Zombie The Coronavirus Financial Thread (Personal, Local, National)

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https://www.google.com/amp/s/www.cnbc.com/amp/2020/08/25/nordstrom-jwn-reports-q2-2020-results.html

Nordstrom's sales fall 53% as department store chain suffers store closures amid pandemic

  • Nordstrom reported a net loss for the period ended Aug. 1 of $255 million, or $1.62 per share, compared with net income of $141 million, or 90 cents a share, a year ago.
  • Its net sales tumbled 53%, with its stores temporarily shut for about half of the days during the second quarter.
  • "We're confident that we can improve sales trends in the second half of the year and beyond," President Pete Nordstrom said
 
Can somebody on here with knowledge of how Wall Street works please explain to me how restaurants and businesses are failing and closing left and right, yet NADAQ is so strong? How does that shit work?
I myself have 5 or 6 friends who have either had to shut their businesses down or are close to. ANd isn’t unemployment really high right now?
 
Well, I'm going to very likely quit my job after lunch. Its incredibly stressful and I've reached the tipping point and things are not going to get better. I know its really stupid to do in the middle of a pandemic, but I don't care.
Brother, think twice about that. I hadn’t worked for 155 days until the bubble games...... and now looks like today is my last day of work until god knows when. We are scraping by. WOuldn’t wish this on anybody. If you have the option of working, work FAMS!
 
Brother, think twice about that. I hadn’t worked for 155 days until the bubble games...... and now looks like today is my last day of work until god knows when. We are scraping by. WOuldn’t wish this on anybody. If you have the option of working, work FAMS!

I really wish there was another way, but there isn't.
 
Can somebody on here with knowledge of how Wall Street works please explain to me how restaurants and businesses are failing and closing left and right, yet NADAQ is so strong? How does that shit work?
I myself have 5 or 6 friends who have either had to shut their businesses down or are close to. ANd isn’t unemployment really high right now?

Wall Street aint Main Street Son. Business is good for the .01%.
 
Can somebody on here with knowledge of how Wall Street works please explain to me how restaurants and businesses are failing and closing left and right, yet NADAQ is so strong? How does that shit work?
I myself have 5 or 6 friends who have either had to shut their businesses down or are close to. ANd isn’t unemployment really high right now?

Investors know the government will bail companies out. No risk.
 
Can somebody on here with knowledge of how Wall Street works please explain to me how restaurants and businesses are failing and closing left and right, yet NADAQ is so strong? How does that shit work?
I myself have 5 or 6 friends who have either had to shut their businesses down or are close to. ANd isn’t unemployment really high right now?
billionaires are profiting and buying up defaulted real estate properties and small businesses left and right...they are propping up their own stock portfolios with not only tax cuts but bailout money...the wealthy make out like crazy during an economic crisis because they have expendable money to invest...as you fail...they buy you out..one guy got 8.1 million in bailout money and invested part of it in the stock market and gambled the rest in Vegas...he got caught though. Soros built an empire buying hotels and airports, etc in war torn countries for next to nothing and waiting out the wars..it's a buyer's market..
 
I really wish there was another way, but there isn't.
My son is going through this....he has a great job with good pay and benefits but is burned out on the job and owners....he's sending out resumes like crazy and is starting to interview....tough because he just had a baby and has a mortgage, etc....happiness in work has a lot of value. Where he is they have meetings that have nothing to do with him and pretty much gossip which he hates. I encourage him to move on when he lands something comparable financially..life is short
 
Can somebody on here with knowledge of how Wall Street works please explain to me how restaurants and businesses are failing and closing left and right, yet NADAQ is so strong? How does that shit work?
I myself have 5 or 6 friends who have either had to shut their businesses down or are close to. ANd isn’t unemployment really high right now?
Simple answer... The Federal Reserve.
They're 'printing' money at a staggering pace. This liquidity has to go somewhere, and so it is being routed to the stock market.
In the last few months, we've seen some significant inflation. I fear it's going to get a whole hell of a lot worse for the next 5-10 years.
 
Brother, think twice about that. I hadn’t worked for 155 days until the bubble games...... and now looks like today is my last day of work until god knows when. We are scraping by. WOuldn’t wish this on anybody. If you have the option of working, work FAMS!

Gave notice. Agreed to stay on until they find a replacement up to 2 weeks.
 
