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I'm in the group of businesses that got handouts that the business didn't need to survive, but the handouts did mean folks were kept on staff even without work.

I'm in the group of businesses that got handouts that the business didn't need to survive, but the handouts did mean folks were kept on staff even without work. This paid off big time for us (especially if covid had resolved by September) because we have seen demand pick back up pretty quickly in our space and the staff were ready to go. So if the downward trends had continued we'd have been in good shape and it would have been good timing. Of course, our covid control in the US has been a total disaster relatively to other much poorer countries even - we're still trying to figure out if masks are worth wearing (20 cents to maybe save a life). Instead of handouts the layoffs would have been a fine option, folks would have received unemployment. But the overhead and disruption of firing folks, canceling their benefits, and then re-hiring them (maybe) etc is not insignificant. The handouts meant we are ready to go once everything resolves which was supposed to be a lot sooner than it is looking like it will be.

gremlinsinc 6y ago
The problem is a lot of handouts didn't help anybody. Was just wasted, or bought like 2-3 months max. Now that's over with and there needs to be another, or a better idea... Alot of these businesses struggle because they have recurring bills: Rent, Mortgage, Utilities, etc... if all recurrables were 'frozen' or allowed 'pay what you want/can afford' then arguably everyone would be on better footing. E.g. Big bank has ten malls, Malls go to businesses and ask for rent, J.C. Penny's is like we can only pay 10%. Mall goes back to Big Bank and says our customers can only pay 10% each, so that's all we can pay. Bank's like sure w/e it's a crisis. Utitility companies, etc. same thing. Obviously there's other costs of business, but that would save a lot of the issues. Do the same of course for residential/renters as well, cause everybody is in the same boat. Then we'd need less stimulus $$. In other words try to make sure everyone's minimum (got the roof over my head) is met, and this would've been a good way to do that.

gremlinsinc 6y ago

The problem is a lot of handouts didn't help anybody. Was just wasted, or bought like 2-3 months max. Now that's over with and there needs to be another, or a better idea... Alot of these businesses struggle because they have recurring bills: Rent, Mortgage, Utilities, etc... if all recurrables were 'frozen' or allowed 'pay what you want/can afford' then arguably everyone would be on better footing. E.g. Big bank has ten malls, Malls go to businesses and ask for rent, J.C. Penny's is like we can only pay 10%. Mall goes back to Big Bank and says our customers can only pay 10% each, so that's all we can pay. Bank's like sure w/e it's a crisis. Utitility companies, etc. same thing. Obviously there's other costs of business, but that would save a lot of the issues. Do the same of course for residential/renters as well, cause everybody is in the same boat. Then we'd need less stimulus $$. In other words try to make sure everyone's minimum (got the roof over my head) is met, and this would've been a good way to do that.