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Business, Economics, and Taxes: Capitalism. Yay? >=(

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Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

Another 2.4 Million filed their initial jobless claims last week. States are still going through their backlog. So that puts us at:
March 1-7 = 211,000 initial claims added to unemployment
March 8-14 = 280,000
March 15-21 = 3.3 Mil
March 22-28 = 6.6 Mil
March 29-April 4 = 6.6 Mil
April 5-11 = 5.3 Mil
April 12-18 = 4.4 Mil
April 19-25 = 3.8 Mil
April 26-May 2 = 3.2 Mil
May 3-9 = 3.0 Mil
May 10-16 = 2.4 Mil
Click to expand...
Total = 39.1 Million added since March 1st, 38.6 relative to COVID-19 shutdowns.

The four week rolling average of continuing claims hovers around 22 Million currently.
 
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Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

aparch said:
Hertz Car Rental is the latest company to file for bankruptcy protection.


Is it just me, or in this wave of bankruptcies are companies that were basically hanging on for dear life anyway just using COVID-19 as the excuse to cut the excess off: write off debt and shed payroll/expenses?
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Absolutely. and has been mentioned before around here it is also going to be the excuse for lowering wages as things open up.
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

aparch said:
Hertz Car Rental is the latest company to file for bankruptcy protection.


Is it just me, or in this wave of bankruptcies are companies that were basically hanging on for dear life anyway just using COVID-19 as the excuse to cut the excess off: write off debt and shed payroll/expenses?
Click to expand...

Yes. Hertz was already getting shanked by firms encouraging their biz travelers to use Uber/Lyft instead. I rarely rent when I travel for work.
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

Deutsche Gopher Fan said:
And as a business traveler why rent a car when major cities wanna charge 50/night for parking at hotels
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Plus, there are many cities you just do not want to bother trying to drive around in, and it's less of a potential liability for the firm if you don't.

Hertz has treated me very well on the occasions when I do rent though. The fleet is always super-clean, usually new, and upgrades are frequent (Can't imagine why they're bleeding money :D). They're the only reason I'm able to say I've driven the fully-loaded/big block versions all three current pony cars (Camaro, Mustang, Challenger).
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

Hertz kept trying to give me a mustang every Monday. In Boston. In the winter.
Eff them. I moved to national
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

Boston is one of the cities where I would use rideshare or take the T over renting. There's no logic to those street layouts or traffic patterns.
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

The Rube said:
Not surprised. I have 2 Zoom "meetings" with friends per week, and I'm just a schmo. Add in legit business meetings, others using it during shutdowns, etc....Easy to navigate, also.
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I have been Zooming for work and it's fr-ckin' great.
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

<blockquote class="twitter-tweet"><p lang="en" dir="ltr">White House adviser Kevin Hassett: "Our human capital stock is ready to go back to work." <a href="https://twitter.com/hashtag/HumanCapitalStock?src=hash&ref_src=twsrc%5Etfw">#HumanCapitalStock</a> <a href="https://t.co/Yl9KwJf6KP">pic.twitter.com/Yl9KwJf6KP</a></p>— Aaron Rupar (@atrupar) <a href="https://twitter.com/atrupar/status/1264996588834996226?ref_src=twsrc%5Etfw">May 25, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 
Deutsche Gopher Fan said:
<blockquote class="twitter-tweet"><p lang="en" dir="ltr">White House adviser Kevin Hassett: "Our human capital stock is ready to go back to work." <a href="https://twitter.com/hashtag/HumanCapitalStock?src=hash&ref_src=twsrc%5Etfw">#HumanCapitalStock</a> <a href="https://t.co/Yl9KwJf6KP">pic.twitter.com/Yl9KwJf6KP</a></p>— Aaron Rupar (@atrupar) <a href="https://twitter.com/atrupar/status/1264996588834996226?ref_src=twsrc%5Etfw">May 25, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Click to expand...

Numbers on a spreadsheet. That's all they are.
 
Re: Business, Economics, and Taxes: Capitalism. Yay? >=(

Deutsche Gopher Fan said:
<blockquote class="twitter-tweet"><p lang="en" dir="ltr">White House adviser Kevin Hassett: "Our human capital stock is ready to go back to work." <a href="https://twitter.com/hashtag/HumanCapitalStock?src=hash&ref_src=twsrc%5Etfw">#HumanCapitalStock</a> <a href="https://t.co/Yl9KwJf6KP">pic.twitter.com/Yl9KwJf6KP</a></p>— Aaron Rupar (@atrupar) <a href="https://twitter.com/atrupar/status/1264996588834996226?ref_src=twsrc%5Etfw">May 25, 2020</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
Click to expand...
His head is gonna look wonderful in a guillotine...
 
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