Jump to content

      












Photo

COVID ECONOMICS


  • Please log in to reply
1475 replies to this topic

#1461 Ismo07

Ismo07
  • Member
  • 1,267 posts

Posted 09 April 2021 - 02:56 PM

it was a bit of a silly idea to begin with.

minimum wage is a bad idea. but varying levels with age or duties is an even worse idea.

 

I'm going to disagree, restaurants run on pretty low margins and obviously wages are a huge expense.  Servers get plenty from tips for the most part, with a minimum wage raised and food costs rising, tips continue to increase.  Once indoor patrons return $2-300 per night extra is not out of the territory.  Why not make it like a hairdressing chair, servers pay for the tables they want to host and keep their own tips.  Hmm that just came to me, I'm going to think about that more.  Busier restaurants get more per table from their servers.  They become contractors...  Food and drink prices come down, tip % may even increase at that point when every one understands how it works.  New restaurants may start with 'free' tables or low price to lure better servers.  Hmm...


Edited by Ismo07, 09 April 2021 - 03:11 PM.


#1462 Victoria Watcher

Victoria Watcher
  • Member
  • 20,994 posts

Posted 09 April 2021 - 03:55 PM

^ your contractor idea will not work.  because you would also not be able to schedule the workers.  they would have to be able to set their own start and stop times and days to truly be a contractor.


  • Matt R. likes this

#1463 TFord

TFord
  • Member
  • 49 posts

Posted 09 April 2021 - 09:38 PM

Great to see some new ideas on the table, without innovation the sit down dinning industry is finished. There's only so many $18 cocktails I can swallow. On top of everything else, wage costs alone have risen almost 50% these last 3 or 4 years.

 

No it's over, death by 1000 cuts for those still going. Surviving on legacy money or new investment from wealthy but inexperienced donors. I don't think it's possible to operate a profitable restaurant irrespective of the volume of business. 

 

Does anyone under 40 even eat out anymore? Delivery model will thrive for a while but even that will cannibalize itself after a while. From what I understand most of popular delivery apps are haemorrhaging cash.

 

Dread to think what some folk are going through.

 

TFord


  • Matt R. likes this

#1464 Matt R.

Matt R.
  • Member
  • 3,420 posts

Posted 09 April 2021 - 09:39 PM

The provincial government announced a funding pool of $50 million to help the 14,000 restaurants, bars, breweries, wineries, gyms and fitness centres affected by the March 30 health orders that closed all indoor dining and group fitness gatherings until April 19.





The new Circuit Breaker Business Relief Grant gives those businesses up to $10,000 to help with expenses such as rent, insurance, employee wages, maintenance and utilities. The grant can also help cover unexpected costs that resulted from the restrictions, such as the purchase of perishable goods.

https://www.timescol...-aid-1.24305144

Looks like we’re good for five grand. Thanks, ndp!

Edit to add grants appear to be based simply on how many employees you have, and with the 5-99 group paying out $5000, I’d say most qualifying businesses will get this grant. If you’ve been approved for the Recovery Grant, they will contact you.

Matt.

Edited by Matt R., 09 April 2021 - 10:32 PM.


#1465 Mike K.

Mike K.
  • Administrator
  • 62,230 posts

Posted 10 April 2021 - 06:46 AM

Matt is so busy applying for grants these days we barely see him on the forum!
  • Matt R. likes this

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


#1466 Matt R.

Matt R.
  • Member
  • 3,420 posts

Posted 10 April 2021 - 11:58 AM

Matt is so busy applying for grants these days we barely see him on the forum!


It’s bonkers out there, man! Are there no grants for forum owners impacted financially by the pandemic?

Matt.

#1467 spanky123

spanky123
  • Member
  • 15,867 posts

Posted 10 April 2021 - 12:44 PM

It’s bonkers out there, man! Are there no grants for forum owners impacted financially by the pandemic?

Matt.

 

It’s bonkers out there, man! Are there no grants for forum owners impacted financially by the pandemic?

Matt.

 

If you have $40K in costs Mike you should be able to get the $60K 'loan'.

 

Take it while you can, folks are stuffing pockets with cash as fast as they can. One guy I know got his $60K loan and immediately put it into ether as we all know that will 10x by the time he has to repay the money! 

 

D-Day will be April 19th when we start to get an idea of what all of this will cost. I will be exiting most of my positions beforehand.


Edited by spanky123, 10 April 2021 - 12:45 PM.

