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Bankruptcies Expected to Skyrocket in the Months to Come

edited August 2020 in Off-Topic
https://businesswest.com/blog/bankruptcies-expected-to-skyrocket-in-the-months-to-come/


Bankruptcies Expected to Skyrocket in the Months to Come
Business West
Steve Weiss says the wave of bankruptcies that he and others in his line of work are ... J. Crew, Brooks Brothers, Gold's Gym, Neiman Marcus, JCPenney, Hertz, 24-Hour



Could be bad news out there

Of course I remembered many companies bottom up in 2009 10 and market still skyrocket upward

Comments

  • edited August 2020
    No question this will be a problem, but for the stock market the bigger question is whether the bankruptices are already expected ones or will some unexpected ones crop up? A company like JC Penny for instance was struggling for a long time. But if there is a surprise bankruptcy of any significant size, then the stock market will suffer.
  • What I found concerning, though not surprising, was the discussion of personal bankruptcies.

    It was widely reported yesterday that Walmart was seeing declines in spending as the various stimulants ended, or were spent down. Is Walmart likely in trouble. No.

    But as the article points out, small landlords that can't pay the mortgage may not be all that far behind people that can't pay the rent.
  • The SF Chronicle today ran an article regarding local landlords making major rent concessions in return for a one-year lease (instead of month-to-month).
  • Old_Joe said:

    The SF Chronicle today ran an article regarding local landlords making major rent concessions in return for a one-year lease (instead of month-to-month).

    At least to those renters that can still pay.

    How's the air quality from the fires?
  • Subject: Air Quality Alert - Red
    Date: Wed, 19 Aug 2020 20:29:56 +0000 (UTC)
    From: ALERTSF

    AlertSF is owned and operated by the City and County of San Francisco and powered by Everbridge, Inc.

    ALERTSF: Air Quality-Unhealthy: Active youth/adults/people w/respiratory diseases should avoid prolonged outdoor exertion.
  • Ashes and fine soot covering just about everything around the outside of our house. Heavy smell of smoke. And we're located west of Twin Peaks, if you know SF, where the air is usually very good due to the nearness of the ocean and the prevailing winds therefrom.

    (Cool! First time I've gotten to use "therefrom" in years.) :)
  • edited August 2020
    Old_Joe said:

    Ashes and fine soot covering just about everything around the outside of our house. Heavy smell of smoke. And we're located west of Twin Peaks, if you know SF, where the air is usually very good due to the nearness of the ocean and the prevailing winds therefrom.

    (Cool! First time I've gotten to use "therefrom" in years.) :)

    That's pretty bad if you're getting that where you are. The Chronicle is saying the smoke you're getting is from the CZU fire between between Pescadero and Santa Cruz.

    Worst I ever saw was the Oakland Hills fire, which is a drop in the bucket compared to what seems to be an annual event in the region now. That LNU fire above Vacaville looks like the biggest yet. I hope the rainy season arrives early this year.

    I suppose the "good news" is people heeding the call for voluntary electricity conservation measures.
  • Hi there WABAC- Yes, I remember the Oakland Hills fire very clearly. That one dropped actual burnt pieces of paper over the area. This morning it's completely gray out there- can't tell if it's smoke or overcast, but I suspect a combination of the two.

    Up at the weekend place in Guernville that fire complex isno within two miles of Rio Nido, and three or four miles of Guerneville. We'll be verylucky to get through this in one piece.

    Yes, people have been very good about heeding the call to conserve power- no blackouts since the one on Monday, I believe.

    Thanks for checking in.

    Stay safe (and, per rono) "Wear the damned mask!"-
    OJ
  • Stay safe (and, per rono) "Wear the damned mask!"-
    Always.
  • @OJ - it just pains me to watch and hear about these fires in my beloved old stomping grounds. Stay safe my man.
  • Thanks, Mark. If we lose the Guerneville place it will be very ironic, as the Russian River runs right through the end of the back yard. Could well happen- Guerneville burned more than once in the early 1900s. Back in the 1950s there was a fire in town and the damned firehouse burned down. Sigh...
  • edited August 2020
    The usual, Bankruptcies, unemployment, the economy, debt, rates and many others can't predict what the stock market will do next and can be off by months and years.
    The pandemic just accelerated things.
  • Sorry to hear Old Joe. I hate fire season! Please stay safe and healthy. c
  • @Old_Joe, stay safe. Many landscape in Oregon are changing too due to global warming. Wild fire is a constant hazard on eastern half of the state and the building codes are dated. Houses with cedar shake roof are common on this part of the country.
  • Thanks guys, So far so good. OJ
  • Good luck, OJ.
  • Sven said:

    @Old_Joe, stay safe. Many landscape in Oregon are changing too due to global warming. Wild fire is a constant hazard on eastern half of the state and the building codes are dated. Houses with cedar shake roof are common on this part of the country.

    Are you in eastern Oregon? Been there, and through there, many times.
  • Old_Joe said:

    Thanks, Mark. If we lose the Guerneville place it will be very ironic, as the Russian River runs right through the end of the back yard. Could well happen- Guerneville burned more than once in the early 1900s. Back in the 1950s there was a fire in town and the damned firehouse burned down. Sigh...

    I guess I'm kind of surprised you haven't been flooded out by now.

