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Restaurants in NYC can't pay full rent in July   The Newsy You: News of Today

Started Aug-4 by MerlinsDad; 987 views.
MerlinsDad

From: MerlinsDad

Aug-4

news item August 4
from Morning Brew, a daily newsletter which focuses on financial news.  No link
I suspect this is a national wide problem and that the percentages in most cities are similar to those in NYC

Restaurants across the country are folding, but nowhere is the crisis more pronounced than the Brew’s own stomping ground. 

In July, 83% of NYC bars, restaurants, and nightlife establishments weren’t able to pay full rent, according to an NYC Hospitality Alliance survey of 471 businesses. 37% couldn’t pay at all.

  • Some landlords have tried working with battered tenants: Almost 29% waived some rent. But struggling with bills of their own, most did not. 

NYC’s commercial tenant eviction moratorium expires tomorrow. The Hospitality Alliance has asked for an extension, as well as extra support for landlords. 

NYC allowed margs-to-go and, with indoor dining banned indefinitely, set up the Open Restaurants program to convert sidewalks, parking spaces, and even streets into outdoor dining spaces. Nearly 10,000 restaurants signed up, helping an estimated 80,000 laid-off employees get back to work
 

Over 2,800 NYC businesses have closed since March 1, the most of any major U.S. city, according to Yelp. Of those, minority- and female-owned businesses were likely the most vulnerable

In reply toRe: msg 1
Showtalk
Staff

From: Showtalk

Aug-4

There is only one thing responsible for this, the complete shutdown of society and businesses.  What did they expect would happen?

Many of those restaurants will never re-open. I saw an article about that a couple of days ago.

MerlinsDad

From: MerlinsDad

Aug-4

And if the number of closed restaurants and bars in other cities are comparable, it's going to take a long time for the economy to recover.  We could be looking at high unemployment figures for quite a while.  You posted a news item about the number of potential evictions in the immediate future.  We could have huge numbers of unemployed, homeless people in the immediate future.  And you've seen images of the long lines at soup kitchens in the Great Depression.

Congress needs to resolve their differences and act to prevent such a catastrophe.

MerlinsDad said:

And if the number of closed restaurants and bars in other cities are comparable, it's going to take a long time for the economy to recover. We could be looking at high unemployment figures for quite a while. You posted a news item about the number of potential evictions in the immediate future. We could have huge numbers of unemployed, homeless people in the immediate future. And you've seen images of the long lines at soup kitchens in the Great Depression. Congress needs to resolve their differences and act to prevent such a catastrophe.

One thing in my experience that politicians can be counted on is to either fail to act when they need to, or they act and make things worse, rather than better.

The Great Depression soup kitchen lines - you ain't seen nothin' yet. And I suspect that the worst outbreaks ever seen, the ones that will truly scythe through the most vulnerable populations, will be spread directly as a result of new poverty and desperation, as far too many people compete for far too few resources.

Sleeping rough is well documented to exacerbating just about every negative health outcome imaginable to man, plus it significantly increases exposure to just about everything. So Covid-19 sickness and deaths will spike, but we may very well see far more problems from things like diabetes, heart disease, alcoholism complications, and numerous other communicable diseases such as tuberculosis, and assorted vermin vectored diseases including even bubonic plague, scarlet fever, Lyme disease, and in warm mosquito infested climates, malaria, yellow fever, West Nile, and a whole other raft of problems.

Throw in large numbers of families with small children, especially those who never could access assistance due to their immigration status, and we could easily see a body count over the next year that could dwarf the Holocaust.

Then factor in the whole exposure to the elements. There will be people who die of hypothermia when it rains and their sleeping bag gets wet, and large numbers that freeze in the winters of the Snow Belt. There will be deaths of heat stroke in places like Arizona and southern Nevada because there is still a couple of months of extreme heat. I'd also expect large numbers of deaths from carbon monoxide poisoning due to improvised means to try and stay warm, and likely quite a few that actually are victims of fire from all kinds of living conditions that do not even come close to meeting even basic health and safety codes.

I would wager that non-Covid-19 deaths that are traceable to homelessness would possibly be as high as 100:1 in some areas. History will not judge this nation kindly.

Showtalk
Staff

From: Showtalk

Aug-5

No, we made a dreadful mistake allowing businesses to be closed.  I found a nail salon for a friend that is doing nails outdoors and told her.  Then I found out salons are supposed to be closed.  If she IGs their name and address, they could be shut down.  It’s horrific that they are still trying to destroy businesses.  A woman I know on another site said her husband lost his business of 30 years because their governor decide his service was not essential. It is.  Not only that, all his employees are out of work permanently because a governor decided to pick winners and losers.

MerlinsDad

From: MerlinsDad

Aug-5

And Congress is taking forever to decide how to construct the next stimulus.   The Republicans are blaming the Democrats for digging in their heels over some key items, yet McConnell is probably the one to blame because the Democrts had their program ready several weeks ago, waiting for McConnell to bring it to the floor for the type of negotiations we're getting after the critical unemployment bonus has expired and there's no good answer on extending the moratorium on evictions. 

I just read that some Republicans are already saying they can't support just about anything which comes out of the negotiations because the $1 trillion deal was their best shot.  The conservatives want to dole out as little as possible, of course.   David Perdue of Georgia is a Trump minion

"There is a little progress, but it is not very encouraging," Sen. David Perdue, a Republican from Georgia up for reelection, said Wednesday. "As a practical guy working on this, I am worried. My caution is that we don't do something that is very irresponsible."

There seems to be a clear correlation between closing bars, restaurants, gyms and other places where people are tightly packed together and a decline in Covid_19 cases.  There is also a correlation between opening prematurely and outbreaks of the virus in places like Florida, Arizona, Georgia, Texas, and now California. 

Your apocalyptic vision may be fairly accurate, sad to say, if Congress doesn't act soon.

Showtalk said:

Not only that, all his employees are out of work permanently because a governor decided to pick winners and losers.

When bureaucrats pick winners and losers, they usually screw things up.

Showtalk
Staff

From: Showtalk

Aug-6

In this situation, they screwed up badly.

  • Edited August 6, 2020 11:27 am  by  Showtalk
Alfi (THIALFI)

From: Alfi (THIALFI)

Aug-7

The rampant crime doesn't help, nor does the city's ROR policy.

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