Title has blatant typo for past 2 hrs.
McDonald's is considering rent deferrals for franchisees
21–30 of 67 posts
Re: McDonald's is considering rent deferrals for franchisees
#22This sort of action is what we need across the economy. Cancellation or deferral. Rent deferral, interest deferral, mortgage deferral... etc. At the individual level maybe limit it to the lower 50%-70% of income earners. Cancel interest and utility/rent/mortgage payments for lower income population. Do it for 2-3 months. The upper half will just eat into their savings some but won’t suffer like those living paycheck…
I don't think it will make sense if a lot of landlords start kicking out restaurants and small business, or a bunch of residential tenants start getting evicted.
Why? It's not like they'll find people to replace them in paying the rent. Everything will be shut down. Just hit the pause button.
Re: McDonald's is considering rent deferrals for franchisees
#23It's funny how pretty much everyone was against the buyout of Lehman's Brothers, but now those same people will tell you that you should buy them out. Here is an idea - why don't we all mind our own business? inb4 this will affect us all - so did LB defaulting. If you're strong enough to wrestle a pack of toilet paper out of a senior arms, then you are probably strong enough to survive for a while by eating out of a…
Lehman were crooks. Like actual crooks.
Re: McDonald's is considering rent deferrals for franchisees
#24Next, it would be good if they would also cover the 90% of McDonalds workers who aren’t their direct employees. Pretty weak to say they can’t tell franchisees to follow their policy, and help cover the costs, when they can dictate how to run most other aspects of the business. Critical especially since these 500K workers are likely to need the income, and become a vector for the spread of the virus.
https://www.eater.com/2020/3/16/21181862/are-mcdonalds-starb...
Re: McDonald's is considering rent deferrals for franchisees
#25This sort of action is what we need across the economy. Cancellation or deferral. Rent deferral, interest deferral, mortgage deferral... etc. At the individual level maybe limit it to the lower 50%-70% of income earners. Cancel interest and utility/rent/mortgage payments for lower income population. Do it for 2-3 months. The upper half will just eat into their savings some but won’t suffer like those living paycheck…
McDonald's franchisees are the upper half.
Feels a bit like this is a "pass it on" type deal- killing the worries for the people in the middle probably relieves a lot of stress for people at the bottom- if I'm not worried about making rent, I'm probably not going to be pushing hours quite as hard, nor am I going to be as strict about people coming in. (Personally, I'd be ensuring that all my workers still had places to live and good food to eat, even if it cost me personally to do so.)
Re: McDonald's is considering rent deferrals for franchisees
#26This sort of action is what we need across the economy. Cancellation or deferral. Rent deferral, interest deferral, mortgage deferral... etc. At the individual level maybe limit it to the lower 50%-70% of income earners. Cancel interest and utility/rent/mortgage payments for lower income population. Do it for 2-3 months. The upper half will just eat into their savings some but won’t suffer like those living paycheck…
This is a massive question: how do we nearly shut down an economy and still meet people's basic needs?
Today's crisis is not 2008's crisis.
The economic changes seem more akin to WWII when there was rationing and production shifted to war efforts. Now we are shifting efforts to healthcare, and the logistics of maintaining basic consumer goods to the populace.
Both in WWII and today we want the ability to spin things back up once (fingers crossed) the virus abates without having made the situation worse by displacing or further indebting huge amounts of people.
When surveys show somewhere between 70-80% of Americans live paycheck to paycheck the potential consequences of the economy grinding to a halt would be devastating.
Talk of $1,000 payments to people help move the Overton Window, but don't solve the problem.
Re: McDonald's is considering rent deferrals for franchisees
#27This sort of action is what we need across the economy. Cancellation or deferral. Rent deferral, interest deferral, mortgage deferral... etc. At the individual level maybe limit it to the lower 50%-70% of income earners. Cancel interest and utility/rent/mortgage payments for lower income population. Do it for 2-3 months. The upper half will just eat into their savings some but won’t suffer like those living paycheck…
> The upper half will just eat into their savings some but won’t suffer like those living paycheck to paycheck.
What makes you think the upper half does not also contain people living paycheck to paycheck?
Re: McDonald's is considering rent deferrals for franchisees
#28This sort of action is what we need across the economy. Cancellation or deferral. Rent deferral, interest deferral, mortgage deferral... etc. At the individual level maybe limit it to the lower 50%-70% of income earners. Cancel interest and utility/rent/mortgage payments for lower income population. Do it for 2-3 months. The upper half will just eat into their savings some but won’t suffer like those living paycheck…
Why the divide? The middle class already pays most of the taxes and not getting the benefit as much as the lower income earner and now they are not getting help as well? If you want to make the divide why not just the really high upper income earner vs the rest of the population, since most people in middle class, though they have savings more than $15k are just regular people like you and me, with families and respo…
Those poor middle classes, haven't they been through enough? They can't even lift themselves up through their bootstraps like those deplorable "low income earners".
Re: McDonald's is considering rent deferrals for franchisees
#29If a company like McDonalds can pull it off, that will most likely give them quite an advantage. Once things go back to normal, that would mean McDonalds franchise network is likely to be in omaprativley good shape. When competitor don't implement solutios like this, McDonalds would have quite a head start! Not to speak about the franchise owners, and their employees to a certain extent.
I don't really get the question of "if" for anyone close to this size. It goes back to the old adage, "If you owe the bank a million dollars, you have a problem. If you owe the bank a billion dollars, the bank has a problem". A corporation as large as McDonalds can dictate terms to whoever holds their debt.
Re: McDonald's is considering rent deferrals for franchisees
#30Earlier quoted context omitted.
Why the divide? The middle class already pays most of the taxes and not getting the benefit as much as the lower income earner and now they are not getting help as well? If you want to make the divide why not just the really high upper income earner vs the rest of the population, since most people in middle class, though they have savings more than $15k are just regular people like you and me, with families and respo…
Those poor middle classes, haven't they been through enough? They can't even lift themselves up through their bootstraps like those deplorable "low income earners".
One social program for me, but not for thee.