The curve is huge, I'm getting a little scared. How are you holding up?

[chloevankatie]

That's great news for them, but how do you feel about grown men who play with train sets?

Or would that be getting off topic?

He he...I said getting off.

As along as they are planning on running those trains on me...

[Ben Rhimene]

As along as they are planning on running those trains on me...

I think I can, I think I can, I think I can...

[Ben Rhimene]

Back to the economic impact...

While picking up my lunch I listened to a local restaurant/food scene podcast. Man, was that ever gloomy!

Guest restauranteur shared that his business is running at 4.5% of normal. He has resorted to selling food stores as is so it stays fresh and cash flows-just sold 50 pound box of potatoes to some guy. He sounded nervous but determined. His expectation is that about 70% of local restaurants will shutter for good...they do not have resources to hold out. Which leaves national chains and some of the local multi-store operations (many of which are consolidating their operations into 1 or 2 stores to keep variable costs down). He was convinced the food scene will get wiped out if things do not change in 2-4 weeks. He also noted they had 24 hours to close seating areas but it will take longer to ramp back up. Many of staff are going to places that are hiring, such as HEB or Walmart. Expect delays as restaurants re-staff, train, etc.

Fun Fact: food delivery apps have cut out delivery charge to customer, but still charging restaurant 30% of ticket. While we are still allowed to go out to get food perhaps get pick up or restaurant delivery instead of DoorDash, etc. If you are comfortable go in person, tip, show the appreciation and save your faves.

Fun Fact 2: couple in front of me ordered their food and pointed at the benches outside and asked if they could eat there. They were informed that if the City caught them the restaurant gets fined $500,000.00. That was news to me...that is one way to ensure compliance.

Please remember, if things are this dire to places allowed to run minimal operations, imagine what it is doing to those that cannot open, like dry cleaners and other service industries.

[Vanessa]

Don't believe the hype. The fine isn't $500,000 - The fine is $1000. https://www.click2houston.com/news/l...al-distancing/

And if the bench isn't on their property, they can't be held accountable.

The CARES Act has some impressive benefits for small business owners. They need to go to their local banker and start the process now for SBA loans.

Another helpful hint about supporting restaurants is to order to-go liquor drinks - higher profit margin.

[Ben Rhimene]

Don't believe the hype. The fine isn't $500,000 - The fine is $1000. https://www.click2houston.com/news/l...al-distancing/

And if the bench isn't on their property, they can't be held accountable.

The CARES Act has some impressive benefits for small business owners. They need to go to their local banker and start the process now for SBA loans.

Another helpful hint about supporting restaurants is to order to-go liquor drinks - higher profit margin.

Thanks Vanessa. Agree the misinformation is a big part of the problem.

I was just relaying what I'd heard. Seemed too much to me as well, so I did some googling:

https://abc13.com/society/all-harris...-down/6018886/

THAT article suggests a $2000 fine. Either way, it's obvious the manager of the lunch joint made up a huge number so the millenials would move along.

I like your point about going to see a banker for solutions. The restauranteur on the podcast was asked about getting relief from his landlord, etc. His response was he didn't want any additional indebtedness. While I admired his pluck, part of me just shook my head at his financial ignorance, and unwillingness to at least explore options.

I am afraid that might be fairly typical in the smaller operations.

[Tx33_averageJoe]

According to the Whitehouse task force update this evening they will recommend keeping Federal guidelines for COVID-19 in place until April 30th. Up to the states to determine shelter orders ect but most were based on those recommendations.

[Ben Rhimene]

According to the Whitehouse task force update this evening they will recommend keeping Federal guidelines for COVID-19 in place until April 30th. Up to the states to determine shelter orders ect but most were based on those recommendations.

Fed guideline I saw on one of the local news sites indicated elder and at risk shelter, everyone work remotely, and avoid crowded places like bars and restaurants. Without having taken time to find and actually read it to confirm language, seems like most local orders taking it a step or 2 further.

Having said that, I also saw that Dr. Fauci indicated the USA will certainly have 100,000 deaths and potentially 200,000.

[Vanessa]

Thanks Vanessa. Agree the misinformation is a big part of the problem.

I was just relaying what I'd heard. Seemed too much to me as well, so I did some googling:

https://abc13.com/society/all-harris...-down/6018886/

THAT article suggests a $2000 fine. Either way, it's obvious the manager of the lunch joint made up a huge number so the millenials would move along.

I like your point about going to see a banker for solutions. The restauranteur on the podcast was asked about getting relief from his landlord, etc. His response was he didn't want any additional indebtedness. While I admired his pluck, part of me just shook my head at his financial ignorance, and unwillingness to at least explore options.

I am afraid that might be fairly typical in the smaller operations.

The SBA loans are 100% forgivable if they comply with the necessary requirements regarding retaining employees, etc.