Diamond Offshore Files For Bankruptcy
• https://www.zerohedge.com, by Tyler DurdenOnce upon a time, it was the most admired offshore drilling company in the US, and a perennial LBO candidate due to its rock-solid cashflows.
Contents Pages by Subject
Business/ Commerce
US Food Supply Controlled by Chinese Billionaire Shuts Down
• https://gunningforfreedom.comSmithfield Foods is one of the primary pork producers in the United States but like so many of our major companies, they are owned by China. Their operations are located in South Dakota but they were recently forced to shut down because of the COVID-
GM Suspends Dividend, Stock Buyback Program To Preserve Cash
• https://www.zerohedge.com by Tyler DurdenIn an attempt to preserve its dwindling cash as the economy remains paralyzed, General Motors announced that it has suspended its cash dividend of $1.52/share and share repurchase program while taking "other significant austerity" measures to preserv
Richard Branson 'in race to find buyer' for Virgin Atlantic
• JimmysPostSir Richard Branson is looking to sell Virgin Atlantic before the end of May after he failed to secure a government bailout with his £80 million private island as collateral, reports indicate.
Purse.io Will Continue Operating! - Bitcoin.com Weekly News Show with Roger Ver
• https://www.youtube.com, Bitcoin.comPurse.io is here to stay, BTC fees rise again, BCH adoption is increasing, plus everything else you need to know from the past week.
Wave of Repossessions Coming as Subprime Auto Buyers Miss Payments
• https://www.thestreet.com, MishSubprime car lenders report a sharp drop in auto loan payments. In a sign of upcoming trouble, Subprime Car Buyers Miss Loan Payments.
EHang commits to building air taxi terminal for China
• https://newatlas.com by Paul RiddenJust last month, China's air mobility company EHang announced plans to fly into Europe and set up shop in Seville, Spain. Now the firm has partnered with the City of Hezhou in Guangxi Province, China, to build a tourism-focused terminal for its air t
JCPenney Prepares To File For Bankruptcy
• https://www.zerohedge.com, by Tyler DurdenIt's finally here. After a decade of management turnover, near misses, last minute rescues, and one valeant (sic) if disastrous attempt at an activist turnaround, one of the most iconic US retailers and mall anchors, J.C. Penney, is preparping to fil
At Least 10 Meatpacking Plants Close In Weeks Across America Stoking Food Shortage Fears
• https://www.zerohedge.com, by Tyler DurdenUpdate (April 24): At least ten meatpacking facilities have shuttered operations over the last several weeks, stoking fears of imminent food shortages across the country.
Nevada Brothel Causes Stir With Stimulus Request
• https://www.zerohedge.com, by Jonathan TurleyThere is an interesting controversy brewing in Nevada over stimulus money and morality.
Killing Capitalism: 10,000s Of U.S. Businesses Permanently Shuttered
• https://www.technocracy.news, BY: MICHAEL SNYDERThis economic downturn is turning out to be far deeper and far more severe than most experts were originally anticipating.
Will China Use Economic Insecurity to Buy Up Stakes in the US and Europe?
• The Organic Prepper by Daisy LutherIf you think we've got problems now, just imagine what it would be like if China owned more of our economy than we do. Was this the plan all along?
A History Of The Biggest Bailouts In History
• https://www.zerohedge.com, by Tyler DurdenWhile nobody knows when the US economy will fully recover from the coronacrisis pandemic, what the economy will look like, or where the S&P will be one year from now, we do know how much money the current bailout has cost.
Of All The Banks That Shafted Small Businesses Out Of Coronavirus Relief...
• https://www.zerohedge.com, by Tyler DurdenOf All The Banks That Shafted Small Businesses Out Of Coronavirus Relief, JPMorgan Takes The Cake
Meat-Processing Plant Must Kill 2-Million Chickens Due to Stay-at-Home Campaign
• https://needtoknow.news by Information LiberationAllen Harim Foods, a Delaware-based chicken company, is being forced to kill up to 2-million chickens, because staffing shortages prevent the company from processing and delivering.
Tesla Almost Died In The Past, But Is Thriving Today: How Did It All Play Out?
• https://insideevs.com, By Steven LovedayThe electric automaker could face very difficult times ahead.
Best Buy to Restart Sending Staff Into Customer Homes as Early as Tuesday
• https://www.vice.com, by Joseph CoxOne source who provided an internal Best Buy email said they are still fearful of exposing themselves or others to the coronavirus.
Death of US retail was a long time coming and coronavirus was just final nail in coffin, ....
• https://www.rt.comThe coronavirus lockdown has caused most US department stores to shut, threatening their survival. But even without the impact of virus, many retailers would still eventually have collapsed, a former Fed insider believes.
End Occupational Licensure
• The Daily BellIn the bad old medieval days there were masters, journeymen and apprentices. This guild system controlled many occupations. If you wanted to enter any of them you had to be approved of by the powers that were.
Open Letter to Small Businesses
• https://www.ericpetersautos.com, By ericMy gym – like thousands of small businesses around the country – has been out of business for more than a month now. Not because customers aren't coming – but because customers are not allowed to come.
Coronavirus Over-Reaction
• By Rep. John J. DuncanThroughout my 30 years in Congress, I noticed that very few of the Democrats in the House had ever run or even worked in a small or medium-sized business.
If Movie Theaters Reopened, Would You Go?
• https://www.zerohedge.com by Mike ShedlockTrump has slated movie theaters as one of the first businesses to reopen. Will you go?
Governors headed for messy fight over coronavirus restrictions
• https://thehill.com, By John KruzelGovernors are heading for a clash with their own citizens and local officials as they weigh how and when to reopen the country's economy amid the coronavirus pandemic.
Donald Trump: Coronavirus Exposed Dangers of Supply Chains Dependent on China
• https://www.breitbart.com, CHARLIE SPIERINGPresident Donald Trump said Saturday the biggest lesson of the coronavirus crisis was that the United States should not rely on China for their supply chains.
Killed By The Coronavirus Lockdowns: 1000s Of U.S. Businesses That Were Shut Down...
• by Michael SnyderKilled By The Coronavirus Lockdowns: 1000s Of U.S. Businesses That Were Shut Down Will Be Closed Permanently
24 Hour Fitness Prepares For Bankruptcy
• https://www.zerohedge.com, by Tyler DurdenDespite hopes of a gradual reopening in the coming weeks, the US economy remains paralyzed...
LAST ORDERS Pubs could stay closed until Christmas as they'll be 'last to reopen'...
• https://www.thesun.co.uk, Jonathan ReillyPUBS could remain closed until Christmas in a devastating blow to the trade. Cabinet Office minister Michael Gove refused to rule out the possibility yesterday.
Getting Out Of Dodge: After Exiting Loans And Hiking Mortgage Standards...
• https://www.zerohedge.com, by Tyler DurdenGetting Out Of Dodge: After Exiting Loans And Hiking Mortgage Standards, JPMorgan Stops Accepting HELOCs
Retail Sales Were Bad; The Reality Is Catastrophic
• https://www.zerohedge.com by Tyler DurdenLast week's retail sales print was - just like the rest of recent economic data - dismal, with the year-over-year drop of 6.2% the largest since September 2009.
COVID Concerns Crush World's Oldest Profession - Demand Plunges 80%
• https://www.zerohedge.com by Tyler DurdenIn mid-March, we pointed out how sex worker income was on the verge of collapse as states imposed social-distancing rules and enforced lockdowns amid the COVID-19 pandemic.
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