Coronavirus Recession

[morekaos]

That's what is driving Retail Sales up 17.7%...

U.S. May retail sales surge 17.7% in the biggest monthly jump ever

https://www.cnbc.com/2020/06/16/us-retail-sales-may-2020.html?&qsearchterm=retail%20sales%20up

 

[daedalus]

Ikea seems positioned to benefit from COVID with so many people spending more time at home.  Just like sales of RVs and computer equipment went gangbusters. 

Everyone's doing well except the ones who aren't. 

 

[usctrojancpa]

Went to Ikea, 10:30 AM on a weekday and parking lot looks like a prepandemic Saturday.  The part between the parking lot road and building is full, the other part between the that road and freeway is alreaxy half full.  Whole families walking in.

I've never seen so many people at various retail stores during the middle of the day during the week as I have in the past month, including before the virus hit.

 

[Happiness]

Went to Ikea, 10:30 AM on a weekday and parking lot looks like a prepandemic Saturday.  The part between the parking lot road and building is full, the other part between the that road and freeway is alreaxy half full.  Whole families walking in.

I've never seen so many people at various retail stores during the middle of the day during the week as I have in the past month, including before the virus hit.

.

People are now making more money not working than working so of course they need something to do with all that free time and free money.

 

[paydawg]

Went to Ikea, 10:30 AM on a weekday and parking lot looks like a prepandemic Saturday.  The part between the parking lot road and building is full, the other part between the that road and freeway is alreaxy half full.  Whole families walking in.

I've never seen so many people at various retail stores during the middle of the day during the week as I have in the past month, including before the virus hit.

.

People are now making more money not working than working so of course they need something to do with all that free time and free money.

Or people are spending all their unused vacation budget on retail.  In our house, we've been buying a bunch of unnecessary gadgets. 

 

[eyephone]

Chuck E. Cheese parent, GNC file for bankruptcy
https://therealdeal.com/2020/06/25/chuck-e-cheese-parent-gnc-file-for-bankruptcy/

 

[eyephone]

Senate GOP, White House propose cutting $600 unemployment checks to $200 in coronavirus relief plan
https://abcnews.go.com/Politics/sen...d-unveil-coronavirus-relief/story?id=72000865

 

[irvinebullhousing]

Senate GOP, White House propose cutting $600 unemployment checks to $200 in coronavirus relief plan
https://abcnews.go.com/Politics/sen...d-unveil-coronavirus-relief/story?id=72000865

I vote for zero payments.

 

[eyephone]

Marketwatch: California Pizza Kitchen files for bankruptcy, plans exit in less than 3 months

California Pizza Kitchen said Thursday that it has filed for bankruptcy, as the restaurant chain looks to close unprofitable locations and reduce its long-term debt load, and emerge from bankruptcy in under three months. The company said it has entered into a restructuring support agreement with lenders to equitize the vast majority of its long-term debt. The agreement includes contemplating $46.8 million in debtor-in-possession financing, which will allow the company's restaurants to continue operating, and for the continued payments to vendors and employees.
https://www.marketwatch.com/story/c...y-plans-exit-in-less-than-3-months-2020-07-30

 

[irvinebullhousing]

Tailored Brands, the owner of Men?s Wearhouse & Jos. A. Bank, is preparing a bankruptcy filing that would shutter 400 to 500 stores

 

[irvinehomeowner]

Not sure where to put this as there are many coronavirus threads but many south OC restaurants are still doing outdoor dining.

As long as they are observing safe protocols, it?s hard for me to blame them.

 

[aquabliss]

Not sure where to put this as there are many coronavirus threads but many south OC restaurants are still doing outdoor dining.

As long as they are observing safe protocols, it?s hard for me to blame them.

Can you name a few?  I?d like to go support.

 

[eyephone]

I don?t think I ever blamed out door dining. (with the info we know of)
I think cities should make it really easy for restaurants that apply to have outdoor dining.

 

[qwerty]

My wife got her haircut in Newport yesterday. Blacked out windows and front door is locked but still in business - following mask protocols, just giving appearance that they closed

 

[irvinehomeowner]

Bell Tower was doing haircuts outside with masks a month or so ago.

