Bill’s Commentary:
“A weak consumer is certainly plausible, so is GET WOKE GO BROKE!”
Disney CFO Admits Lower-Income Consumers Are “Stressed & Shaving Time Off At Parks”
Shares of Walt Disney Co. are lower in premarket trading following mixed third-quarter results on Wednesday. Disney’s streaming and movie businesses reported their first-ever profitability—one quarter ahead of schedule. However, a worsening consumer downturn has pressured the entertainment giant’s park attendance numbers and per-visitor spending.
Goldman’s Michael Ng provided clients this AM with a breakdown of third-quarter earnings, highlighting streaming and movie businesses kicking into high gear but sliding park demand and “moderation of consumer demand” should weigh on experiences in the coming quarters.
Bill’s Commentary:
“These fine young men were probably just lost …but Tulsi Gabbard is a terrorist!”
Illegal immigrants arrested on military base for trespassing walk free after posting five-figure bail
Two Jordanian nationals in the country illegally and who were arrested for trespassing on a Marine Corps base in Virginia have been released from federal custody after posting bond, federal officials confirmed to Fox News Digital.
An Immigration and Customs Enforcement (ICE) official confirmed to Fox News Digital that Hasan Yousef Hamdan and Mohammad Khair Dabous were allowed to bond out by an immigration judge in June.
The bonds were $15,000 and $10,000 for Hamdan and Dabous, respectively. Conditions of their release include showing up for immigration proceedings and staying away from Quantico or other military installations.
From Wolfgang Rech –
Bill,
Lest we get ahead of ourselves here and become too proud, a few years ago EVERYBODY in Zimbabwe was a millionaire...no wait,.make that a billionaire....no wait, make that a trillionaire.
"Q: How many US dollars is 100 trillion Zimbabwe dollars?A: 100 trillion Zimbabwe dollars = $0.40 USor stated another way:$1.00 USD = $250,000,000,000,000 ZimbabThe country of Zimbabwe has more trillionaires than any other country on earth. Of course a trillion dollars there doesn't go as far as it used to."
Everything is relative. Never forget that.Wolfgang Rech
Bill’s Commentary:
“”Action”? Why not just take all of the “depositors” (legally lenders) money? That’s the plan anyway, right?”
Bank of England seeks action from Britain’s biggest banks on crisis plans
Five of Britain’s biggest banks were today instructed to improve their readiness for failure after the sudden demise of major financial institutions last year highlighted the speed with which they can collapse. The Bank of England today named Barclays, HSBC and Lloyds among firms that needed to strengthen their preparedness for failure, warning they must be “sufficiently flexible and able to produce timely and robust estimations of their liquidity needs in a resolution, given the speed at which events can evolve, for example due to rapid deposit outflows.”
The scale of the risks latent within the banking sector was revealed last year by the rapid collapse of Credit Suisse and Silicon Valley Bank (SVB), which sent shockwaves through financial markets. Within a day of SVB’s warning that it needed a capital raise, the firm’s share price sunk 60% and as much as $40 billion or nearly a third of its deposits had been withdrawn, with a further $100 billion on course to leave. The UK arm of SVB was acquired shortly thereafter in a last-minute rescue deal by HSBC, while Credit Suisse was merged with UBS.
Bill’s Commentary:
“Another “get woke …go broke”!”
CNN Effectively Worthless After Parent Warner Bros Takes $9.1 Billion Writedown
What had been obvious “to the rest of us” for years, is finally official: late last night, shares of Warner Bros. Discovery, the parent of CNN and TNT, crashed 10% to the lowest level on record after it reported dire results, which missed across the board and plunged across every income statement category…
… but the biggest hit – and surprise – was the company’s stunning $9.1 billion charge taken to write down the value of its traditional TV networks, such as CNN and TNT, which were acquired in 2022 when Warner Bros Discovery was created as part of its acquisition of WarnerMedia. The write down confirmed that legacy cable channels like CNN and TNT are no longer worth what they were when the $42 billion merger was completed. In fact, judging by the ongoing mass layoffs at the former, one can argue that CNN’s value is now negative and will continue to be so until it stops hemorrhaging cash.
Bill’s Commentary:
“Father God did bless Texas!”
BillHolter.com 