U.S. retailers plan to stop paying rent to offset virus closures
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Re: U.S. retailers plan to stop paying rent to offset virus closures
#2Corporations should keep paying to entities who don't have as much wealth as them. For some people who aren't extraordinarily rich, it maybe their only source of income.
Re: U.S. retailers plan to stop paying rent to offset virus closures
#3Off topic: @JumpCrisscross I love these economic related posts you continually submit, please continue!
Re: U.S. retailers plan to stop paying rent to offset virus closures
#4Corporations should keep paying to entities who don't have as much wealth as them. For some people who aren't extraordinarily rich, it maybe their only source of income.
Thousands of U.S. Land Corporations form shell companies; sad dogs, one-legged orphans popular choices for board of directors
Re: U.S. retailers plan to stop paying rent to offset virus closures
#5Corporations should keep paying to entities who don't have as much wealth as them. For some people who aren't extraordinarily rich, it maybe their only source of income.
How much stockpiled cash are you estimating that Subway or Mattress Firm has?
Re: U.S. retailers plan to stop paying rent to offset virus closures
#6Off topic: @JumpCrisscross I love these economic related posts you continually submit, please continue!
:)
Re: U.S. retailers plan to stop paying rent to offset virus closures
#7Corporations should keep paying to entities who don't have as much wealth as them. For some people who aren't extraordinarily rich, it maybe their only source of income.
Most of these companies are paying rent to gigantic REITs typically owned in turn by hedge funds. They're not ripping off mom and pop here.
Re: U.S. retailers plan to stop paying rent to offset virus closures
#8I'm not sure how widespread this will be, but it will be interesting to see the impact on commercial real estate in SF and NYC where empty storefronts are already a major issue.
I'm imaging a lot of businesses were barely scraping by before the shelter-in-place.
We might see a huge increase in empty storefronts after this passes.
Re: U.S. retailers plan to stop paying rent to offset virus closures
#9Corporations should keep paying to entities who don't have as much wealth as them. For some people who aren't extraordinarily rich, it maybe their only source of income.
Many of these retailers were barely holding on as it was. Any "wealth" that they have is heavily encumbered by debt. They have bills to pay and severely reduced income. Someone's not getting paid.
Re: U.S. retailers plan to stop paying rent to offset virus closures
#10Corporations should keep paying to entities who don't have as much wealth as them. For some people who aren't extraordinarily rich, it maybe their only source of income.
You realize that the retail business can be quite difficult and that a monthlong shuttering can and will drive many into bankruptcy. Rent payments without income will put the nail in the coffin for many businesses.
I do agree with your sentiment. Paying their workers who are probably struggling significantly at the moment would be ideal. I don't feel that landlords need the $'s as much as those workers.