I was just talking to my mechanic by text at middlefield & n shoreline at the Arco on the southwest corner, just across 101 from the Googleplex. He may have to permanently close his business and get a regular job because his landlord will demand rent when there are no customers.
A similar situation is happening to Louis Rossmann who doesn't have business interruption insurance because they require flood insurance and weasel out of covering disasters.
Another situation is Michael Moore's nonprofit movie theaters won't be reimbursed to pay or govt pay their employees' salaries, and building lease/rent.
Also, tip-based workers are screwed too.
Only 20% of workers are getting some money, with a little promise of temporary UBI to some people.
And then the government has the gall to offer interest-bearing loans instead of no interest loans and grants? WTF!
The situation is there will be people working to put food on the table sick or not, and riots if people aren't made whole. The US economy will crash and burn for decades if this isn't handled correctly by clawing back some of the tens of trillions the MIC, corporations, and the rich stole from the little guys and regular folks.
Commercial landlords are likely thinking about it. the solution is to figure out who else rents from the same landlord/other small businesses in proximity, team up in solidarity and demand a rent freeze. The alternative is owning capital in either a ghost town or Bartertown (https://en.wikipedia.org/wiki/Mad_Max_Beyond_Thunderdome).
For the skeptical, think back to the Occupy movement of around 2011, which mostly took over public space. With so much private space sitting empty, the outcome would be very very different this time.
“Freeze rent” as in not increasing the monthly payment?
Waive late fees as in, expect to be paid for all months back rent in the first place?
Gosh, that’s cute. Small businesses forced to shut down aren’t going to be gritting their teeth and paying back rent when the government decides they’re allowed to re-open.
I would guess most businesses forced to close at least 6 weeks will be write-offs. Walk away from the debt and start again if you can / dare. Unless someone else (govt) is picking up the tab.
A similar situation is happening to Louis Rossmann who doesn't have business interruption insurance because they require flood insurance and weasel out of covering disasters.
Another situation is Michael Moore's nonprofit movie theaters won't be reimbursed to pay or govt pay their employees' salaries, and building lease/rent.
Also, tip-based workers are screwed too.
Only 20% of workers are getting some money, with a little promise of temporary UBI to some people.
And then the government has the gall to offer interest-bearing loans instead of no interest loans and grants? WTF!
The situation is there will be people working to put food on the table sick or not, and riots if people aren't made whole. The US economy will crash and burn for decades if this isn't handled correctly by clawing back some of the tens of trillions the MIC, corporations, and the rich stole from the little guys and regular folks.