PPCC: Pisitófilos Creditófagos. Invierno 2024

[Cadavre Exquis]

https://www.diariovasco.com/sociedad/cataluna-adelanta-euskadi-empezara-limitar-febrero-precio-20240111200401-nt.html

Saludos.

[Cadavre Exquis]

https://elpais.com/espana/catalunya/2024-01-11/la-generalitat-anuncia-que-la-regulacion-de-precios-del-alquiler-entrara-en-vigor-en-febrero-en-cataluna.html

Saludos.

[Derby]

Que cada palo aguante su vela...

https://www.vozpopuli.com/economia_y_finanzas/jovenes-sueldos-hogares.html

Los jóvenes, más pobres que nunca: la mitad no llega a final de mes y ganan un 35% menos que el resto de España

El estudio 'Presente y futuro de la juventud española', publicada por la Fundación BBVA y el Instituto Valenciano de Investigaciones Económicas, además de la Encuesta de Condiciones de Vida del INE, dibuja un panorama desolador para los españoles entre 16 y 29 años

Los jóvenes españoles, por muchas soflamas que nos quieran vender desde las instituciones del Gobierno, siguen siendo el colectivo más desfavorecido de toda la pirámide poblacional en nuestro país. Hace unos meses, contamos en Vozpópuli que España era el país de la OCDE con menos poder adquisitivo, muy lejos de naciones como Francia e Italia, prácticamente vecinas en el tablero geográfico.

Esto, dicho así, es difícil de asimilar, pero si nos paramos a analizar qué grupo resulta más perjudicado de la pésima situación económica que atraviesa España, es aún peor. El INE cuenta con decenas de indicadores que dibujan el panorama de los españoles. Uno de los más esclarecedores es la renta anual neta media por persona y unidad de consumo de los hogares.

En ella, si miramos el periodo que va desde 2008 a 2022, la franja de edad que más poder adquisitivo ha perdido en los últimos tres lustros es la que va desde los 16 a los 29 años de edad. Su poder adquisitivo ha decaído un 11,2%. Los bajos salarios, el caro nivel de vida, la brutal inflación y la falta de estabilidad sigue empujando a los más jóvenes a ver sus esperanzas de prosperar muy reducidas.

Los jóvenes viven peor que el resto

En un país serio, o al menos que se respete a sí mismo, atajar la paupérrima situación de los jóvenes debería ser una prioridad nacional. A tenor de las últimas medidas y pactos políticos en España, esto está lejos de ocupar la primera plana. En los últimos días, hemos conocido el resultado de un estudio titulado 'Presente y futuro de la juventud española', desarrollado por la Fundación BBVA y el Instituto Valenciano de Investigaciones Económicas.

Desde ambas instituciones han vuelto a poner el foco en la renta por unidad de consumo y la Encuesta de Condiciones de Vida del INE. Del primer indicador, el análisis dicta que los jóvenes entre 16 y 29 años, principales sustentadores de la renta por unidad de consumo, poseen una renta un 15 por ciento inferior a la media del país.

Además, observando la citada Encuesta de Condiciones de Vida, el 53,2% de los jóvenes de esa franja tienen serias dificultades para llegar a final de mes, 5,4 puntos porcentuales por encima del promedio de la población.

No importa la formación ni los estudios que los jóvenes hayan cursado a lo largo de su vida, les sigue resultando muy difícil ganarse la vida y vivir dignamente. La mitad de las personas entre 25 y 29 años posee estudios superiores, universitarios o de formación profesional superior, cuatro veces más que en 1980.

El estudio apunta que, aunque los jóvenes españoles entre los 16 y los 29 años tienen rasgos generacionales comunes, los factores socioeconómicos de origen y, "muy especialmente", la formación alcanzada, marcan diferencias entre los mismos en sus posibilidades de inserción laboral.

A grandes rasgos, las personas jóvenes están más expuestas a los vaivenes del ciclo económico y la calidad media de sus ocupaciones es peor. Dentro del informe se habla de cuatro perfiles diferentes de jóvenes, diferenciados por su situación personal y las oportunidades de las que disfrutan.

