"Lord & Taylor, filing for bankruptcy, plans to close two Boston-area stores; The stores in the Prudential Center and the Natick Mall will be closing" by Janelle Nanos Globe Staff, August 4, 2020
Retail casualties continue to mount as the pandemic shows no sign of slowing down in the United States. On Sunday, the parent company of Lord & Taylor announced that it would file for bankruptcy protection and close 19 stores in an effort to “maximize the value of its business.”
Two Massachusetts stores will be shuttered as a result: the store at the Prudential Center in Boston and the location at the Natick Mall. The Boylston Street store was the first in Massachusetts and opened in The Shops at Prudential Center in 1968. On its website, the company said that it is having store closing sales at both locations. Lord & Taylor stores will remain open at the Burlington Mall and South Shore Plaza.
In the filings, Lord & Taylor’s owner, the subscription clothing rental company Le Tote Inc., said that it was looking for buyers for both brands. In a note to customers on its website, the company said it was undergoing a “search for a new owner that believes in our legacy and values.”
It’s a disappointing turn of fortunes for the two brands, which had been hoping to create a symbiotic relationship between the old and new fashion eras, but COVID-19 served to stifle any potential in the partnership. Subscription clothing rental companies have taken a huge hit as quarantine mandates upended the need to rent work wardrobes or formal wear, and department stores, which were already slipping into obsolescence before COVID, have seen their relevance fade further amid the pandemic, as shoppers have turned increasingly to e-commerce to scratch the shopping itch — often ordering directly from a brand’s website or seeking out deals from off-price retailers.
Yeah, COVID has been the cover for the Great Reset and New Normal.
Late last month, analysts at UBS signaled the death knell for department stores.
“Brands should plan for a future that does not rely on department stores or malls to help generate traffic or drive growth,” a UBS analyst team led by Jay Sole wrote. “The ideal business model will be one where a brand can profitably sell directly to consumers either online or in-store.”
The malls are to be turned into COVID extermination camps.
--more--"
Related:
"Ralph Lauren Corp. is considering revamping its operating structure as it looks to avoid the fate of several retail rivals who’ve been unable to weather the unprecedented season for apparel. The company, which on Tuesday reported an adjusted loss per share for the first quarter that was worse than the average analyst estimate, said it’s evaluating its “long-term operating structure to align with our evolving strategic priorities,” with a focus on six main areas, including how it organizes its teams, its corporate office real estate footprint, where it sells its products and its overall portfolio of brands. In terms of store footprint, Ralph Lauren expects to open as many as 90 stores in 2020, with the vast majority in Asia, less than a dozen in Europe, and only few in the United States."
Also see:
"German apparel brand Hugo Boss has joined more than 100 similar companies from Europe and the United States in seeking financing support during the pandemic. Boss has drawn down part of its existing credit line, borrowed additional funds supported by government-owned bank KfW, and asked to waive financial covenants under its loan agreement, according to its second-quarter report on Tuesday. More than 20 firms including Columbia Sportswear Co., Next, and Tiffany & Co. have asked to waive or amend covenants under their loan agreements to give themselves more financial headroom."
Everybody wants a bailout.
Meanwhile, above the fold:
"Many retailers still waiting for more customers to come through the doors; Latest survey shows sales remain down by 50 percent or more at stores across the state" by Jon Chesto Globe Staff, August 4, 2020
To many Massachusetts merchants, government-imposed restrictions were once among the biggest obstacles during the pandemic, but now that stores are allowed to open with reasonable capacity limits, owners face a simpler but more bedeviling problem: The shoppers simply aren’t coming in the doors.
The f**king jerk considers 25-50% capacity "rea$onable," and what did they expect?
A$$hole!
The Retailers Association of Massachusetts just surveyed its members for the first time since June. More than 200 responded during the past four days, and the results aren’t pretty. More than 40 percent said sales from March through July shrank by at least half from the same period a year ago.
