Hey, it’s Dan. Welcome back. You’re watching Iallegedly. And I have a good one for you today. Because what would you do if you heard this? What would you do? We’re gonna ask that question, and I got a good one for you in regards to that. Please do not forget to hit the like button. Please don’t forget to subscribe to the channel. And we have no sponsor today. Just you and I. Sam is a subscriber, and Sam wrote me a detailed email over the weekend that I got. That was really good. He was at a music festival called Just Like Heaven.

And Sam overheard a man talking behind him. Now, this is hearsay before I get into this. And Sam pointed out, you know, in his email that this is hearsay, Dan. But what do you want to do with this, okay? So, there was a man that was sitting behind Sam. At the music festival, Sam was there with his wife, and this man was there with his wife or partner also. And we’re just gonna call him Mr. Bitchin. Mr. Bitchin was sitting behind Sam talking about how he works at a bank called Comerica. And that Comerica bank was gonna go out of business.

It was going to fail. Not this week, not next week, but soon. And it’s going to go down for the count, but don’t worry, honey. Gonna get my golden parachute, which was what this guy said, his golden parachute. And he was going to be fine. But man, this is gonna make big news because this bank is gonna go out of business. Now, with this information that we have, and as I research Comerica Bank, they’ve had trouble for the last year or so. Since Silicon Valley Bank went down, Comerica Bank has not been in the best spot.

They had lawsuits and litigation and been accused of different things. And you can read the stories below about that. But here’s the thing. Zion’s Bank, Comerica Bank, and one other Midwest Bank, they say are most likely to be gobbled up by somebody else. Now, the story is below on that. But here’s the thing. The real problem with the banks that we’ve talked about extensively is you’ve got a sweet spot of people that have assets between $80 and $100 billion that they manage. And they’re not in good shape right now. They’re not making money. Interest rates are staying high.

And you can lie to yourself and tell yourself story time after story time after story time that interest rates are gonna go down and that we’re miraculously going to turn everything around. That is not going to happen any time soon, guys. It’s not going to happen. But Sam felt compelled by this guy, Mr. Bitch, and story. Again, an executive that worked at, yeah, you know, it’s not going to be real quick. It’ll be a few months from now. But it’s going to go down. Now, knowing this, hearing that, if you heard that you were dealing with a business that was going to go out of business, would you continue to do business with them? I think you guys are foolish.

If you guys are working with Comerica Bank right now in any way, shape, or form, or if you have your business there, and I looked up all the types of accounts, they do everything from commercial lending to, they have merchant accounts, they have everything there, guys. But if you have your banking there for your business or for your personal savings, get it out. Now, guys, because what’s gonna happen is the musical chairs of these banks going down is going to be a matter of time until one of them goes down and there’s not enough money for the FDIC to pay us all back.

Well, wait a second, Dan. You don’t know what you’re talking about. I don’t have $250,000 in my bank. I have a lot less, so they have to pay me back. Should they do? They have to pay off in your car insurance when you get into an accident, but all I have is people riding me right now telling me how slow they’re getting paid on auto work and auto repairs and everything right now. You think the banking system’s solid right now? They say if we have 12 banks go down, that would make the FDIC insolvent.

I’ve heard 18, I’ve heard six banks, but then I’ve heard 200. So what’s the number? Who wants to risk it? Do you want your money in a financial institution? Now, thank you, Sam, for sending me this. And Sam, you know, I don’t know if that’s Sam’s real name. Let’s hope it is. Seems like a nice guy. But wrote a detailed message about this and what this guy’s story was. But again, the cool guy, Mr. Bitchin, that’s set behind Sam bragging about half. You know, people are going to lose their money. Businesses are going to fail.

People are going to lose their deposits. But hey, honey, you and I will be fine because I have a golden parachute and I’ll be protected. It’s going to make big headlines, though. You’re going to see. When this thing goes down, it’s going to be big. Okay? Well, again, if you heard that, would you continue to work there? Work with them. Be there. If you work there, I could get another job, guys. That’s what I would do. But again, everything that I can find about Comerica Bank points to a problem. Read the stories below.

