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Gene Bicknell opened a Pizza Hut franchise in 1962 in Pittsburg, Kansas. He formed National Pizza Company and began adding more locations. In 1994, the company was renamed NPC International and today owns 1,600 Pizza Huts and Wendy's. Sales are declining and NPC has a debt of $1 billion.
NPC, world's largest Pizza Hut and Wendy's franchisee, is considering bankruptcy. Is the restaurant franchise model broken?
https://www.ibtimes.com/largest-pizz...-model-2926676
I wonder what the label will say. "Ingredients: cocoa, tofu, tempeh, quinoa, wheat gluten, chia seeds, dichondra, dandelion leaves, yeast, spelt, spirulina, chickpeas, sawdust, artificial flavor, artificial color." This craze for plant-based foods is really getting ridiculous.
Cadbury is testing a new plant-based version of its massively popular Dairy Milk chocolate bar as veganism sweeps the globe
https://www.businessinsider.com/cadb...ate-bar-2020-2
King Donald the First, who thinks everything is about him, is concerned about the 2019-nCoV virus but only because he's afraid a pandemic would hurt our nation's economy and jeopardize his re-election bid. The first part of his fear is already coming true.
Dow closes down 1,031 points as coronavirus fears wipe out year's gains
https://www.msn.com/en-us/money/mark...ns/ar-BB10iRgQ
DoorDash was founded in 2013 in Palo Alto by four Stanford students. Of all the meal delivery services in the United States, DoorDash now has a 38% market share. GrubHub has 31%, Uber Eats has 20% and Postmates has 10%. DoorDash is valued at nearly $13 billion – but it's struggling to make money. Good luck with that IPO!
DoorDash just confidentially filed IPO paperwork as it prepares to go public
https://www.businessinsider.com/door...-public-2020-2
The Dow, NASDAQ and S&P have all fallen more than 10% below their most-recent peaks. The Dow fell 1,191 points today, surpassing the February 5 drop of 1,175 points.
Dow falls 1,191 points, the most in history
US markets posted another sharp selloff as worries about coronavirus mount.
https://www.cnn.com/2020/02/27/inves...off/index.html
Bloomberg is finally acknowledging a pattern that I've complained about for three years: Vain, pompous, egotistical, narcissistic King Donald the First takes sole credit when the stock market rises but never assumes any blame or responsibility when it falls.
Trump takes credit when markets rise, points finger when they fall
https://www.bloomberg.com/news/artic...when-they-fall
This week the S&P fell 11%, the Dow fell 12% and the Stoxx Europe 600 fell 12%. NASDAQ fared much better, ending the week with a gain of 0.1%. Many financial experts believe the markets will not recover until the second half of this year, and that's assuming warmer weather will slow the spread of the coronavirus.
S&P 500 posts worst week since the 2008 financial crisis as coronavirus fears flare
https://markets.businessinsider.com/...0-2-1028951101
[b]For the past two weeks, US financial markets have been reacting to the potential economic damage from the COVID-19 virus. They're actually over-reacting, which is worsening the economic damage. Today the Dow fell 785.91 (2.94%).
The 10-year Treasury bond yield just dropped below 1% for the first time in history
https://www.cnn.com/2020/03/03/inves...low/index.html
In 1924, Richard Simon and M. Lincoln Schuster founded a publishing company in New York City. Their first publications were books of crossword puzzles. Simon & Schuster, now the nation's third-largest book publisher behind Penguin Random House and HarperCollins, owns 35 imprints including Scribner, Atheneum Books, Gallery Books, Pocket Books, Scout Press and Washington Square Press.
ViacomCBS puts iconic book publisher Simon & Schuster up for sale
https://www.latimes.com/entertainmen...isher-for-sale
Tesla CEO Elon Musk complained, "We get these unfair accusations that we are underreporting injuries." Well, guess what? The accusations are not unfair. In fact, they're quite accurate – and OSHA is not happy.
Tesla reportedly failed to tell regulators about dozens of factory injuries, then claimed without evidence that regulators praised its record-keeping
https://www.businessinsider.com/tesl...ifornia-2020-3
Remember, you can't spell "down" without "D-O-W."