    Not much chance of the fire getting into The City. But when I think of where we used to live in Novato near the end of Arthur St., it was about a 1/4 mile to the Coast Range. And our house was nowhere near modern fire code ready.

    I'm reading The Chomical again, and checking the weather. Looks like the marine layer is providing some relief to the coastal areas. I hope that allows Cal Fire a chance to regroup.
  • @WABAC: More bad news... as if we needed that- Chron just now reporting that another dry lightning storm due over Northern CA Sunday thru Tuesday. We are well and truly screwed.
  • Old_Joe said:

    @WABAC: More bad news... as if we needed that- Chron just now reporting that another dry lightning storm due over Northern CA Sunday thru Tuesday. We are well and truly screwed.

    I saw that on the NOAA site. It totally sucks.

  • No, we live in Portland, OR and it is much wetter than the eastern half of the state. Columbia Gorge helps to bring in the marine climate. Above the mountain range where the eastern Oregon resides, it is more like a high desert climate. Along the coastline the climate resembles the Bay are (we absolutely love). Portland gets lots of rain and cloudy days. Rain gear makes everything enjoyable.

    You mentioned Phenoix and that is quite different climate than that of Pacific Northwest. I visited all the National Parks in southwest except Texas in different seasons. Mt favorite is the spring before Memorial holiday.
  • Sven said:

    No, we live in Portland, OR and it is much wetter than the eastern half of the state. Columbia Gorge helps to bring in the marine climate. Above the mountain range where the eastern Oregon resides, it is more like a high desert climate. Along the coastline the climate resembles the Bay are (we absolutely love). Portland gets lots of rain and cloudy days. Rain gear makes everything enjoyable.

    You mentioned Phenoix and that is quite different climate than that of Pacific Northwest. I visited all the National Parks in southwest except Texas in different seasons. Mt favorite is the spring before Memorial holiday.

    I regularly went to Portland, Seattle, LA, and Vancouver BC for a while during my second career when we were living in San Francisco/Marin.

    We spent some travel time on the west side before kids, when we would do things like snow camping to go x-country skiing. It's generally warmer on the west side during the winter.

    There was a funky old-fashioned spa not too far up the Columbia from Portland in those days. Men's side, women's side, and you'ld sit in an open room of ancient enameled iron bath tubs. Then they would wrap you in a sheet and give you a massage. The old-fashioned outfits they wore made you happy they didn't wrap you in a rubber sheet, or a straight jacket.

    Saw the Stonehenge WWI memorial to British war dead, and the attached museum, a couple of times. The museum is a little sister to the Legion of Honor Museum in San Francisco. Little sister got the hand me downs. Wikipedia describes the memorial differently than the way I remember it.

    But the east side is awesome country. We were camping near Baker City one time and happened to catch the Shriners doing their thing for the east-west high school football game. Been to the Malheur preserve. Driven past Steen's mountain multiple time. Closest we ever got was a trip to Frenchglen because it was the smallest dot in that corner on our Rand McNally Atlas. Must have been when we went to Malheur.

    We haven't got used to the Arizona deserts yet. Mainly because it's so bloody hot most of the time. However, the sky is awesome. We can see that show out the window.

  • Heat is something my body don't handle well. So I stay indoor and fully hydrated during the day when I visit that part of the country. It will get easier once you work out a routine for the high temperatures. Don't forget sunglass and a heat. You will do fine once you made the adjustment. One can get spoil living in the Bay area. The winter and spring season are quite reasonable and there are lots to see in Arizona. Have you try camping at Grand Canyon in winter or Havasupai Canyon ?
    https://youtube.com/watch?v=JN2oy_T_mFU
  • Sven said:

    Heat is something my body don't handle well. So I stay indoor and fully hydrated during the day when I visit that part of the country. It will get easier once you work out a routine for the high temperatures. Don't forget sunglass and a heat. You will do fine once you made the adjustment. One can get spoil living in the Bay area. The winter and spring season are quite reasonable and there are lots to see in Arizona. Have you try camping at Grand Canyon in winter or Havasupai Canyon ?
    https://youtube.com/watch?v=JN2oy_T_mFU

    I take sunglasses seriously. You quickly learn you don't have a choice. Glass is the better long term investment than any of the plastics. New old model Revo's can be found under 80 bucks on eBay. I have a pair of Randolph's that I used when we would go out before covid.

    I can't travel like I used to. The ox-bows on 17 leave me feeling like I've been in a NASA stress test. Tuscon, and areas south of there are easier for me to get to. They're higher, and cooler. But they're still desert. And my wife hates it. She's up north this weekend in the National Forest west of Flagstaff camping with a friend of ours that retired to Henderson.

    I can handle the heat until it gets to 110. Looking back on it I was a borderline hypothermia case for nearly 40 years in the Bay Area. So I can putter in the garden for 2-3 hours in the morning til around 12 or 1.

    I'm not a fan of the monsoon season. It's not a dry heat when the humidity goes over 25%. And they give me the kind of headaches I used to get when I was living in the midwest. That's one reason I've been yakking online so much the last few days. Can't get going to do what I would be doing normally. I'm going to see if I can be a good do bee today. Or at least talk about something besides my health. Sheesh.

  • @Sven A few years ago, we went waterfall watching in the Columbia River Gorge. We came in from the east and were quite surprised at how dry everything looked until you turn a corner and boom...everything looked like the Pacific Northwest.
  • Yes- that's a very abrupt and surprising transition.
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