A similar number, perhaps not coincidentally, expects they’ll need to do more layoffs to balance the books.
It wasn’t supposed to be this way, not back in June. A broad swath of the retail industry had been shuttered by the Baker administration, to help beat back the spread of COVID-19. The disease was under control in Massachusetts, or so it appeared, and it was time to open back up. So-called “nonessential” retailers could let customers back in, starting on June 8. Maybe some kind of normalcy could return by Labor Day.
Actually, it is $uppo$ed to be thi$ way per the Rockefeller Lockstep and the Event 201 scenario simulations, so.....
Flash forward two months. No one expects anything resembling normalcy now. Thousands of local office workers are being told to stay home until 2021. Schools remain a big question mark. COVID numbers seem to be ticking upward in the state, and many shoppers remain hunkered down in their homes.
Retailers are stressing. Even a modest uptick in COVID numbers can make consumers more fearful.
It’s not all doom and gloom, though.
What an absolute piece of $hit is this guy.
About 20 percent of respondents said they expect revenue to be flat or up, year over year, during the pandemic. That compares to just 8 percent in early June. Nearly half the respondents to this poll fall under the “essential” category — drugstores, food markets, auto repair shops, and the like — and stayed open all spring, but the fact that more retailers say they are seeing sales stabilizing now than at the start of the reopening in June suggests that some of the “nonessential” businesses are rebounding as well.
At paltry levels, but they are "$tabilized."
Small-business owners are nothing if not optimistic. They have to be, in order to survive. Nearly 40 percent say they’re confident sales will recover to pre-COVID levels a year from now; however, a similar number say they will need to wait much longer for that magic moment to arrive.
The delu$ional "optimi$ts" won't be around then.
Of course, retail isn’t the only sector in crisis mode right now. The widespread concern about the economy’s health shows up in the recent business confidence polls by Associated Industries of Massachusetts: The group reported a notable drop in its confidence index on Tuesday, translating to five months in a row in negative territory.
If so, they shouldn't have thrown in with this $hit and they should pre$$ure the government to call an end to this fraud. The fact that they are NOT DOING THAT tells you all you need to know. They are IN ON THIS!
The big chains dominate the headlines about store closings: GameStop, Victoria’s Secret, Macy’s, Bed Bath & Beyond. The list goes on. Just this week, the owners of Men’s Wearhouse, Jos. A Bank, and Lord & Taylor tumbled into bankruptcy. More lease cancellations. More layoffs. More going-out-of-business sales.
It’s not all doom and gloom, though!
The deaths of mom-and-pop retailers? Those obituaries are harder to track, but these independents have an outsized impact on the characters of their communities: the local frame shop, the downtown toy store, the once-hip craft brewery.
Yeah, right, it's harder to track middle class mom-and-pops, sure.
Unfortunately, the retailers association survey is self-selecting. It doesn’t really indicate how many stores could be in danger of closing forever, or have already shut down for good. Those merchants have bigger things to worry about than another poll cluttering their inbox.
For Jon Hurst, the group’s indefatigable president, it can seem like an uphill battle, even in the best of times, as consumers and their dollars shift online and, often, out of state. While a recovery remains so elusive with each passing week, Hurst can’t help but wonder how many more of these struggling stores are going to survive.....
They are not, per the Great Reset plan!
--more--"
Ready for a tighter lockdown?
"What would trigger a second lockdown in Mass.? The state still hasn’t laid out clear guidelines" by Dasia Moore Globe Staff, August 4, 2020
As concern mounts over the possibility of a new surge of COVID-19 cases in Massachusetts, Governor Charlie Baker on Tuesday warned that rising infections and troubling public health metrics could stall reopening efforts, but as epidemiologists and doctors continued to sound alarms — some urging a return to more restrictive state guidelines on gatherings and businesses — Baker resisted laying out the state’s standards for reversing course on reopening. The state plan released in May identifies six key indicators guiding reopening, but it does not describe what specific set of conditions would trigger a reversal.