Dow drops 2,014 points (7.8%), its biggest decline since 2008, as coronavirus fuels market turmoil
The S&P 500 plunged as much as 8% today, its biggest intraday drop since 2010, before closing 7.6% lower.
https://markets.businessinsider.com/...0-3-1028978137
Today the S&P fell 9.51% and NASDAQ lost 9.43%. The Dow fell by 9.99%, its biggest drop since the so-called "Black Monday" of October 19, 1987, when it fell 22.6%. Museums, sports arenas, concert halls and theme parks are closing, music festivals and trade shows are being canceled, colleges and universities are moving their classes online, millions of Americans have stopped traveling and stopped going out to eat or shop – all because of coronavirus fears. Our economy is suffering and dragging down the stock market. One example: The NBA and NHL have suspended their seasons and shares of Madison Square Garden, home of the Knicks and Rangers, fell 10.23% today.
Dow's 10% loss is most since 1987 market crash
Investors continued a massive selloff today.
https://abcnews.go.com/Business/futu...ry?id=69554569
In the United States, there are now 4,314 confirmed cases of the coronavirus and 77 have died. President Trump today admitted the coronavirus "is not under control" and acknowledged the possibility of a recession. He said American life might not return to normal until August. I suspect that is true for the entire world.
Dow tumbles 2,997 points (12.9%), worst point drop in history
The S&P finished down nearly 12%; NASDAQ ended down 12.3%.
https://www.cnn.com/business/live-ne...620/index.html
The National Bureau of Economic Research defines a recession as "a significant decline in economic activity spread across the economy, lasting more than two quarters, normally visible in real gross domestic product, real income, employment, industrial production and wholesale-retail sales." There have been 46 depressions in United States history. Make that 47.
The global coronavirus recession is beginning
CNN Business, Mar 16 2020 3:23 PM
As restaurants, shops, airlines and factories shut down around the world, from New York to Paris and Madrid, economists are warning that a global recession is no longer a looming threat. It's here. Dire economic data released by China on Monday showed that the country was pummeled by the coronavirus outbreak in January and February. The world's second biggest economy looks unlikely to recover any time soon. Now, with governments and central banks in Europe and North America pursuing drastic measures to try to control the pandemic, Asia still on high alert and financial markets in meltdown, a growing number of experts say a global contraction is beginning.
https://www.cnn.com/2020/03/16/econo...rus/index.html
Schools are closed. Bars and restaurants are closed. Department stores are closed. Gyms and fitness centers are closed. Sports arenas are closed. Theaters and playhouses are closed. Museums, libraries and concert halls are closed. Welcome to the Great Depression of 2020.
Unemployment could hit 20%, Steven Mnuchin says
Treasury Secretary tells Senators he's worried coronavirus
fallout could be worse than the 2008 financial crisis.
https://www.cnn.com/world/live-news/...17-20-intl-hnk
King Donald the First, who has a galaxy-sized ego, takes sole credit when the stock market is doing well but never assumes any blame or responsibility when the market is doing poorly – and right now it's doing poorly. Very poorly.
The entire Trump stock rally is gone: Dow erases all its gains since Donald Trump took office
https://www.cnn.com/2020/03/18/inves...ins/index.html
Bars, restaurants, gyms, fitness centers, schools, churches, museums, libraries, theaters, playhouses, sports arenas, concert halls, casinos, department stores and many other businesses have closed because of coronavirus fears. We can now add banks to the list.
JPMorgan Chase is closing 20% of its branches and reducing staffing amid the coronavirus pandemic but it will pay employees asked to stay home
https://www.businessinsider.com/coro...taffing-2020-3
Goldman Sachs economist Jan Hatzius says "a dramatic slowdown is already underway." Gee, ya think?
Goldman Sachs says US GDP will shrink 24% next quarter amid the coronavirus pandemic – which would be 2½ times bigger than any decline in history
https://markets.businessinsider.com/...0-3-1029018308
Because of the coronavirus pandemic, there really isn't much reason to have a phone right now. Travel is restricted, schools are closed, theaters are closed, non-essential businesses are closed, there are no sporting events, and about all you can do with a phone is call your friends and say, "I'm staying home today. What are you doing? Oh, you're staying home too?" The COVID-19 death toll in the United States is now 1,032.
Global smartphone sales fell 14% in February as coronavirus spread
https://www.reuters.com/article/us-h...-idUSKBN21D0FA
Businesses nationwide have been hurt by the coronavirus pandemic. Unemployment claims are at an all-time high. Amazon today fired a New York City warehouse worker who led a strike of more than 60 employees demanding safer working conditions. Airbnb is allocating $250 million to help offset the losses of hosts whose guests have canceled bookings because of the coronavirus pandemic. And then there's Macy's.
Macy's to furlough most of its 130,000 employees as stores stay shut
https://www.aol.com/article/finance/...shut/23965719/