The Baltusian Economist is a largely digital news organization with a significant focus on finance and economics.Valruzian-Baltusian housing and homeowners insurance firm Bekowsky and Schuster files for bankruptcy, citing ongoing economic recession in ValruziaSince the bankruptcy of Bekowsky and Schuster, many homes which were under the firm, like this suburb near San Fierro, in New Egelion are currently in limbo.Moorstown, WestbrookPublished September 9th, 4459
Speaking from their headquarters, situated in Moorstown, a small city in central Westbrook that is close to the Valruzian border, the CEO of Bekowsky and Schuster, Arkady Bekowsky announced that the company would begin bankruptcy filings this week, citing the ongoing economic recession in Valruzia. Servicing a number of gated communities and high value homes across the country, it was ranked one of the top 5 housing firms on the market.
It is incredibly difficult to say this, but we are formally filing for bankruptcy, beginning this week. It seems the economic recession in my own country of Valruzia has bled into our company in Baltusia. For the many people we serviced and represented across the nation, I say this: Please consult with other homeowners insurance companies as soon as possible. I also invite other companies, once the bankruptcy proceedings finish, to buy the remainder of our assets.
According to statistics released by the company itself, B & S serviced an estimated 500,000 homeowners in nearly every state of Baltusia, even servicing high-end homes. Many of these aforementioned homeowners are now in limbo, with many fearing that they will not be able to afford an alternative, now that they have lost their insurance benefits. This especially hits hard for low-income earners in major cities, who claim the basic packages offered by B & S were the only thing protecting them.
"I think it's a load of bulls--t, honestly," States apartment renter Jack Thibault, who lives in New Valois. "My benefits are gone and right now, it's just a waiting game. Pipe bursts? Can't be guaranteed that it'll be fixed! I'm f---ed!"
Continued unpredictability of recession-gripped Valruzian companies sends waves of anxiety throughout the New Valois Stock ExchangeStockbrokers race across the floor of the New Valois Stock Exchange (NVSE) amidst a massive wave of unpredictability for Valruzian companies in the throes of their recession.New Valois, AttanoPublished September 9th, 4459
With Valruzia in the throes of a deep recession, the toll hasn't just affected the housing market, it's also affected the stock market. Many native Valruzian companies actively trading have faced a wave of unpredictability in their share value, which has sent waves of anxiety amongst fellow brokers on the NVSE's floor.
Amidst the usual clamoring and yelling typical of an early weekday morning, the air today was especially tense. Veteran broker Richard Bonatti spoke to the Baltusian Economist, stating "Many people are just shying away, pulling their money out of Valruzian shares. Big names too, like LOT Airlines and Bönning. I've seen dozens of guys sell them off like hotcakes, not even caring what they get out of it. Don't want to risk getting screwed."
Whilst the pulling away of investment from Baltusian brokers has seemingly helped them at the present moment, it however has plunged these companies into a further economic downturn, making many wonder if they will have the strength to survive.
Many have already begun advocating for a response from the federal government, but such a reaction has yet to be seen.