i expect pool to take a huge dive
pool was hurting before and will be worse for the near future
the government spending will destroy the dollar and possibly the country
when has even 1 government program worked ?
they went to viet nam and can not explain why to this day
they destroyed education
the prisons do no rehabilitate
for every 3dollars collected for social security one dollar has been paid out in benefits and the program is bankrupt
now they think spending money they don't have will cure things
That being said, landlords aren't excited to lose a bunch of tenants either. They've got mortgages and property taxes to worry about too. Not having a paying tenant is bad news. Plus, if you manage to evict a tenant right now, who are you going to fill the spot with?
This was also said in 2009 after we bailed out the banks and were considering big stimulation.
I think WW2, the interstate highway system, Social Security, Medicare, Income Taxes,...
To test out our 1955-1965 military advancements.
The teacher unions and NEA did not help
This fall squarely on the backs of republicans.
But, to be fair, the rehabilitation in the 1970-1980s did not work so well, either.
This is a congressional problem, for 50 years, congress raided SS funds to pay for other government "stuff". They knew all along that they would end up where we are today (lacking Corona virus situation.)
The alternative is 70% of all (A L L) businesses close and 70%-85% unemployment.
Any business without 6-months of cash flow in a safe deposit box earning zero interest fill fail under the current situation. Approximately no business is in that situation.
We are faced with a situation where::
1) if we send people back to work to prevent a recession/depression, 1%-3% of the world population will simply die (D I E). {This may be a dramatic underestimation}
2) If we let the economic situation (idle factories, shelter at home) persist without doing anything, the Great Depression will look like a minor hick up in world GDP.
3) On the other hand, if we mortgage our future, we might be back on a level keel in a decade.
So, you get to pick door #1, door #2, or door #3.
Why does a 20 year old pool hall not (N O T) own its own building ?
I've gotta believe it will.
It's survival of the fittest. If you sit around waiting to get destroyed, you will be.
If the owner has resources, they will survive. Here's what I would do:
I would make sure I have enough credit to get me though to better times.
I would tell the landlord I'm on rent holiday until reopening. Period.
I would use this time to make repairs, remodel, updates, rethink my game plan, rework my menu's and business plan.
I would buy a couple of ball washer's and sanitize the tables and equipment when reopened and I would advertise that fact.
I would contact the SBA and see what loans and grants might be available.
I would pay very careful attention to the fiscal reliefs being provided small businesses though the government packages.
its the slumlords type property owners who wont give them a chance during this time, they have no interst in covid19 or what it does to business and money, and they rather have it closed than let someone not pay even when closed by government rules. I knew this woman in manhattan, she kept an apartment closed in the upper east side for 3 years than give it less than 15K a month in rent. so she forwent couple hundred K in rent money income. who knows how they think. lets hope its not terrible
Now that we are aware, what will we be?
The long term concern I have is this question:
Will we ever be the same again?
Will we shake hands, stand close when we talk, touch things without washing our hands? Hug? Kiss? Play pool? Touch screens?
Unfortunately, pool falls into the category of germy activities. We touch the cloth that hundreds of others have touched, the racks, and balls. We talk with friends in bars.
There will be those of us who will be more cautious than ever. Who wants even a simple, annoying common cold? Strep or the flu? Pink eye? Or the occasional Covid 19 that will still pop up long into the future.
Now that we are aware, what will we be?
The long term concern I have is this question:
Will we ever be the same again?
Will we shake hands, stand close when we talk, touch things without washing our hands? Hug? Kiss? Play pool? Touch screens?
Unfortunately, pool falls into the category of germy activities. We touch the cloth that hundreds of others have touched, the racks, and balls. We talk with friends in bars.
There will be those of us who will be more cautious than ever. Who wants even a simple, annoying common cold? Strep or the flu? Pink eye? Or the occasional Covid 19 that will still pop up long into the future.
Now that we are aware, what will we be?
Those with a shaky busi ess model trying to run it like its 1968 will likely die but if they were a solid business with food, bar and marketing they should come back just like any other sound entertainment venue.
Sent from the future.
I will never understand these owners way of thinking. They would rather have the place sit empty then to make the rent affordable for a small business. My home pool hall sat empty for years after it closed down back in around the year 2000, because the landlord kept increasing the rent every year, until the pool hall eventually ran out of business.
In the end, he could not afford the $2,000 per month rent, for the pool hall.