California Business Closures and Job Loss tracking thread (San Francisco, Oakland: home, drywall)

[bad debt]

Originally Posted by HereOnMars

A decent person doesn't do things like that. What a shame.

Key point.

[TR95]

Originally Posted by CaliRestoration

The SBA ran out of funds very quickly on the national level. As someone who still has many connections in the California business community, I know many small business owners did not get funds from the SBA before they ran out, and those that did only got enough money to float them for MAYBE another 60 days.

If you’re lucky enough to get a PPP loan, you have two months from the receipt of funds to use it for payroll, utilities, rent, etc. or it’s not forgiven. It’s just like a loan if you don’t have the same payroll as prior to receipt. That’s why it’s crucial to open up the stores. Also, tired of hearing Newsom talk about how he understands since he started businesses. Right, idiot, with unlimited funds from Gordon Getty. He hasn’t done **** on his own. Very similar to Trump. Although, I’d say Trump has done more than Greasy Boi.

Also, Not sure if the debt numbers are accurate for CA (thought they had $500B), but regardless, Ca’s debt is double Wyoming’s when looking at it as a % of State GDP. Future will be telling what happens to CA. Sure it will survive just wonder how much we’ll be taxed now.

[JGC97]

Originally Posted by CaliRestoration

It's not a huge loss, it's astronomical, almost unprecendented. We're talking about potentially 60% of California small businesses being shuttered by August 2020. Kaput, never to come back, gone.

Now, because of homerism, people are trying their best to ignore it (I'm glad you're not ignoring it apparently), why should we ignore it, and not talk about it?

This seems like something that should be (respectfully) talked about, wouldn't you agree?

Not just astronomical, it's depression-era numbers, CR. I'm not minimizing it at all but I'm not in a position to do anything about it except believe we can recover. I know we'll recover, though. My parents lived through the Great Depression and they survived so I know we (people in the U.S) can too. I just don't feel that adding a little laughing face after many of your sarcastic gloom and doom posts serve a purpose.

So, if you want to discuss it, good. Just refrain from acting like you're laughing at all of us here. This is neither funny nor amusing. It's downright scary.

[Tulemutt]

Originally Posted by HereOnMars

Not just astronomical, it's depression-era numbers, CR. I'm not minimizing it at all but I'm not in a position to do anything about it except believe we can recover. I know we'll recover, though. My parents lived through the Great Depression and they survived so I know we (people in the U.S) can too. I just don't feel that adding a little laughing face after many of your sarcastic gloom and doom posts serve a purpose.

So, if you want to discuss it, good. Just refrain from acting like you're laughing at all of us here. This is neither funny nor amusing. It's downright scary.

Of course it serves a purpose ... exactly the purpose CR has in mind.

Ah, the Great California Demise. One after another. Just in the past decade the state has completely failed and collapsed in a heap of ashes: the drought; the Great Recession. All the thousands of forum posts about those imminent catastrophes were right: we died of dehydration by the droves; the farms failed by the droves; the real estate became worthless (by droves); the state’s populations shrank by millions and millions and 10’s of millions of droves; damn near every business collapsed and moved to Texas in droves; the state ran out of money(yes: droves of money ... just gone ... evaporated); the GDP shriveled up until we found ourselves worst in the nation and about 300th internationally.

If it hadn’t been for the revenue from, what was it? - legalizing pot, right, that was it - only the illegals would be living in Carmel and Dana Point.

And now it’s happening again.

I hear Wyoming is making a bid to take over the state: $0.01/2 on the dollar, so they can run some more sheep along the soon-to-be desolate coastline.

*sigh*

[Tulemutt]

Originally Posted by CaliRestoration

It's funny you brought up Wyoming (by accident of course), because it's one of the most fiscally healthy states in the entire country.

https://www.truthinaccounting.org/li...S-Booklet-.pdf

Very little debt, ability to service debt is exceptional, and long term liabilities minimal (compared to other states). Standard and Poor's, which I'm sure you're familiar with since you're obviously a skilled investor , rates Wyoming bonds at AAA (extremely strong).

California on the other hand is merely rated at AA-, A- if we're talking about lease obligation bonds.

To put it another way...

If Wyoming were a person, he would be a low wage earner, say $35,000/year with about $35,000 in debt (car loan, school loans, etc). Wyoming would also have about $40,000 cash in the bank as a reserve account. Not exactly "balling out", but not exactly in danger of going bankrupt as long as things stay relatively the same. Also since Wyoming doesn't have to support a lot of free loaders in his house, or friends who may be staying his home illegally who contribute far less than any other member of his household, his finances stay relatively healthy.

If California were a person, he would be a high wage earner, around $250,000 a year, but with $1.5 million in outstanding debt (and growing). Not only that, California has to go to daddy to sometimes get loans to keep from going insolvent, and just recently got a loan of up to $10,000 from daddy. California claims it has about $20,000 in reserve, but no one knows where it is, and even if it's still there especially since California keeps giving away $8,000/year to its undocumented friend no strings attached.

So in a nutshell, there's a reason the bond rating agencies rank California below Wyoming when it comes to fiscal health.

I'm glad you brought up Wyoming.

