Tag: controls

Despite Cost Controls, LendingClub Is Still A Shrinking Business (NYSE:LC)

Once a fintech darling that was called one of the most innovative tech companies to revolutionize consumer finance, LendingClub (LC) has taken a stark fall from grace this year. Already struggling with slowing investor demand before the pandemic, LendingClub got hit hard by a spike in defaults (largely expected across the industry, as smaller lenders like LendingClub and the biggest banks in the U.S. both got hit hard) and suffered a further capital flight from the investors that drive LendingClub’s business.

In its private days, LendingClub was once worth up to $3.8 billion. With shares down ~70% year to date, LendingClub’s ~$320 million market cap is now only a shadow of what it was once worth in the past.

Data by YCharts

It’s fair to say, in my view, that LendingClub is shrinking – not just from a valuation perspective, but also in the scope of its business. We’ll take

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Auckland Council agrees to tighter controls over park and ride development proposal

The AT Park and Ride facility in Wiri's Dalgety Drive is one of nine sites across Auckland Panuku is looking at redeveloping.

Stephen Forbes/Stuff

The AT Park and Ride facility in Wiri’s Dalgety Drive is one of nine sites across Auckland Panuku is looking at redeveloping.

Panuku and Auckland Transport will have to provide the council with a business case for each of the nine park and ride facilities sites they are looking at redeveloping across the city.

Last week Panuku and Auckland Transport (AT) sought approval from the council to develop the airspace above car parks and park and ride facilities around the city, including at least four sites in south Auckland. The council controlled organisations said the funds would be reinvested in regional public transport projects.

The two CCOs are looking at redeveloping nine sites in the Auckland region, including the Manurewa Station Park and Ride in Station Road, the Selwyn Road car park in Manurewa, Homai Station Park and Ride located in Wiri’s Dalgety Drive and the Papakura Train

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