Existen un millón de 'ninis', aquellos jóvenes que no estudian ni trabajan, el cual componen el 14% del grueso de este grupo. En las antípodas tenemos a los que han contado con un entorno familiar o escolar favorable, han alcanzado estudios universitarios y disfrutan de trabajos cualificados, contratos estables y salarios elevados.

Sueldos un 35% inferiores

Pese a que el estudio profundiza bastante en muchos aspectos socioeconómicos de los jóvenes, tratando de dar una explicación veraz y constatada del porqué están cómo están en pleno 2024, vamos a destacar un apartado más que es muy significativo. El 25,4% de jóvenes trabaja con contratos a tiempo parcial, 12 puntos por encima de la media del conjunto de la población, y la tasa de temporalidad de la juventud ocupada también dobla el promedio.

No solo eso, es que los salarios de los jóvenes de entre 16 y 29 años son un 35% inferiores a la media y el progreso de sus ingresos a lo largo de la vida laboral está siendo más lento. Mientras las cohortes anteriores alcanzaban una base de cotización similar a la media antes de los 27 años, actualmente, los adultos jóvenes a los 34 años todavía no la han alcanzado.

En torno a esos promedios existen diferencias. Los jóvenes menos formados tienen menos posibilidades de conseguir buenos empleos y progresar, tanto en estabilidad laboral como en salario, y las mayores ventajas las consiguen los que tienen estudios superiores.

Los jóvenes que decidieron cursar grados superiores de Formación Profesional, logran salarios medios un 11,3% mayores que los jóvenes con sólo hasta educación obligatoria y los universitarios consiguen empleos un 33,8% mejor remunerados.

Parte de las ventajas salariales de los jóvenes más cualificados se derivan de su preparación para ocupar puestos de trabajo que requieren conocimientos avanzados en competencias que los mayores no pudieron adquirir. Gracias a ello, en el empleo joven de 25 a 29 años pesan más los puestos más cualificados (38,7%) que en el conjunto de los ocupados (35,6%).

Como ven, la pandemia de pobreza e inestabilidad que viven los jóvenes en España es apabullante, y no tiene pinta de que a corto o medio plazo vayan a tener ninguna solución para poder salir del pozo. Es más, el poder adquisitivo de los españoles citados entre 16 y 29 años va a ir a menos, llegando a situaciones impensables hace unas décadas, cuando los padres de estas mismas personas tuvieron que afrontar la edad adulta. Una España peor que hace tres décadas.

PS Such a shame! https://www.youtube.com/watch?v=RbzHabqG7lk

[Derby]

https://finance.yahoo.com/news/bad-office-loans-mount-bank-205344619.html

Bad Office Loans Mount at Bank of America, Wells Fargo

(Bloomberg) -- Major US lenders, including Bank of America Corp. and Wells Fargo & Co., wrote off more of their commercial-property loans as remote work and higher interest rates pummel the valuations of US offices.

Net charge-offs at Bank of America and Wells Fargo rose during the fourth quarter partly due to office loans, according to earnings releases Friday. JPMorgan Chase & Co. set aside more reserves because of a deteriorating outlook on commercial-property valuations, the bank reported Friday.

Banks have been grappling with fallout from climbing office vacancies in the aftermath of the pandemic and financing costs that have soared as the Federal Reserve raised interest rates. That’s caused a 35% decline in office prices from a peak in early 2022, according to real estate analytics firm Green Street.

The challenges won’t likely let up soon. Bank of America has about $7.6 billion of office loans maturing in 2024, and $3.1 billion in 2025, according to a presentation. While about 75% of its office loans are backed by higher-quality buildings, its percentage of non-performing office loans ticked up during the fourth quarter.

At Wells Fargo, non-accrual loans for offices totaled $3.4 billion at the end of December, up from $2.8 billion at the end of September and $186 million a year ago. The vast majority of Wells Fargo’s property loans that were considered non-accrual at the end of 2023 were backed by offices.

“As expected, losses started to materialize in our commercial real estate office portfolio as market fundamentals remained weak,” Wells Fargo Chief Financial Officer Michael Santomassimo said Friday on a call with investors. “While the charge-offs we took in the fourth quarter were contemplated in our allowance, we are still early in the cycle.”