It’s not like, hey, we turned it around. You know, I’m Kurt Farmer. I’m the CEO. This company is doing great. No, with the challenges that we’ve had over the course of the last year and all these banking issues, we’ve tried to weather these storms. Goodbye. Weather the storms. It’s ridiculous. Okay? It’s ridiculous. One more that I have to talk to you about. It’s not banking. It’s the old people at Red Lobster filed bankruptcy. Okay? Chapter 11. But they got a $100 million loan first before they filed bankruptcy. But man, oh, man, they are still blaming the bankruptcy on the $20 all-you-can-eat shrimp deal.

Now, one thing that they had was they had a partner, and they have a seafood dam of Thai. Thai is in their seafood dam. And they were charging astronomical amounts for their shrimp. Well, if they overpaid for something, that’s on them. That’s their stupidity. But to blame a $20 discount and being able to get a discounted shopping price for seafood, all-you-can-eat, $20, you know, it’s ridiculous, guys. They had problems because when you research it and hear anything about Red Lobster, they couldn’t get shrimp from anybody. If you were killing it, if you were selling tons of anything, there’s always some supplier that will line up and say, oh, we’ll give these guys a shot.

They couldn’t get product, okay, a year ago. So this has been an ongoing problem forever. And the CEO, by the way, they’ve had five CEOs since 2021. Okay, that sounds like a stable company. So five CEOs since 2021, they filed bankruptcy. All these people lost their job. Thousands of people have lost their jobs now. It’s horrible because, you know, when you think of all these people that showed up, didn’t get any advance notice, didn’t get an email, just showed up for their shifts and there’s no money. Well, what about payroll? What about things like that? We haven’t heard any of that stuff yet.

But it’s very sad that these people are in that position. But once again, they’re complaining about this great shrimp deal that they did. How ridiculous is that? So you’re going to see more and more businesses like this go out of business than you will turn it around right now. And hey, I have great news. Our Manhattan location in New York City is going to get to stay open. We’re going to be able to have a red lobster there. Can’t wait. Let’s go to New York City, guys. So let me know what you think about this.

Share your thoughts on all this stuff. If you heard this about Comerica Bank, would you stop dealing with them? And again, Sam said, just like I did, that this is all hearsay. We’re hearing a story from some executive. Was Mr. Bitchon just saying, hey, listen, don’t worry, babe, I got it covered. You know, I’m going to be okay and make all this money when they go down. But that is sick. That’s criminal. I’d love to find out who Mr. Bitchon is, just because I’d like to see him not get that if he knows that this place is teetering and going to file bankruptcy and we’re going to get caught holding the bills as American taxpayers.

Let me know what you think about that. I always get a kick out of flying now because it’s horrible, okay? It’s just not what it used to be when I was a kid. It is a cattle car. It is ridiculous. Now, on my flights from this trip to go see my son graduate, I flew in an airline that constantly said, hey, listen, we overbooked this flight. We need 14 people, 14 to take a later trip. Now, we will give you a cash voucher, which will be like a Visa card so that you can go do it and I have the authority to give you $1,400.

Now, I was like, wow, tell him you want $5,000 and you’ll consider it. Now, I was flying into Boston and needed to make it to Fenway Park or I would have messed with these people severely if I had nothing to do that night. But the $1,400 immediately went up higher and higher and higher. This guy leans over to me and goes, can you negotiate those deals? I said, tell him what, $10,000 and you’ll give up your seat immediately. But 14 people, you know, when was the last time you went on to book any flight? And they said, hey, only two left at this flight, at this price.

And they do it all the time, but they overbooked it by 14. How? If any of you work in the airlines and you can tell me how they can overbook a flight by 14 people, the $2,400 got, excuse me, the $1,400 got to $2,400 because people were asking for it. Wow, it’s a Visa gift card, MasterCard or American Express. What do you want? And we will send that to you and you will get this, you know, and you just come later. Same thing happened on the way back. We have 14 people.

