AM I NEXT? NO LOVE AT DBI SERVICES

Hazleton, Pennsylvania-based DBi (DeAngelo Brothers Incorporated) Services, an asset management, and infrastructure services provider to public and private entities, abruptly closed leaving 1,500 employees without jobs.

According to a statement published on the company's website...

"DBi Services today confirmed that due to continued operating and financial challenges, and sudden and unexpected setbacks, particularly the decision of its primary lender to discontinue all funding, the Company determined that a wind-down of substantially all of its business is necessary at this time.

Macroeconomic forces as a result of the COVID-19 pandemic, including supply chain disruptions, higher material costs, and the labor shortage, coupled with increased financial requirements from sureties and lenders, impeded the Company’s ability to successfully execute and finance its projects.

The Company explored every viable alternative to avoid this outcome, working together with its outside advisors, investors, lenders, and sureties to try to identify a resolution to address the issues at hand and enable the Company to move forward.

The Company’s Digital Traffic Systems, Inc. subsidiary, which has not experienced the same challenges, is continuing to operate and serve customers.

DBi Services deeply regrets the impact on its valued employees, customers, suppliers, and partners, and is working diligently to manage as smooth a transition as possible."

Many employees were in denial, not believing a company with a 40-year history and operated nationally with 45 locations could simply shut the doors. The phrase, "effective immediately" and delivered prior to the weekend caught employees by surprise and left them wondering what to do with company equipment, including cars and computers, in their possession.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? MORE JOB-KILLING POLITICAL RISKS

Once again we are confronted with an example of the type of political risk that is indicative of the government's efforts at social engineering to discourage the public's use of a product they consider harmful without legislation that would make the product illegal to manufacture, sell, distribute, own, or use.

In some cases, the government increases the taxes imposed on the product to make it less attractive to youngsters and others with less discretionary income. Burdening heavy users with additional costs the government hopes will reduce or eliminate usage. The two most prominent examples are alcohol and tobacco.

Today's example comes from legislation that curbs the carriage and delivery of tobacco-associated vaping products.

"The U.S. Postal Service’s ban on the shipping of all vaping products, which was mandated by Congress late last year, took effect. The Postal Service’s exit, combined with existing delivery bans by FedEx, UPS, and DHL leaves the vaping industry with limited options to get its goods to market.

The prohibitions imposed by the four carriers affect online sales to consumers as well as business-to-business transactions between manufacturers, distributors and retailers."

These are the type of political risks that can destroy small businesses and result in major layoffs in larger companies. Keep questioning the political viability of your product line in terms of tariffs, taxation, and secondary logistical considerations of shipping.

AM I NEXT? NO LOVE AT PROSPECT AIRPORT SERVICES

Des Plaines, Illinois-based Prospect Airport Services, a third-party vendor of ticket and gate agents, passenger services, ramp/cabin services, cargo services, and support services to airlines, has announced that it will be discontinuing operations at San Francisco International Airport as of December 31, 2021.

The shut down will impact 177 employees, mostly passenger service agents, along with aircraft security guards, and related management and support staff.

At this time, the company has not commented on the closure of its remaining California operation at Oakland International Airport.

It is presumed that like most others in the commercial aviation space, that most closures and reductions in force can be attributed to the global pandemic that has resulted in reduced travel, the unavailability of hospitality services and destination venues, and economic disruptions in the jet fuel markets.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?