The Globe wants a complete lockdown based on the "possibility" of new cases.
I've f**king seen this movie before, just a few months ago!
When pressed for details on how the state would determine whether to impose such restrictions, Baker noted that Massachusetts has reached its goal of attaining and staying below a 5 percent test positivity rate — the threshold the World Health Organization recommended in May that governments reach before loosening strict springtime lockdowns. Baker did not cite other specific standards that might be earlier indicators of a need for new restrictions, but public health experts say the lack of clarity on reopening standards makes returning to an earlier shutdown phase — already a politically difficult decision — even more of an uphill battle.
Remember when it was about flattening curve and not overrunning the hospitals?
Since we have been such good sheeple the evil plot to remake the world continues, and thanks for denying us herd immunity for a "viru$" that has a 99.98% survival rate, a$$hole.
“If you had clear rules, then everybody would be on the same page on what would happen if the indicators reached a certain point. In the absence of those clear guidelines, it becomes much more of an ad hoc judgement call,” said Caroline Buckee, an associate professor of epidemiology at the Harvard T.H. Chan School of Public Health.
Setting and publicly communicating clear standards for health decisions is key to the success of any public health effort, Dr. Leana Wen, Baltimore’s former health commissioner, said in June.
“Decisions should be based on science and evidence, and having those metrics in advance ensures that those are the reasons, as opposed to political considerations,” said Wen, an emergency physician and public health professor at George Washington University.
“[Other countries] were very clear at the beginning that reopening was not an on and off switch, it was a dial. . . . I do not believe that this has been done well in the US. The American people have gotten the message instead that this is a one-way street.”
I've stopped listening to those f**ks, readers.
Related: Fauci discusses threats against his family
My advice to you is don't waste your time with that, just ignore the fucker!
Probably a bunch of self-serving, narrative-supporting, false flag fakery anyway.
Now, some Massachusetts epidemiologists say, the state appears to be headed the wrong way.
“Things are getting worse. Slowly,” Ashish Jha, the director of the Harvard Global Health Institute, tweeted Tuesday, citing the gradual growth of the the number of new cases and positivity rate. “We can choose not to act right now. We’ve all seen that movie before. It doesn’t end well.”
(Blog editor incredulously throws his hands in the air)
Others said the state must be prepared to act soon to prevent a second surge and ensure schools can safely open in the fall, even if that means returning to Phase 2 of the state’s reopening plan, when most indoor entertainment venues remained shut. Phase 3, which began on July 6 in most of the state, loosened restrictions on the sizes of gatherings, and opened gyms and fitness centers, movie theaters, museums, and more.
This is literally torture, and the small merchants above can say goodbye!
Time to start ignoring these f**kers, folks.
OPEN UP!
Baker focused Tuesday on the state’s initiatives designed to control the virus’s spread, including mandatory quarantines for most out-of-state travelers, free testing sites in higher-risk cities, and plans to expand rapid testing options.
Massachusetts has ramped up efforts to track COVID-19′s spread, including joining a new initiative meant to shorten the turnaround time on test results and enable the state to better track the spread. Baker, along with five other governors, signed a first-of-its-kind purchasing compact meant to pressure companies that make rapid-detection tests to quickly ramp up production.
That's odd because I was told he cut back on that!
LIED TO AGAIN!
The governors, three Republicans and three Democrats, say that other states and cities may join them and that talks have already begun with one of the two companies approved by the FDA to sell point-of-care antigen tests that can detect the virus in less than 30 minutes.
The state announced Tuesday that most travelers entering Massachusetts from Rhode Island will soon be ordered to quarantine for two weeks upon arrival unless they recently tested negative for COVID-19. The state Department of Public Health tweeted that, starting on Friday, Rhode Island will be removed from a list of eight low-risk states exempt from the travel order, citing “increases in both RI’s positive test rate and cases per 100,000.”
