#Corporate bankruptcy

[youthchronical]

Planet Fitness enters 11th hour bid for bankrupt Blink Fitness

A Blink Fitness location in New York City. Bill Tompkins | Michael Ochs Archives | Getty Images Planet Fitness wants to acquire bankrupt budget-fitness chain Blink Holdings, according to court filings viewed by CNBC. Planet Fitness previously lost out in a bankruptcy auction against U.K.-based, privately held fitness chain PureGym. Now the U.S. chain, with a public market valuation of roughly…

[republicansaretheproblem]

[rejectingrepublicans]

[legionofpotatoes]

they took all the whimsy out of her :(

[pixlime]

Collecting these like talismans

[Link 1 (As of 9-14-23)- Link 2 ]

[tomorrowusa]

« Trump has never really understood the presidency. He came to the office in 2017 from the Trump Organization, far more a monarchy than a democracy. In his previous perch, he said what was going to happen and it happened. He chafed at the balance of powers in D.C. that allowed both Congress and the Supreme Court to weigh in on what he did. He also didn’t understand or didn’t accept that the nature of his role was temporary — that he was chosen as four-year steward of something bigger than himself. Trump treated the office and its trappings as his own, which culminated in his attempt to block Joe Biden from (rightfully) ascending to a presidency that Trump considered his own. »

— Philip Bump at the Washington Post (archived).

Some of Trump's gullible fans claim he is a business "genius". The fact is that he declared bankruptcy SIX times. He wasted most of the hundreds of millions of dollars given to him by his real estate developer daddy on stupid prestige projects which usually flopped.

Trump was no business genius, he only portrayed one on TV in The Apprentice. Being a TV star was his only notable business success.

The Trump Organization is not a corporation. The Donald never had to answer to a board of directors or shareholders. He basically did whatever he felt like; the predicable results were things like Trump Vitamins, Trump University, and Trump Steaks (well done with lots of ketchup).

While some people may be critical of corporations, they do cause CEOs to cooperate with others in the corporate structure. Trump in his company was always a loose cannon who did whatever he felt like without feedback or consultation. That is how he operates as president.

[myemuisemo]

It's not the consumers; it's the bad management

Welp, a second Joann bankruptcy is not unexpected. Stop telling me it's consumer spending, though: since Joann emerged from bankruptcy in May, the shelves at my local store have stayed empty. I can't spend on air!

Lower consumer spending was the issue with the first bankruptcy primarily because the private equity owner had piled on debt, under the assumption that consumer spending on crafts would keep growing at the high rate it had during the pandemic. If the company had used more prudent leverage, it would have survived.

All the way back to the 1980s, as far as I've been able to trace craft store bankruptcies, it's usually getting over-confident with debt that does them in.

My local Joann had turned off the heat in the store. Yes, I live in California, but a 45-degree store is like being in a refrigerator. It was unpleasant to shop in, but shopping in a store with little inventory goes fast. Can you imagine working all day in a refrigerator? I've been doing my best to raise a stink, but absolutely nobody cares: not Joann corporate (for obvious reasons), not the local newspaper that licks the feet of its advertisers, and not any local or state government agency.

The only reason to bother with a Going Out of Business sale is if they bring out deadstock from the back.

So now if I want basics like thread, I've got to go to Turlock (25 minutes in light traffic) because that's where the locally owned fabric store is. (No, I'm not going to Hobby Lobby. They are appalling. Walmart is less aggressively appalling, but that's 18 minutes and then the long trek through the store.)

The financial engineering excesses of the 1990s to today just keep coming up to roost.

[the-old-man-has-the-phonebox]

Hey so uhh the United States is likely about to lose its last large fabric retailer? 🫠

and I’m trying to sleep and not have an autistic meltdown bc Change Is Bad™ but also there is literally NO ALTERNATIVE. Hobby Lobby is a bunch of religious freaks (idgaf if you’re Christian for the record: if you know about why there’s no barcodes in the entire store, you know they’re collectively insane. Or even the artifact theft!). Michael’s has a singular aisle of fabric if you’re lucky and it’s usually shit anyway (NEVER FORGET WHAT THEY TOOK FROM US). Quilt shops are hard to come by, and even then often sell exclusively quilting fabric.

What the fuck do we do?!? I HAVE to see my fabric in person!!!

[thepowerisyouth]

Eh mental health is annoying. Buying & cooking cheap low-FODMAP diet is annoying. My best top note for now is I'm using this blog to practice writing. I need more practice in it. I only know business, accounting & economics stuff. Its stupid stuff. Theres too much actual fraud everywhere that its annoying

Also I use mobile so formatting sucks cause Nvidia GPUs, or Arch dont like tumblr site. Or tumblr site dont like tumbkr site

Also also I 100,000% support all my fellow ones-and-zeros and their identity. Everyone is welcome here.

Except transphobes/zionist/long list of others but you get it. I'll help harrass any of those types endlessly if someone wants to tag me, and bring me in on an argument like that friend you call for backup with fights

Im unhinged so who's to say exactly what will end up here but this is also a completely public blog to me friends, family, hell, even acquaintances i dont give a fuc.

Blog should be expected to be roughly as child-friendly as simpsons or bobs burgers. But also boring like a civics/economics lesson sometimes. Yay

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I (and my husband) am ex mormon. Its a weird thing. Look into it if you havent recently. Realllllyyyy look into. Takes time to figure it all out in this fuckin fucked up world.

I just moved a year ago. Didnt watch the US stock market as much as I normally do. Had my first snowstorm 10 weeks ago, that was.. fun to handle while ill prepared. About 6 weeks ago I was hopping back on the market and notice its a huge tech bubble about to pop and all the conditions Ive been warned about my whole career imply this is not good. Just took a little more thinking & digging and I'm a little too confident to stop talking about it now.

