Bankruptcies, Business Failures, Layoffs, etc
- Thread starter Guard Dad
- Start date
Rite Aid is closing nearly 100 stores as part of its bankruptcy. See the list
Yeah but this one is not due to the economy but the Talcum powder cases. I have no sympathy for J&J as my mother in law got ovarian cancer from their talcum products, which was proven via tests done on the tumors that were removed from her when it was found. She deserves to get a chunk of their money. Kinda funny they still deny their talcum powder caused anything yet here they are trying to figure out the best way to settle the cases.
The Next Rite Aid? 7 Companies That Could File for Bankruptcy in 2023
The Next Rite Aid? 7 Companies That Could File for Bankruptcy in 2023
Bankruptcy predictions are happening at a far faster pace in 2023 than prior years. These seven companies could be next.
investorplace.com
The Sound Guy
Pursuit Driver
Big lots surprised me. All the startup electric auto companies, not so much. Who wants to pay $30,000+ for a car that parts may not be available for the next year?The Next Rite Aid? 7 Companies That Could File for Bankruptcy in 2023
The Next Rite Aid? 7 Companies That Could File for Bankruptcy in 2023
Bankruptcy predictions are happening at a far faster pace in 2023 than prior years. These seven companies could be next.
WeWork bankruptcy: One of the biggest startup failures of all time, and venture capitalists haven't learned a thing.
WeWork bankruptcy: One of the biggest startup failures of all time, and venture capitalists haven't learned a thing.
WeWork's financial decline, and likely bankruptcy, may have left some VC firms with losses. The industry hasn't learned a thing from the episode.
www.businessinsider.com
WeWork bankruptcy: One of the biggest startup failures of all time, and venture capitalists haven't learned a thing.
WeWork's financial decline, and likely bankruptcy, may have left some VC firms with losses. The industry hasn't learned a thing from the episode.
www.businessinsider.com
Target CEO says shoppers are pulling back, even on groceries
"WeWork has filed for Chapter 11 bankruptcy protection, marking a stunning fall for the office sharing company once seen as a Wall Street darling that promised to upend the way people went to work around the world."WeWork bankruptcy: One of the biggest startup failures of all time, and venture capitalists haven't learned a thing.
WeWork bankruptcy: One of the biggest startup failures of all time, and venture capitalists haven't learned a thing.
WeWork's financial decline, and likely bankruptcy, may have left some VC firms with losses. The industry hasn't learned a thing from the episode.
US in 'serious trouble,' financial world legend who predicted Lehman collapse warns
US in 'serious trouble,' financial world legend who predicted Lehman collapse warns
Rich Dad Company co-founder and author of Rich Dad Poor Dad Robert Kiyosaki discusses the country's alarming financial trouble as the government continues to print more money
www.foxbusiness.com
US in 'serious trouble,' financial world legend who predicted Lehman collapse warns
Rich Dad Company co-founder and author of Rich Dad Poor Dad Robert Kiyosaki discusses the country's alarming financial trouble as the government continues to print more money
www.foxbusiness.com
Jamie Dimon says to be prepared for recession
'We are near that inflection point': Billionaire Ray Dalio warns that America is now 'borrowing money to pay debt service' — cautions that debt will accelerate just to maintain spending
'We are near that inflection point': Billionaire Ray Dalio warns that America is now 'borrowing money to pay debt service' — cautions that debt will accelerate just to maintain spending
He added that America’s many internal conflicts aren't helping.
finance.yahoo.com
'We are near that inflection point': Billionaire Ray Dalio warns that America is now 'borrowing money to pay debt service' — cautions that debt will accelerate just to maintain spending
He added that America’s many internal conflicts aren't helping.
Spotify To Cut 17% Of Its Workforce In 3rd Layoff This Year
Spotify To Cut 17% Of Its Workforce In 3rd Layoff This Year
The music streaming platform Spotify has announced a third round of layoffs in 2023.
www.oann.com
Spotify To Cut 17% Of Its Workforce In 3rd Layoff This Year
The music streaming platform Spotify has announced a third round of layoffs in 2023.
www.oann.com
JPMorgan predicts a grim outlook for the stock market next year
JPMorgan predicts a grim outlook for the stock market next year
JPMorgan Chase analysts warned in a new note to clients that the stock market faces more pain in 2024, projecting the S&P 500 will fall 8% by year's end.
www.foxbusiness.com
The Sound Guy
Pursuit Driver
I think the answer of why there hasn't been one is the massive move by companies and people into 401K and IRA accounts. There is a MASSIVE amount of cash going into these accounts every year, keeping the demand up for stocks and bonds as an investment.
***
Americans held $10.2 trillion in all employer-based DC retirement plans on June 30, 2023, of which $7.2 trillion was held in 401(k) plans. In addition to 401(k) plans, at the end of the first quarter, $580 billion was held in other private-sector DC plans, $1.2 trillion in 403(b) plans, $420 billion in 457 plans, and $794 billion in the Federal Employees Retirement System’s Thrift Savings Plan (TSP). Mutual funds managed $4.5 trillion, or 62 percent, of assets held in 401(k) plans at the end of June 2023. With $2.6 trillion, equity funds were the most common type of funds held in 401(k) plans, followed by $1.3 trillion in hybrid funds, which include target date funds.
***
Then add in the IRAs:
***
IRAs held $13.0 trillion in assets at the end of the second quarter of 2023. Forty-two percent of IRA assets, or $5.5 trillion, was invested in mutual funds. With $3.1 trillion, equity funds were the most common type of funds held in IRAs, followed by $1.0 trillion in hybrid funds.
***
Release: Quarterly Retirement Market Data, Second Quarter 2023
Total US retirement assets were $35.4 trillion as of March 31, 2023, up 3.5 percent from December 31, 2022. Retirement assets accounted for 31 percent of all household financial assets in the United States at the end of March 2023.
www.ici.org
So a total of 23.2 Trillion dollars, that people want somewhere that will produce good returns and usually invest in mutual funds, i.e. stocks.
And more pouring in every week. Since many who have already retired had regular pension plans, the retirement funds have been growing.
However, it's going to be interesting to see what happens as the people my age are retiring and beginning to pull out money vs adding it. If the economy starts dropping, then as people lose their jobs or have to stop their 401K withholding to pay bills we may indeed see a HUGE correction as the flood of people pulling more from their accounts is not balanced by investments going in. In the last three years, the Net Contributions for 401(K) plans has gone negative, while the pension plan contributions have been negative for years. So there is more going out than coming in. A little recession could make that a flood all those that own that 17 trillion try to keep their value by selling off.
It's coming. Just might not be as soon as we think. But it will be big... I'm serious considering getting out now while it's high.
U.S. consumers will soon wake up to ‘out of control’ interest on their credit cards, economist says
U.S. consumers will soon wake up to ‘out of control’ interest on their credit cards, economist says
Real incomes are not rising enough to cover the increase in debt burdens, according to Carl Weinberg.
www.cnbc.com
U.S. consumers will soon wake up to ‘out of control’ interest on their credit cards, economist says
Real incomes are not rising enough to cover the increase in debt burdens, according to Carl Weinberg.