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Post-Corona Economy
Posted: Sat Apr 11, 2020 8:36 pm
by TheCatt
Stimulus checks coming out
Post-Corona Economy
Posted: Mon Apr 13, 2020 10:03 am
by TheCatt
A handful of local small business have closed up (mostly restaurants) permanently. No idea as to their pre-virus financial strength, etc. So clearly their leaseholders won't get getting more $$$, and I dont think the CARES act provides free $$$ for that situation.
Post-Corona Economy
Posted: Mon Apr 13, 2020 10:04 am
by TheCatt
Post-Corona Economy
Posted: Mon Apr 13, 2020 10:31 am
by thibodeaux
And all restaurants are Taco Bell.
Post-Corona Economy
Posted: Mon Apr 13, 2020 10:32 am
by Leisher
I guess Disneyworld laid off 43,000 people today.
Also, Smithfield is closing for now. That's huge as they are part of the food supply.
CNN thinks Trump made at least one great hire.
Post-Corona Economy
Posted: Mon Apr 13, 2020 10:43 am
by TheCatt
Did an online order from Lowes home improvement yesterday. You can't/don't even go in the store. Just pull into a bin, call the store, and verify the order, and they bring it to you and put it in your trunk.
Post-Corona Economy
Posted: Mon Apr 13, 2020 10:44 am
by TheCatt
Leisher wrote: Also, Smithfield is closing for now.
Well, fuck.
Post-Corona Economy
Posted: Mon Apr 13, 2020 10:48 am
by GORDON
They've had bad press since they sold to the Chinese a decade (?) ago.
But, more unemployed don't matter, I've heard.
Post-Corona Economy
Posted: Wed Apr 15, 2020 9:13 am
by TheCatt
Economic data is starting to come in, and it's predictably
terrible.
Small businesses are shutting down due to uncertainty (at this moment, doesn't seem to be super widespread, but definitely happening, as reported in WSJ and others). Bonds yields took a tumble, financial companies (BAC + another) reported this week with bad earnings + large reserves set aside for declining loan quality.
Post-Corona Economy
Posted: Wed Apr 15, 2020 9:26 am
by GORDON
Trading 3 months of overcrowded hospitals for 3 years of.... I don't even know what the equivalent of Soviet-era breadlines would be. TP lines, apparently.
Post-Corona Economy
Posted: Wed Apr 15, 2020 9:38 am
by TheCatt
GORDON wrote: Trading 3 months of overcrowded hospitals for 3 years of.... I don't even know what the equivalent of Soviet-era breadlines would be. TP lines, apparently.
It's not over-crowded hospitals, though, it's death, until we can get (if we can) enough capacity to handle what the large influx of people would be. Without the equipment the fatality rate increases a lot.
Post-Corona Economy
Posted: Wed Apr 15, 2020 2:01 pm
by TheCatt
Some people are on a different level of crisis.
A South American family has paid close to $27 million for eight units at Waterline Square, a new construction residential complex on Manhattan’s Upper West Side, according to the buyers’ agent, Maria Velazquez of Douglas Elliman.
The buyers went into contract and closed on the all-cash deal on the same day, an extremely fast turnaround for the New York market, said Ms. Velazquez. She said her clients received a blended discount of more than 7% from the asking price of the units, which range in size from one to three bedrooms and span a total of roughly 11,000 square feet. Waterline Square, a three-tower project developed by GID Development Group, launched sales in 2017.
Ms. Velazquez declined to name the family who bought the units, but said they hail from Peru and purchased the units as an investment with plans to rent them out. The family was looking for a safe place to park their cash amid the uncertainty of the coronavirus pandemic and related economic fallout, she said. “They felt their money was safer in an apartment in New York than in a bank,” Ms. Velazquez said.
Post-Corona Economy
Posted: Wed Apr 15, 2020 2:08 pm
by Troy
Ah yes, following the business lesson of how Scrooge McDuck made it through the Great Depression by investing heavily in luxury apartments.
Post-Corona Economy
Posted: Thu Apr 16, 2020 9:08 am
by Leisher
Republicans being blamed for loophole in CARES Act rewarding millionaires with stimulus checks.
Either way, Ds should shut up about it because...
Senate Finance Committee Chairman Chuck Grassley said in a statement: “Every senator criticising this provision voted for this bipartisan bill, so their complaints about a law they helped write simply stink of partisan politics."
They both authored this bill. Just close the fucking loophole and let's move on.
Post-Corona Economy
Posted: Thu Apr 16, 2020 9:15 am
by TheCatt
I'm going to go a little out there and say people making $1M don't really need relief.
Post-Corona Economy
Posted: Thu Apr 16, 2020 9:19 am
by Leisher
Bold statement.
Post-Corona Economy
Posted: Mon Apr 20, 2020 2:32 pm
by Leisher
Post-Corona Economy
Posted: Mon Apr 20, 2020 2:51 pm
by TheCatt
Leisher wrote: Every time I turn around it seems the wrong companies are getting the money meant for SMBs.
Because that's all the news is going to report. This was a $350Bn pie. There's going to be some mistakes. The ones I've read about all totaled up to less than $100M, aka 0.03% of the PPP funding.
Post-Corona Economy
Posted: Mon Apr 20, 2020 3:50 pm
by GORDON
Is anyone still saying, "These businesses should have been run better?" Among other things, I'm not looking forward to only have large, corporate chain restaurants, when this is all over.
Post-Corona Economy
Posted: Mon Apr 20, 2020 3:55 pm
by TheCatt
GORDON wrote: s anyone still saying, "These businesses should have been run better?"
I'm sure someone is.
GORDON wrote: Among other things, I'm not looking forward to only have large, corporate chain restaurants, when this is all over.
Right? We've only gone to local places since the quarantine hit (takeout). But it's a drip in the ocean.
How's your mom's place doing?