(Oh I'm also care-free as fuc so I dont really read or desire to change past posts more than lil-nitpicks. More informative for the reader & myself-in-the-future-reading that way)

And I'm not kidding I do love feedback & questions. Its a very public blog tho so I get that part for sure.

If you search "life story" in my tags I had that pinned for a min Im just moving shit around rn

Being poor sucks. Will write more on that later.

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First of all-- the exact timeline of an "economic shock" is literal insanity. Dont worry about the exact timing of any of this-- just know its doomed to happen soon.

Here are some effects I predict of this upcoming economic downturn

If anyone comes across any sources for these events that support my arguments please feel free to add in comments, reblogs, etc.

This concise list is mainly for my own reference, but it would be great to add to it if any one has something to add!

0.5. US Stock market collapse-- I have no desire to try and predict this one exactly. Too many conspiracies are actually correct about this big guy. Lets just say 7 US Tech stocks are worth 25% of the entire worlds market, roughly. "Too big to fail"-- I believe is the phrase

1. Corporate (slightly later will be residential by extension) real estate crisis: currently way too overvalued. Most of the houses, land, & urban corporate property we see could stand to decrease by about 60-90% from its current price.

2. Bankruptcy crisis: similar to the after-effects of the 70s inflation-- we can expect to see a huge wave of bankruptcies affecting a variety of business: from the micro-self employed; to the small business with leased buildings; to the largest corporations who commit massive accounting fraud & hope to escape accountability in time

3. Bank runs-- there is an extremely high overreliance on the Federal Reserve, who does not have good control over this situation. Once it becomes clear that there is a crisis (we call this a catalyst event)-- bank runs for physical cash are a surety. Hard to say how long a crisis like this might last. I should ask my siblings who lived near the SVB bank crisis hotspot (but those were rich fucks they do their "bank runs" over the phone)

3.5. Global currency collapse, which takes effect in every single local, state, & national economy at slightly different times. This means prices lower. Much lower. But takes time

4. Whatever the fuck the geopolitics is gonna do???. Its weird. You got Russia wanting to invade Europe? (Look at global economic forum 2024) Trump wants to let them. Biden wants to be an establishment corporate ass. North Korea has changed its #1 public enemy to South Korea (dont remember my source but it was a couple months ago). USA is stationing more troops in Taiwan, but probably only because of semiconductor technology?

The scope of our global financial woes are larger than can be explained in any of our lifetimes. Its much, much closer to pre-revolution France or the late 1920s. Big change is coming. Itll be soon

5. More to come

[nando161mando]

The beginning of the end for corporate greed.

[youthchronical]

Spirit Airlines extends debt refinancing deadline hours before expiration

A Spirit Airlines aircraft undergoes operations in preparation for departure at the Austin-Bergstrom International Airport in Austin, Texas, on Feb. 12, 2024. Brandon Bell | Getty Images Spirit Airlines on Friday said it reached an agreement with its credit card processor to again extended a debt refinancing timeline to December, hours before it was set to hit its deadline. Spirit said in a…

[equicorplegal]

Equi Corp Legal has the best lawyers in Delhi NCR

[sky-and-sometimes-others]

I used to work at a department store that no longer exists, and we always had coupons under the counter in case someone said 'oh no, I forgot my coupons at home'. But we were allowed (lowkey encouraged by the managers) to say 'and did you want to use a coupon today?' and then when the person goes 'oh, there are coupons?' say, LOUDLY 'oh you forgot them at home right? I have one to use if you forgot yours'.

And nine times out of ten they would catch on and go 'yes please, I can't believe I left them at home'.

Here is a skill that many of us are going to need for survival: how to tell if someone is offering to let you lie.

The tip-off phrase is "If [circumstance] was true, then we/I could do [helpful thing.]" This is not a guarantee that the person is offering, but it should tell you "I am being informed of a way to improve things."

Your confirmation phrase is "What documentation would that require?" This is essentially asking them "if people come asking me to prove this, will I be able to? Or will they not come at all?"

The answer you are hoping for with the confirmation phrase is "Just tell me if it's true, and I'll put it on the form." Note that this is not a direct instruction to lie, because they can't tell you that.

If they didn't mean to extend an offer to lie or this is a situation where they can't, then they'll list off something like your paystubs or your birth certificate. Your response back in that case is "Thanks, I'll tell my friends who qualify." This clears you of any concerns that you may have been considering lying.

The more complex answer is when they answer by giving you a form on the spot. Your job, in this case, is to scan the form and see if what they are asking you can be meaningfully verified by an official source.

Things that can be verified by an official source include, but are not limited to, your age, legal sex, income, veteran status, and place of residence. It's not generally a good idea to lie about these on official documents.

Be smart, and be practical. Do what you need to in order to stay alive, and keep an ear out for the people offering to help you do so.

[immaculatasknight]

The servile corporate media

[peaceresource]

American Bankruptcy

If the government sold all the gold and all the land it owns, it wouldn’t raise enough money to pay for even two percent of its obligations.

America is bankrupt today. https://youtu.be/4fk2prKnYnI?list=RD4fk2prKnYnI B. B. King – The Thrill Is Gone (Live at Montreux 1993) “The U.S. national debt stands at $35.3 trillion — and continues to rise. It’s not just the staggering size of the national debt that’s concerning, but the alarming rate at which it continues to grow due to the deficit. In fiscal year 2024, the federal government…

[tenth-sentence]

While the Comp debacle was being played out, AGC's mainstream business had been running satisfactorily but profits were adversely affected by the rise of bankruptcies.

"Westpac: The Bank That Broke the Bank" - Edna Carew