Simply amusing. The guy who presents himself as a multi multi-millionaire genius businessman - thinks an analogy between the strongest state economy in the world’s leading economy - and the smallest state economy has any equivalency to an individual cowboy.

A highly diversified multi-trillion dollar state economy has no parallel to an individual cowboy truck driver who ranches sheep on the side.

Lmfao. You’ve outdone yourself CR.

[CA4Now]

Originally Posted by HereOnMars

I just don't feel that adding a little laughing face after many of your sarcastic gloom and doom posts serve a purpose.

So, if you want to discuss it, good. Just refrain from acting like you're laughing at all of us here.

Now, come on, Mars. That's his M.O.

[amokk]

Originally Posted by HereOnMars

Not just astronomical, it's depression-era numbers, CR. I'm not minimizing it at all but I'm not in a position to do anything about it except believe we can recover. I know we'll recover, though. My parents lived through the Great Depression and they survived so I know we (people in the U.S) can too. I just don't feel that adding a little laughing face after many of your sarcastic gloom and doom posts serve a purpose.

So, if you want to discuss it, good. Just refrain from acting like you're laughing at all of us here. This is neither funny nor amusing. It's downright scary.

He's just trying to get a rise out of people for kicks. Nothing new to see here.

[JGC97]

Originally Posted by Tulemutt

Of course it serves a purpose ... exactly the purpose CR has in mind.

Ah, the Great California Demise. One after another. Just in the past decade the state has completely failed and collapsed in a heap of ashes: the drought; the Great Recession. All the thousands of forum posts about those imminent catastrophes were right: we died of dehydration by the droves; the farms failed by the droves; the real estate became worthless (by droves); the state’s populations shrank by millions and millions and 10’s of millions of droves; damn near every business collapsed and moved to Texas in droves; the state ran out of money(yes: droves of money ... just gone ... evaporated); the GDP shriveled up until we found ourselves worst in the nation and about 300th internationally.

If it hadn’t been for the revenue from, what was it? - legalizing pot, right, that was it - only the illegals would be living in Carmel and Dana Point.

And now it’s happening again.

I hear Wyoming is making a bid to take over the state: $0.01/2 on the dollar, so they can run some more sheep along the soon-to-be desolate coastline.

*sigh*

Are you kidding me? You're minimizing what's happening here with regard to our economy? I don't mean to be harsh but how would you even know, Tulemutt? You're up in Washington. Are you aware of the unemployment rate we have here now? Did you listen to the governor this afternoon. He's very concerned and I am too.

We have a lot of small businesses that aren't going to re-open. And the money in our general fund is pretty well gone. The only good thing is it might not end up being as bad as it could be. Thankfully, there was a reserve there. It's been a godsend having it there. Stop being so pompous. You aren't even here to witness it. smh

[Tulemutt]

Originally Posted by HereOnMars

Are you kidding me? You're minimizing what's happening here with regard to our economy? I don't mean to be harsh but how would you even know, Tulemutt? You're up in Washington. Are you aware of the unemployment rate we have here now? Did you listen to the governor this afternoon. He's very concerned and I am too.

We have a lot of small businesses that aren't going to re-open. And the money in our general fund is pretty well gone. The only good thing is it might not end up being as bad as it could be. Thankfully, there was a reserve there. It's been a godsend having it there. Stop being so pompous. You aren't even here to witness it. smh

Easy does it, Mars . No, I’m not minimizing the situation at all. And the comments I made weren’t aimed at you either. I was poking fun at CR’s incessant prognostications of doom and gloom.

I am pointing out that a few years back the Chicken-littles were wringing their hands over the drought killing California ... then it started to rain for a couple years.

Before that it was the Great Recession that was going to put the final nail in the state coffin ... and yet we rebounded to leap forward several notches in world dominating economy ... I think we had slipped to 9th and now are at 5th.

Point being: this won’t kill California either.

And I’ve been north here for all of about 6 weeks. But not out of touch for a day. I follow the news. I stand in 6’ spaced lines up here just as I was doing south until 6 weeks ago. Washington was the nation’s first hot spot and still running as one of the very hard hit communities. Unemployment everywhere. Two of my kids are still working and one isn’t. Neither is my girlfriend. I’m retired and supporting three. Lucky to be in a position to help.

You’ve really jumped to a number of hasty assumptions about my posts in recent months. Not one of them was aimed at denigrating anything you’ve said or opined. Sorry the shut down has you on edge. Always enjoyed our exchanges previously - regardless of differences in some. Be well, and best regards.

[Tulemutt]

Speaking of the OP’s efforts to “educate” us all ... CR, here’s some news from Texas you can start a thread on in that state forum:

Houston looking to furlough all city employees except fire/police - 20% cut pale in comparison.

https://communityimpact.com/houston/...-pro-tem-says/

"Houston Mayor Pro Tem Dave Martin, who also chairs the city's budget and fiscal affairs committee, said the city will likely furlough all employees who are not in the police or fire departments to make up an expected $200 million budget shortfall."

I’ll try to keep feeding you opportunities to share across the country so you don’t have to burn yourself to a frazzle over our demise here in California.