Here's a story that will bring a tear to the eye of every commuter.
The guys that operate the red light cameras are suffering big time in the Covid-19 crisis.
Redflex Holdings, an Australian company, operates red-light cameras ("traffic safety programs") in 100 U.S. and Canadian cities.
Seems that when people run that red light or speed, Redflex Holdings gets a slice of the fine.
Problem is, according to the Wall Street Journal, people aren't out driving. That means fewer tickets and less money to Redflex Holdings.
So they evidently have a liquidity problem. And the stock is down up to 46%.
Rick Good spent ten years in the newspaper business, including with The News & Observer (Raleigh, NC) and The Greenville News (Greenville, SC). He co-wrote, with Melinda Coleman, Rutledge to Riley: Governors of South Carolina, 1776–Present (Published by The Greenville News), and is the author of Mind Games Trivia #1 (Amazon). He has recently spent 15 years creating original trivia content through Sounds Good Mobile Entertainment and continues that with his new company, SGME Software. He edits The Smart Reader’s money, real estate, and business coverage.