Can somebody on here with knowledge of how Wall Street works please explain to me how restaurants and businesses are failing and closing left and right, yet NADAQ is so strong? How does that shit work?
I myself have 5 or 6 friends who have either had to shut their businesses down or are close to. ANd isn’t unemployment really high right now?
That gravy train won't last forever.
 
Best to you bro...go start that next chapter

Well, I spoke with my boss, who apologized and promised he would change the direction of things. The things I have been tasked with doing as of late have been unethical/not legal. He promised to slow down a little. Letter of resignation on file, but he asked to stay with an eventual goal of me working from home permanently. I told him that if things don't change in the next 2 week, within the window of my 2 week notice, then I'm out of here.

I had already turned in my company credit card to HR and did a forensic cleaning of my computer. Shit, took my phone charger home too.

I was looking at jobs last night. God damn, they all suck and pay shit. Only one that looked good was Medical Laser sales, but those are hard as fuck to get and have pretty quick turnover.
 
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I really wish there was another way, but there isn't.
Been there, done that. It helped that my wife had a good job and that I had some form of retirement (nowhere near as good as the general public thinks) but my health and sanity were at risk. My wife and I did what we needed to do to squeak by. It wasn’t easy but I was a great deal happier (and healthier) and in time so was she. Look out for YOU and don’t look back. Like is far too short to suffer dickheads......
 
Been there, done that. It helped that my wife had a good job and that I had some form of retirement (nowhere near as good as the general public thinks) but my health and sanity were at risk. My wife and I did what we needed to do to squeak by. It wasn’t easy but I was a great deal happier (and healthier) and in time so was she. Look out for YOU and don’t look back. Like is far too short to suffer dickheads......

My boss is basically a carbon copy of Trump. So you can imagine how that is.
 
Well, I spoke with my boss, who apologized and promised he would change the direction of things. The things I have been tasked with doing as of late have been unethical/not legal. He promised to slow down a little. Letter of resignation on file, but he asked to stay with an eventual goal of me working from home permanently. I told him that if things don't change in the next 2 week, within the window of my 2 week notice, then I'm out of here.

I had already turned in my company credit card to HR and did a forensic cleaning of my computer. Shit, took my phone charger home too.

I was looking at jobs last night. God damn, they all suck and pay shit. Only one that looked good was Medical Laser sales, but those are hard as fuck to get and have pretty quick turnover.
I refused to do anything unethical at my workplaces. Fortunately I only had to refuse to do something on one occasion and that was at Boeing and it was at the direction of my lead engineer who said he would deny it if I ever complained about it. I never spoke to that son-of-a-bitch again. Otherwise, I found Boeing to be squeaky clean. My boss and his boss were using me to cheat our customer, the U.S. Army unbeknownst to me. I left the company before i found out and I later learned they both got fired and lost all their benefits for it. I wish that would have happened to the ass hole at Boeing. I ran into lots of ass holes at Boeing but only the one who cheated out and out although there was another manager who toyed with cheating. I complained about him but nothing ever came of it. Perhaps I should have taken it higher but he did report to a Division President at Boeing and so had some big guns on his side. Still, one of the biggest ass holes I ever met in the corporate world.

Bottom line, take my advice and never get into anything even borderline unethical. A professional should make this priority one.
 
Been there, done that. It helped that my wife had a good job and that I had some form of retirement (nowhere near as good as the general public thinks) but my health and sanity were at risk. My wife and I did what we needed to do to squeak by. It wasn’t easy but I was a great deal happier (and healthier) and in time so was she. Look out for YOU and don’t look back. Like is far too short to suffer dickheads......
It's like I had a twin.
 
Been laid off since mid May. FINALLY got a call in to someone that sounds like could actually help with getting unemployment started up for me. Not gonna hold my breath on it. At least some of my old co-workers finally started getting paid after 3.5 months of nothing.

What state are you in?
 
Been laid off since mid May. FINALLY got a call in to someone that sounds like could actually help with getting unemployment started up for me. Not gonna hold my breath on it. At least some of my old co-workers finally started getting paid after 3.5 months of nothing.
If you finally get that catch-up payment, it's gonna be nice.
 
Can somebody on here with knowledge of how Wall Street works please explain to me how restaurants and businesses are failing and closing left and right, yet NADAQ is so strong? How does that shit work?
I myself have 5 or 6 friends who have either had to shut their businesses down or are close to. And isn’t unemployment really high right now?
Most restaurants are not corporations on the nasdaq or Dow. Only your larger chains. So most aren't represented in market ups and downs.
 
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