  • Matt R. likes this

#1468 Matt R.

Matt R.
  • Member
  • 3,420 posts

Posted 10 April 2021 - 01:15 PM

Get 60, pay back 40! Do the math. :)

Matt.

#1469 LJ

LJ
  • Member
  • 10,382 posts

Posted 10 April 2021 - 06:38 PM

bitcoin/gold/silver    bad cash drives out good cash

 

https://www.youtube....h?v=Xf61t9_alMQ


Life's a journey......so roll down the window and enjoy the breeze.

#1470 Urbanpioneer

Urbanpioneer
  • Member
  • 38 posts

Posted 12 April 2021 - 01:14 PM

So much money being doled out dolla dolla bill style for the settlers and there precious eateries yet the Beacon Hill park gulag still subsists on scraps ....



#1471 Rob Randall

Rob Randall

    C'mon man, cut out the malarkey

  • Member
  • 15,343 posts

Posted 12 April 2021 - 01:44 PM

So much money being doled out dolla dolla bill style for the settlers and there precious eateries yet the Beacon Hill park gulag still subsists on scraps ....

 

Pretty much anyone that wants a free apartment gets a free apartment. Of course there are a few minor strings, the most important one being that person must put in a reasonable effort to co-exist with their neighbours. 


"[Randall's] aesthetic poll was more accurate than his political acumen"

-Tom Hawthorne, Toronto Globe and Mail


#1472 Victoria Watcher

Victoria Watcher
  • Member
  • 20,994 posts

Posted 12 April 2021 - 01:45 PM

The federal government will announce a multibillion-dollar relief package for Air Canada and parts of the industry on Monday evening, after months of negotiations between Ottawa and the sector, sources have told The Globe and Mail.

 

Michael Sabia, the veteran corporate executive recently recruited as deputy minister of finance, has finalized a package, according to three sources with knowledge of the negotiations. The Globe is not identifying the sources because they were not authorized to discuss the talks publicly.

 

Equity stakes have been ruled out, so the rescue package, which the sources said will be worth billions of dollars, is expected to be a mix of low-cost loans and wage subsidies, and to come with restrictions related to executive compensation. Two of the sources said the package would ensure key regional routes would be maintained and that current orders for aircraft would not be cancelled if jobs in Canada were affected. It is unclear whether equipment purchases are part of the package.

 

One source said the government will announce a fund from which airlines can draw to refund customers for flights cancelled because of the pandemic. Air Canada has $2.3-billion in prepaid fares, including cancelled flights, according to company documents.

 

 

https://www.theglobe...for-air-canada/



#1473 Victoria Watcher

Victoria Watcher
  • Member
  • 20,994 posts

Posted 12 April 2021 - 03:31 PM

Air Canada announced today that it has entered into a series of debt and equity financing agreements with the Government of Canada, which will allow Air Canada to access up to $5.879 billion in liquidity through the Large Employer Emergency Financing Facility (LEEFF) program.

 

"Air Canada entered the pandemic more than a year ago with one of the global airline industry's strongest balance sheets relative to its size. We have since raised an additional $6.8 billion in liquidity from our own resources to sustain us through the pandemic, as air traffic ground to a virtual halt in Canada and internationally," said Michael Rousseau, President and Chief Executive Officer of Air Canada.

 

https://ca.travelpul...-announced.html


Edited by Victoria Watcher, 12 April 2021 - 03:31 PM.


#1474 Victoria Watcher

Victoria Watcher
  • Member
  • 20,994 posts

Posted 12 April 2021 - 05:27 PM

English pubs can open again but 2,000 have already gone under

 

https://www.cnn.com/...open/index.html



#1475 Ismo07

Ismo07
  • Member
  • 1,267 posts

Posted Yesterday, 10:50 AM

English pubs can open again but 2,000 have already gone under

 

https://www.cnn.com/...open/index.html

 

I would think over the next 18 months they will all be back...  Maybe not same owners but someone will open them.



#1476 Mike K.

Mike K.
  • Administrator
  • 62,230 posts

Posted Yesterday, 12:26 PM

The former pub owners are busy learning to code, and those who learned to code are now opening pubs.


  • spanky123, Matt R., Barrrister and 1 other like this

Know it all.
Citified.ca is Victoria's most comprehensive research resource for new-build homes and commercial spaces.


 



1 user(s) are reading this topic

0 members, 1 guests, 0 anonymous users