Commercial-property loans accounts for 16% of the Wells Fargo’s total loans at the end of December. At Bank of America, the share was 6.9%.

PS. En octubre Dimon vendió parte sus acciones del banco que él dirije... https://www.reuters.com/business/finance/jpmorgan-ceo-dimon-sell-some-his-stake-2024-2023-10-27/

[Derby]

https://www.bloomberg.com/news/articles/2024-01-13/china-housing-slump-to-continue-into-2025-says-ex-pboc-official

China Housing Slump to Continue Into 2025, Says Ex-PBOC Official

Home sales will fall further this year and next, Sheng says
Green shoots emerged in November and December, he adds

China’s property downturn may continue for two more years before gaining stability, according to a former central bank official.

New-home sales nationwide will likely shrink by another 50 million square meters both this year and next year, with 2025’s annual total plateauing at around 850 million square meters, Sheng Songcheng, a former director of the People’s Bank of China’s statistics and analysis department, said at a forum in Shanghai on Saturday. The battered industry will stop being a drag on investment and economic growth after that, he added.

Sheng’s comments came as the slide in Chinese home sales accelerated in December even after authorities rolled out more support measures that included relaxing homebuying curbs in major cities. The country’s unprecedented housing slump has cost the economy a key growth engine in the past three years and heightened financial risk following a record wave of defaults by developers.

The property market saw green shoots in November and December, putting full-year nationwide sales at around 950 million square meters, Sheng said at the Saturday forum. That would mean the pace of sales decline moderated by a half in 2023 from a year earlier, according to Sheng’s estimates.

[Derby]

https://www.nytimes.com/2024/01/13/business/college-dropout-debt.html

For Some Young People, a College Degree Is Not Worth the Debt

Because of high costs, some high school graduates have opted to delay, drop out of or forgo attending college all together to avoid student debt that could hang over them for decades.

[Benzino Napaloni]

Que cada palo aguante su vela...

https://www.vozpopuli.com/economia_y_finanzas/jovenes-sueldos-hogares.html

Los jóvenes, más pobres que nunca: la mitad no llega a final de mes y ganan un 35% menos que el resto de España

Luego, faltan electricistas, carniceros, y hasta médicos. Va a trabajar su puta madre.

Antes de la crisis financiera, allá por 2006, los mejor informados ya sabían que el tinglado iba a reventar tarde o temprano. Se acabaron descubriendo emails diciendo "ojalá estemos fuera antes de que reviente todo".

Esto mismo es lo que está haciendo ya más de un jubilado. Saben que se han pasado de rosca. Saben que los servicios (públicos y privados) han empezado a deteriorarse por personal insuficiente. Más de uno espera estar muerto para cuando el agujero ya sea imposible de esconder.

Yo apuesto más por palomitas que por latunes.

[senslev]

En el mierdismo no se puede salir de la base de la pirámide de Maslow de por vida.

[Derby]

https://finance.yahoo.com/news/property-group-signas-retail-foray-150925842.html

Property group Signa's retail foray was a mistake, senior executive says

VIENNA (Reuters) - It was a mistake for Austrian property group Signa to venture into the retail business, since that cost it capital that was sorely missing when it tried to stave off insolvency, executive Alfred Gusenbauer said in comments broadcast on Saturday.

Gusenbauer, a former leader of the Social Democrats and Austrian chancellor, was one of the most senior executives in the complex constellation of around 1,000 companies that make up Signa, the biggest casualty so far of the woes afflicting Europe's property sector.

Signa's holding company filed for insolvency in November with around 5 billion euros ($5.5 billion) in debt. Various units have since followed suit. Signa has high-profile projects and department stores across Germany, Austria and Switzerland.

"I think venturing into retail was a mistake," Gusenbauer told ORF radio in an interview. He is supervisory board chairman of the heavyweight Signa Prime Selection and Signa Development divisions and was on the recently dissolved group advisory board of Signa Holding that included Signa's founder Rene Benko.

