Republican race for the White House has been whether President Obama has been incompetent, or actually knows what he’s doing. On the matter of Obama’s Patient Protection and Affordable Care Act, commonly known as the Affordable Care Act (ACA) and Obamacare, self-declared socialist Professor Gerald Friedman […]
The so-called “trustees” of the social security system issued their annual report last week and the stenographers of the financial press dutifully reported that the day of reckoning when the trust funds run dry has been put off another year—-until 2034. So take a breath and kick the can. That’s five Presidential elections away! Except […]
Greece should brace itself for some form of capital controls, say analysts at Credit Suisse. As Greece has closed the door on making a deal with its international creditors, we can expect urgent fiscal control measures to come in from Monday. Here’s more from a Credit Suisse note sent on Friday: “A “No deal” scenario […]
Health Law’s Impact Has Only Begun. The fourth Georgia hospital is closing its doors due to severe financial difficulties caused by Obamacare’s payment cuts for emergency services. The Lower Oconee Community Hospital is, for now, a critical access hospital in southeastern Georgia that holds 25 beds. The hospital is suffering from serious cash-flow problems, largely […]
