AZers and the economic meltdown

TATE

AzB Gold Mensch
Silver Member
I would like this to be about pool, but it's really about us AZ members. We might bicker but we're pool fanatics and brothers and sisters.

I figure my company is potentially facing no income for the next six to seven months. My investments have taken a hit that could buy a nice house or two. We will survive because we're prepared for it, but what if we weren't?

My business associates are all getting "furloughed" which is the new word for laidoff. They're thinking a couple of months. How are you being affected? Are you apprehensive? What are you doing to help your situation?
 
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trentfromtoledo

8onthebreaktoledo
Silver Member
I would like this to be about pool, but it's really about us AZ members. We might bicker but we're pool fanatics and brothers and sisters.

I figure my company could potentially go six to seven months without new income. My investments have taken a hit that could buy a nice house or two. We will survive because we're prepared for it, but what if we weren't?

My business associates are all getting "furloughed" which is the new word for laidoff. They're thinking a couple of months. How are you being affected? Are you apprehensive? What are you doing to help your situation?

I am sorry to hear this. I hope you recover your losses. I hope you and your family stay HEALTHY. That is the most important part of all of this IMO.

I am continuing to work hard and staying focused on being positive about the future.

I have a wife and 20 month old Daughter. They mean everything to me. As long as I can pay the bills and keep them safe, I am a happy man.

We will all get through this!!!

TFT
 

TATE

AzB Gold Mensch
Silver Member
I am sorry to hear this. I hope you recover your losses. I hope you and your family stay HEALTHY. That is the most important part of all of this IMO.

I am continuing to work hard and staying focused on being positive about the future.

I have a wife and 20 month old Daughter. They mean everything to me. As long as I can pay the bills and keep them safe, I am a happy man.

We will all get through this!!!

TFT

If I had a daughter her age, there would be sleepless nights right now. The most pressure I ever felt was when I was raising my two daughters. Children are so vulnerable and I knew I couldn't screw up. That paranoia fueled me day in and day out.

I agree, we just need to hang on until we make it into the next round.
 

white1

AzB Silver Member
Silver Member
Best wishes to both of you

55 year old single male here with grown son.
Live in a rental. Got small nest egg.
Work for the school district, so pay somewhat guaranteed.
 

trentfromtoledo

8onthebreaktoledo
Silver Member
Children are so vulnerable and I knew I couldn't screw up. That paranoia fueled me day in and day out.

I agree, we just need to hang on until we make it into the next round.

I pray to GOD every night for humanity, my wife and lil Hannah!

GODSPEED to all those who are sick.

TFT
 

highkarate

AzB Silver Member
Silver Member
Crazy times! Like Trent, I have an 17-month-old daughter (I'm 33) and my wife and I just bought a house. We're in LA, so guess what it was not cheap lol. As of now I am working from home, but I'm worried that my company will lay people off if the quarantine or similar measures are extended, which I'm almost certain they will be. I think even still people are really underestimating the time-table for returning to some semblance of normal life. I hear people talking about 2 weeks of quarantine? According to the Imperial College report, which most world-wide covid19 policy is being based off, this suppression tactic can only be successful if we continue until we have a vaccine which will take minimum 1 year because it has to be observed in test subjects for that long to make sure it's not gonna kill everyone. But if we back off, we are in for some serious hurt. Good luck and best wishes to everyone out there in AZB land!
 

Cuebuddy

Mini cues
Silver Member
Tate I have four children. My wife and I have worked our butts off trying to get them to a good spot. All have gone to an Ivy league school and one is still in it. The three that have graduated all make more money a year than myself and I have had the same job since 1986. I still worry about them right. You would be hard pressed to find anyone who has not been hurt hard by this crisis. The only silver lining I can see right now is global pollution will be suppressed greatly for the next few months.
 

sixpack

AzB Silver Member
Silver Member
By the grace of god I'll be ok. Had a lot of cancellations and had to close our retail store but we got new clients to replace the ones that cancelled and now we are ok for a bit.
 

CocoboloCowboy

Cowboys are my hero's
Silver Member
Me and mine should be ok for a while. Pet Land Tourtoise has been hybernation since October, she is unaware of Corona Virus.

I do hope the two parties of people we call Congress, the Members of House of Representative, and U.S. Senate decide the welfare of the American people. The welfare of what was a strong ecomony is more important that BULL****, politics, and political games.

Then maybe far less people would have problems, and everyone in the USA would work in one direction to solve this problem. Unlike some members of Congress who apprently do not care about their constitutents, or the American people.

