But now, they’re increasingly looking like something else — zombies. And their numbers are swelling.
From Boeing Co., Carnival Corp. and Delta Air Lines Inc. to Exxon Mobil Corp. and Macy’s Inc., many of the nation’s most iconic companies aren’t earning enough to cover their interest expenses (a key criterion, as most market experts define it, for zombie status).
Almost 200 corporations have joined the ranks of so-called zombie firms since the onset of the pandemic, according to a Bloomberg analysis of financial data from 3,000 of the country’s largest publicly-traded companies. In fact, zombies now account for nearly 20% of those firms. Even more stark, they’ve added almost $1 trillion of debt to their balance sheets in the span, bringing total obligations to $1.36 trillion. That’s more than double the roughly $500 billion zombie companies owed at the peak of the financial crisis. […]
2 Comments on America’s Zombie Companies Have Racked Up $1.4 Trillion of Debt
Isn’t that the cabal plan?? Bankrupt most companies (airlines I believe received another bailout for their participation in the covid19-84) Killing all small businesses while funneling the cash to their controlled entities like Amazon Walmart Costco …then everything will be order online with your digital dollars