Category: Shutdowns (Institutional)

Southwest Lost $220 Million Because of Holiday Meltdown

The New York Times – Travel:
The airline canceled 16,700 flights before and after Christmas as it struggled to recover from bad weather.
Noma, Rated the World’s Best Restaurant, Is Closing Its Doors

The New York Times – Business:
The Copenhagen chef René Redzepi says fine dining at the highest level, with its grueling hours and intense workplace culture, has hit a breaking point: “It’s unsustainable.”
Tesla Sales in China Slump as Competition Intensifies

The New York Times – Business:
Worry about the carmaker’s sales in the world’s largest car market is one reason the shares have plunged.
Japan’s Business Owners Can’t Find Successors. This Man Is Giving His Away.

The New York Times – Business:
An owner’s struggle in Japan’s northern dairy region illuminates one of the potentially devastating economic impacts of an aging society.
Southwest and Other Airlines Cancel Thousands of Flights Across the US

The New York Times – Travel:
The company canceled more than 60 percent of its flights on Tuesday and Wednesday, leaving many travelers stranded.
Jeep Plant Shutdown Imperils Illinois Town and 1,350 Workers

The New York Times – Business:
Stellantis plans to idle the factory, which makes the Cherokee, as it shifts to electric vehicles. Labor talks and a union election may be affected.
A Rural Hospital’s Excruciating Choice: $3.2 Million a Year or Inpatient Care?

The New York Times – Business:
A new federal program offers hefty payments to small hospitals at risk of closing. But it comes with a bewildering requirement: to end all inpatient care.
A Long Road to Renewal for Former Military Bases

The New York Times – Business:
Closed defense sites are like snowflakes in that no two are alike. The efforts to redevelop two New Jersey forts show the obstacles to revitalization.
China Eases ‘Zero Covid’ Restrictions in Victory for Protesters

The New York Times – Business:
Beijing’s costly policy of lockdowns has pummeled the world’s second-largest economy and set off mass public protests that were a rare challenge to China’s leader, Xi Jinping.
Small Investors Who Jumped Into Crypto on FTX Say, Now What?

The New York Times – Business:
Many small investors who piled into cryptocurrencies on FTX, BlockFi and other platforms are recognizing the perils of investing in an unregulated industry.
Russia’s Economy Is Threatened by War and Sanctions

The New York Times – Business:
While Russia’s economy has not collapsed, an exodus of Western companies is eroding hard-won progress, and experts say the worst may be yet to come.
The Week in Business: Upheaval in China

The New York Times – Business:
The labor market showed continued resilience. President Biden signed legislation averting a rail strike. And a near-total embargo on Russian oil takes effect.