How are small local restaurants and cafes going to survive the winter? (Washington: closing, live)

[eschaton]

IMHO, there's really only two possible outcomes at this point.

1. When we have a new federal government in January, as part of some comprehensive economic stimulus bill aid is given directly to struggling small businesses to remain in business (or to reopen if they have closed).

2. If no such aid is given, chains will step in to fill the void, as they'll still have access to private capital during the recovery while the (former) small businesses will not.

[erieguy]

Originally Posted by eschaton

IMHO, there's really only two possible outcomes at this point.

1. When we have a new federal government in January, as part of some comprehensive economic stimulus bill aid is given directly to struggling small businesses to remain in business (or to reopen if they have closed).

2. If no such aid is given, chains will step in to fill the void, as they'll still have access to private capital during the recovery while the (former) small businesses will not.

I’d wager on number 2.

[erieguy]

Originally Posted by BUILD PENN SQUARE

so "when restrictions are lifted" that's an absolute guarantee they won't be reinstated? if it happened once, it can happen again

and it's preposterous to believe a national chain is gonna have any interest in a tiny neighborhood cafe or restaurant with no parking and no drive-thru

And chains/big businesses can handle that possibility.

No more preposterous than thinking it’s going to stay empty.

Is the O site staying empty?

[BUILD PENN SQUARE]

in other words, get ready for your favorite neighborhood shopping district to become even more soulless and devoid of charm, and for that personal experience where the owner knows you and asks about your family to disappear completely

[svband76]

And there are few national chain eateries that are any good. Even the local chains are pretty bad. Worst being Eat n Park. Took my folks there last week and a couple burgers and bowl of spaghetti, couple side salads were $45 without tip. And their food is sub-par to begin with.

[Charley Barker]

Originally Posted by BUILD PENN SQUARE

you know that line in the new testament "live by the sword, die by the sword" (matthew 26:52)

the modern version should be - play by the rules, die by the rules



who in their right mind would ever borrow money to start a business and get all the necessary permits and inspections, knowing in the back of their mind the state could reinstate the existing restrictions or create new restrictions and shut it down at any time - that's why businesses that are forced to close will not be replaced

Right now the capital markets are flooded with liquidity. We were very fortunate going into this that the balance sheets of financial institutions were very sound. Also, the savings rate right now is as high as it has ever been in modern history. There are opportunities for people with good business plans and low credit risk. If Biden wins and the Democrats take the senate, the markets are betting on massive fiscal spending which will provide even more opportunity for stimulus. Regardless of the outcome of the election, the advances in vaccines and therapies will inevitably ease the restrictions.

[Merge]

Originally Posted by zalewskimm

And there are few national chain eateries that are any good. Even the local chains are pretty bad. Worst being Eat n Park. Took my folks there last week and a couple burgers and bowl of spaghetti, couple side salads were $45 without tip. And their food is sub-par to begin with.

It is a great place if you have kids.
Why did you take your folks there? Did they request it?

[erieguy]

Originally Posted by BUILD PENN SQUARE

in other words, get ready for your favorite neighborhood shopping district to become even more soulless and devoid of charm, and for that personal experience where the owner knows you and asks about your family to disappear completely

Wolf can be thanked for that.

[WhoIsStanwix?]

Originally Posted by erieguy

And chains/big businesses can handle that possibility.

No more preposterous than thinking it’s going to stay empty.

Is the O site staying empty?

The O is being re-developed by the people who own Stack'd:

https://www.post-gazette.com/life/di...s/202010070132



I agree with all of the above - lack of access to capital is a major concern for the small mom and pops. Our economy is set up the way factories are now set up - using the "just in time" inventory management system first popularized by Toyota. Same way most households are run, too. There's no rainy day fund anywhere in our economy. All of the rainy day funds are held by the purveyors of capital or other money printers.

I'm not sure what local leadership can do about that unless they're able to convince said purveyors of capital (banks, rich folk, local healthcare companies and universities) to help out struggling businesses. The best hope for the "free market" to do something about it is for the likes of Walnut Capital to decide that their continued success depends on vibrant business districts bringing in the right retailers and residential tenants to keep the money flowing in. Certainly, I don't know that local leadership can borrow much to help out businesses - they don't have assets to borrow against and are facing a massive hole in the near future, as well.

[BUILD PENN SQUARE]

Originally Posted by erieguy

Wolf can be thanked for that.

wolf AND TRUMP - the president supports all the CDC protocols with respect to masks and (doublespeak trigger warning) "social distancing" that have led to the small-business destroying restrictions

how grown adults don't understand both parties are controlled by the same banks and corporations is beyond me