He pointed to issues such as the COVID-19 pandemic, the war in Ukraine, rampant inflation and the European Central Bank's interest rate increases as having hurt the property market and contributed to its cash shortage.

"The changes in the market environment led to an acceleration of a situation that would have required additional capital. Unfortunately, that was not available as Signa had embarked on this retail adventure, which cost us more than a billion euros," Gusenbauer said.

Signa's German department store Galeria Karstadt Kaufhof filed for insolvency this week for the third time in recent years. Signa also recently sold Austrian furniture chain Kika/Leiner and its stake in department store chain Selfridges in Britain.

It is also part-owner of Swiss department store chain Globus.

"You haven't mentioned the biggest bankruptcy in that context. That was Signa Sports United," Gusenbauer added, referring to an online sports retail venture which he said had cost Signa "roughly 800 million euros in cash".

[Cadavre Exquis]

https://www.pressreader.com/spain/la-razon-1-edicion1/20240112/page/23/textview

Los topes de alquiler se aplicarán desde febrero

Saludos.

[Cadavre Exquis]

https://www.larazon.es/medio-ambiente/geotermia-profunda-abre-paso-espana_2024011265a1222c872b8200012c1d32.html

Saludos.

[Cadavre Exquis]

https://www.abc.es/espana/cataluna-comunidad-espanola-extranjeros-legales-paro-20240112040726-nt.html

Saludos.

[Cadavre Exquis]

https://twitter.com/sergiosarriarui/status/1745725756217442606

Saludos.

[senslev]

https://x.com/sninobecerra/status/1746286130272559375?s=20

Cuántas vueltas tendrá la tuerca esta.

https://www.publico.es/economia/airbnb-ofrece-dormir-tiendas-campana-sala-piso-londres-80-euros-noche.html#md=modulo-portada-bloque:4col-t2;mm=mobile-big

[Cadavre Exquis]

WSJ: Boeing's Fuselage Factory 'Plagued' by Production Problems and Quality Lapses
Posted by EditorDavid on Saturday January 13, 2024 @01:43PM from the checking-your-work dept.

"Long before the harrowing Alaska Airlines blowout on January 5, there were concerns within Boeing about the way the aerospace giant was building its planes," reports the Wall Street Journal.

There's been issues with various models — like "misdrilled holes, loose rudder bolts, and this month's MAX 9 door-plug blowout" — but many can be traced back to the outsourcing Boeing and other aerospace companies adopted more than 20 years ago where key pieces are built elsewhere and then assembled at Boeing. And the Journal reports that the door-plug was built at a factory that Boeing owned until 2005, now run by Spirit AeroSystems, that "has been plagued by production problems and quality lapses since Boeing ceded so much responsibility for its work... "

Spirit is the sole supplier of the fuselages used in many Boeing jets, including the Alaska plane that made the emergency landing. It is heavily dependent on Boeing for revenue, and the two companies have battled for years over costs and quality issues. The earlier MAX grounding and Covid-19 pandemic sapped Spirit's finances, and the company slashed thousands of jobs, leaving it short-handed when demand bounced back. Some Spirit employees said production problems were common and internal complaints about quality were ignored. In a given month, at a production rate of two fuselages a day, there are 10 million holes that need to be filled with some combination of bolts, fasteners and rivets. "We have planes all over the world that have issues that nobody has found because of the pressure Spirit has put on employees to get the job done so fast," said Cornell Beard, president of the International Association of Machinists and Aerospace Workers chapter representing workers at Spirit's Wichita factory... Alaska Airlines and United Airlines say they have found loose hardware on other MAX 9 jets they have checked, suggesting that problems go beyond one plane...

The company, which had 15,900 workers in four U.S. factories at the end of 2019, laid off thousands of people in Wichita at the height of the pandemic. When it needed to ramp back up, not only did Spirit have fewer people on site, the company had lost years of expertise. There were fewer experienced mechanics, but also fewer experts who could inspect the quality of their work. [Spirit CEO Pat Shanahan ] said the quick production ramp-up and the earlier MAX grounding left the company short of experienced workers. "When you have disruption, you have instability," he said...

