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NON_POLITICAL China Coronavirus THREAD

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Nov 8, 2012
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https://la.eater.com/2020/3/25/21194144/cheesecake-factory-rent-strike-chain-restaurant

Cheesecake Factory restaurant tells landlords it won't pay rent on April 1st. Cheesecake Factory is big chain restaurant. How many little mom and pop restaurants and shops are in the same position or worse? What happened with people losing their homes after 2008 housing collapse is going to happen with commercial real estate this time. Shopping centers and building owners are going to go bust and not be able to pay their big commercial mortgage loans. If you have some money, there's going to be great opportunities to pickup some buildings or properties for the cheap in the future. And for people wanting to start a restaurant, you're going to have the opportunity of a lifetime to lease spaces super cheap with very favorable terms and buy used restaurant equipments at fraction of the price. So if you ever dreamed of starting your own restaurant, get your stuff together and get ready.
There is some validity to it, no?

You rented the place on the prospect of utilizing it for customers. If t he government says "NENER NENER NENER! No customers for you!" then why should you pay rent for it?

It isn't a matter of an uncontrolled disaster like a hurricane, wildfire, etc... It is the deliberate government telling you that you can't do precisely what you were designed to do.

It's not like they can swap them into a 4 bedroom apartment building tomorrow....
 

Dari

Lifer
Oct 25, 2002
17,134
37
91
what are you suggesting
Oh look everyone, it's Manahan. You're rolling around this thread, squatting and defecating wherever you please with no thought of the consequences. Being cute and dredging up past posts of mine. None of that was necessary or relevant to the topic at hand. Besides, I'm a new and improved man. A father. That was the past. What you did was wrong and deserves censure from the moderators here.
 

ponyo

Lifer
Feb 14, 2002
18,954
2,283
126
Yeah, I've got both clients & friends in the restaurant business, and they are really hurting. Margins are almost always super tight no matter how well you do as an individual restaurant or small chain. They are falling one by one in my area. Some of them hope to get back up & running once the virus blows over (hopefully soon, not 18 months from now), but I suspect a lot of them will be shut down for good :(
It's not just restaurants. Many big retailers were on life support after getting killed by Amazon over the years and people not shopping at malls. This virus might be the final deathblow for lot of those shaky retailers who were barely clinging and hanging on. And you now add all the small mom & pop shops who were doing semi-decent and making ok living who are now facing retail apocalypse. From what I've seen from South Korea, people still are not shopping. I don't know what's exactly in the US stimulus bill but I know the airlines are getting a bailout. Retail America will need a big bailout too or lot of them are going under.
 

nakedfrog

No Lifer
Apr 3, 2001
51,174
3,756
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My local Facebook feed is full of business closing up shop for good. The latest one was also a chain...
Interesting. On Saturday evening I called a local restaurant to make a carryout order, and it was over ten minutes before I could get through. My kids both currently work at restaurants, and they seem to be doing pretty brisk business here. I drove by a Culver's on Tuesday and the drive-through line was on the verge of spilling out of the parking lot. Maybe it's because we have a lower number of infections here, IDK, but I've been surprised to hear how much business places have been getting.
We're also by-and-large a bunch of fatties, so there's also that (#15 out of 50, not top ten, but still up there!)
 
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nakedfrog

No Lifer
Apr 3, 2001
51,174
3,756
126
Oh look everyone, it's Manahan. You're rolling around this thread, squatting and defecating wherever you please with no thought of the consequences. Being cute and dredging up past posts of mine. None of that was necessary or relevant to the topic at hand. Besides, I'm a new and improved man. A father. That was the past. What you did was wrong and deserves censure from the moderators here.
The long-past day of 45 minutes ago? o_O
 

CZroe

Lifer
Jun 24, 2001
24,190
845
126
The long-past day of 45 minutes ago? o_O
He's talking about a post way back where Brian reminded people of some of Dari's pasts posts, like the one where he seemed to be plotting infanticide against a child against the mother's wishes.

I, for one, never forgot.
 
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ponyo

Lifer
Feb 14, 2002
18,954
2,283
126
There is some validity to it, no?

You rented the place on the prospect of utilizing it for customers. If t he government says "NENER NENER NENER! No customers for you!" then why should you pay rent for it?

It isn't a matter of an uncontrolled disaster like a hurricane, wildfire, etc... It is the deliberate government telling you that you can't do precisely what you were designed to do.

It's not like they can swap them into a 4 bedroom apartment building tomorrow....
I just thought it was interesting that instead of asking for rent concessions, Cheesecake Factory basically told Simon Property Group and others that they're not flat out paying rent. They gave a notice instead of asking permission. Usually this kind of stuff happens behind the scene rather than in public where they come to some kind of agreement.
 

IronWing

No Lifer
Jul 20, 2001
61,854
14,986
136
Oh look everyone, it's Manahan. You're rolling around this thread, squatting and defecating wherever you please with no thought of the consequences. Being cute and dredging up past posts of mine. None of that was necessary or relevant to the topic at hand. Besides, I'm a new and improved man. A father. That was the past. What you did was wrong and deserves censure from the moderators here.
So what were you suggesting? So far all we've heard from you is a racist rant that would make Stephen Miller blush.
 
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brianmanahan

Lifer
Sep 2, 2006
21,190
3,029
126
Oh look everyone, it's Manahan. You're rolling around this thread, squatting and defecating wherever you please with no thought of the consequences. Being cute and dredging up past posts of mine. None of that was necessary or relevant to the topic at hand. Besides, I'm a new and improved man. A father. That was the past. What you did was wrong and deserves censure from the moderators here.
 
