UBER STOCK TANKED, AFTER IT’S IPO HIT THE MARKETS!!!!!!!!!!!!!!!!

By: Economic & Finance Report

Uber the rideshare tech company, its stock tanked on its first official trading day on the NYSE, Friday, May 10, 2019 will be a day of turmoil on the Uber corporate calendar. It was a horrible trading day for the mammoth ride sharing tech company.

Uber declined close to 8% during the stock market trading day. The stock plummeting so much (in which it did), is the first time any stock has come out the gates on Wall St and lost so much market share. The valuation of Uber was at $76 billion dollars, when analysts had predicted that it would be valued around $90-$100 billion dollars, well that didn’t happen. Not only that, Uber has been bleeding money and the perception is that, Uber won’t actually make any real money until the year 2024, hopefully.

Uber being one of the biggest IPO companies probably since Alibaba, Facebook and a few others. So it to falter as it did was a shocker to some and to others, not so much. Technology companies tend not to fare well in the beginning of their IPO presence. Facebook had a rocky start coming out the gates and other big tech companies before it, have gone through similar revelations.

It’s the test of time that will dictate the longevity of Uber’s existence and if they can navigate their ship in theses rough and turbulent stock market waters. -SB

TECHNOLOGY RIDE SHARE COMPANIES UBER & LYFT ARE EARNING WAY MORE THEN YELLOW/GREEN CABS & TAXIS!!!!!!!

uber-lyft

By: Economic & Finance Report

It seems that Uber and Lyft are crushing the competition in the customer service ride share industry, if that is even an industry to say the least; these two mega companies created and infiltrated ride share customer service. While they are in the forefront of picking up customers through their online apps, taxis and cabs in metro areas like NYC, Miami, Chicago, Atlanta, LA, San Francisco are taking hits and seeing major declines in customer pick ups.

Taxi and cabs are increasingly losing value as the ride share tech giants are taking over the industry, revenue for cabs have gone done drastically even though cabs pickup more people in metro areas such as New York City, statistics show  in NYC, taxis in the city picked 450k-500k passengers in April 2016 as compared to Lyft’s & Uber’s 200k passengers combined according to stats provided by Morgan’s Stanley. Though taxis and cabs picked up more people during that time period; their revenue did not come close to what Uber/Lyft  made during that month of April.

It looks like Lyft and Uber are giving cab/taxis a run for the their money, or  at least “a ride for their money”. -SB

 

THE HOTEL INDUSTRY WANTS AIRBNB HOSTS TO GET LICENSES.. WILL THEY LISTEN???

airbnb

BY: Economic & Finance Report

The hotel industry is going full force at town and city regulators around the US, to have individuals who are registered with AirBnB to attain licenses that are mandated in city and town laws. Many AirBnB participants seem to be able to skirt or skirmish from attaining licenses to be able to rent or sublet their apartments, condos, coops, room residences, because they are simply not registering for the applicable licenses.

Many homeowners who use AirBNB indicate they do not need licenses because most times they are only renting out a room or a residence less then the time needed legally to adhere to a license within city limits.

The license that is needed or at issue is what is called a vacation rental license which allows most rentors to rent or lease out their property for  a few years. Many residents don’t apply for the license which has become a problem to the hotel industry in many towns and cities, because they believe fraudulent behavior is going on.

Many hotels have to obtain and sustain licenses and they believe companies such as AirBNB are hurting the industry and the hospitality sector as a whole with what is happening. City and town regulators have been watching these developments unfold but it has been difficult to actually go after AirBNB hosts who do not follow the law and obtain the vacation rental licenses, because of how complex the situation is in general.

-SB

APARTMENT RENTERS: EXPENSIVE CITY AREAS TO LIVE IN THE U.S.

apartments bldng

By: Economic & Finance Report

As prices of products and services increase so do living conditions around the United States.  Survey that was conducted by Apartments.com, below are expensive apartment rentals sections/cities around the country…

1) Philadelphia, Pa: Bottom of the list. (Home of Brotherly Love)

2) Pasedena, Ca:  Nothing like being close to southern LA, and celebrity life.

3) Washington, D.C. The nation’s capitol, why not they government regulates damn near everything anyway, to say the least… Why not place being expensive place to rent an apartment as well.

4) Queens, NYC:  Whoo-hoo we made it QU…. The apartment and cost of living is decent Not that expensive,  definitely suburban life, houses, yards, garage, drive way…. I should know, I’m from there….

5) San Diego, Ca: Nothing like living in Southern California, sun, beaches, good life…..

6) Newport Beach, Ca: That beach sun life, shout out to San Diego our cousin’s… Can’t forget beautiful women life….

7) Jersey City, NJ: I can see this, expensive apartments, condos, coops, especially by the water.. The view of looking toward New York City… Million dollar views… I see this definitely.

8) Great Neck, LI…  Long Island definitely expensive and the taxes yeeeesssshhhh…Hope you have a good income for the property taxes…

9) Palo Alto, Ca: Tech city baby… Latest technology home bases…

10) Oakland, Ca: Wow Oakland has come a long way… Expensive apartments to rent, very interesting….

11) Boston, Ma: Those Bostonians do it again, making the list.. I see you guys, watching you guys and gals too (lol).

12) San Francisco, Ca: I see the Golden Gate Bridge: South side lifeeeeeeeee…

13) Brooklyn, NYC: Big Ups to Broooooookkkkllllllynnnnnnn….

14) Manhattan, NYC:  Tops the List...Of course, everything in Manhattan is expensive not just apartment…. Lavish lifestyle, I should know… Trust I should know….

-SB