Bond Report: Long-term Treasury Yields Surge Toward Multiyear Highs

It will likely take two to three weeks for the normal flow of goods to be reestablished. U. S. East Coast and Gulf Coast ports began reopening late on Thursday after dockworkers and port operators reached a wage deal to settle the industry’s biggest work stoppage in nearly half a century, but clearing the cargo backlog will take time.

The bargain carrier, which has faced financial difficulty for years, has not seen an annual profit since before the pandemic. Shares of Spirit Airlines (NYSE: SAVE) are crashing in premarket trading as of the time of this writing. The stock is down nearly 40% to just $1.36 per share. Yesterday, SAVE shares closed down 3.45% to $2.24.

Cutting subscriptions and digging in my closet was easy, saying no to going out was harder. The idea of a financial fast, a term coined by author Michelle Singletary, is that for a specified period of time, you cut out any nonessential spending. Groceries and utility bills are fine, but DoorDash is a no. 

Exclusive new data from Fast Company and the FutureBrand Index looks at how customers perceive companies in financial distress. It matters less than you think. What do Tupperware, BurgerFi, and Big Lots have in common?

Three strip clubs are asking a Denver judge to stop city investigators from collecting dancers’ contracts, contact information and pay records in a first-of-its-kind wage-theft probe. RCI Holdings, which owns PT’s Showclub, Diamond Cabaret and PT’s Centerfold, sued the city’s Labor Division this week. It claims that the division’s issuance of “overreaching and unjustified” subpoenas is “an alarming abuse of power” that threatens privacy rights. RELATED: Denver subpoenas 3 strip clubs in first use of new tool to investigate wage theft “It appears to the clubs’ legal counsel that Denver Labor is operating with the belief that they have unfettered access to private business records, wasting thousands of taxpayer dollars in an attempt to unilaterally bolster the limited and narrow subpoena powers granted to them by City Council,” RCI said in a statement when asked about Tuesday’s lawsuit. “We are committed to ensuring that this investigation proceeds within legal and reasonable boundaries and fully intend to bring Denver Labor to answer before the district courts in vehement defense of our legal and ethical business practices,” it added. In April, the Denver City Council voted unanimously to give Denver Labor the power to subpoena documents from companies that are suspected of stealing wages.

Leaves are holding tight to the trees this autumn along the Front Range, but home prices have started tumbling despite more-favorable mortgage rates for buyers, according to a monthly update from the Denver Metro Association of Realtors. The median price of a single-family or “detached” home sold in metro Denver last month was $630,000, down 3.11% from August and 1.56% from September 2023.