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CZroe

Lifer
Jun 24, 2001
24,190
845
126
Well, we haven't gotten that Italy update yet but the USA is momentarily listed with more cases:



OK, looks like the live update video conference for Italy just started. Surely they will be announcing many more cases but it won't make a difference. By tomorrow the USA will be solidly in the lead with the most cases and Italy, USA, and China will all be over 80,000 cases. Since China's new cases (or at least the reporting) have stalled, the USA will pass China's confirmed cases today or tomorrow... which means USA will have the most confirmed cases worldwide. :(
 
Nov 8, 2012
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People are starting to report on Facebook locally that places like Costco and the local grocery stores are starting to have TP, paper towels, and water bottles on a steady basis.

Starting to look like the hoarders have their cache and supply chain is finally caught up.
 

thestrangebrew1

Diamond Member
Dec 7, 2011
3,186
249
106
People are starting to report on Facebook locally that places like Costco and the local grocery stores are starting to have TP, paper towels, and water bottles on a steady basis.

Starting to look like the hoarders have their cache and supply chain is finally caught up.

Just got back from our local grocery store and their bread and canned food aisles are empty. Also, found the last 2 bottles of antibacterial hand soap so I scooped those up. When I was going in, a couple was coming out with 4-5 packages of tp, not the warehouse size package, but maybe 6 or 9 rolls size.
 

Ichinisan

Lifer
Oct 9, 2002
28,298
1,228
136
Interesting. On Saturday evening I called a local restaurant to make a carryout order, and it was over ten minutes before I could get through. My kids both currently work at restaurants, and they seem to be doing pretty brisk business here. I drove by a Culver's on Tuesday and the drive-through line was on the verge of spilling out of the parking lot. Maybe it's because we have a lower number of infections here, IDK, but I've been surprised to hear how much business places have been getting.
We're also by-and-large a bunch of fatties, so there's also that (#15 out of 50, not top ten, but still up there!)
Seeing an overloaded drive through is misleading. The dining room is off-limits and more people are using the drive-thru. The restaurants are getting far less business overall.

It's the same with the phone lines being overwhelmed because they have to do more curbside orders while dine-in is restricted. Still far less business overall.
 

nakedfrog

No Lifer
Apr 3, 2001
51,174
3,756
126
Seeing an overloaded drive through is misleading. The dining room is off-limits and more people are using the drive-thru. The restaurants are getting far less business overall.
Well, duh, you can only do take-out, delivery, or drive-through here. Normally I see at most one or two cars in that drive through. And again, my kids have direct experience with the amount of business the restaurants they're working in are doing ¯\_(ツ)_/¯

Edit: To be clear, I'm not saying everything is sunshine and roses, as I literally said I was surprised how much business they were still doing here, and contrasting it with the wing place that closed. Wings are messy AF though :D
 
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ponyo

Lifer
Feb 14, 2002
18,954
2,283
126
People are starting to report on Facebook locally that places like Costco and the local grocery stores are starting to have TP, paper towels, and water bottles on a steady basis.

Starting to look like the hoarders have their cache and supply chain is finally caught up.
Water bottle shortage only lasted like a week and now there are oversupply almost everywhere. My local Costco has so much bottle waters they probably won't have to order for 6 months or more. The only thing that's in short supply is TP. And masks and hand sanitizers are virtually impossible to find and will likely remain so until this is all over.

I'm not worried about food and house essential supply. Now I'm more worried about things like prescription medicine. India just went into 21 days lockdown. They produce lot of the world's generic drugs. One of the prescription drugs my mom takes is out of stock right now. Hopefully, restock will be available before she runs out. Or else I'm going to have to start calling around and hunting.
 

PlanetJosh

Golden Member
May 6, 2013
1,549
66
91
Trying to find out on the net if experts think corporate earnings will be ok or lose very little after the stimulus money gets distributed. For the 2nd Quarter. Looks like the money won't get sent out until after the end of March. And assuming the virus is gone in July.
 

Artorias

Golden Member
Feb 8, 2014
1,434
589
136
Those Chinese numbers are such bullshit. Not a chance they only have 80,000, they simply stopped reporting, its got to be in the hundreds of thousands.
 

CZroe

Lifer
Jun 24, 2001
24,190
845
126
Ugh. One of my managers keeps licking his fingers as he thumbs through paperwork.

*cringe*

Those Chinese numbers are such bullshit. Not a chance they only have 80,000, they simply stopped reporting, its got to be in the hundreds of thousands.
Agreed, especially seeing as the USA is about to pass them in confirmed cases.

They aren't going to come clean about it though. They'll just report all those deaths later and attribute them to "backflow" from the rest of the world so that their people go on believing they beat it and had it under control and that the rest of the world is to blame.
 

CZroe

Lifer
Jun 24, 2001
24,190
845
126
Wow. Luxembourg has about twice the number of confirmed cases per capita of any other country. Probably because their smaller population is easier to do more complete testing. In reality, we're all Luxembourg right now. :(
 
Mar 11, 2004
21,151
3,325
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Water bottle shortage only lasted like a week and now there are oversupply almost everywhere. My local Costco has so much bottle waters they probably won't have to order for 6 months or more. The only thing that's in short supply is TP. And masks and hand sanitizers are virtually impossible to find and will likely remain so until this is all over.

I'm not worried about food and house essential supply. Now I'm more worried about things like prescription medicine. India just went into 21 days lockdown. They produce lot of the world's generic drugs. One of the prescription drugs my mom takes is out of stock right now. Hopefully, restock will be available before she runs out. Or else I'm going to have to start calling around and hunting.
Some of that hopefully might be due to people getting 90 day supplies of medicines, as I know that was something that some were doing so that people wouldn't have to come into the doctor to get scripts, or go to pharmacy to get refills.
 

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