Related: Rhode Islanders find themselves unwelcome in nearby states
The ‘joke is on you,’ and maybe you could sue!
Baker said continued testing and analysis of the settings and behaviors resulting in new cases will be crucial to the state’s ability to prevent a resurgence of infections.
“Over the past several days, we’ve seen a modest uptick in the percentage of new positive cases, and we continue to closely monitor and analyze the data to determine the factors that are driving that,” he said. “If the data doesn’t support moving forward, as we have said many times, we won’t.”
Buckee, who first voiced concern over the lack of clear standards and protocols for a return to lockdown soon after Baker released his plan, said she believes it is already time to reverse reopening and return to Phase 2.
“Of course, nobody wants to go backwards, and politically, it’s challenging to ask people to return to a tighter lockdown,” she said Tuesday, “but I do think the absence of clear guidelines mean it’s even more politically difficult to make that decision,” but she said she is still optimistic that if Baker clearly states his thresholds for reopening, he can rally the public to act now and prevent further increases in transmission.
Like they care what we think!
If that were true, they would have never agreed to go along with this plannedemic $cam!
“Massachusetts has done a good job. People have taken responsibility . . . and I think most people would agree that we should be prioritizing safe school opening in the fall,” she said. “Most people would be amenable to going back to Phase 2, with the understanding that we’re doing this in a targeted way with a specific goal.”
Look at her stroke you like a good tyrant!
--more--"
Massachusetts Governor Charlie Baker on Tuesday warned that rising infections and troubling public health metrics could stall reopening efforts (David L. Ryan/Globe Staff).
That will be the look on his face when the mob hangs his ass.
Governor Charlie Baker (Nicolaus Czarnecki)
See: We don’t need another lockdown
Yet, according to Edelman, but we are going to get one anyway due to the second simulation with the deliberate release of a deadly pathogen this September.
Related:
In calm before the storm, hospitals prepare for second wave of COVID-19
Was today's lead feature and we didn't have a first wave, liars.
As bad as the spread of the coronavirus is, there’s reason to believe it will get worse
Dr. Jennifer Nuzzo, an epidemiologist and the senior scholar at the Johns Hopkins Center for Health Security whose column appears regularly in the Globe, says more than 80 percent of the states are reporting increased numbers of COVID-19 that are now reaching all-time highs.
Of course, John Hopkins ran the Event 201 simulation, so they she can f**k off.
Also see:
"Governor Charlie Baker signed a $16.53 billion interim budget on Tuesday that will keep state government operating through at least the end of October, but he rejected a firm deadline of Oct. 31 for the funding to expire and said the Legislature’s attempt to impose minimum spending requirements would “unduly” limit his authority to manage state spending over the next three months. The governor’s signature on the bulk of the spending bill ensures that the Legislature will not have to return until at least the fall to either debate and pass a fiscal 2021 spending bill, or approve another extension that would push decisions on new taxes, spending cuts or the use of reserves until after the elections. The Legislature has yet to even propose a budget for fiscal 2021 as it waits to better understand the fiscal impacts of the pandemic and learn if Congress will send additional aid to help bail states out of massive budget holes. While some states have passed budgets and plan to return to make adjustments, Beacon Hill has elected to wait until as much as a third of the fiscal year is over before committing to spending levels. Leaders did reach an agreement with the administration last week to promise level funding for local aid and schools to cities and towns for the year, which will eat up at least $6.41 billion of an eventual annual budget and shrink the size of the pie that will remain for legislators to find savings or make cuts (SHNS)."
Where is the money going to come from, and doesn't he have enough power as it is?
{@@##$$%%^^&&}
Almost time for lunch:
"Kristin Canty opened Woods Hill Pier 4 in the Seaport in November and had been looking forward to summer, but, “I’m nervous. We’re wondering if we could get shut down again,” she said. “We’re in a lot of debt, and it seriously hurt our cash flow. For my restaurants, it’s completely weather-dependent right now. That’s why we’re nervous about going into the fall.”
