(Bloomberg) — AMC Entertainment Holdings Inc. said it may soon run out of cash amid fresh signs that the pandemic is pushing cinema operators close to default.



a group of people standing in front of a store: Customers wearing protective masks visit the concession stand at an AMC Entertainment Holdings Inc. movie theater in Austin, Texas, U.S., on Thursday, Aug. 20, 2020. AMC will be reopening more than 100 theaters across the country Thursday, about one-sixth of its locations, with plans to open more in the coming weeks.


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Customers wearing protective masks visit the concession stand at an AMC Entertainment Holdings Inc. movie theater in Austin, Texas, U.S., on Thursday, Aug. 20, 2020. AMC will be reopening more than 100 theaters across the country Thursday, about one-sixth of its locations, with plans to open more in the coming weeks.

The world’s biggest theater chain said in a filing Tuesday that liquidity will be largely depleted by the end of this year or early next year if attendance doesn’t pick up, and it’s exploring actions that include asset sales and joint ventures.

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Attendance since the resumption of business in the U.S. is down 85% from the same period a year ago, the company said. AMC has been hobbled by the coronavirus outbreak, which discourages some moviegoers from coming and studios from releasing blockbusters that might attract them.

AMC is looking for sources of liquidity to ride out the pandemic, including asset sales and joint ventures, but cautions there is “significant risk” that its efforts may fall short or fail. Other actions could include debt and equity financing, continued talks with landlords on rent reductions and arrangements with existing business partners.

Attendance Dilemma

Cinema chains are facing a chicken-and-egg problem with no near-term solution: As local capacity restrictions and audience skittishness keep U.S. theaters largely empty, studios are delaying most of their major film releases into 2021 and beyond, which gives consumers still less reason to buy tickets.

Cineworld Group Plc, owner of the Regal chain, earlier this month suspended operations at its U.S. and U.K. locations because of the lack of big movies. It’s preparing for talks with

  • Jennifer Castillo is an attorney, blogger, and self-proclaimed “Henry” — an acronym that stands for “High Earner, Not Rich Yet.”
  • Henrys are millennials with six-figure incomes who are using investment and savings strategies to meet their future financial goals.
  • Castillo shared with Business Insider how she spends her monthly income, which includes saving for emergencies, investing in real estate, and purchasing a gym membership. 
  • She wishes there was a “greater appreciation for the aspirational sentiment” of the term Henry.
  • As an Afro-Latina immigrant, Castillo said she hopes to showcase other BIPOC Henrys on her blog, Jenny the HENRY, to cultivate a more inclusive definition.
  • Visit Business Insider’s homepage for more stories.

Jennifer Castillo is a Washington, DC-based attorney by day and a blogger by night. Castillo, 33, is a self-described “Henry,” a term (and acronym) that she said encompasses “a subset of millennials that have six-figure incomes, but are not quite rich yet” (“High Earner, Not Rich Yet”). 

The acronym first appeared in a 2003 Fortune magazine article describing families with an income between $250,000 and $500,000. Since the Fortune article, Castillo said that the term Henry has evolved to describe households that command an annual income between $100,000 and $250,000, but have not amassed investable assets of $1 million.

Pamela N. Daniger, author of the 2019 book “Meet the HENRYs: The Millennials That Matter Most for Luxury Brands,” writes that Henrys have high incomes now but aren’t resting on their laurels — they have even higher projected incomes for the future. 

“Investable assets include cash, funds in your bank accounts, money held in retirement accounts, among others, and [do] not include physical and tangible assets like real estate,” Castillo said.

She added that Henrys like herself have disposable income and generally would spend those funds on experiences, dining, travel,

Frederick M. Brown/Getty Whitney Way Thore

Whitney Way Thore is reflecting on her mental health struggles.

In honor of World Mental Health Day, the My Big Fat Fabulous Life star, 36, reflected on the “profound personal loss” she experienced this year, which included splitting from fiancé Chase Severino after learning he was expecting a child with another woman.

“Hey y’all. It’s #worldmentalhealthday and I just want to remind you that if you’re struggling, you’re not alone,” she wrote at the start of the candid post. “I was diagnosed with depression at 18 and have been dealing with it for more than 20 years. I’ve also been diagnosed with atypical anorexia nervosa, bulimia nervosa, and generalized anxiety disorder.”

“2020 has been chaotic, terrifying, divisive, and disheartening. Even the most positive people with no history of mental health issues have probably felt hopeless, helpless, and like things are bleak,” she continued. “If you feel like this, again, you are NOT ALONE. If you’ve been comparing your life to people on social media, wondering why you can’t get it the f– together, let me remind you: social media IS NOT REAL.”

The TLC star noted that although she tries to be “as authentic as possible” on social media, it’s not always possible to fully convey what she is going through.

“There would be no way for me [to] share the profound personal loss I’ve experienced this year, as well as the stress, isolation, and daily ups and downs I’ve experienced going through this year like all the rest of you,” she wrote. “I have spent so many days dealing with depression and anxiety. This has been the hardest period of my life in terms of my mental health that I can remember.

RELATED: Whitney Way Thore on Proudly Calling Herself ‘Fat’: ‘I Don’t

Investors focused on the Finance space have likely heard of American Tower Corporation REIT (AMT), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of AMT and the rest of the Finance group’s stocks.

American Tower Corporation REIT is one of 901 individual stocks in the Finance sector. Collectively, these companies sit at #14 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. AMT is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for AMT’s full-year earnings has moved 0.35% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, AMT has gained about 6.47% so far this year. In comparison, Finance companies have returned an average of -13.39%. This shows that American Tower Corporation REIT is outperforming its peers so far this year.

Looking more specifically, AMT belongs to the REIT and Equity Trust – Other industry, a group that includes 119 individual stocks and currently sits at #213 in the Zacks Industry Rank. This group has lost an average of 2.82% so far this year, so AMT is performing better in this area.

Investors in the Finance sector will want to keep a close eye on AMT as it attempts to continue

NEW YORK — The final three months of the year, usually a boom time for many small businesses thanks to holiday shopping and celebrations, looks precarious as the coronavirus maintains its grip on the economy.

Owners contending with government restrictions or crumbling demand are trying to hold on, with some creating new products and services or desperately searching for new customers. Others, however, have found they’re already well equipped to meet the lifestyle changes brought about by the pandemic.

The big corporate and non-profit parties and events that Sophia D’Angelo ran before the virus outbreak have just about vanished. Large in-person gatherings that companies typically use to launch or promote their brands aren’t possible because of social distancing requirements.

“The fourth quarter was always the bulk of my business,” says D’Angelo, who owns Boston Experiential Group, based in Boston.

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D’Angelo has had to get creative. She’s using her expertise to arrange small gatherings like holiday-themed dinners and parties at people’s homes, usually for no more than 10 guests.

The fourth quarter is a key time for many industries and companies of all sizes. Some retailers typically expect to make as much as half their annual revenue during the holiday shopping season, as do many of their suppliers. Any business connected with holiday parties and celebrations also has high hopes for the October-December period.

This photo provided by Adam M. Rammel shows the beer garden at The Syndicate on Aug. 20, 2020 in Bellefontaine, Ohio. Many restaurants, event planners and even companies like distillers and corporate gift manufacturers face weaker revenues although t

But conditions are dicey this year. The coronavirus has devastated many small businesses; it’s estimated that hundreds