If you’re shaping projections for how the US economy will do in 2021 consider what Jan Hatzius Goldman Sachs Head of Global Investment said on Exchanges at Goldman Sachs last week: I think overall my broader view would be that while the economy is going through a much slower stretch […]
WASHINGTON – The Treasury Department and the Internal Revenue Service issued guidance today allowing deductions for the payments of eligible expenses when such payments would result (or be expected to result) in the forgiveness of a loan (covered loan) under the Paycheck Protection Program (PPP). Today’s guidance, Revenue Ruling 2021-02, reflects changes to […]
On last week’s Billboard Insider podcast Insider commented that out of home values vary from 8 to 14 times cashflow. Reader Greg Hicks asked us to explain what factors cause the multiple to vary. We asked out of home broker Max Drachman of Kalil and Co to comment: That’s a […]
Lamar Advertising is refinancing $650 million of corporate debt. Here’s are some excerpts from the press release. BATON ROUGE, La., Jan. 04, 2021 (GLOBE NEWSWIRE) — Lamar Advertising Company (LAMR), a leading owner and operator of outdoor advertising and logo sign displays, today announced that its wholly owned subsidiary, Lamar […]
US out of home stocks rallied in the fourth quarter of 2020. Clear Channel Outdoor, OUTFRONT and Lamar outperformed the S&P 500 as you can see in the chart below. Clear Channel was up 62% in the fourth quarter of 2020. Outfront gained 29%. Lamar gained 20%. The S&P 500 […]
Remember last March when it was fashionable to show pictures of empty streets and some media pundits thought that out of home would be crippled and crushed by the pandemic? The hysteria peaked March 23, 2020. And if you kept your cool and you purchased out of home stock you […]
Did you know that independent out of home companies have the largest share of the US out of home market. Look at this slide from OUTFRONT Media’s December 2020 Investor Presentation. Independent operators make up 34% of 2019 US out of home revenues followed by Lamar (23%), OUTFRONT (21%), Clear […]
BREAKING NEWS . . . CONGRESS APPROVED A NEW STIMULUS PACKAGE. OAAA immediately scheduled a webinar to explain help for small businesses, featuring presenter Sarah Donovan, Senior Policy Advisor of the Venable law firm. This webinar will focus on updates to the Paycheck Protection Program regarding deductibility and applying for […]
As of Monday night , the House has approved a $900 billion pandemic relief bill and was sending it to the Senate for late-night consideration after days of hard-fought negotiations. We are still waiting for a final signed bill and additional analysis on the final package. It does appear to […]
Clear Channel Executives have been making much of the company’s initiative to cut $32 million in permanent expenses. This equates to 1-2% of Clear Channel’s total expense and 5-6% of Clear Channel Outdoor’s SG&A expense. The cuts come on top of $100 million in temporary cost savings during the second […]
