Ripped From The Headlines, January 8, 2024
Private Companies Going Broke, 2nd Largest Radio Company Bankrupt, German Farmers Rise Up - Read, Share, & Subscribe - SherlocExposes.com
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“Private U.S. companies are seeing their earnings and profit margins collapse after the Federal Reserve’s rate hikes have lifted financing costs, and are increasingly going broke, according to a new report.
Larger companies have been mostly insulated from the pain so far. But these corporations often use mid-sized private firms as suppliers, and the failure of smaller businesses could disrupt supply chains and boost costs for bigger enterprises, according to the report from Marblegate Asset Management and Rapid Ratings on Monday.
‘The water looks fine from the shore but what’s happening underneath the surface is a very very troubled environment that is very dangerous,’ said Andrew Milgram, managing partner and chief investment officer at Marblegate.
Any weakness among private companies could hit investors in one of the fastest-growing parts of debt markets: private credit lenders. These money managers oversee around US$1.6 trillion of direct loans and other forms of private credit.
The struggles at smaller companies could create opportunities for professionals that help companies restructure their debt and turn themselves around, Milgram said.”
THINGS TO PONDER:
“We’re a BIG business… nothing is wrong!”
Not so much, eh?
It turns out the little guy DOES matter after all…
And the big guys rely on mid-sized guys… who in turn rely on?
Those little guys.
No business is safe in an economy that’s on the brink of implosion via a “polycrisis…”
It’s just a matter of when, not if.
If you’re traditionally invested, it’s a good idea to start rethinking exactly what that means and what you can do to protect your wealth.
Brace For Impact.
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“Audacy, the radio and podcast giant, said Sunday it filed plans for Chapter 11 bankruptcy protection in Texas to reduce its debt.
The restructuring agreement will allow Audacy to slash its total debt load by 80% to about $350 million from around $1.9 billion, the company said.
‘Over the past few years, we have strategically transformed Audacy into a leading, scaled multi-platform audio content and entertainment company,’ David Field, CEO of Audacy, said in a statement.
However, Field added, ‘the perfect storm’ over the past four years of macroeconomic challenges ‘facing the traditional advertising market’ led to a sharp reduction in radio ad spending.
‘These market factors have severely impacted our financial condition and necessitated our balance sheet restructuring,’ Field said.
The Philadelphia-based company owns hundreds of radio stations and is one of the top radio broadcasters in the U.S. Audacy owns WFAN Sports Radio, New York’s 1010 WINS and KCBS.”
THINGS TO PONDER:
Get used to seeing more canned lines like this:
‘These market factors have severely impacted our financial condition and necessitated our balance sheet restructuring,’
That really means this:
“We’ve done a piss poor job with leadership and business planning, we’re now broke. So instead of cutting back on our executive things and using sound fundamentals, we’re just going to screw over the average shareholder.”
Audacy (formerly Entercom) is an easy one to pick on, but they are not the only one.
In the marketing and advertising business, advertisers will eventually figure out that something isn’t working…
Combined with the inability of the radio industry to tell a compelling story as to why the dollars should come to them, it is indeed “a perfect storm.”
Pro tip: This is only the beginning.
Brace For Impact.
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“German farmers have blocked roads with tractors and trucks as they start a week of protests over plans to scrap tax breaks on diesel.
Police reported problems at locations across the country as vehicles parked up on major routes and slip roads.
The main avenue to Berlin's Brandenberg Gate was affected on Monday morning, with dozens of tractors parked up in freezing temperatures.
Many vehicles had banners with slogans such as ‘No farmers, no food, no future.’
The farmers plan to protest for a week and say the government's plan to end tax breaks on agricultural diesel will put many out of business.
The backlash prompted the coalition to modify its plans last week and the diesel subsidy will now phase out over two years rather than end suddenly.
A plan to abolish a car tax exemption for farming vehicles was also scrapped.
However, farmers' association DBV called the measures ‘absolutely insufficient’ and is going ahead with this week's action.
The government plans were part of a package to fill a €17bn (£14.6bn) hole in the annual budget.
Protesters' actions will be watched closely after a group of farmers was criticised last week for stopping vice chancellor Robert Habeck getting off a ferry as he returned from a personal trip.
THINGS TO PONDER:
Another story of “elected leaders” utterly unable to do their job, trying to #CYA by screwing with their nation’s food production…
You read that right: German “political leaders” decided that they needed to keep getting theirs, which means the German people can just go hungry…
That’s not all…
The “protester actions will be closely watched” because they dared to criticize a head grifter for not doing his job…
Look for this to come to a street near you very soon.
If you want to understand what’s really happening, we recommend watching The Great Taking by David Webb:
Your Future Depends On It.
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