Wonder if these Members of Congress say behind closed door, left them bleed their all expendable, except on election day when we want their votes.
 

sjm

Older and Wiser
Silver Member
Sorry, Tate, that you find yourself in such difficult times, but this health scare in which, to use Donald Trump's accurate but disheartening terminology, we are in a war against an invisible enemy, is crippling the economy of much of the world, and is disabling business proprietors and employees alike. It is an unprecedented moment in most of our lives, though the very old may recall the polio and smallpox epidemics and how they once threatened their very existences. The proposed stimuli bills in Congress will help, but we all know they won't be enough for many to absorb the pronounced and sustained hit to their livelihoods.

I'm one of the lucky ones in a financial sense, as I've been retired since 2008 and have a lot of money, enough that what's going on has made little to no difference in my spending power. Contrastingly, in a safety sense, I'm one of the unlucky ones, because I'm a 60-something diabetic who has had heart disease and heart surgery. That means I have several of the extra-risk factors for Corona as defined by the World Health Organization.

Hence, for me, Corona might be a death sentence if I get it, so I'm scared sh****ss. Another challenge is that I live alone, and may have to do without any social contact with friends and family for a long time. On top of that, I live in a very populous part of Manhattan, New York, and the streets around me are still very crowded. It's not the best time to live in a population center, even though I only spend about an hour outside a day, most of it for my daily walk. To sum, it's not lost on me that I may die soon as the deck seems stacked against me.

All that said, I count my blessings. I can still get the food and medicine that I require. So far, I haven't contracted Corona,my family and friends have been very supportive of me by phone and by email, and I feel confident that I will be able to endure what could be months of unparalleled boredom at home as long as I can avoid getting Corona. I know I will finda way to pass the time.

There are about a dozen people in my life, not one of them family, to whom I promised long, long ago that if they ever need it, I'll assist them financially, not by lending to them, but by giving them money. A couple have already called upon me, and my best guess is that some others will soon need to take me up on it, and it is my pleasure. I think each of us that is in a position to be financially supportive of those closest to us should reach out to them.

I've never thought of myself as courageous, but the challenge of the moment is to become courageous, because danger is all around. I'll need to be very careful, too, and I trying my darndest to be just that.

As a business proprietor, Tate, you'll surely regret making the difficult decisions that will have negative consequences for your employees, but what business doesn't slim down when the business, for whatever reason, becomes less economically viable? That's how business works, but it always hurts to layoff staff members that are high performers, and times like these inevitably entail doing just that.

We all live with some very crude realities right now. We are scared, isolated, and we are less able to be supportive of all those who depend upon us. We cannot visit elderly relatives living in homes, and that's disconcerting, too. Last, and definitely least, all but those of us with a pool table at home will have to do without pool for the imaginable future, and that's not going to be easy.

Let's hope all the members of our AZB family get through these trying times. We are no longer Republicans and Democrats, no longer Liberals and Conservatives --- we are citizens of the world, and our fates are tied tightly together.
 
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SpiderWeb

iisgone@yahoo.com
Silver Member
I am a ways SOB and things are different. If they wee you on the street the chances are good that you are going to jail. There are delivery boys on bicycles that bring 1/2 roasted chicken and a doughy biscuit and a little steamed tator. You need 1 roll of TP with every meal. May be the safest place to be right now.
Good luck to everyone.
 

TATE

AzB Gold Mensch
Silver Member
Sorry, Tate, that you find yourself in such difficult times, but this health scare in which, to use Donald Trump's accurate but disheartening terminology, we are in a war against an invisible enemy, is crippling the economy of much of the world, and is disabling business proprietors and employees alike. It is an unprecedented moment in most of our lives, though the very old may recall the polio and smallpox epidemics and how they once threatened their very existences. The proposed stimuli bills in Congress will help, be we all know they won't be enough for many to absorb the pronounced and sustained hit to their livelihoods.

I'm one of the lucky ones in a financial sense, as I've been retired since 2008 and have a lot of money, enough that what's going on has made little to no difference in my spending power. Contrastingly, in a safety sense, I'm one of the unlucky ones, because I'm a 60-something diabetic who has had heart disease and heart surgery. That means I have several of the extra-risk factors for Corona as defined by the World Health Organization.

Hence, for me, Corona might be a death sentence if I get it, so I'm scared sh****ss. Another challenge is that I live alone, and may have to do without any social contact with friends and family for a long time. On top of that, I live in a very populous part of Manhattan, New York, and the streets around me are still very crowded. It's not the best time to live in a population center, even though I only spend about an hour outside a day, most of it for my daily walk. To sum, it's not lost on me that I may die soon as the deck seems stacked against me.

All that said, I count my blessings. I can still get the food and medicine that I require. So far, I haven't contracted Corona, my family and friends have been very supportive of me by phone and by email, and I feel confident that I will be able to endure what could be months of unparalleled boredom at home as long as I can avoid getting Corona. I know I will find a way to pass the time.

