Business closings over/under.

[derklug]

Watching the small guys dropping, and the nationwide companies closing, what do you think will be the final score?
I'm saying 130,000 small businesses and 105 large.
Doubt the individual death rate will top it.

 

[7998]

Next year is going to be a blood bath.

 

[HudsonFalcon]

What sucks is the mom & pops that won't survive, their market share will be gobbled up by the big faceless corps.

 

[SSSSSSSSSSSSVT]

I know of more businesses closing than deaths due to kung flu (zero btw)

 

[BlksvtCobra01]

I was driving thru a shopping center yesterday and noticed a small mom and pop kids gym/gymnastics place packing up. I felt bad for them I’m sure due to the Rona. There will probably be a lot more unfortunately.


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[Lambeau]

I know of more businesses closing than deaths due to kung flu (zero btw)

Great point.

 

[Relaxed Chaos]

The business, mortgage, finance, unemployment shit storm hasn't started yet.

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[lOOKnGO]

The business, mortgage, finance, unemployment shit storm hasn't started yet.

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The SBA has been offering intrest free loans for 1 year and 2% rates there after. Something doesn't add up to me.

 

[Weather Man]

Any mall that was hurting even a little is a goner.

 

[nxhappy]

The business, mortgage, finance, unemployment shit storm hasn't started yet.

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are you ****ing smoking? it already happened. market dropped to about 18,000. already at 24k Once we start opening up market is going to jump FAST. After election people are going to realize this whole thing is a political scam.

 

[nxhappy]

Next year is going to be a blood bath.

market is already recovering. within 3 months we will be semi recovered. major ****ed companies are restaurants and clothing. and a few airlines.

 

[nxhappy]

Any mall that was hurting even a little is a goner.

yep, all clothing and restaurants lol

 

[Drive XR7]

I know I'm talking to an echo chamber here but yall should not consider what you hear on this forum as reality everywhere.

 

[Blown 89]

The business, mortgage, finance, unemployment shit storm hasn't started yet.

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Agreed. We're still a few months away from feeling the impact. Damn near 40 million are unemployed and those numbers don't include business owners that don't qualify for unemployment nor those that are stuck in the progressing backlog.

Terms of sale are starting to come up this week. You're going to start seeing a lot more businesses dropping dead as they start defaulting on payment terms this month.

 

[nxhappy]

Agreed. We're still a few months away from feeling the impact. Damn near 40 million are unemployed and those numbers don't include business owners that don't qualify for unemployment nor those that are stuck in the progressing backlog.

Terms of sale are starting to come up this week. You're going to start seeing a lot more businesses dropping dead as they start defaulting on payment terms this month.

the stock market has already proven is doesn't give 2 ****s about unemployment. bears keeping hoping for a drop, and the bulls keep winning.

 

[VenomousDSG]

The market is mostly controlled by millionaires and billionaires speculating... And it's not a good economic indicator in situations like this. This is coming from a guy with a Finance degree too.

It will be bad once everything settles. And that's just if things start to go back to normal from this COVID-19 shit.... If we get another spike and things begin to shutdown again, it's going to be game over for the economy. Think of the great depression as a little fart compared to the shitstorm that will take place. Much bigger population, and much more business/economic activity takes place now than 90 years ago. It has the potential of getting very bad for a lot of people.

Although we are the greatest nation on the planet BY FAR, we still are susceptible to a collapse. A lot of people live like ostriches with their heads buried in the ground, and think we are too big to fail. We aren't.

 

[Twisted2v]

Part of it seems to be the effect of overvalued land. Someone sold a plot of commercial land and he and realtor became rich at the burden of businesses and working class people.

Somehow you have to make it selling widgets, food, or haircuts. All low profit margins.

If you build a factory, the city/county will come for their property taxes. And good luck competing against foreign products.

 

[7998]

market is already recovering. within 3 months we will be semi recovered. major ****ed companies are restaurants and clothing. and a few airlines.

The problem is revenues have been hit so hard it severely affects future budgets. Sure a percentage of the businesses that go under weren't on the best ground before this.

The company my wife works for has seen a 35% drop in orders. In reaction to that they let 30 people go and everyone had to take a 10%-25% salary cut.

A friend of mine who works for a large accounting company said they got rid of 30% of their staff including 30 or 40 CPA's.

Our company which almost exclusively does government work has been told to expect 50% cut in business next year.

The above situations are not unique and fairly representative of what is really going on around me.
All of these cuts have a ripple effect. They translate to cars that won't be bought, home improvements that won't be done, houses that won't be bought, vacations that won't be taken, so on and so forth.
The consequences of that ripple effect create a secondary hit to the economy.

Like I said above, I'm afraid we haven't even begun to see the bottom yet.

 

[earico]

The problem is revenues have been hit so hard it severely affects future budgets. Sure a percentage of the businesses that go under weren't on the best ground before this.

The company my wife works for has seen a 35% drop in orders. In reaction to that they let 30 people go and everyone had to take a 10%-25% salary cut.

A friend of mine who works for a large accounting company said they got rid of 30% of their staff including 30 or 40 CPA's.

Our company which almost exclusively does government work has been told to expect 50% cut in business next year.

The above situations are not unique and fairly representative of what is really going on around me.
All of these cuts have a ripple effect. They translate to cars that won't be bought, home improvements that won't be done, houses that won't be bought, vacations that won't be taken, so on and so forth.
The consequences of that ripple effect create a secondary hit to the economy.

Like I said above, I'm afraid we haven't even begun to see the bottom yet.

I'm in your camp. This is far from over. A V shaped recovery is a pipedream.

 

[DAVESVT2000]

Part of it seems to be the effect of overvalued land. Someone sold a plot of commercial land and he and realtor became rich at the burden of businesses and working class people.

I’m sure no one held a gun to the buyer’s head as he wrote the check..

don’t like the price, negotiate or move on to another piece of land..