For more than a decade, Spirit and Boeing battled over costs, quality and the pace of production. Boeing's demands for lower prices left Spirit strapped for cash as managers panicked over meeting increasingly demanding deadlines. Boeing routinely had employees on the ground in Wichita and conducted audits of the supplier. The result, some current and former employees say: a factory where workers rush to meet unrealistic quotas and where pointing out problems is discouraged if not punished. Increasingly, they say, planes have been leaving Wichita with so-called escapements, or undetected defects. "It is known at Spirit that if you make too much noise and cause too much trouble, you will be moved," said Joshua Dean, a former Spirit quality auditor who says he was fired after flagging misdrilled holes in fuselages. "It doesn't mean you completely disregard stuff, but they don't want you to find everything and write it up." His account is included in a shareholder lawsuit filed in December against Spirit that alleges the company failed to disclose costly defects.

A Spirit spokesman said the company strongly disagrees with the assertions and intends to defend against the suit...

After being laid off during the pandemic shutdown, Dean returned to Spirit in May 2021. By then, he said, the company had lost many of its most experienced mechanics and auditors. Spirit already was under more intense scrutiny from Boeing. The jet maker placed Spirit on a so-called probation, in which the company more closely scrutinized the supplier's work. To get off probation, Spirit needed to reduce the number of defects on the line. At one point, Dean said, the company threw a pizza party for employees to celebrate a drop in the number of defects reported. Chatter at the party turned to how everyone knew that the defect numbers were down only because people were reporting fewer problems.

On the Spirit factory floor, some machinists building planes say their concerns about quality rarely get conveyed to more senior managers, and that quality inspectors fear retaliation if they point out too many problems. Union representatives complained to leaders last fall that the company removed inspectors from line jobs and replaced them with contract workers after they flagged multiple defects.

Two key quotes from the article:

• "As some problems on both the 787 and 737 were traced back to Spirit, Boeing executives said in 2023 that the plane maker would be ratcheting up oversight of the supplier it once owned."
• New FAA chief Mike Whitaker said "Whatever's happened over the previous years — because this has been going on for years — has not worked." When it comes to what caused last week's in-flight incident, "All indications are it's manufacturing."

US Regulator Considers Stripping Boeing's Right To Self-Inspect Planes
Posted by BeauHD on Friday January 12, 2024 @08:25PM from the latest-developments dept.

After a 737 Max door panel blew out over Portland, Oregon, last week, the Federal Aviation Administration ordered the temporary grounding of Boeing 737 Max 9 aircraft until emergency inspections were performed. "Alaska and United Airlines, which operate most of the Max 9s in use in the United States, said on Monday that they discovered loose hardware on the panel when conducting preliminary inspections on their planes," reported the New York Times. Now, U.S. aviation regulators say they may strip Boeing of its right to conduct some of its aircraft inspections. The Financial Times reports:

Mike Whitaker, FAA administrator, said the agency was "exploring" its options for using an independent third-party to oversee inspections of Boeing's aircraft and its quality controls. "It is time to re-examine the delegation of authority and assess any associated safety risks," he said. "The grounding of the 737-9 and the multiple production-related issues identified in recent years [at Boeing] require us to look at every option to reduce risk."

The regulator also said it plans to immediately increase its oversight of Boeing's production. The FAA opened an investigation on Thursday into whether the planes Boeing builds match the specifications it has laid out. The FAA said it will audit the 737 Max 9 production line and its suppliers "to evaluate Boeing's compliance with its approved quality procedures," with further audits conducted as necessary.

Washington Senator Maria Cantwell sent a letter (PDF) yesterday to the FAA questioning the agency's role in inspecting aircraft manufactured by Boeing. Cantwell said she asked a year ago for an audit of certain areas related to Boeing's production, and the regulator told her it was unnecessary. "Recent accidents and incidents -- including the expelled door plug on Alaska Airlines flight 1282 -- call into question Boeing's quality control," she said. "In short, it appears that FAA's oversight processes have not been effective in ensuring that Boeing produces aeroplanes that are in condition for safe operation."

Saludos.