Furloughs Announced [Marriott Int'l hotel company] - WSJ

[bazzap]

Who has money to buy stock? My portfolio is down 33%. I don’t have any spare cash.

I thought I was doing badly, down 22% now.
Maybe not so badly after all?

 

[Steve Fatula]

I am done < 10%, so feel "pretty good" I guess. But who knows, they could all change. Mine was a conservative mix of stuff since I am already retired, and a good chunk of cash. That cash could be used to buy stuff, but not convinced it would be a good buy even at current prices.

 

[pchung6]

My 401k is down 36%, not good, and it's 50% of my wealth. But I was lucky enough to liquidate all of my IRA last month due to broker switch and this virus happens, so only cash in my new IRA account. I also have my saving in CD when the rate was 2.75% and these will mature this and next month. I am cashing in stock market now and VAC is the one I'm buying.

 

[VacationForever]

I just checked, down 25%. We are not panicked, what goes up must come down. What goes down will go up again.

 

[MULTIZ321]

Marriott Laying Off Two-Thirds of Their Corporate Employees

Marriott Furloughs Two-Thirds of Their Corporate Employees - Pizza In Motion

Marriott announced that they were laying off thousands of employees at their corporate offices in Bethesda, Maryland due to coronavirus pandemic.

pizzainmotion.boardingarea.com

Richard

 

[TheTimeTraveler]

Not good for Marriott employees but great for those submitting paperwork for ROFR. Marriott is bleeding cash and now is the time to go in and swoop up resale weeks and resale points for low ball offers!




.

 

[TXTortoise]

MVCI vs Marriott....though expect same impact to ROFR. Both hoarding cash, I'm sure.

 

[2disneydads]

Not good for Marriott employees but great for those submitting paperwork for ROFR. Marriott is bleeding cash and now is the time to go in and swoop up resale weeks and resale points for low ball offers!




.

This is the hotel chain, not MVCI. MVCI is not as free to close resorts as Marriott International is free to close hotels.

Sent from my SM-N950U using Tapatalk

 

[TravelTime]

Marriott Laying Off Two-Thirds of Their Corporate Employees

Marriott Furloughs Two-Thirds of Their Corporate Employees - Pizza In Motion

Marriott announced that they were laying off thousands of employees at their corporate offices in Bethesda, Maryland due to coronavirus pandemic.

pizzainmotion.boardingarea.com

Richard

This is scary. I wonder how many companies will be laying off employees in the days, weeks and months ahead. I suspect the 5 million unemployment number reported in Wall Street Journal might be conservative.

Coronavirus-Triggered Downturn Could Cost Five Million U.S. Jobs

Economic forecasts turned bleak as it became clear that a pandemic would now affect life in the U.S. far more than originally understood.

www.wsj.com

 

[Steve Fatula]

I guess it all depends how long it lasts, do any drugs really appear to work, etc. No one knows. I doubt MVCI will be furloughing too many people unless somehow forced to close. I see today March 21 new cases in the US declined for the first time, still a lot, just not as many new cases today.

By sheer luck, I happen to be taking one of those drugs that MAY provide benefits to those with the virus, Plaquenil (hydroxychloroquine) an old malaria drug. For me, it is being used for resistant idiopathic hives and works well. I chuckled when I saw the story from, forgot who, about the "dangers" of Plaquenil in the news yesterday which said taking 2G can kill you. Duh, that's also known as an overdose, so, yes it can. 2G of many medications can kill you. Considering it's been in use for maybe 70 years or so, I'd say it's side effects are pretty well known. And it hasn't killed me in the 5 years I've been taking it.

 

[pchung6]

I think it creates a great buying opportunity for VAC stock that currently trading at $38. Just last month, VAC was $130 and people were bullish on this company.

Really hope someone had also purchased some VAC at $38 like I did. It's a really quick 50% gain as I sold my shares today. Now I see VAC might bounce down to $40-45 again, and that could be another entry point for longterm.

 

[pedro47]

The money you invest into stock is for long term planning.
Now is the time to purchase quality stock IMO. Why because stocks prices are very low .

Just check the prices of ten (10) quality stocks at the end of February 2020 and compared their prices today.

I am not suggesting you purchase any stock today or in the future.