It's the economy, stupid! (Finance-related news)

[6souls]

https://finance.yahoo.com/news/disne...l?guccounter=1

Disney to layoff 32k in 2021.

Walt Disney Co said on Wednesday it would lay off about 32,000 workers, primarily at its theme parks, an increase from the 28,000 it announced in September, as the company struggles with limited customers due to the coronavirus pandemic.

The layoffs will be in the first half of 2021, the company said in a filing with the Securities and Exchange Commission.

[Outlaw]

Guitar Center filed for Chapter 11 bankruptcy the other day.

Sent from my SM-A505U1 using Tapatalk

[Day]

not even remotely surprising if you've been in one recently

[Botosi]

not even remotely surprising if you've been in one ever

**

[Krandor]

I mean if you really need some new strings right then and there you can probably find one nearby.

[kuronosan]

not even remotely surprising if you've been in one recently

I haven't, which is why it's not surprising.

[Day]

thats dope bro

[6souls]

https://twitter.com/AP/status/1333888114591457281

[6souls]

712k new unemployment claims

[Kaslo]

But that Dow tho

[Milkster]

https://twitter.com/MikeKofiA/status...101030912?s=19

[kuronosan]

It's also what most intelligent people are aware of.

Wait for the next groundbreaking study that shows antibiotics help fight infections.

[6souls]

https://twitter.com/AP/status/1334855386579529730

[archibaldcrane]

Dystopia, corporate-executive edition (thread)

https://twitter.com/RobinWigg/status...152081920?s=19

[Kaslo]

Isn't this how cyberpunk starts?

[AoE]

https://twitter.com/benjancewicz/sta...684341249?s=19

https://www.opb.org/article/2020/12/...ction-arrests/

According to a website for the North Portland home, the home was foreclosed on in 2018. The Kinney family, who had lived in the home for 65 years, said they paid their mortgage on time and challenged a foreclosure stemming from a web of complex maneuverings used by banks to buy and sell mortgages. The system, known as the mortgage electronic registration system, has been the target of a litany of lawsuits at the state and county level across the country, including a $160 million lawsuit brought by Multnomah County.

Court of Oregon last year, the family appealed to the Ninth Circuit Court, which denied their petition. Last month, the family filed a writ of certiorari to the U.S. Supreme Court, a formal request for the court to review the lower court’s decision.

A Multnomah County Judge authorized the Kinney family eviction in September. Since then, activists have worked to put up a “24/7 eviction blockade” around the home, which has come to be known as the “Red House on Mississippi.” An online fundraiser for the group has raised more than $40,000.

[archibaldcrane]

Jfc
https://twitter.com/LHSummers/status...275376656?s=19

[6souls]

https://twitter.com/AP/status/1337029800662282240

Over 100k more than what was expected.

[6souls]

https://www.bbc.com/news/business-55279649

AMC Theaters likely to go under next year if funding isn't secured.

AMC Entertainment Holdings, the world's largest movie theatre operator, has secured $100m (£76m) in emergency funds - but warned the money will only help it through another month.

The firm, owner of the UK's Odeon Cinemas, said attendance has dropped 92% in the US and 86% internationally.

It is burning through $125m a month as concerns about Covid-19 shut some cinemas and keep audiences away.

AMC said to remain "viable" through 2021 it would need to raise at least $750m - and possibly more.

"Our current cash burn rates are not sustainable," it said.

The $100m emergency loan comes from Mudrick Capital Management, a US-based investor focused on distressed debt. The company already holds some of AMC's roughly $5.5bn in debt, $100m of which Mudrick will convert into company shares as part of the deal.

[archibaldcrane]

New stimulus negotiations are looking at $300/week UI boost+extension and $600-700 stimulus checks (unclear about children).

https://www.washingtonpost.com/us-po....co/jkifrOAc3x