NYC restaurants stop offering takeout
due to coronavirus crisis
by
Jennifer Gould Keil
Original Article
Posted By: Imright,
3/23/2020 5:29:02 AM
New York’s once-thriving restaurant scene is fast becoming a graveyard. Less than a week after being ordered to close all dining room service and focus solely on takeout, eateries are pulling the plug on that business, too. Takeout and delivery orders in the face of crescendoing coronavirus contamination fears just aren’t pulling in enough dough to keep the lights on. Plus, it’s not safe, restaurateurs say. Cristina Castaneda on Saturday shuttered her last two remaining restaurants, including Mexican restaurant El Mitote and Mediterranean eatery Ella Social,
Reply 1 - Posted by:
Jethro bo 3/23/2020 6:50:04 AM (No. 354836)
In NOLA, its estimated that the city will run a $100 million deficit due to loss taxes from businesses the Mayor ordered shut down. Then the City goobernment demanded the few businesses they allowed to stay open to pay their taxes as quick as possible so the city can continue to operate. And of course city services are being cut cause ther isn't enough money to operate things. And if businesses don't comply woth the Mayor's shut down orders, she will unleasch bureaucracy Hades. Goobernments risk a population of 'woke' voters that learn that goobernment failures, incompetency and grotesque priorities are not needed. Could this be the wake up for Americans to finally overthrow the 'New Deal' fantasy of goobernment can fix all?
11 people like this.
Reply 2 - Posted by:
ROLFNader 3/23/2020 7:47:11 AM (No. 354872)
Is there such a word as 'cresendoing'? Or is used in this case in order build a lame, lazy, lulling alliteration?
3 people like this.
Reply 3 - Posted by:
NorthernDog 3/23/2020 8:40:47 AM (No. 354918)
A restaurant owner in our area said the same thing about takeouts - it barely pays for itself. In the meantime, Chef-Boy-R-Dee canned raviolis are flying off the grocery store shelves.
5 people like this.
Your IRA/401(k) may have taken a hard hit, these small business people are the real victims of COVID-19 hysteria. Oh, all this government-promoted quarantine may have "saved the nation" from another flu, but these people are not insured for loss of business...a business on which most have bet their future and live off the earnings. When your favorite neighborhood restaurant, dry cleaner, hair and nail salon, barbershop and boutique stay shuttered, remember how it was all sad but oh so necessary. We got through this together! The government will send them a few bucks...they'll be fine.
7 people like this.
Reply 5 - Posted by:
DVC 3/23/2020 10:17:56 AM (No. 355020)
#4, about those "IRA/401K taking a hit" and the ridiculous cartoon today on Lucianne......we are not yet back to where we were at the end of The Zero's Eight Year Disaster, measured by the Dow. We may yet get there and even go lower.
IMO, and Motley Fool (investing advice) agrees, it is time to be putting whatever money you have sitting on the side into stocks. The stock market runup will be explosive once this problem is behind us. Money put in now will be up by 50% within a year, I will bet, if you just "buy the Dow". Careful selection of quality stocks could get far more return, but I am more of a mutual fund investor at my age.
3 people like this.
Reply 6 - Posted by:
lakerman1 3/23/2020 10:19:48 AM (No. 355022)
some restaurants operate on a pricing model for their services where the actual meal is not profitable, but the drinks and dessert generate the profit.
switching to take-out only, takes away that profit, in most cases.
2 people like this.
Reply 7 - Posted by:
msjena 3/23/2020 10:28:05 AM (No. 355033)
This needs to end, soon. Quarantine the sick and let the rest of us return to normal life. The effect on restaurants and other small businesses is already devastating.
7 people like this.
Reply 8 - Posted by:
Strike3 3/23/2020 11:04:02 AM (No. 355094)
crescendoing
Verb: Present participle of crescendo.
Adapted from the music term meaning increase in intensity.
My sympathies to anyone who owns and operates a business in New York. Your government is not on your side. Even people who still live there make me wonder why. During the Christmas Season, your government drones visit shopping malls across the borders in lower sales tax areas and take note of New York license plates in the parking lots.
For people who wonder why restaurant prices are so high in New York City, the restaurants must give a very healthy share of that to the government.
1 person likes this.
Reply 9 - Posted by:
DVC 3/23/2020 11:40:24 AM (No. 355169)
This will make Spaghetti-O's sales skyrocket, since many in NYC don't know how to cook.
1 person likes this.
Reply 10 - Posted by:
GoodDeal 3/23/2020 11:51:19 AM (No. 355189)
I guess people will just have to stop eating.
0 people like this.
Reply 11 - Posted by:
MDConservative 3/23/2020 1:42:19 PM (No. 355318)
#5 - I doubt small business proprietors and their employees have much idle cash to buy stocks while their respective businesses and employers flounder.
0 people like this.
Reply 12 - Posted by:
DVC 3/24/2020 2:02:21 AM (No. 355938)
Yes, not everyone will, but some keep some ready cash available for such opportunities. I specifically have a cash amount that will very soon be rolled into this market. It is part of my investment plan to have a significant cash position always available when opportunities present themselves. I expect to be able to earn a 50% to 70% return in 18-24 months with that cash.
Each person's situation is different, but planning for investing should be part of everyone's financial
planning. Way too many people put all their money into a huge home, calling it their investment, and leaving nothing for real investing. I won't throw rocks at that approach, but will say, that in my view a house is where I live, not an investment.
0 people like this.
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