The Bad News Report

[urbanlover568]

7 hours ago, Madison Parkitect said:

Wonder if WeWork is the first domino that starts the looming recession, like pets.com did with the dot com bust.

Don't be too "political" for saying a recession is coming.

[urbanlover568]

9 hours ago, tarhoosier said:

Pets.com

 

pets.com

No information is available for this page.

Learn why

https://en.m.wikipedia.org/wiki/Pets.com

[videtur quam contuor]

My post was to illustrate the transience of Pets.com. I recall well the internet boom and collapse. Pets.com is a web site link that is useless and worth nothing now, apparently,, as the collapse displayed.

It was not a question or request.

[kermit]

^ I'll bet I had 2 metric tons of dog food delivered from Pets.com back in the day. Each 40lb bag was roughly 66% off compared to the real world and shipped for free. The UPS guy hated me.

Can't imagine why they went under....

[lancer22]

On 10/18/2019 at 9:21 AM, Madison Parkitect said:

Wonder if WeWork is the first domino that starts the looming recession, like pets.com did with the dot com bust.

I highly doubt it tbh. A WeWork implosion impacts a very narrow portion of the US commercial real estate market (Class A/B office in gateway markets), let alone the entire commercial real estate market, which is itself a minority portion of the US economy. Can't see how WeBankrupt going under impacts, for example, residential real estate in Dallas or industrial warehouses in Pennsylvania for example.

[Old Carolinian]

From The Financial Times:

"If you wake up on a Casper mattress, work out with a Peloton before breakfast, Uber to your desk at a WeWork, order DoorDash for lunch, take a Lyft home, and get dinner through Postmates, you’ve interacted with seven companies that will collectively LOSE nearly $14 billion this year".

[urbanlover568]

Another store bites the dust. 

 

https://www.bizjournals.com/charlotte/news/2019/10/21/two-charlotte-area-stores-to-close-as-specialty.html?ana=TRUEANTHEMFB_CH&utm_campaign=trueAnthem%3A+Trending+Content&utm_content=5dae1c984c15b80001488777&utm_medium=trueAnthem&utm_source=facebook&fbclid=IwAR3xb5NefMyWlfH3JjHdtdO1280PVUwdo_TWccqnvdbnhm0omvgftXvdCAs

[rancenc]

1 hour ago, mpretori said:

Another store bites the dust. 

 

https://www.bizjournals.com/charlotte/news/2019/10/21/two-charlotte-area-stores-to-close-as-specialty.html?ana=TRUEANTHEMFB_CH&utm_campaign=trueAnthem%3A+Trending+Content&utm_content=5dae1c984c15b80001488777&utm_medium=trueAnthem&utm_source=facebook&fbclid=IwAR3xb5NefMyWlfH3JjHdtdO1280PVUwdo_TWccqnvdbnhm0omvgftXvdCAs

On another retail closing front, the Best Buy in Kannapolis at Afton Ridge (Kannapolis Parkway and I-85) is closing November 2.  Was in the store over the weekend and they are emptying out their wares!!

[gman430]

More bad news: it has been too long since I have taken drone pics in Charlotte.

[urbanlover568]

Wow, you know it's bad when you can't pay your workers severance.

 

https://amp.businessinsider.com/wework-reportedly-delayed-layoffs-because-its-short-on-cash-2019-10

[urbanlover568]

Please be careful out there everyone! 

Gay couple says they were assaulted by men claiming to be police

https://www.fox46charlotte.com/news/gay-couple-says-they-were-assaulted-by-men-claiming-to-be-police?fbclid=IwAR0_cvBOxRs5IlLJ8I3lJTqPWR8IIKFzm7oQ61Ta-Dvq4Px-b-ZCpO4JI8E

[lancer22]

1 hour ago, mpretori said:

Please be careful out there everyone! 

Gay couple says they were assaulted by men claiming to be police

https://www.fox46charlotte.com/news/gay-couple-says-they-were-assaulted-by-men-claiming-to-be-police?fbclid=IwAR0_cvBOxRs5IlLJ8I3lJTqPWR8IIKFzm7oQ61Ta-Dvq4Px-b-ZCpO4JI8E

Saddest part of this story is that Yancey isn't South End......I kid, I kid. Sorry to hear, and sounds like these guys might be hitting the blue wall so to speak.

 

[urbanlover568]

22 hours ago, lancer22 said:

Saddest part of this story is that Yancey isn't South End......I kid, I kid. Sorry to hear, and sounds like these guys might be hitting the blue wall so to speak.

 

Quote

Kenny Coppedge and his boyfriend Jordan Frye were walking along Yancey Road when they said a group walked up behind them.

What the perpetrators did to these guys is how the Gay's in Russia are beaten. Very militant.  Really sad. AND the cops let the people who beat them go. 

Edited October 26, 2019 by mpretori

[kermit]

Some interesting county-level unemployment data has been floating around lately. Looking at unemployment rate yoy change to Q3 2019 shows that NC has not been faring well in terms of job growth. While we are certainly doing better than Mississippi and Wisconsin you can see clearly that the employment is moving the wrong direction in much of the state:

Map was from https://www.washingtonpost.com/business/2019/11/09/why-it-looks-like-alabama-mississippi-have-suddenly-gone-opposite-directions/  but the post has used it in several articles over the past week.