There are about a dozen people in my life, not one of them family, to whom I promised long, long ago that if they ever need it, I'll assist them financially, not by lending to them, but by giving them money. A couple have already called upon me, and my best guess is that some others will soon need to take me up on it, and it is my pleasure. I think each of us that is in a position to be financially supportive of those closest to us should reach out to them.

I've never thought of myself as courageous, but the challenge of the moment is to become courageous, because danger is all around. I'll need to be very careful, too, and I trying my darndest to be just that.

As a business proprietor, Tate, you'll surely regret making the difficult decisions that will have negative consequences for your employees, but what business doesn't slim down when the business, for whatever reason, becomes less economically viable? That's how business works, but it always hurts to layoff staff members that are high performers, and times like these inevitably entail doing just that.

We all live with some very crude realities right now. We are scared, isolated, and we are less able to be supportive of all those who depend upon us. We cannot visit elderly relatives living in homes, and that's disconcerting, too. Last, and definitely least, all but those of us with a pool table at home will have to do without pool for the imaginable future, and that's not going to be easy.

Let's hope all the members of our AZB family get through these trying times. We are no longer Republicans and Democrats, no longer Liberals and Conservatives --- we are citizens of the world, and our fates are tied tightly together.


Being in the travel and meeting business for 40+ years, I've been though a lot. I long ago prepared a war chest where we could go for an extended period of time without income. 911 and other terror events, airlines strikes and groundings, even the Los Angeles riots, Zika virus, SARS, all lead to a mentality of saving where I could for a rainy day. I have managed to dodge some real landmines and had decided to retire in a few years. This is, by far, the most overwhelming disaster to the travel industry I've experienced. It's worse than the 2008/2009 Great Recession and 911 put together.

We went to home virtual offices six years ago and we streamlined. We can go for an extended time, years, with no income. Like you, I have enough cash to not worry about what I spend but I considered the 40% of Americans who say they couldn't afford an unexpected $400 expense.

https://www.cnbc.com/2019/07/20/heres-why-so-many-americans-cant-handle-a-400-unexpected-expense.html

We don't have a lot of employees, but I'm not laying any off. We could save some money but I don't have to do it, so I'm not going to. I'm going to focus on collecting receivables these next few months and picking up some oversold stocks, work on future business, golf more and clean out the drawers.

Stu, have you thought about renting a flat or cottage in the countryside until this blows over? There are too many people living too close in New York, I can't imagine. You have New Hampshire, Vermont, Maine - I would head up there.
 
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PoolFan101

AzB Silver Member
Silver Member
My Wife just got Laid off from her Job Friday , In Ky we have been put on a Non Essential business closing until further notice. Jefferson Co seems to be getting hit pretty hard with it being a major city and the streets now look like a Ghost town. There is 2 cases , or so we have been told , in our town but as far as we know that is it. I found out in July of last year that I had Colon Cancer at 42 Yrs old and had to have part of my Colon Removed to the Cancer and then 6 months of Chemo. So My immune system is not up to par and it Worries me that I could get this or anybody in my Family for that Matter. They have me off work until May and with my Wife being laid off and with 4 kids things are going to get somewhat harder than they already are. I was hoping they would pass that stimulus bill so we would have a few dollars to get a few bills paid ahead, But that is looking dim. Life can be interesting sometimes , But I believe in Jesus and the Good Lord will take care of us and Bless us and Protect us from this so we will do what we have to until it is over. May the Lord Bless us all ! Amen
 

TATE

AzB Gold Mensch
Silver Member
My Wife just got Laid off from her Job Friday , In Ky we have been put on a Non Essential business closing until further notice. Jefferson Co seems to be getting hit pretty hard with it being a major city and the streets now look like a Ghost town. There is 2 cases , or so we have been told , in our town but as far as we know that is it. I found out in July of last year that I had Colon Cancer at 42 Yrs old and had to have part of my Colon Removed to the Cancer and then 6 months of Chemo. So My immune system is not up to par and it Worries me that I could get this or anybody in my Family for that Matter. They have me off work until May and with my Wife being laid off and with 4 kids things are going to get somewhat harder than they already are. I was hoping they would pass that stimulus bill so we would have a few dollars to get a few bills paid ahead, But that is looking dim. Life can be interesting sometimes , But I believe in Jesus and the Good Lord will take care of us and Bless us and Protect us from this so we will do what we have to until it is over. May the Lord Bless us all ! Amen

I wish you the best. You've been dealt a tough hand. I admire your courage but I'm beginning to regret starting this thread. I pray you'll get the help you need, hang in there, things can turn around on a dime.
 

sjm

Older and Wiser
Silver Member
Stu, have you thought about renting a flat or cottage in the countryside until this blows over? There are too many people living too close in New York, I can't imagine. You have New Hampshire, Vermont, Maine - I would head up there.

