The business equivalent of a world war is happening right now. This pandemic is the fastest destroyer of business and jobs we have ever seen. In just four weeks, 22 million people in the U.S. have become newly unemployed. Imagine every California employee losing their job in one month.
Biologically, success is living. While living isn’t the measure of success in business, a company dying certainly is a failure. Companies are walking a tightrope between life and death right now, and many more perish each day that current business conditions continue. But as business owners, we can’t and won’t let down our customers, investors or colleagues.
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Amazon is ramping up its efforts to lease retail real estate for its in-the-works physical grocery store concept, which will be larger than existing Amazon Go cashierless stores and carry a wider variety of merchandise.
Amazon has inked agreements-in-principle with an unidentified REIT for "dozens and dozens" of leases nationwide, S&P Global reports, citing Brick Meets Click Chief Architect Bill Bishop.
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ATLANTIC CITY, N.J. — The coronavirus could be a literal game changer once America's casinos reopen.
Many decisions remain to be made. But prepare to have your temperature scanned at the door. Maybe a half or third of slot machines will work. Every other table could be closed, and there could even be plexiglass barriers between dealers and customers or separating slot machines.
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The world has changed dramatically in a few short months. Among other things, U.S. unemployment numbers skyrocketed and the unemployment rate has more than doubled its Great Recession peak in 2009. But while commercial real estate’s upward trend of industry growth may have halted along with more or less everything else at the arrival of the coronavirus pandemic, there is reason to believe an unmeetable demand for talent is on the horizon.
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(Bloomberg)—A deal is a deal, except for a growing number of companies that agreed to buy assets before the Covid-19 pandemic sent markets plunging.
Panicked executives already have launched a handful of legal battles that could blow up billions of dollars’ worth of merger and acquisition agreements. And litigators predict at least a dozen more limping deals will crash land in courts over the next few months.
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Twin River Worldwide Holdings (NYSE:TRWH) may be committing highway robbery. That’s apparent in its purchases of the Eldorado Shreveport Resort and Casino in Louisiana, the MontBleu Resort Casino in Lake Tahoe, Nevada from Eldorado Resorts (NASDAQ:ERI) and Bally’s Atlantic City from Caesars Entertainment (NASDAQ:CZR).
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For real estate investment trusts, falling share prices, dropping real estate values and shrinking rent payments may feel like deja vu to 2009. But with the scars from the Great Recession still fresh among executives, many experts say REITs are in better shape today to weather the downturn.
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If you’re like me, you’re a bit stupefied at how the world has completely changed in a few short weeks. And you dread what it’s going to look like once the threat of coronavirus dies down. So many small businesses have been impacted, and the small business landscape is going to be forever changed.
I’ve had my moments of despair, as have we all, but I find myself looking for the silver lining. There are always lessons to be learned in chaos; it’s up to us whether we heed them or not.
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MGM Resorts International has canceled room reservations at its Las Vegas properties through May 21, a company spokesman said on Friday.
All nonessential businesses in Nevada were temporarily shuttered March 17 by Gov. Steve Sisolak over the global COVID-19 pandemic, which has claimed more 200 lives statewide. Sisolak’s order was extended through April 30 and is likely to be extended further.
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