Originally Posted by
Andy
Things are worse because the future bookings that they planned on didn't materialize. Plus a lot of cancellations.
So the $25M/day cash burn in Q3 will end up being too optimistic.
You're glossing over other problems that are starting to surface. Take a look at loan delinquencies. Main street is showing severe economic distress.
https://www.mba.org/2020-press-relea...%20Delinquency
Note:
The nearly 4 percentage point jump in the delinquency rate was the biggest quarterly rise in the history of MBA's survey,
Worst increase in the history of MBA's survey. That goes back to 1990.
I think we’re talking apples and oranges here. On a macro level the economy is on the brink of fiscal catastrophe. I don’t doubt post election, regardless of the victor, spending will be reigned in since there will be no need to buy votes. However, at some point the narrative will change on Covid-19. The reality that covid is not the doomsday virus most thought it was will become evident. Therapies and vaccines will only aid to dissipate fear.
My point is the company has been shouting from the mountain tops the unprecedented drop in revenue. Yet, been coy about the reduction in costs. TSA numbers are higher for Q3 vs Q2. Cares money will run through the quarter, which for q2 was accounted for in the cash burn.
What is become evident is our management team is truly more concerned about the bottom line than our peers. Core4 and all.