Skip to content
Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

Tag: nov 17 2020

Home nov 17 2020
Post

GOING DOWN, GOING BUST, GOING OUT

SOUTHWEST AIRLINES REPORTS SLOWDOWN. After seeing bookings rise in August through mid-October, ticket sales slowed recently, the carrier reported. Third-quarter revenues declined 65 percent year on year, with about 55 percent of available seats sold; the airline had forecast a 65- to 70-percent drop. Year-on-year revenues for November and December are likely to fall below...

Post

TOURISM INDUSTRY SLIDES BUT STOCKS RISE ANYWAY

Modest gains in tourism over the summer were reversed in August and September, according to Booking Holdings, an online travel booking site. Third-quarter hotel reservations fell 43 percent in the third quarter but plunged 70 percent the week ending 4 November, Bookings CEO Glen Fogel said to the Wall Street Journal. Winter’s drop in business will...

Post

EX-WELLS FARGO CEO SETTLES CASE FOR $2.5 MILLION

John Stumpf, former CEO of Wells Fargo Bank, has agreed to pay the U.S. Securities and Exchange Commission (SEC) $2.5 million to settle charges that he lied to investors about the bank’s retail operations as it was enmeshed in a scandal over fake accounts. The penalty resulted from charges of negligence rather than fraud, which...

Post

HEDGE FUND FOUNDER BETS BIG ON FUTURE DEFAULTS

Bill Ackman, Founder of the Pershing Square hedge fund, has again bet big in the futures market on companies not being able to pay their debts. The fund collected about $2.6 billion in profits from a similar strategy Ackman used last February before the economic shutdown began. He bought a package of large insurance policies...

Post

RESIDENTS FLEE NYC, SLASHING CITY TAX REVENUES

Again, we have been reporting about the enormous budget deficits that would continue to grow as politicians close down businesses and people flee big cities. As reported by the New York Post last week, more than 295,000 New York City residents have moved out of town since February, according to data from the U.S. Postal...

Post

CALIFORNIA “DECIMATING SMALL BUSINESSES,” SAYS DISNEY CEO

Deeming California governor Gavin Newsom’s shutdown rules “arbitrary,”  Disney CEO Robert Chapek called on the state to allow Disneyland to reopen. The company has reopened theme parks in Hong Kong, Orlando, Shanghai, and Tokyo following health and safety protocols that “are all science-based and have the support of labor unions representing 99 percent of our...

Post

COMMERCIAL REAL ESTATE VALUES PLUNGE

It comes as no surprise to Trend Journal subscribers. Since the COVID War broke out in February, we have been forecasting that hotels, shopping malls, and urban storefronts would be hard hit by draconian lockdown rules and the media’s 24/7 selling COVID Fear & Hysteria. Now, those sectors are losing market value by double digits....

Post

PRIVATE EQUITY GROWING IN INFLUENCE

Private equity firms ended 2019 with a record $2.5 trillion in cash on hand, according to Bain Capital, and have even more now, Manoj Mahenthiran, private equity chief at accounting firm PricewaterhouseCoopers, told Bloomberg. The pandemic and economic shutdown gave them a windfall. As the U.S. Federal Reserve and other central banks drove interest rates...