470 replies to this topic

[Victoria Watcher]

Whatever it takes to keep them from failing, I guess. This is one industry the government can't afford to see downtrodden, literally.

I’m not so sure. They can spring back up fast. They don’t rely on years of building up contracts and expertise and products and research and supply chains. It’s an industry that produces nothing of their own except atmosphere.

And while a long player in the industry has some legs (the keg) there is nothing stopping a new firm setting up shop and immediately doing well (browns).

Edited by Victoria Watcher, 06 April 2020 - 10:15 AM.

[spanky123]

I’m not so sure. They can spring back up fast. They don’t rely on years of building up contracts and expertise and products and research and supply chains. It’s an industry that produces nothing of their own except atmosphere.

And while a long player in the industry has some legs (the keg) there is nothing stopping a new firm setting up shop and immediately doing well (browns).

 

I think that the main challenge for restaurants (maybe less so bars) is that the recovery plan that is being articulated has a series of openings and lock downs occurring over the next 12-18 months. That may sound like a good idea to a health care expert, but the reality is that stores and restaurants can't just open for a few weeks or a month, rehire staff, order supplies and then shut down again. 

[Spy Black]

More empty storefronts on Government Street tourist drag as I did my late night visit to my office last night in order to pick up documents I need to continue working from home.

 

The empty stores I'm seeing downtown so far aren't ones that have been mentioned previously as planning to close, rather they seem to be COVID-19 specific closing, having been shuttered during the shut-down.

Edited by Spy Black, 06 April 2020 - 10:30 AM.

[Jackerbie]

More empty storefronts on Government Street tourist drag as I did my late night visit to my office last night in order to pick up documents I need to continue working from home.

 

The empty stores I'm seeing downtown so far aren't ones that have been mentioned previously as planning to close, rather they seem to be COVID-19 specific closing, having been shuttered during the shut-down.

 

Is Government looking as sad as Robson in Vancouver? Lots of boarded up shops on Robson and Granville Streets here due to break-ins.

 

via https://theprovince....9f-55dc0c4f043e

[spanky123]

List of creditors in the EncoreFX bankruptcy. Looks like shortfall is just shy of $50M. 

 

https://documentcent...o Creditors.pdf

[shoeflack]

Is Government looking as sad as Robson in Vancouver? Lots of boarded up shops on Robson and Granville Streets here due to break-ins.

 

It's seems the majority of closed businesses downtown (or at least those in that sort of LoJo group) are going with the packing paper on the inside of the windows route. Didn't see too much plywood up, but most shuttered businesses had the packing paper up inside their windows.

 

I suspect that might change as this drags on and more B&Es occur.

[gstc84]

Is Government looking as sad as Robson in Vancouver? 

 

Definitely not. I also wandered down to the office yesterday to pick a few things up. Lots of windows papered over here (most of Lower Johnson, for example), but the only storefront I saw fully boarded up yesterday was the Vitamin Shop on Broad St.

[spanky123]

Hearing lots of anecdotal stories about local tech companies vacating premises at the end of March. Many were claiming force majeur as a reason for breaking leases.

 

Don't know if that is a sign of companies closing, adjusting to a work at home model or just planning to renegotiate later hoping that the vacancy rate will be much higher and landlords more eager.

Edited by spanky123, 06 April 2020 - 11:09 AM.

[Matt R.]

Saddened to see that only select SGS customers qualify for the hydro business relief program. MGS customers, like myself, don’t qualify at all. Lame.

Matt.

[spanky123]

Saddened to see that only select SGS customers qualify for the hydro business relief program. MGS customers, like myself, don’t qualify at all. Lame.

Matt.

 

Don't feel bad, by the time they stop adjusting the definitions of who qualifies I doubt there will be anyone left. Horgan got the sound bite however.

[Matt R.]

I wonder if we get any relief on our staff house bill, as they are unemployed and we pay the hydro. Hmm.

Matt.

[Mike K.]

One of the doors into the Yates Street side of St. Andrew’s is still boarded up. The fitness gym next to the Yates post office has boarded up windows.

Street, the clothing store further down at Government, is papered up but kitty corner from there the Delphi building is boarded up at street level due to remediation work. That look actually fits this time around considering what else is going on.

There was a line-up for Fol Epi with about five or six people standing in a line waiting for take out. There was also a huge line at the Coast Capital on Douglas.

I had to cross Pandora at Vancouver and observed many more tents than a week ago. One or two were setup on Vancouver’s boulevard in front of the CRA building. Will the tents push further east along Pandora and into the 1,000-block?

[shoeflack]

I had to cross Pandora at Vancouver and observed many more tents than a week ago. One or two were setup on Vancouver’s boulevard in front of the CRA building. Will the tents push further east along Pandora and into the 1,000-block?

 

Do you mean 1100-block? The tents have been all over the 1000-block of Pandora for at least 2 weeks now, particularly between the CRA building and Save-On.

 

I think the ongoing presence of The Wade crews is really the only thing preventing tents from popping up in the 1100-block part of Harris Green. That and the existing residential aspect. Even on the 1000-block they seem to be at least somewhat avoiding planting their tents directly in front of the residential buildings, but the creep is starting to happen.

[Mike K.]

Right, 1100-block.

I did note, however, that people asking for change along the medians of busy intersections are all gone. I normally encounter several but today not one was around.

[rjag]

Right, 1100-block.

I did note, however, that people asking for change along the medians of busy intersections are all gone. I normally encounter several but today not one was around.

 

Its as I said to you a few weeks back, their sources of income are drying up, theres not enough traffic at these intersections to justify standing there all day anymore. Its like the parkades and cars parking downtown are fewer so theres not as much to break in to. The drug supply is also drying up and the prices are increasing so petty crime will adjust to more B&E's and assaults as people become desperate.

[Mike K.]

Yes, indeed you did.

[Victoria Watcher]

well they are getting free government-funded heroin now so maybe some demand is being met.

[VIResident]

Our Lives and the Economy—3 Months From Now by Benjamin Tal and Taylor Rochwerg - April 8, 2020 

 

One in ten have already closed permanently (restaurants), and one in five are expected to close permanently within the next month.

 

- https://economics.ci...EC_PDF&ID=10629. 

[Victoria Watcher]

also how many will fail if the pick-up is not immediate? will large amounts of people avoid restaurants even if told they are safe? will people be too financially unstable at first to go back to their usual dining out habits or frequency? unknowns.

Edited by Victoria Watcher, 10 April 2020 - 07:30 AM.

[spanky123]

also how many will fail if the pick-up is not immediate? will large amounts of people avoid restaurants even if told they are safe? will people be too financially unstable at first to go back to their usual dining out habits or frequency? unknowns.

 

I think the part the report ignores is the capacity for a recovery in some sectors. If we accept that 40%-50% of people can't afford to pay their rent then how are they going to afford to go to restaurants and bars and travel when this is over?

 

The CIBC report indicates an unemployment rate at 11% at its peak yet we are already north of 20% and the Feds have stopped reporting on how many people have applied for EI and the CERB.