- Libor Transition Vexes Collateralized Loan Obligations Market “CLOs, the largest sources of demand for speculative-grade loans, have been one of Wall Street’s hottest products. Sales hit a record $131 billion earlier this month, topping the previous full-year record, with investors attracted to the debt’s relatively high yields. But a typical CLO comprises hundreds of loans pegged to already-varied rates, making the market one of the most difficult to shift.” (The Wall Street Journal)
- Dogs In The Office: The New Normal We Didn't Expect “Top tips included making sure every flea treatment is up to date, creating special feeding and drinking places in the workplace so that offices don’t turn into messy dog-controlled zones, and making sure that somewhere nearby — maybe in another office or outside — there is a suitable doggie washroom.” (Bisnow)
- CoStar profits up, but demand for apartment ads sinks “The real estate data giant recorded $64 million in net income for the quarter, up 4.9 percent from $61 million in the second quarter, the company reported Tuesday afternoon. Third-quarter profits were up about 10 percent on a year-over-year basis.” (The Real Deal)
- Chicago is at risk as climate change causes wild swings in Lake Michigan water levels “While the lakes don’t exactly correlate to rising sea levels, Chicago now sits in just as precarious a position as oceanfront cities. Heavier rainfall and more frequent droughts are now causing extreme swings in the water levels of Lake Michigan and the Chicago River, wreaking havoc on the city and prompting urgent action to find a fix.” (CNBC)
- CBL Properties Anticipates Relisting on the NYSE Following Emergence From Chapter 11 “CBL expects trading to commence November 2, 2021, under the symbol ‘CBL.’” (Via press release)
- Netflix Eyes New Jersey Army Base for Major Production Hub “The Fort Monmouth Economic Revitalization Authority has appraised the site at $54 million, but several developers previously offered more than $100 million for just 89 acres of the land in consideration. (Those plans fell through.) Netflix said in a statement that it would transform Fort Monmouth into a “state-of-the-art production facility,” indicating a mix of soundstages, postproduction buildings and backlot filming areas.” (The New York Times)
- Sweetgreen files IPO; plans to double store footprint “Founded in 2006, Sweetgreen has 140 restaurants in 13 states and Washington D.C. In its filings with the Securities and Exchange Commission, the company said that it planned to double its footprint during the next three to five years, opening in at least two to three new markets each year for the next three years.” (Chain Store Age)
- McDonald’s, Coca-Cola Power Through Despite Inflation “Unlike in 2020, the increase in organic sales this time was due entirely to price increases rather than underlying volumes, which were essentially unchanged from a year earlier. This is positive since it shows the company has the pricing power to pass through inflationary pressures on to consumers. Strikingly, the company’s gross margins, while down from last year, are around the same level as before the pandemic at 32%.” (The Wall Street Journal)
- Hard Rock considering two NYC-area casinos 8 miles apart “New York has three remaining casino licenses to be awarded in the downstate region that includes New York City, which has long been the holy grail for the casino industry, given the region's population and wealth. Speaking at the East Coast Gaming Congress in Atlantic City, Allen said Hard Rock has been planning a New York project ever since the possibility was announced seven years ago.“(The Associated Press)
0 comments
Hide comments
