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News & Articles By Ramon Tomey
05/05/2023
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By Ramon Tomey
Burger King to close up to 400 locations in 2023
Fast food chain Burger King is set to close up to 400 locations across the country this year, with the under-performing ones being the first to go. According to the Daily Mail, Burger King CEO Joshua Kobza confirmed the closures after the company announced its results for the first quarter of 2023. The earnings release […]
05/05/2023
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By Ramon Tomey
Nordstrom to leave downtown San Francisco after 35 years due to city’s deteriorating conditions of high violence and crime
Department store chain Nordstrom has announced that it will leave downtown San Francisco after 35 years in business there due to the city’s deteriorating condition. Nordstrom Chief Stores Officer Jamie Nordstrom wrote in a May 2 letter to employees: “The dynamics of the downtown San Francisco market have changed dramatically over the past several years, […]
05/04/2023
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By Ramon Tomey
Another one bites the dust: Investors warn of more economic pain after failure of First Republic Bank
Investors have warned of more economic pain ahead following the failure of the San Francisco-based First Republic Bank (FRB). The investors issued this warning during the Milken Institute’s 2023 Global Conference in Beverly Hills, California. According to them, the Federal Deposit Insurance Corporation’s (FDIC) seizure of a third U.S. regional bank threatens to constrain credit […]
05/01/2023
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By Ramon Tomey
California businesses still paying for Julie Su’s $31B mistake
Businesses in California are still shouldering the $31 billion mistake of Acting Labor Secretary Julie Su three years on. The so-called “Su tax” was a hike in payroll taxes imposed to offset the massive benefits fraud that happened during the Wuhan coronavirus (COVID-19) pandemic in 2020. Nearly 60 businesses and agriculture groups in the Golden […]
04/27/2023
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By Ramon Tomey
Buybuy Baby set to close after parent company Bed Bath & Beyond files for Chapter 11 bankruptcy
Infant goods store Buybuy Baby announced that it will close for good following the bankruptcy filing of its parent company Bed Bath & Beyond (BBB). “Thank you to all of our loyal customers. We have made the difficult decision to begin winding down our operations. BBB & Buybuy Baby stores remain open to serve you,” […]
04/26/2023
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By Ramon Tomey
Woke firm Bed Bath & Beyond that dropped Mike Lindell’s MyPillow files for BANKRUPTCY
Bed Bath & Beyond (BBB), which went down the path of wokeism by dropping Mike Lindell’s MyPillow from its stores, has filed for bankruptcy. According to the Wall Street Journal (WSJ), the retailer filed for Chapter 11 bankruptcy in Newark, New Jersey on April 23. The company said it expects to eventually close all of […]
04/26/2023
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By Ramon Tomey
San Fran Target store locks products behind glass security cabinets
A Target store in San Francisco has taken to locking products behind security glass amid rising retail theft in the City by the Bay. According to the Daily Mail, a video posted April 20 on TikTok showed the big-box retailer’s new security measure. “This is what my Target in [San Francisco] looks like now,” read […]
04/26/2023
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By Ramon Tomey
Zimbabwe’s central bank to issue GOLD-backed digital currency in effort to stabilize runaway inflation
The southern African nation of Zimbabwe has announced that it will introduce a gold-backed digital currency. CoinTelegraph reported that the move by the Reserve Bank of Zimbabwe (RBZ) seeks to stabilize the local currency amid continued depreciation against the U.S. dollar. The Zimbabwe dollar (Z$) currently trades at Z$1,001 to $1. However, the rate for […]
04/21/2023
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By Ramon Tomey
ESPN to commence LAYOFFS as part of larger Disney job cuts
Sports channel ESPN is set to begin layoffs, which are part of larger job cuts announced by its parent The Walt Disney Company. People familiar with the matter confirmed the impending layoffs, adding that several on-air talents and management will be included. The sources spoke on condition of anonymity as the discussions regarding the layoffs […]
04/20/2023
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By Ramon Tomey
Real estate giant Brookfield defaults on $161M in loans for DC office buildings
Commercial real estate (CRE) company Brookfield Corp. has defaulted on a $161.4 million mortgage for 12 office buildings in Washington, D.C. – highlighting the sector’s collapse since the Wuhan coronavirus (COVID-19) pandemic. A Bloomberg report said Brookfield’s loan was transferred to a special service working with the company “to execute a pre-negotiation agreement and to […]
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