Yes, I've toyed with the idea but right now, I live within 100 yards of Mount Sinai Hospital, in which my endocrinologist, cardiologist, nephrologist, and gastroenterologist maintain their offices. As each has dealt with me for years and have attended to me well, being able to walk over there in about one minute is a great advantage to me.

Unfortunately, I have many health issues to juggle, and moving away and living alone and remotely would increase my health risk in some respects. In addition, I live in a luxury building and the service levels remain high if I need any kind of medical assistance or support. I think I'll just have to tolerate twenty three hours a day in my apartment, as profoundly boring as that sounds as a long-term measure.

On the brighter side, both my supermarket and Whole Foods (both within 300 feet of where I live) just instituted hours in which only people 60 and over can shop, so this helps me limit my exposure to others when I shop as these stores are both fairly empty in those hours, which precede their opening to the general public.

However I play this, I'm at risk.
 

TATE

AzB Gold Mensch
Silver Member
Yes, I've toyed with the idea but right now, I live within 100 yards of Mount Sinai Hospital, in which my endocrinologist, cardiologist, nephrologist, and gastroenterologist maintain their offices. As each has dealt with me for years and have attended to me well, being able to walk over there in about one minute is a great advantage to me.

Unfortunately, I have many health issues to juggle, and moving away and living alone and remotely would increase my health risk in some respects. In addition, I live in a luxury building and the service levels remain high if I need any kind of medical assistance or support. I think I'll just have to tolerate twenty three hours a day in my apartment, as profoundly boring as that sounds as a long-term measure.

On the brighter side, both my supermarket and Whole Foods (both within 300 feet of where I live) just instituted hours in which only people 60 and over can shop, so this helps me limit my exposure to others when I shop as these stores are both fairly empty in those hours, which precede their opening to the general public.

However I play this, I'm at risk.

Stu, I wish you well. I'm am sure you're better off staying with your doctors, it sounds like the interactions between them, your medication and issues would be really complicated.

Our stores are finally starting to look normal again. I went to the local Vons (run by Albertson's/Safeway) tonight and they had everything except paper towels, hand sanitizer and toilet paper. It was not at all crowded and they extended their hours back to 9 p.m. (it had been 8 p.m.). A week ago it looked like it had been looted (I was disgusted by my fellow citizens).

Stu, I'm pretty sure you're going to be OK. You're taking all the right precautions. You've got this.
 

TATE

AzB Gold Mensch
Silver Member
I'm also thinking coronavirus is going to take out it's share of the billiards industry. Thinking about it, there is a lot of risk of that, I'm afraid.
 

Snooker Theory

AzB Silver Member
Silver Member
I'v been hemorrhaging cash, investments down, missed a nice window on selling some real estate, business hurting and cashflow.

My local university offers online classes so signed up for a few, I figure would help pass the time, starts in a couple of days. Probably do some fishing if I can avoid the crowds.
 

HawaiianEye

AzB Silver Member
Silver Member
I own five acres of prime forest in Idaho. Nothing but trees everywhere.

I'm thinking the value may go up after this is all over.

Maybe people will want to get out of the big cities and have a place to get away.

Perfect place to build a cabin or a bunker. :)

I get contacted several times a year by people wanting to buy my trees, but I have never sold any.

Maybe I can have some chopped down and processed into toilet paper and make a killing. :)
 

Cashman

AzB Silver Member
Silver Member
For me, its all dependent how long I’m down for. I own a business that transports special needs and disabled people. About 50% of the business is doing school kids. The other is a mix of group homes and day programs, and some physiotherapy clients. I’m totally shut down right now. The current school year has been suspended, so minimum 5 months. My other large contract is off until at least April 6th, I imagine it will be much longer though.

I have 6 employees, couple have been with me from the start. I’ll be laying them off shortly. It kinda kills me. I’ve always tried to be a good employer, but we don’t have the cash reserves to meet payroll with 0 revenue for an extended period. I’ll throw them a cash bonus, and tell myself I did my best. I’ve tried to build a war chest, but I’ve never got the business successful enough to do it. It feels like been scrambling for 10 years.

My wife is on maternity leave making 55%, I’m not eligible for any unemployment. It’s a bit stressful with an 8 week old. Thankfully, we’ve always lived very frugally. We drive old cars, live in a condo that’s too small...but paid for. We’re in better shape then most. Our savings will last for a good while.

I have a small online business selling hobby items. Most my energy is going too that now. It brings in enough to pay most the bills. But my real business, honestly I think it’s cooked. I’m preparing myself mentally for it anyways.

Most important thing for me is keeping my family healthy. I do grocery runs and errands for my Dad and in-laws. And check in on my brother who’s disabled. And try too spend as much time holding my son as I can. Mostly, I just try not to let my wife see how stressed and depressed I am.

Sorry for venting. I sit around all day thinking and worrying. Stay safe, and good luck everyone.
 
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