California Business Closures and Job Loss tracking thread (San Francisco, Oakland: hotels, buy)

[CaliRestoration]

https://www.wsj.com/articles/coronav...ys-11588863600

Unemployment in California will hit 18% this year and the state will grapple with a $54.3 billion hole in its budget caused by the coronavirus-induced recession, the governor’s finance office said Thursday.

Personal income-tax revenue is expected to decline by 25.5% in the next fiscal year, with other, smaller tax categories falling roughly the same amount. California relies heavily on the personal income tax for revenue, with much of that coming from the highest earners.

Like most other states, California law requires the state to pass a balanced budget each year. Without aid from the federal government, Mr. Newsom and the legislature would have to enact a combination of large spending cuts and tax increases.

[Tulemutt]

Originally Posted by CaliRestoration

https://www.wsj.com/articles/coronav...ys-11588863600

Geez, without CR as a news source no one in California would know any of this ... it’s not like just anyone can read the WSJ, or dozens of other media featuring these “insider only” articles. We are so lucky to have CaliRestoration working hard to keep us informed!

Too bad he won’t do the same for the other 49 states. Or even his own home state for that matter. He just wants to help Californians. Isn’t that special?!

[CaliRestoration]

https://www.sandiegouniontribune.com...the-coronvirus

Souplantation, the popular buffet-style dining brand founded in San Diego 42 years ago, is closing all of its restaurants permanently.

Another 2,000 jobs in California gone due to Newsoms lockdown.

[Mike930]

Originally Posted by CaliRestoration

https://www.sandiegouniontribune.com...the-coronvirus


Another 2,000 jobs in California gone due to Newsoms lockdown.

False.

Nice try. If you actually read the article, it had nothing to do with Newsom’s lockdown. It’s due to the virus and the FDA recommendation that self serve self models be discontinued.

From the article you linked:

“The FDA had previously put out recommendations that included discontinuing self-serve stations, like self-serve beverages in fast food, but they specifically talked about salad bars and buffets,” said John Haywood, CEO of Garden Fresh. “The regulations are understandable, but unfortunately, it makes it very difficult to reopen. And I’m not sure the health departments are ever going to allow it.“

“We could’ve overcome any other obstacle, and we’ve worked for eight weeks to overcome these intermittent financial challenges but it doesn’t work if we are not allowed to continue our model.”

[RMESMH]

Originally Posted by Mike930

Some people had to leave the state because they didn’t like it or couldn’t cut it and needed a lower cost of living area. Those people can get bitter and envious.

Those people also try to convince others they’re well off when they’re actually struggling. It’s the internet. You can say anything but it doesn’t make it true.

I remember CR posting the bottom of a brokerage account statement, with the balance showing, not too far from this time he left California.

Unless you’re saying that was a lie, that he got ahold of someone else’s statement and posted that, then CR definitely does not fit what you are mentioning above.

[RMESMH]

Originally Posted by 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:



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.

TM, that’s a dead link.

That’s a good newspaper though. It’s a fairly thick freebie with a lot of ‘placement stories’ that are really ads (and they don’t try to hide that), but the stories they do do......they dig pretty deep and provide quite a bit of documentation.I don’t know how they approach the other Metros that are part of their portfolio, but in Houston they have a number of different editions covering different parts of the Metro area.

[RMESMH]

Originally Posted by CaliRestoration

Well I can give you a small picture of how the top is looking (you can look at the other states yourself).

California has the highest amount of unemployment claims[/b] in the country at 4.1 million (and climbing) and is still under Governor Newsom's lockdown.

New York is a distant second a 1.76 million and is currently under Governor Cuomo's lockdown.

Texas is third at 1.3 million, but the state reopened most businesses May 1st under Abbott's orders, and will reopen more business types tomorrow (5/8). Those claims will undoubtedly start falling this month.

Florida is forth at 1.1 million, but like Texas, the state has chosen to reopen its economy and I predict the number of claims will begin dropping this month.

I’ll finally be able to pursue getting a haircut .

[Tulemutt]

Originally Posted by RMESMH

TM, that’s a dead link.

That’s a good newspaper though. It’s a fairly thick freebie with a lot of ‘placement stories’ that are really ads (and they don’t try to hide that), but the stories they do do......they dig pretty deep and provide quite a bit of documentation.I don’t know how they approach the other Metros that are part of their portfolio, but in Houston they have a number of different editions covering different parts of the Metro area.

Try this. Same story. Same paper: https://communityimpact.com/houston/...-pro-tem-says/

[Tulemutt]

Originally Posted by RMESMH

I remember CR posting the bottom of a brokerage account statement, with the balance showing, not too far from this time he left California.

Unless you’re saying that was a lie, that he got ahold of someone else’s statement and posted that, then CR definitely does not fit what you are mentioning above.

Personal pictures on the internet of pieces of redacted paper mean nothing, RMESMH. You know that.

[Mike930]

Originally Posted by RMESMH

I remember CR posting the bottom of a brokerage account statement, with the balance showing, not too far from this time he left California.

Unless you’re saying that was a lie, that he got ahold of someone else’s statement and posted that, then CR definitely does not fit what you are mentioning above.

I could create a brokerage account statement using any number of programs to say anything I want. It means nothing. Who posts anything like that anyways? If someone truly had millions of dollars, who cares what people think? Why would they post that? Sounds like a desperation move.

There’s a credibility issue. Look at the Souplantation article he posted trying to blame the lockdown. It’s obvious there’s an agenda.