San Francisco proclaims the image of being the smartest people in the room. Must be with human waste and used needles covering the streets. They live up to the image of being enlightened. To add insult to injury, the report from NBC Bay Area that 400 restaurants closed last year (2019). Many famous spots are now gone after decades in business. The reasons provided covered, increase in food cost, rent, the "High Cost" of San Francisco.
Fun to watch reality go out the door. Looking at the Venture Capital funding world, our friends at WeWorked really screwed it up for everyone in the business. The ramp up to Bubble 2.0 is longer and bigger than what happened leading up to 2000.
In the movie the Big Short, the renegade traders did one thing no one else did, look. While the hype of the market reaching record levels, things can't be better for the economy, record low unemployment, etc we live in an age where the information is readily accessible to everyone, yet are people really looking?
The recent employment numbers announced @ 145,000 new jobs. Remember par is 150,000 new jobs per month. Class 8 truck orders collapsed, train freight collapsed etc etc. But no one wants to hear bad news only good.
Thank you for sharing your talent over the years. Keep on rocking with your family on the other side.
Just over 4 weeks ago reported about Deans Dairy BK. Well add Borden to the list. They just BK'd today. Looks like they are following in the footsteps of Deans with DIP financing. What is the reason for the BK filing? According to CNN:
.....it cannot afford its debt load and its pension obligations.
Stopped by a Fry's Electronic store. Shelves, walls, departments were empty of people and productions. San Francisco Chronicle has a story. The company is denying any problems. The shelves on the other hand looks like a store in Venezuela or old Soviet Union.
2016 saw the fallout from Colin Kaepernick events. Now just over 3 years removed, where's the attendance at for the NFL. When Kaepernick started his work, the NFL peaked with its attendance at just shy of 17.8M spectators.
BMW is being investigated by the SEC for using shady tactics to boost their sales. You know you are successful when you can survive a government investigation as they know they will get paid by the target company. Not saying if BMW did anything wrong.
The spectacular failure of WeWork is dragging on Softbank as Softbank is having a hard time getting the financing in place to keep WeWork alive. Flash back that is your typical SiliValley Unicorn that is revolutionizing the world as we know it while not making money, not having a survivable business an at least this time the public market is not left holding the bag.