They should allow them to do that again, instead of totally closing them down again.

Edit: Clarification.

 

[irvinehomeowner]

Not sure where to put this as there are many coronavirus threads but many south OC restaurants are still doing outdoor dining.

As long as they are observing safe protocols, it?s hard for me to blame them.

Can you name a few?  I?d like to go support.

Don?t want to call them out here just in case the man is watching but you will find many are still open. I was surprised as we went there to order takeout and there were people eating in their outdoor setup in the parking lot. They told me that others were still doing it pointing across the lot to a chain breakfast place so what could I say.

This was last night and usually their outdoor dining is busy but there were only 3 or 4 tables occupied. That?s safer but I still feel for them because business is still reduced.

I?m going to check some Irvine places today.

OC Sheriff Don Barnes like many other sheriffs will not be enforcing restrictions:
https://www.nationalreview.com/news...nt-enforce-new-california-stay-at-home-order/

Not sure if county health department will.

 

[usctrojancpa]

Not sure where to put this as there are many coronavirus threads but many south OC restaurants are still doing outdoor dining.

As long as they are observing safe protocols, it?s hard for me to blame them.

Can you name a few?  I?d like to go support.

Don?t want to call them out here just in case the man is watching but you will find many are still open. I was surprised as we went there to order takeout and there were people eating in their outdoor setup in the parking lot. They told me that others were still doing it pointing across the lot to a chain breakfast place so what could I say.

This was last night and usually their outdoor dining is busy but there were only 3 or 4 tables occupied. That?s safer but I still feel for them because business is still reduced.

I?m going to check some Irvine places today.

OC Sheriff Don Barnes like many other sheriffs will not be enforcing restrictions:
https://www.nationalreview.com/news...nt-enforce-new-california-stay-at-home-order/

Not sure if county health department will.

PM Aqua and I some of the restaurant names as I'd also like to support small local restaurant businesses. 

 

[eyephone]

Some people say even before the pandemic some business were not going to make it.
Unbelievable high rent for retail space combined with long term rent.

 

[irvinehomeowner]

PM Aqua and I some of the restaurant names as I'd also like to support small local restaurant businesses. 

PM sent. I hope Aqua doesn't work for the health department.

 

[eyephone]

Ktla news: Republicans block bid for $2,000 virus checks despite Trump?s demand

House Republicans shot down a Democratic bid on Thursday to pass President Donald Trump?s longshot, end-of-session demand for $2,000 direct payments to most Americans as he ponders whether to sign a long-overdue COVID-19 relief bill.

The made-for-TV clash came as the Democratic-controlled chamber convened for a pro forma session that had been scheduled in anticipation of Trump signing the massive, year-end legislative package, which folds together a $1.4 trillion governmentwide spending with the hard-fought COVID-19 package and dozens of unrelated but bipartisan bills.

Instead, Thursday?s 12-minute House session morphed into unconvincing theater in response to Trump?s veto musings about the package, which was negotiated by Treasury Secretary Steven Mnuchin on Trump?s behalf. House Majority Leader Steny Hoyer, the No. 2 House Democrat, sought the unanimous approval of all House members to pass the bigger checks, but GOP leader Kevin McCarthy, who was not present in the nearly-empty chamber, denied approval.

If Trump were to follow through on his implied veto threat, delivered via video clip on Tuesday, the government would likely experience a brief, partial shutdown of the government starting on Dec. 29. It would also delay delivery of the $600 direct payments that the bill does contain and other help for the unemployed and people facing eviction.

The push for bigger payments has created rare common cause between Trump and some of the most liberal members of Congress. House Speaker Pelosi, D-Calif., said they fought for the higher stipends during protracted negotiations only to settle on the lower number when Republicans refused. Democrats plan to hold a roll call vote on the $2,000 check proposal on Monday when members of the House return to Washington.

Senate Republicans, led by Senate Majority Leader Mitch McConnell, have opposed larger $2,000 checks as too costly and poorly targeted.
https://ktla.com/news/nationworld/republicans-block-2000-relief-bill-checks-despite-trumps-demand/

Sorry folks. Trump and the Democrats wanted to help everybody in the US with a one time $2k payment. But the Republicans said NO. Go figure!