Mass Layoffs

[Mark K]

It all depends on the commercial debt side of the equation at this point. Business investment or organic growth has been declining every quarter under Biden rule but deficit spending keeps the GDP numbers up. A lot of these little banks are going to need the bailout treatment after the Federal Reserve gets done with them.

I was looking over the annual report of a regional bank I am considering buying some stock in.

Its reserves for bad loans increased 400% for residential for FY 23 over 22, 300% for commercial loans, 200% for auto loans. I think they see something coming that some Pollyanna-types can't see.

 

[Fernando]

During Great Recession, there should have been more foreclosures with many properties banks had taken back at that time.
The banks somehow knew how to cook the books.
By not releasing all their foreclosured properties into the market, the real estate market did not crash as severely as it should.
I foresee banks will "fix" their books and not reflect the seriousness of their troubled loans and we will come out fine.

 

[Terrel L. Shields]

discuss major layoffs at the Los Angeles Times, Sports Illustrated potentially shutting down, media outlets losing audience and money after going woke​

 

[Carnivore]

Corporate entities are buying residential properties in large numbers. They then rent them out.

Most commissioners agreed they want to keep this conversation going.

Commissioner Mark Jerrell says he is concerned about how these corporations are purchasing most of their properties in the crescent of Mecklenburg County.

“There’s nothing illegal about what these corporations are doing, but it’s certainly not ethical,” he said. “Frankly this is disgusting. This is taking advantage of our most vulnerable in this community.”

Corporate investors are buying up properties across Mecklenburg County: What’s the solution?

According to data from Redfin, in the fourth quarter of 2021, 32.1% of homes purchased in Charlotte were bought by investors, with a median sales price of $305,000.

www.wbtv.com

What caught my eye above was the median Price of $300 K in Mecklenburg. That is very low. It means they are buying anything that lower income people would possibly buy but most often are looking for rental house to live in. In effect this makes it very hard for people to enjoy 1st home purchase for wealth accumulation. Minorities will suffer the most.

 

[ucbruin]

Why is it "unethical"....

And publications shutting down is nothing new....
They've been in a tailspin for years....

 

[Tim Hicks (Texas)]

Do they do a January jobs report?

 

[Terrel L. Shields]

Do they do a January jobs report?

Yep. should be out tomorrow or next Friday. If true to its racing form, the numbers will be inflated but the previous months will be revised downward.

 

[Terrel L. Shields]

Private payroll growth slowed to just 107,000 in January, below expectations, ADP reports. That came out today. The ADP report is not the BLS official jobs number (which includes part-time and people with 2 jobs are counted twice.)

 

[Charles West]

I was looking over the annual report of a regional bank I am considering buying some stock in.

Its reserves for bad loans increased 400% for residential for FY 23 over 22, 300% for commercial loans, 200% for auto loans. I think they see something coming that some Pollyanna-types can't see.

That's why you do your homework like you have. Good job.

 

[Dublin ohio]

More layoffs

UPS announces 12,000 job cuts, says package volume slipped last quarter

UPS reported more than a 7% decrease in daily package volume in its fourth quarter earnings report Tuesday morning.

www.cnbc.com