How's everyone doing amongst the Coronavirus shut down? (Philadelphia, Springfield: floors, stores)

[kyb01]

Originally Posted by Pennsport

And... right on cue https://www.yahoo.com/news/coronavir...122824791.html

My friend in the Nebraska panhandle is telling me about what's going on there. Colorado has a lot of cases. She lives about 3 hours away from Denver. So....

[selhars]

Fortune 500 companies will mostly survive this but many small business owners with rent and overhead will not. Any that were on the margins before are likely to fold.

So many factors....
-- Did/does the business owner, also OWN the building, have a rent to pay? or no mortgage
-- A business owner who was relatively close to retiring may just go ahead and do that, and forego reopening (but resell when things turn around)
-- Will their customer base still have money to patronize them.

I know that on the retirement board some people are thinking of retiring later this year are considering just retiring now.

But most entrepreneurs really want -- and prefer -- to be entrepreneurs. They aren't interested in "working for someone else." So they are a tough bunch. I'd think most who are in retail, entertainment and/or dining, etc. would reopen if there's any way they can.

I know economists are talking about pent up demand after this is over. But I'd suggest people SAVE more after the economy opens up. Not spend mindlessly.

[kyb01]

Originally Posted by TownDweller

It's sad, I am sure a lot of old mom and pop places will not make it. When I walk through my neighborhood I wonder which ones will still be there when things turn around. Fortune 500 companies will mostly survive this but many small business owners with rent and overhead will not. Any that were on the margins before are likely to fold.

Wrt big companies, Macy's "bricks and mortar"will die, I think. I'm trying to imagine the huge NY complex being abandoned. Sigh.

[TownDweller]

Originally Posted by selhars

So many factors....
-- Did/does the business owner, also OWN the building, have a rent to pay? or no mortgage
-- A business owner who was relatively close to retiring may just go ahead and do that, and forego reopening (but resell when things turn around)
-- Will their customer base still have money to patronize them.

I know that on the retirement board some people are thinking of retiring later this year are considering just retiring now.

But most entrepreneurs really want -- and prefer -- to be entrepreneurs. They aren't interested in "working for someone else." So they are a tough bunch. I'd think most who are in retail, entertainment and/or dining, etc. would reopen if there's any way they can.

I know economists are talking about pent up demand after this is over. But I'd suggest people SAVE more after the economy opens up. Not spend mindlessly.

If a small business owner owns the property it's a different equation, sure. And business owners are a resilient bunch. But what will demand be? Are people going to spend as soon as they can or will they set more aside in case of a second wave?

Restaurants are thin margin, high overhead businesses. It will be tough to stay afloat if revenue is dry for a few months then returns to less than normal.

The demise of retail has been written about endlessly in the past few years. This could accelerate it.

Then there is the issue of credit accessibility for small business owners... Will banks want to lend?

[TownDweller]

Originally Posted by kyb01

Wrt big companies, Macy's "bricks and mortar"will die, I think. I'm trying to imagine the huge NY complex being abandoned. Sigh.

The Macy's on 34th will be repurposed, no doubt. Into what, who knows?

[kyb01]

Originally Posted by selhars

So many factors....
-- Did/does the business owner, also OWN the building, have a rent to pay? or no mortgage
-- A business owner who was relatively close to retiring may just go ahead and do that, and forego reopening (but resell when things turn around)
-- Will their customer base still have money to patronize them.

I know that on the retirement board some people are thinking of retiring later this year are considering just retiring now.

But most entrepreneurs really want -- and prefer -- to be entrepreneurs. They aren't interested in "working for someone else." So they are a tough bunch. I'd think most who are in retail, entertainment and/or dining, etc. would reopen if there's any way they can.

I know economists are talking about pent up demand after this is over. But I'd suggest people SAVE more after the economy opens up. Not spend mindlessly.

The trade war is still going on, btw. It's only a fragile truce. So there are issues beyond the immediate situation which could extend into next year especially until there is a vaccine.

[moneymkt]

Originally Posted by TownDweller

To be clear, that mask is to protect others in case you have the virus, and may not even be aware of it.

I know but just had it ready to put on because I dont want to snap on anyone right now due to all the frustration inside of me

[cpomp]

Originally Posted by kyb01

Wrt big companies, Macy's "bricks and mortar"will die, I think. I'm trying to imagine the huge NY complex being abandoned. Sigh.

AMC is on the verge of declaring bankruptcy. Really sad since the nice fancy one in CC just opened.

I think Macys may hold on some of its best locations, but without a doubt the company might be a shell of its former self 1 year from now.

[moneymkt]

Originally Posted by cpomp

AMC is on the verge of declaring bankruptcy. Really sad since the nice fancy one in CC just opened.

I think Macys may hold on some of its best locations, but without a doubt the company might be a shell of its former self 1 year from now.

One of Macys worst locations is 13th and Market. Had to go to Cherry Hill to get a nice wallet

[ThinkPositiveRespect]

Originally Posted by cpomp

AMC is on the verge of declaring bankruptcy. Really sad since the nice fancy one in CC just opened.

I think Macys may hold on some of its best locations, but without a doubt the company might be a shell of its former self 1 year from now.

Bankrupcy can still have a restucture and remain in business too. The last thing Hollywood wants is no more theatrical released to profit from before streamings. Even if that time comes eventually like video renting.

Guess they will rely more on Asian theatrical releasing then?