Edited November 10, 2019 by kermit

[Nick2]

20 minutes ago, kermit said:

Some interesting county-level unemployment data has been floating around lately. Looking at unemployment rate yoy change to Q3 2019 shows that NC has not been faring well in terms of job growth. While we are certainly doing better than Mississippi and Wisconsin you can see clearly that the employment is moving the wrong direction in much of the state:

Map was from https://www.washingtonpost.com/business/2019/11/09/why-it-looks-like-alabama-mississippi-have-suddenly-gone-opposite-directions/  but the post has used it in several articles over the past week.

While this seems bad by the numbers, you actually want a floating unemployment rate between 4-5 or 4.5-5% (depending on the source). Having an unemployment rate in the 3-4% is actually unhealthy for the economy. It creates an imbalance that no one really knows how to deal with because it never happens. And NCs sits at 4.1 statewide, with it much lower in urban areas. So while the raw information seems bad, it isn't all that serious unless you're looking at it being a possible beginning of an upward trend. Once the unemployment gets low enough, you want it to stagnate which is what NC looks like it's doing thus showing a more balanced economy.

However, Mississippi is going to have some major problems looking at its numbers. Which is what that article was actually about. Fascinating data nonetheless.

[urbanlover568]

23 hours ago, kermit said:

Some interesting county-level unemployment data has been floating around lately. Looking at unemployment rate yoy change to Q3 2019 shows that NC has not been faring well in terms of job growth. While we are certainly doing better than Mississippi and Wisconsin you can see clearly that the employment is moving the wrong direction in much of the state:

Map was from https://www.washingtonpost.com/business/2019/11/09/why-it-looks-like-alabama-mississippi-have-suddenly-gone-opposite-directions/  but the post has used it in several articles over the past week.

AL and SC are low because of the boomers migrating there and low millennial migration there. NC, GA, and FL have extremely high millennial migration and tech presence which could the reasoning behind the saturation.  People <3 CLT! 

[CarolinaDaydreamin]

On 11/10/2019 at 6:15 PM, kermit said:

Some interesting county-level unemployment data has been floating around lately. Looking at unemployment rate yoy change to Q3 2019 shows that NC has not been faring well in terms of job growth. While we are certainly doing better than Mississippi and Wisconsin you can see clearly that the employment is moving the wrong direction in much of the state:

Map was from https://www.washingtonpost.com/business/2019/11/09/why-it-looks-like-alabama-mississippi-have-suddenly-gone-opposite-directions/  but the post has used it in several articles over the past week.

Something about this map doesn't fit. No change in unemployment rate would be so stark between state lines. It would realistically be a mosaic that would be much more local. No way MS and AL would be so different. Not sure if its how the states themselves report numbers or how the numbers were collected, but I'm not reading into these at all. Demographics don't shift at state borders and neither do unemployment numbers.

[rancenc]

Another national retailer folds.  Stores in Concord, Matthews, and Hickory will close.

https://www.usatoday.com/story/money/2019/11/25/a-c-moore-store-closings-all-stores-shutter-some-michaels/4303313002/

 

[CLT2014]

Co-owner of Brooks Sandwich House in Noda shot to death at the restaurant this morning. Scoot Brooks and his twin brother have been big advocates for affordable housing, improving the community, et. This was the 104th homicide in 2019. 

https://www.wbtv.com/2019/12/09/homicide-investigation-underway-noda/

Edited December 9, 2019 by CLT2014

[Desert Power]

58 minutes ago, CLT2014 said:

Co-owner of Brooks Sandwich House in Noda shot to death at the restaurant this morning. Scoot Brooks and his twin brother have been big advocates for affordable housing, improving the community, et. This was the 104th homicide in 2019. 

https://www.wbtv.com/2019/12/09/homicide-investigation-underway-noda/

This is really tragic.  Family business open for over 40 years.  One of my absolute favorite things in Charlotte.  A life well lived though for sure.

[Dale]

On 10/25/2019 at 7:39 PM, mpretori said:

What the perpetrators did to these guys is how the Gay's in Russia are beaten. Very militant.  Really sad. AND the cops let the people who beat them go. 

Not denying it happened. And assault against anyone should be prosecuted. But so many of these are hoaxes I don’t know what to believe anymore.

[urbanlover568]

North Carolina is the 5th worst state for millennials. Don't agree with the study.

 

https://amp.businessinsider.com/worst-us-states-for-millennials-ranked-2019-12

[KJHburg]

^^^^I put a lot of faith in that study since it features a great shot of historical Charleston North Carolina.   And South Carolina does have a photo of Columbia

Edited December 27, 2019 by KJHburg

[davidclt]

50 minutes ago, mpretori said:

North Carolina is the 5th worst state for millennials. Don't agree with the study.

 

https://amp.businessinsider.com/worst-us-states-for-millennials-ranked-2019-12

This looks like the typical Business Insider clickbait. Sloppy copy. Which NC town is featured in our beauty shot? Possibly Charleston, NC? I gave up on Business Insider about five years ago once I realized their world ended at the Hudson River, Apple could do no wrong and they were feeding the clickbait troll with horrible headlines. They're the Charlotte Agenda (without the rigor) of business reporting.

https://handluggageonly.co.uk/2018/01/26/9-things-charleston-south-carolina/

Edited December 27, 2019 by davidclt

[urbanlover568]

....another mall shooting.