She should be, and can I get a burger and fries?
The Globe says this as good as it gets, but "for Bob Luz, president of the Massachusetts Restaurant Association, remaining optimistic is part of the job description. “If we get lucky and it’s not a terribly cold November, the dining experience” could continue outdoors, he said. Luz pointed out the continuing federal and state efforts to offer more relief to the industry, including another round of Paycheck Protection Program loans. “I do think there’s some more legislative help that will be coming,” he said, but Luz also acknowledged it may come too late for many owners, particularly given the public’s current comfort level with indoor dining, which remains low and has spurred industry efforts to change the narrative. Still, some are optimistic....."
You need to send him back!
Everything is a F**KING NARRATIVE THESE DAYS!
Btw, they aren't leaving you a tip:
"With the parties far apart on issues, House Speaker Nancy Pelosi, Democrat of California, was noncommittal on the timing in a midday MSNBC interview on Wednesday, saying: ‘‘I’m confident that we will have an agreement. The timing of it I can’t say because I don’t know, it just depends,’’ but White House chief of staff Mark Meadows suggested that if no deal was reached by week’s end, further talks would be pointless. ‘‘I’ve become extremely doubtful that we’ll be able to make a deal if it goes well beyond Friday,’’ Meadows told reporters Wednesday before the latest negotiating session with Pelosi, Senate minority leader Chuck Schumer, Democrat of New York, and Treasury Secretary Steven Mnuchin began. The lapsed unemployment benefit is a major sticking point in the talks. The enhanced unemployment benefit is one of multiple issues dividing the parties. Democrats’ starting point is a wide-ranging $3.4 trillion bill the House passed in May. Republicans say they cannot support a figure anywhere near that high, with Mnuchin calling it ‘‘just ridiculous’’ as he exited Tuesday’s negotiating session on Capitol Hill along with Meadows. Mnuchin and Meadows had been meeting with Pelosi and Schumer almost daily for more than a week, with the talks showing real progress Tuesday, when the negotiators set a timeline for making a deal and began trading offers. The Trump administration has backed off efforts from last week to force Democrats to accept a stopgap extension of unemployment benefits and a lapsed eviction moratorium. Democrats have continued to insist on a comprehensive bill. Senate majority leader Mitch McConnell, Republican of Kentucky, last week introduced a $1 trillion counteroffer, but it came after days of delays and has not attracted the support of many Senate Republicans, and Trump never endorsed it....."
She is blocking the unemployment bill, so she knows damn well when or if they will get anything!
What a detestable creature is Pelosi, and the fact is both parties are blaming the other to block what you need. Neither of them wants to pass it because this is all part of the Great Reset of our society along with the introduction of Soviet-style government!
The "debate" is all about the election, folks, and how they can get through another cycle before $hitting on us until the next one.
Maybe you should just order out for delivery:
"New York City icon Katz’s Delicatessen, the 132-year-old home of heaping pastrami sandwiches, is accustomed to serving thousands of customers per day, but social distancing measures have drastically changed how the restaurant does business. A drop in tourism — New York City hotel occupancy plunged to as low as 15 percent in late March — combined with an outflow of residents, has led to a major loss in business for Katz’s. The deli now brings in about 100 customers a day, compared with as many as 4,000 prior to the pandemic. That said, Katz’s has managed to keep all 200 of its employees on the payroll, thanks in part to its delivery business which ships delicacies like pastrami, latkes, soups, and mustard across the country. It has also set up outdoor dining for the first time in its history, and created a structured line within the restaurant to avoid crowding around the cash registers."
La Cucaracha! La Cucaracha!
