Tough day for athletic department. 33 employees being let go and dozens being furloughed. Cuts due to COVID will continue to roll through athletics departments and all other industries as we move through this horrible year.
Athletic Dept Cuts
- Thread starter Knucklehank1
- Start date
This is getting bigger and lasting longer that what I thought it would. The ripple effect to this will last a long time world wide. I hope the responsible parties are dealt with properly. Instead of shutting down the economy I wish they would open up the businesses but make it mandatory that you have to wear mask when you go out.
If you don’t have a mask you should not be able to enter a business. It is ashamed that this is happening so many lives lost and so many lives are changed in a negative way
If you don’t have a mask you should not be able to enter a business. It is ashamed that this is happening so many lives lost and so many lives are changed in a negative way
Tyra said they will not eliminate any varsity sports but who knows what will happen if it continues to get worse long term.
No coaches were released and no sports are going to be cut. Cuts were support staff (admin, marketing, etc).
I’ve read some articles today that said if football isn’t able to be played next school year then you can expect wide-spread axing of non-revenue sports.
The ONLY silver lining in this for me personally is, I’m buying stocks at heavily discounted prices...BA, MGM, FUN, FXG to name a few. Other than that, the entire situation sucks and I hope China is held accountable to some extent.
Hope the employees at UofL and others places land on their feet.
Hope the employees at UofL and others places land on their feet.
I agree a vaccine is the answer but one won’t be available for another 8 to 12 months. That is according to the experts anyway. So we just keep everything shut down for another year?
How discounted are they relative to earnings? My guess is not nearly as much...
Staged opening based on potential risk factors. Beshear is on the right track. Medical offices, places that the ability to test or screen. Unfortunately any sporting event, concert, activity with large crowds is low on the totem pole.
What 20,000 at a basketball game or 45,000 at a football game and your going to put a cotton swab up their nose and get a result before you let them in?
Even if they went to the doctor yesterday and they gave him a “all clear”, it would only be valid the day you went to the doctor, not the day after.
Q1 earnings are going to be brutal but they're already baked in, which is why the share prices were down 70+% off of their 52 wk highs when I bought them in late March. Q2 earnings probably won't be good either, but Q3 and Q4 should be much better. I'm already up 44% on my initial investment, but I bought with the intent to double/triple my money in 12-18 months...which I will. CPRI is another one that I snatched up. Get ya some of that free money Zipp, while you can. Still a lot of good deals out there. BUD and WFC are on my watch list this week.
I think the equities markets in general are as overpriced as they were prior to the decline. That’s based on earnings going forward. You might see stock market hacks trying to justify 30 P/E multiples before much longer. Not for me.
Markets are being propped up by the Fed. There’s no end game in that. Better know how to time your exit. I’ll just keep adding to my pile of gold...
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