April 22, 20206 yr UK has $70M shortfall. Layoffs, furloughs coming. I can only imagine that other state and private universities will be similar shape with similar consequences.
April 22, 20206 yr UK has $70M shortfall. Layoffs, furloughs coming. I can only imagine that other state and private universities will be similar shape with similar consequences. Looks to me like some creative accounting.
April 22, 20206 yr WTI (oil) is NEGATIVE, pure insanity. It’s currently worth less than nothing! This is history right before our very eyes. And it's not even close. -$37 a barrel. They literally can't give it away. I am enjoying this. The people getting hurt by this are the financial market profiteers. They profit off of moving money around but now they have financial commitments they can't move. They means they have to pay the oil suppliers money to keep the oil.
April 22, 20206 yr I am enjoying this. The people getting hurt by this are the financial market profiteers. They profit off of moving money around but now they have financial commitments they can't move. They means they have to pay the oil suppliers money to keep the oil. I was trying to figure out what it meant to go negative. The speculators trade the contracts up until the time delivery is due. And they were left holding the barrels here and as you state - had to pay since speculators only job is to speculate and they own no oil-holding facilities. I had to recall that it was said that a barrel of oil is sold up to 50 times before it comes out of the ground. This has me going back and watching segments of The Big Short on YT.
April 22, 20206 yr Looks to me like some creative accounting. Not sure what this would mean. The universities took hits with tuition, housing - all of which was refunded to some extent. At UK housing is more than tuition with all those new dorms. If the university did not get any relief from those landlords of those then that is a good chunk right there. Also, the state will not be able to help. The state overall probably has a far worse problem with a drastic cut in sales tax revenue and income tax revenue.
April 22, 20206 yr Not sure what this would mean. The universities took hits with tuition, housing - all of which was refunded to some extent. At UK housing is more than tuition with all those new dorms. If the university did not get any relief from those landlords of those then that is a good chunk right there. Also, the state will not be able to help. The state overall probably has a far worse problem with a drastic cut in sales tax revenue and income tax revenue. I bet they expect no sports too. That's a lot of lost revenue there.
April 23, 20206 yr UK has $70M shortfall. Layoffs, furloughs coming. I can only imagine that other state and private universities will be similar shape with similar consequences. 1,500 Mostly furloughs (no pay, but not fired). UK will pay medical insurance for 90 days.
April 24, 20206 yr I think this recession/depression will last into 2022. The economy coming back appears to be a very bumpy road for everyone. I still don’t think we’ve seen the worst of it.
April 24, 20206 yr The economy coming back appears to be a very bumpy road for everyone. I still don’t think we’ve seen the worst of it. Agreed. Save your chicken.
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