You can look these over while you eat:
"US stock indexes drifted higher Tuesday as Wall Street’s big rally eased off the accelerator. The S&P 500 rose 11.90 points, or 0.4 percent, to 3,306.51 after flipping between small gains and losses throughout the day. It’s the mildest move for the index in two weeks. The Dow Jones industrial average climbed 164.07 points, or 0.6 percent, to 26,828.47, and the Nasdaq Composite added 38.37, or 0.4 percent, to close at another record, 10,941.17. Stock indexes are hanging at or close to their record highs after clawing back all or most of their sell-off from earlier in the year, and the S&P 500 is within 2.4 percent of its all-time high, set in February, but caution is still prevalent across other markets: Gold rose to another record Tuesday, while Treasury yields sank as investors sought safety. On the stock market, energy companies had the biggest gains after the price of oil rose, but two in five S&P 500 stocks were lower following a mixed set of earnings reports. On the winning end was Take-Two Interactive Software, up 5.9 percent. The video game maker reported a profit for the spring that was almost double year-earlier levels as customers stuck at home played “Grand Theft Auto” and other games. It also raised its sales forecast for its fiscal year, a notable move when many companies have been shy to give any kind of prediction given all the uncertainty created by the coronavirus pandemic.
$hithead Americans.
See: "Sony reported profit that outpaced estimates on strong demand for its gaming products, but offered a measured forecast for the fiscal year due to uncertainty from the coronavirus pandemic. The Japanese tech giant is preparing to launch the latest generation of its PlayStation gaming console this holiday season, which has undercut sales of existing hardware. Still, Sony anticipates strong sales for the PlayStation 5, recently asking suppliers to double production, and the last quarter made clear the coronavirus is fueling demand for games as many people are stuck at home."
Were are not "stuck," we have have been imprisoned, and why are you kids not out in the streets protesting?
On the opposite end was insurer American International Group. AIG fell 7.5 percent for one of the larger losses in the S&P 500, though it reported stronger results for the latest quarter than Wall Street expected. Some analysts cited several unusual items that clouded its report, such as COVID-related losses, which make it difficult to extrapolate how AIG’s profits will run from here. In Washington, meanwhile, negotiations on a big economic relief package are ongoing, but multiple obstacles remain; investors say a deal is crucial for propping up the economy. A weekly $600 in federal unemployment benefits has expired, threatening to crunch the finances of millions of out-of-work Americans. Recent data reports have shown an uptick in the number of workers filing for unemployment benefits after a resurgence of coronavirus counts pushed some states to reimpose restrictions on businesses. Economists expect a report on Friday to show that US employers added 1.8 million jobs last month, which would be welcome growth but also a slowdown from June. The yield on the 10-year Treasury note fell to 0.50 percent from 0.56 percent late Monday. It tends to move with investors’ expectations for the economy and inflation. The bond market was much earlier than the stock market to signal the coming economic disaster from the coronavirus pandemic. It has also remained much more cautious through the pandemic than the stock market has. “The dichotomy of low and falling bond yields with ebullient risk asset markets is confusing, and investors are becoming increasingly nervous as yields grind lower,” Northern Trust Wealth Management’s chief investment officer, Katie Nixon, said in a commentary. She said part of the drive lower in yields is worry that the economy may roll into a double-dip recession, which she does not expect. The Fed’s promises to keep short-term rates low and to buy reams of bonds are also helping to keep a lid on yields, which also helps push investors into stocks. Gold has been another investment that has moved strongly recently because of low interest rates and worries about the global economy....."
