May 2, 2018 at 5:20 am #36537BrianlParticipant
Dork – no, Schmizza, sadly, is no longer out here. I am a floor manager at Caper’s Cafe’, on the ABC side right behind security (other side from Delta). I’ll be here until 1-1:30ish, if I’m not upstairs, I’ll be downstairs counting money and will be back soon. Stop on by!June 27, 2018 at 5:06 pm #37897
A few years ago, a company called Walleye Technologies, Inc. was developing a millimeter wave camera designed to detect objects inside of walls. Time nominated it among the best inventions of 2009.
Unfortunately, Walleye was never able to get its product to market. It filed for Chapter 7 bankruptcy.
Yes, I do realize that this was several years ago. However, I’m mentioning it because I’m intrigued by the idea of cameras that operate at radio frequencies.
Below is a video demonstrating a prototype unitFebruary 25, 2019 at 3:02 pm #41018
Payless Shoes has announced that it will be closing its remaining stores by the end of May. See https://www.fool.com/investing/2019/02/19/payless-shoesource-is-going-out-of-business-these.aspxJanuary 7, 2020 at 10:25 am #43743
Yesterday was a sad day for Elsie the Cow, as Borden filed for chapter 11 bankruptcy protection.January 7, 2020 at 5:33 pm #43756lastdayParticipant
Pier 1 Imports close to bankruptcy.
Macy’s closing around 15 stores.April 20, 2020 at 10:45 am #45924
Reuters reports that Neiman Marcus will be filing for bankruptcy protection as early as this week. Many of its 14,000 employees have been furloughed.April 20, 2020 at 1:09 pm #45925
Needless Markup.April 21, 2020 at 5:21 pm #45942
Earlier this afternoon, KEX interviewed a local restauranteur. She painted a pretty grim picture:
April 21, 2020 at 5:57 pm #45943Andy BrownParticipant
- Typical food delivery outfits, such as DoorDash typically cause restaurants to lose money because these food delivery companies take a commission of about 30%. She stated that her restaurant is handling all of its delivery using its own drivers for this reason. However, many people who want to order food to go like the convenience of having sites that have multiple restaurants and menus.
- Due to social distancing protocols, restaurants are having to use reduced kitchen staff.
- Relief money that could theoretically go to restaurants is only available if the restaurants promise to hire back about 70% of their people within a few (about two) weeks of receiving the funds. Unfortunately, at typical restaurants, most of the employees are servers, and they are not needed while the dining room is closed.
- She estimated that 50% of locally-owned restaurants may never re-open.
I think the big question is this: Will eight more months of drumpf usher in a depression? I think it’s quite possible, especially if reopening certain business result in a second wave that will be larger than the administration calculates. There is no doubt that there will be a second wave. It will probably occur at the same time as the next influenza season begins. If drumpf has his way there will be no federal preparation for what is surely to come and depending on which governors cave in to the right wing morons leading the death march there may be dire consequences.April 21, 2020 at 6:09 pm #45944radiogeekParticipant
I’m hoping the PDX Radio Corp Deathwatch won’t record my small business.
I’ve applied for the SBA PPP loan, and was in the group that was told “sorry we’re out of money”. While waiting to see if Congress would come up with more money, I’ve been reading everything I can from all sources, IRS, SBA, bank documents from friends who did close on the loans and got the funds.
The problem is that it seems to be a boondoggle, even worse than has been in the news. The SBA made it’s own rules, as the law was typically vague. The law requires that banks make the loans, not the SBA so every bank has interpreted the rules differently. The actual note I read from a colleague has no mention of any forgiveness mechanism whatsoever. It says the loan amount “may” qualify for forgiveness, according to rules not yet made and which can be changed in the future.
The IRS says that to get forgiveness, you will get to deduct from your Federal tax deposits. OK, but taxes are only a fraction of payroll, so to get the money back you would have to keep your staff employed at the same level after the 8 weeks so there was enough future payroll to tax so the tax could become a credit. But none of this is applied to the loan balance, it accrues interest and is payable to the bank nonetheless. So, you get 8 weeks of expenses but would have to make a unilateral gamble that after 8 weeks all is back to normal or you don’t get a tax credit, so you don’t get forgiveness.
Even worse, the decision for if you get forgiveness is supposed to be made by your bank. So they have to evaluate for the government if the government will allow you to take tax credits in the future, when there is no revenue flowing to them from this additional work?
Hope that made some sense. I might have to refuse the Federal funds even if they are awarded and fire my staff and close the doors. I can’t gamble a liability of a year’s wages when we’re only bringing in 10-15% of normal cash flow, just to delay unemployement for two months and be left holding the bag.
Why can’t a grant from Congress be just that, a grant?
April 21, 2020 at 8:56 pm #45947
- This reply was modified 3 months, 3 weeks ago by radiogeek.
All support from Trump at this point has strings. They will give you the money but you may or may not be on the hook to pay it back. My advice is to steer clear of this money whether you are a business owner or a homeowner.
More people are likely to seek forbearance on their mortgage. Unless you are on your last dime and have no other options, then don’t do it. But the vast majority of people seeking forbearance on their mortgage are doing so because it’s an “opportunity” not a necessity. If you seek a 3 month forbearance in month 4 you will owe 4 months of payments at that time all at once otherwise you’re in default and will lose your home.
The fine print says you “may” be qualified for a loan modification, but there’s no guarantee of that happening and if you look back at the last housing bust you’ll see that loan modifications are ugly and will ruin your credit.May 4, 2020 at 7:04 am #46116BrianlParticipant
J.crew files for bankruptcy. Is this the first of many retailers during this pandemic?May 4, 2020 at 10:11 am #46118
Yes. I’ve heard that Macy’s, Gap, Sears, JC Penney all may file eventually.May 4, 2020 at 12:27 pm #46119edselehrParticipant
In the struggle for malls to stay alive, this could very well be the death blow.May 4, 2020 at 12:41 pm #46120
Especially for the owners of the malls.
- You must be logged in to reply to this topic.