I’m like, what’s this magic number with 14? So, again, there’s that. So, I don’t believe it, but I think they were overbooked it. But again, if you are ever in that situation, ask for more. The worst thing, you can’t go up. You can’t sit there and say, $1,600. Okay, we’ll pay us. Now I want $2,300. You can’t do that. You can ask for $5,000 or $4,800, something crazy, and see if they’ll give it to you. Now, Spirit Airlines, which arguably is one of the worst airlines I’ve ever flown on, that and Frontier. Frontier last week announced that they’re going to have no more change or cancellation fees effective immediately.

And Spirit said, hey, we don’t want to be called the worst airline, so we’ll join the second worst airline, Frontier. Again, neck and neck. So, they’re not going to have cancellation fees for Spirit and Frontier Airlines as of now, which is how it should be. I am telling you guys, I flew to Las Vegas from Orange County. It was the worst experience ever. I’ve told you the story, but I would elaborate with anybody on why you don’t want to fly either airline. I had a horrible experience in Frontier and a horrible experience on Spirit.

Ridiculous. And I’ve had people write me, you just don’t understand discount airlines. Dan, you need to just sit there and book it and not bring luggage and not, you know, have any extras. You mean, like, you’re going on a trip. What am I going to go pick up the cocaine and bring it back? Is that what I’m going to Las Vegas for? No, I thought I was going to go stay there for a business trip. Oh, okay. Well, then I guess you do have to have luggage or a carry-on bag or anything like that.

Or, you know, you have friends in Vegas. Could somebody take your bag in advance? That’s what somebody asked me, okay? Lunacy. The osempic news, which is the weight loss drug, which, again, I am telling you guys, from all the people I know in the medical space that have reached out, yeah, Dan, you’re totally right. All the biotech, all the physicians, all the scientists, we don’t know what the ramifications are to these drugs yet. No idea, okay? So will there be side effects? You bet. There always is. But what are they? Now, the company Hymns and Hers, which Hymns and Hers, you know, that you can go to hymns.com and get yourself Viagra, Cialis, and all that fun stuff that you kids need, you can get that stuff from them.

But Hymns and Hers is now going to have an open weight loss contract that you can get for $200 a month, and you can take their alternative to osempic for $200, guys. Come on, fatty. Just keep eating. Keep shoveling the food down your thing, but inject this thing into yourself once a week. Don’t change your lifestyle, and you’re going to lose weight. Now, $200 a month, you get unlimited doctor consultations via Zoom or over the phone or whatever they want to call it. That’s what they have planned. So would you do that? Would you know of anybody that would do that? But it’s only $200 a month.

And again, this is the beginning of this, two more and more people that are going to have programs like this. So let me know what you think about this, and would you do that? Now, a few things in retail that are very interesting. First one is Target. Target is facing fierce competition. Fierce, they say. And they’ve had a lot of debacles over the last year, and I won’t go into those. We’ve already talked about that stuff. But they are saying that people are having real, real financial difficulty getting by. So Rick Gomez is their chief executive for Food Essentials and Beauty.

He says we’re lowering the price on 5,000 items. We originally announced 1,500 items. It wasn’t enough. We’re going to lower food. We’re going to lower beauty. We’re going to lower coffee, butter, everything, that people buy on a regular basis from a Target store. And we’re going to lower it on these 5,000 items. Will this motivate you to go to Target? Now, personally, I like the Target, the small mini Target stores. Those are great because once you figure out the store, you know exactly where to get everything, come get it. You have to check yourself out.

They don’t have any cashiers. Always ask for help if you’re not sure because you don’t want to be accused of stealing a TV set or anything like that like they’ve done to other people in the past. But this is going to be a big deal moving forward because you’re going to see Ferris Competition with all these 99-cent stores going out of business. It is just a matter of time until you’re going to see these companies either cut prices or go out of business. So I don’t think Target’s going out of business anytime soon, but they are going toe-to-toe with Walmart right now and trying to make it themselves better.