No need to worry:
"Wall Street’s big rally keeps rolling, with the S&P 500 rising for a fourth straight day Wednesday to sit just 1.7 percent below its record, echoing gains for stocks across Europe and Asia. If the US market has just a few more days like that, it will erase the last of the historic losses it’s taken since February because of the coronavirus pandemic and the recession it caused. The Nasdaq added 0.5 percent to set another record. Much of Wall Street’s focus this week has been on Washington, where Congress and White House officials are negotiating on more aid for an economy that’s shown some improvement but is still hobbling. Investors say such a package is crucial and needs to arrive quickly, with millions of Americans still out of work. Treasury Secretary Steven Mnuchin said late Tuesday that the two sides set a goal of reaching an agreement by the end of the week to permit a vote next week, though negotiators said the two sides remain far apart on key issues. The pressure on Washington to act quickly is mounting. Investors seem to be assuming that Congress will reach a deal sooner rather than later, as well as that the economy will continue to improve despite the pandemic, said Willie Delwiche, investment strategist at Baird. Investors are betting that the plunge in profits will prove to be only temporary and that earnings will recover as economies reopen and a vaccine for the new coronavirus hopefully gets developed to help the world get closer to normal. Shares of biotech company Novavax jumped 10.4 percent after it reported data on its vaccine candidate for COVID-19. Analysts cautioned not to over-interpret the data but called it encouraging. A better-than-expected reading on the nation’s services sector also added to the mixed picture on the economy. The services sector includes retail, health care and transportation, and it makes up the bulk of the US economy. It grew in July for the second straight month, according to a survey by the Institute for Supply Management, and accelerated when economists were expecting a slight slowdown. Even within that report, though, were seeds of concern as investors have continued to worry about the weak economy and as the Federal Reserve has unleashed massive amounts of stimulus....."
That "ma$$ive amount of $timuloot" went to the ruling cla$$, corporations, and banks, but remember, WE ARE ALL IN THI$ TOGETHER, right?
"US hiring slowed dramatically in July as coronavirus cases surged, ADP report says" by Tony Romm Washington Post, August 5, 2020
US businesses appeared to slow their hiring dramatically in July, adding only 167,000 new workers to their private payrolls — a steep drop from analysts’ expectations that could add new urgency to stalled congressional talks over another round of federal coronavirus aid.
The numbers reported Wednesday by ADP mark a significant departure from the more than 1 million jobs that some economists had predicted and a sharp falloff from hiring gains reported just a month prior, suggesting virtually no sector of the US economy has been untouched by the apparent new slowdown.
Except Big Tech, which is making a literal killing.
Why is anybody listening to pre$$ economists anyway?
They are ALWAYS WRONG and are slinging nothing but $hit!
Economists cautioned the new hiring data may offer an incomplete picture of the nation’s labor market. ADP on Wednesday also revised its numbers from June, finding employers added 4.3 million new jobs compared to the roughly 2.3 million the firm initially estimated.
PFFT!
You know what they say: figures lie and liars figure!
Still, ADP’s findings reflect a growing belief that recent economic improvements have been tempered as the country’s coronavirus outbreak gained new momentum in June and July. On Tuesday, the Federal Reserve Bank of St. Louis sounded the same alarms.
STILL!
President Trump on Tuesday suggested that some parts of the economy are snapping back quickly, such as the housing market, and he has also touted the stock market’s robust performance in recent months. Still, 20 million to 30 million Americans remain unemployed, and if companies halt rehiring, it could mean the recovery takes much longer than envisioned a few weeks ago.
A$$HOLE, and STILL!
Who is writing this slop?
As for CHUMP, it's plain he doesn't give a f**k about you, American citizen.
He cares about the MARKET!
F**k him!
The dour news arrived as Democrats and Republicans in Congress continue to war over the size and scope of the next coronavirus relief package. Lingering disagreements over the future of federal unemployment payments and relief to other cash-strapped workers, renters, businesses, and local governments have threatened to push negotiations into next week, lawmakers have said.
The relief packages will be never ending because once the economic de$truction is complete, you will be lockdown at home waiting for your UBI -- like the Soviet citizens did back in the day!
‘‘I am hoping this will light a fire under Congress,’’ said Martha Gimbel, senior manager of economic research at Schmidt Futures. ‘‘I think there was plenty of data before this that things were really bad, and it is frustrating for me it will take catastrophic economic numbers to move Congress.’’
Better head to Portland for that!
