Tag: Disastrous

Analysis: Indonesia is putting business before the environment and that could be disastrous for its rainforests

The omnibus jobs creation law was intended to simplify Indonesia’s complex web of overlapping regulations to make it easier for companies to do business in the country. It includes changes to more than 70 laws across the labor, business and environmental sectors.

Indonesian President Joko “Jokowi” Widodo has promised the law will help boost the country’s ailing coronavirus-hit economy by cutting through red tape and bureaucracy to attract foreign investment and create jobs in Southeast Asia’s largest economy.

Union and Muslim groups are preparing to challenge the law in court and another wave of protests is expected this week, according to Reuters.

But while the protests have focused on concerns over labor rights, environmentalists say the law loosens environmental protections and could lead to widespread deforestation and habitat loss.

Indonesia’s rainforests are the world’s third largest after the Amazon and Africa’s Congo Basin and are ecologically important for their rich

Read More

Macy’s: An Update After A Disastrous Half Year (NYSE:M)

Macy’s (M) has been struggling for years, which did cause a real overhang on the shares. This was of course driven by a combination of modest declines in sales and real margin pressure, yet I always believed that pulling the real state card and the subsidy from cheap real estate will result in a situation in which value for shareholders could be delivered.

After two dismal quarters following Covid-19, the situation has become much more challenging and far less compelling, although there are some silver linings as well which make the story still very interesting to watch.

What Happened?

As mentioned, Macy’s has been struggling over the past decade as sales have risen from $25 billion around 2009 to a peak of $28 billion in 2013/2014 before falling back to $25 billion again in 2019; 2020 will be a strange year for obvious reasons. Years of cumulative inflation chip away

Read More