Implode-Explode Heavy Industries news feed Tracking the many faces of the global credit implosion. en-us iehi-feed-65796 Sun, 04 Jun 2023 18:06:29 GMT Is Mark Stopa A Fugitive On The Run From The FDLE? iehi-feed-65795 Fri, 02 Jun 2023 21:36:16 GMT The Curse of Stopa Stink Breath iehi-feed-65794 Fri, 02 Jun 2023 21:34:46 GMT Did The Mark Stopa Crime Family Start A New Business? iehi-feed-65793 Fri, 02 Jun 2023 21:32:37 GMT Is Mark Stopa On the Run To Evade Arrest By FDLE? iehi-feed-65792 Fri, 02 Jun 2023 21:30:28 GMT Mark Stopa Copycat Attorney Gets 10 Years in Prison iehi-feed-65791 Wed, 24 May 2023 23:51:25 GMT ‘Persistent' Remote Work Could Slash Office Values By 44% Academics from New York University and Columbia University published a report last summer predicting that New York City office values would drop 28% by 2029, representing value destruction of $49B. In an update released this month, the authors now project an average value drop of 43.9% from 2019 to 2029.

In just a three-year period between 2019 and 2022, office buildings nationally have lost roughly $506.3B in value, according to the researchers. Office buildings lost $69.6B in New York, $32.7B in San Francisco and $5.1B for Charlotte, they wrote.

"The primary reason for the change is that we now estimate a more persistent work from home regime than before," Arpit Gupta, an associate professor of finance at New York University's Stern School of Business and one of the co-authors of the report, wrote in an email...

While apartment rents in the city have climbed to record highs as the city recovers its residents, office usage has failed to follow suit. Office occupancy in New York remains below 50%, according to Kastle Systems data, and landlords are feeling the pain as a result.

SL Green, the city's largest office landlord, is facing a credit downgrade, while Vornado has said it will stop paying dividends to owners of its common shares for the rest of 2023 as it seeks to shore up its finances.

Large employers like JPMorgan Chase and Amazon have in recent months put in place return-to-office mandates, and a recent CBRE U.S. office occupiers survey found 65% of the companies now require employees to return to the office at least some of the time. But that has not affected investors' views, with the biggest publicly traded office landlords experiencing significant slides in their stock prices and an increase in short sellers.

"The key takeaway from our analysis is that remote work is shaping up to massively disrupt the value of commercial office real estate in the short and medium term," the authors wrote in the report. "This conclusion is consistent with our finding that firms appear to demand substantially less office space when they adopt hybrid and remote work practices, and that such practices appear to be persistent.

iehi-feed-65790 Fri, 12 May 2023 00:41:57 GMT Lunatic Mark Stopa Doxes Himself in Court Filing iehi-feed-65789 Thu, 04 May 2023 13:50:07 GMT First Republic Collapse Was Caused By Interest-Only Jumbo Loans iehi-feed-65788 Tue, 02 May 2023 18:32:35 GMT Here's how the debt limit fight could impact the banking crisis iehi-feed-65787 Tue, 02 May 2023 17:00:12 GMT PacWest, Western Alliance Stocks Lead Renewed Regional Bank Selloff PacWest Bancorp and Western Alliance Bancorp led the big selloff in regional lenders Tuesday, as renewed fears over the health of the financial system hit Wall Street after the second-largest US bank failure ever. 

Trading in both firms triggered multiple volatility halts after PacWest fell as much as 42% while Western Alliance plunged 27%. The KBW Regional Banking Index dropped as much as 7%, the most since the crisis that engulfed Silicon Valley Bank in March. 

Charles Schwab Corp., a brokerage with a banking arm that's come under pressure in the recent rout, sank 5.3%. Comerica Inc. and Zions Bancorp. each fell more than 10%.


Part of what's driving bank shares down is the fact that many regional bank investors assumed the Federal Deposit Insurance Corp. would announce a change to deposit insurance alongside its announcements about the First Republic receivership process, said Gary Tenner, an analyst at DA Davidson. The level of uninsured deposits at Silicon Valley Bank and Signature played a key role in the bank runs that led to their downfall.

iehi-feed-65786 Mon, 01 May 2023 20:31:15 GMT Mark Stopa's Book People v. Money Gets New Life In Sudan iehi-feed-65785 Mon, 01 May 2023 15:18:28 GMT First Republic Bank Is Seized by Regulators and Sold to JPMorgan Chase - The New York Times Regulators seized control of First Republic Bank and sold it to JPMorgan Chase on Monday, a dramatic move aimed at curbing a two-month banking crisis that has rattled the financial system.

First Republic, whose assets were battered by the rise in interest rates, had struggled to stay alive after two other lenders collapsed last month, spooking depositors and investors.

First Republic was taken over by the Federal Deposit Insurance Corporation and immediately sold to JPMorgan. The deal was announced hours before U.S. markets are set to open, and after a scramble by officials over the weekend.

Later on Monday, 84 First Republic branches in eight states will reopen as JPMorgan branches.

JPMorgan will "assume all of the deposits and substantially all of the assets of First Republic Bank," the F.D.I.C. said in a statement. The regulator estimated that its insurance fund would have to pay out about $13 billion to cover First Republic's losses. JPMorgan also said that the F.D.I.C. would provide it with $50 billion in financing.

iehi-feed-65784 Wed, 26 Apr 2023 14:35:06 GMT Mark Stopa Admitted To Fasting. Is He Prepping For Prison Life? iehi-feed-65783 Mon, 24 Apr 2023 21:50:51 GMT Angry White Republicans Want To Restrict Foreign RE Purchases In Florida iehi-feed-65782 Sat, 22 Apr 2023 17:33:55 GMT Rocket Mortgage Fraud Lawsuit Can Proceed Says Federal Judge iehi-feed-65781 Fri, 21 Apr 2023 16:03:52 GMT Dan Gilbert Insider Trading Accusations Rattle Rocket Mortgage iehi-feed-65780 Fri, 21 Apr 2023 01:50:59 GMT CFPB Opinion Says Google May Be Violating Section 8 Of RESPA iehi-feed-65779 Thu, 20 Apr 2023 22:54:30 GMT El-Erian: It's a Credit Contraction, Not a Credit Crunch iehi-feed-65778 Thu, 20 Apr 2023 15:04:34 GMT Trigger Leads Ban Supported By NAMB iehi-feed-65777 Thu, 20 Apr 2023 03:39:47 GMT Human Whoopee Cushion Mark Stopa Is A Deflated Loser