4570 replies to this topic

[Ismo07]

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.

[Victoria Watcher]

^ 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.

[TFord]

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.]

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.

[Mike K.]

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

[Matt R.]

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.

[spanky123]

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.]

Get 60, pay back 40! Do the math.

Matt.

[LJ]

bitcoin/gold/silver    bad cash drives out good cash

 

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

[Urbanpioneer]

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 ....

[Rob Randall]

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. 

[Victoria Watcher]

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/

[Victoria Watcher]

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.

[Victoria Watcher]

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

 

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

[Ismo07]

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.

[Mike K.]

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

[AllseeingEye]

Yeesh, was mentally taking note last night of the to-do list for renos during this second summer of covid.....

 

- new handrail for the front walk;
- sanding down/painting the rebuilt deck from last summer;
- new plumbing fixture/piping for the kitchen sink;
- touch up exterior paint;
- new vanity and shelving for upstairs bathroom;
- new oak barrell/planters for the back yard and - if I can somehow squeeze it
   in the budget -
- new fence along the driveway....

.....That on top of the bucks we just shelled out for the new HW tank.

 

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ - especially the lumber for the last item on the list: wish my portfolio included forestry companies and lumber suppliers, lol....

[spanky123]

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

 

I mean no offense by this statement Ismo as I think very highly of you but this is a claim I hear often from people who have job certainty!

 

The hardest hit group from the pandemic are small businesses owners. Entry level workers may have lost their jobs but most have the CERB/CRB/EI and stats show that more money has been paid in subsidies then was ever lost from wages. Mid-large business has done well as they have the resources to leverage grants and subsidies. Many small business owners have been hanging on by a thread and/or depleted savings. Few are going to be in any rush to try and start over again. Folks that have cash saved or going to be reluctant to spend it on new ventures as they are uncertain as to the long term trends with remote work, online shopping and delivery.

 

It is going to take a long time for empty shops and restaurants to start up again.

Edited by spanky123, 14 April 2021 - 12:30 PM.

[Victoria Watcher]

i'm not sure any shops that close now are coming back.

 

can we think of any great new retail shop start-ups in the past decade?

Edited by Victoria Watcher, 14 April 2021 - 12:36 PM.

[spanky123]

i'm not sure any shops that close now are coming back.

 

can we think of any great new retail shop start-ups in the past decade?

 

I think Ismo's point was that any shop that closes will be replaced by a new one, not necessarily that the same shop will re-open.