Now, Staples. Staples has a rewards program, and what they’ve done is they want to do more recycling. Okay, well, that’s great. Think about this number. 7,000 tons of e-waste was recycled through the Staples stores, you know, the copy paper in that store, office supply store. 7,000 tons of merchandise last year. That’s a lot. But one thing that they do is they pay you for this stuff to be dropped off if you have ink cartridges, if you have the old computers, everything like that. You can turn that in and they will pay you for that and give you store credit.

There was a company that was swallowed up by Staples called Office Max who had the greatest program ever. I would buy things for my business and you would get these 10% coupons that would just get added on, added on, added on. I would save them for my kids to run. They would go back to school. One year we had $750 worth of, you know, free merchandise that we would go get from the store. So they got a year and a half’s worth of supply at Office Max. It was absolutely fantastic. And they haven’t had anything like that since, but Staples realizes that there’s a real problem with this and that’s what they’re trying to do to get you, to lure you back in.

Now, will that lure you back in the store? Who knows? Who knows if that’s going to be the thing that’s going to do it? You know. But we all use those ink cartridges. We all burn out of them. You know, the printer cartridges, all that stuff, we walk through. Now, Tesla, this is very interesting. Tesla says that they have the lowest price lease in the EV market right now, which they used to have something. It was $2,999 down, $299 a month. The only problem with this, every time I’ve looked at these, it’s 10,000 miles a year, guys.

Then you have the penalty that could be as high as 30 cents a mile. That’s insane. Well, they just said, listen, we’ve lowered our lease to $216 a month. $216 a month. And then the analyst from the store, read it below, is saying, hey, this is now a $30,000 EV car. No, it’s not. Again, do not lease a car ever, ever, ever, ever, unless your accountant or financial planner tells you that it’s the way to go. Because it is an absolute financial disaster for you because you’re responsible for everything on that vehicle after you drive it out of this place.

They’re not going to fix it. They’re not going to do repairs. You bring back bald tires. You’re going to buy the bald tires, guys. I know this because I leased a vehicle once, twice, and you have to negotiate the turn-in of the vehicle because, oh, it didn’t look like this before, and they stick you with it. Now, the mileage, I couldn’t find out the mileage for the $216 a month. And again, people, quit ripping on Tesla. Quit talking to EV cars. You have a company that is lowering the price any way that they can just to get themselves out of the trouble that they are in right now.

So now they have a $216 lease. Who’s that for, guys? Who’s it for? Because if you need to lease a car, do it. If it makes financial sense for you, do it. $2,900 down, $216 a month. You cannot drive it far. You cannot drive it 20,000 miles, 30,000 miles, 40, no. Most times, these are 10,000-mile leases, which are awful. Let me know what you think about that. I’m going to finish this video with these last two stories. One thing I covered last month that people sent a lot of e-mails for was the car company selling cars that were basically damaged in head-on collisions, never should have been put in the road, and they either had no airbags in the car or had fake airbags.

Well, now there’s a company, Drive Time, that’s getting sued by the family members of Destiny Biassi because she was driving in a car that was originally a rental car from Enterprise. The rental car never should have been on the road. The thing was in a major collision a few years back. They put it back on the road, put a counterfeit airbag in the car, and this woman’s dead now because of that. So check these cars out, guys. When you buy a car, I’m telling you, get the car facts, get everything that you can before you make the decision to purchase these cars.

I know people get desperate, and they say, I got to get a car right away. And then they, you know, this woman’s not around because of that. So there’s that. Now, final, final story. We’ve talked about things that are overpriced and outrageous. Have you ever heard of a Ruby Glow pineapple? I had never heard of this, and good old CNN shared this story where they’re talking about how Melissa’s Produce is a high-end store, but they have a $395 pineapple because the outside’s got red skin to it. Who cares? It’s going to buy a $400 pineapple right now in this economy.

So let me know. Have you ever had a Ruby Glow pineapple? I’ve never even heard of it until I saw the picture of it. So please don’t forget to hit the Like button. Please don’t forget to subscribe to the channel. Make sure you are part of our email list because we have another one going out next week, and you don’t want to miss that. If you want to get ahold of me, hello at iallegedly.com. I appreciate each and every one of you guys, and I will talk to you guys very soon. [tr:trw].

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