DAILY UPDATE: Senior Care Facility Bankruptcies Up with Recession Life Spans?

By Staff Reporters

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Financial hardship has led dozens of operators of senior facilities to file for bankruptcy over the past three years, with 13 companies filing petitions in 2021, 12 debtors filing in 2022 and 15 more in 2023, according to Gibbins Advisors.

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Notable Chapter 11 filings over the past year have included Evangelical Retirement Homes of Greater Chicago, which filed Chapter 11 in the U.S. Bankruptcy Court for the Northern District of Illinois in June 2023 to sell its assets at auction. Also, Windsor Terrace Health, an operator of 32 nursing homes in California and three in Arizona, filed its petition in the U.S. Bankruptcy Court for the Central District of California in August 2023 listing $1 million to $10 million in assets and liabilities and unable to pay its debts.

CITE: https://www.r2library.com/Resource/Title/082610254

More recently, Magnolia Senior Living, an operator of four facilities in Georgia, filed for Chapter 11 protection on March. 19 in the U.S. Bankruptcy Court for the Northern District of Georgia.

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The Great Recession of 2008 had a lot of downsides: People lost homes, jobs, and retirement savings, had their careers derailed, and were forced to learn what the heck synthetic collateralized debt obligations are. But according to recent research, it also made people in the US live longer.

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INVESTING: Putting a Charge Back into the EV Market

By Vitaliy Katsenelson CFA

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Over the last few months, electric car sales seem to have gone from hot to cold. Hertz is dumping 20% of its 100,000 Tesla fleet, and Ford is cutting production of its F-150 Lightning. Tesla has gone from raising prices to cutting them. In fact, Tesla is reducing prices so much that the CEO of Stellantis (a merger between Fiat and Peugeot) has expressed concern that if other automakers join Tesla CEO Elon Musk in implementing similar cuts, it will result in a bloodbath for the industry.

And so, are electric cars a fad, like beanie babies, pet rocks, or fidget spinners?
The short answer is no. The full answer comes with a lot of nuance. READ HERE:

Putting a Charge Back into the EV Market

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