Nearly all of the job gains in July came in service-providing sectors, ADP reported, including education, health, leisure, and hospitality as some states relaxed restrictions in the weeks before coronavirus infections once again began to climb......
--more--"
Also see:
"Booking.com is laying off a quarter of its workforce — more than 4,000 people — with the global pandemic snuffing out travel. Layoffs will begin next month and run through the end of the year, according to parent company Booking Holdings Inc. Booking Holdings, based in Norwalk, Conn., also owns the restaurant reservation company OpenTable and Priceline.com. The number of room reserved at Booking.com during the first quarter of this year tumbled 43 percent, to 124 million. The number of people passing through US airport checkpoints is running about 70 percent lower than a year ago, according to figures from the Transportation Security Administration. Travel plunged about 95 percent by mid-April, then rose steadily until leveling off throughout July. More than 700,000 people were screened each of the last five days, through Monday, the first time that has happened since mid-March."
"BP slashed its dividend for the first time in a decade and set out new targets to accelerate its shift to greener energy after the coronavirus pandemic upended the oil business. The U-turn in its dividend policy was expected after European peer Royal Dutch Shell slashed its own payout in April. Big Oil’s generous dividends have long been its main attraction to shareholders, and the move — hastened by the virus but made inevitable by the transition to cleaner energy — redraws the company’s investment profile."
Even the oil companies are in on the $camdemic fraud!
"British lenders have offered a taste of how much the worst recession in centuries is going to cost. The bill’s already at 17.2 billion pounds ($22.4 billion). Write-offs at the country’s six biggest banks so far this year roughly equal Barclays’ current market value."
The worst recession in CENTURIES?
British regulators approve Amazon plan to buy a stake in Deliveroo
That will fix everything!
Amazon to launch in Sweden
EU regulators investigating Google’s plan to buy Fitbit
You will be walking wherever you go in the New World Order:
"Ford Motor said its chief executive, Jim Hackett, will retire Oct. 1, ending a three-year run in which the automaker has tried to streamline its operations and focus its business on electric cars, trucks, and SUVs with mixed success. Hackett, 65, will be succeeded by James D. Farley Jr., who had been named chief operating officer in February. “I am very grateful to Jim Hackett for all he has done to modernize Ford and prepare us to compete and win in the future,” said William Clay Ford Jr., Ford’s executive chairman. The company, he added, is becoming “much more nimble.” Hackett, a former chief executive of Steelcase, an office furniture manufacturer that is much smaller and less complex, was named to the top job at Ford in May 2017, as the company’s business was slumping. He promised to revitalize Ford’s operations and steer the company toward vehicles that would generate profits and invest in emerging technologies like electric and self-driving vehicles. The company is starting to introduce some of the models developed under Hackett, including a redesigned F-150 pickup truck and the Mustang Mach E, an electric SUV styled to resemble the storied sports car....."
Related:
Honda recalling more than 1.6 million minivans and SUVs
The problems include faulty backup camera displays, malfunctioning dashboard displays, and sliding doors that don’t latch properly.
Is there any car company out there these days that doesn't make pieces of crap?
Concord Coach Lines resuming service Aug. 16
$1.5 million raised to save Space Camp
There is money out there if you know the right people!
Blackstone buys 75 percent stake in Ancestry.com
That private equity giant now owns your family tree!
New owner of business magazine
Entrepreneur Dale Shadbegian has acquired the Cape & Plymouth Business monthly magazine as for first time, NYT digital revenue exceeds print -- thanks to the Samsung smart phones.
{@@##$$%%^^&&}
I will be ending this post where it began:
Is the NFL paying attention to the mistakes baseball is making?
Marlins CEO Derek Jeter was left to answer when some of his players didn't adhere to protocols, precipitating a coronavirus outbreak on the team (Lynne Sladky/Associated Press)
Who gives a $hit about $port$ anymore, and look at that damn fool!
