Small Businesses Are Dying by the Thousands — And No One Is Tracking the Carnage

By artappraiser on Wed, 08/12/2020 - 6:37am |

They simply close down and never show up in bankruptcy tallies. More than half of owners are worried their firm won’t survive

Tragic: Small businesses are disappearing by the thousands, and the drag on the economy from these failures could be huge https://t.co/ZAvDBDZhhF via @business
— Katya Kazakina (@artdetective) August 11, 2020

URL:

https://www.bloomberg.com/news/articles/2020-08-11/small-firms-die-quietly-leaving-thousands-of-failures-uncounted?sref=NZW35ECu

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Just showed this graph to someone for the first time. Don't think I did enough to prepare them for what they were about to see. pic.twitter.com/sYxkIVXQP6
— Nick Bunker (@nick_bunker) August 12, 2020

by PeraclesPlease on Wed, 08/12/2020 - 4:38pm

all you have to do is subtract 75% of restaurant workers, no mass entertainment and sporting events work, no wedding industry, no party industry, lots of office janitorial work curtailed, and tons of other things I can't think of, those things not starting to revive until fall 2021. A miraculous vaccine coming out by late 2020 does not mean everyone gets it right away, it means summer 2021 if we are miraculously lucky

There are two Phase III trials US is involved with. Maybe 100M doses year end. Maybe another 100M end of 1st qtr.
Couple Phase II trials maybe more mid to late 2021.

Check it out:https://t.co/tdFtFnuuMD
— ⚡Arcanjel ⚡ (@bstnboy) August 7, 2020

The Latest: Most Americans won’t get coronavirus vaccine until well into 2021 https://t.co/aazNorQB5K
— Derek Davis (@derek_ddavis) August 11, 2020

The #remote #work revolution continues. Let's hope #global #bandwidth is sufficient :-)

"After Google, Facebook, and Twitter, Intel Corporation to allow employees to work from home until June 2021.
90% of Intel’s 13,700 employee…https://t.co/zVzCu32E5o https://t.co/Uk0VHYwmzy
— Israel Trade Ireland (@Tradeisrael) August 10, 2020

I used to think: well worse comes to worse, I can always get work as a waitress, I am good at it. Not any more. The mind boggles at the ramifications.

This is one main reason protesting about something else besides where income is going to come from has really irritated me. Now is not the time to prioritize what they were prioritizing, it strikes me as illogical hysteria clear and simple. (And boredom for some of the kiddies as I have noted.)

by artappraiser on Wed, 08/12/2020 - 5:11pm

something on the teevee just reminded me I forgot about the entire travel & hospitality industry, it's like they are so far gone we have forgotten about them. Everything from hotel maids to luggage handlers to air stewards to train & subway maintenance @ like 25% employment of the past until a vaccine.

One winner: carmakers, car sales are up. So anything to do with travel by car will help with some jobs. Parking attendants if it's somewhere people want to car.

They are talking on NY1 on how 25,000 hotel rooms will never come back. Guy says partly due to overbuilding before coronavirus, 60% of recently built hotels in Brooklyn are now homeless shelters, they never had the customers to begin with.

by artappraiser on Wed, 08/12/2020 - 7:29pm

medical providers, believe it or not:

I haven't written about hospital layoffs in a while, but that's not because they're not still happening. This Minnesota hospital and clinic system just laid off 900 of its 14,500 employees; about as many are on unpaid furloughs through the end of July.https://t.co/n2GwxaGskL
— Alex Berenson (@AlexBerenson) May 25, 2020

Not just hospitals for elective work. Also think physical therapists, massage therapists, dermatology clinics, dentists and dental hygienists, optometrists, annual checkups.... Things I myself have put off because of the risk, so have so many others.

by artappraiser on Wed, 08/12/2020 - 5:22pm

Small Businesses Are Dying by the Thousands — And No One Is Tracking the Carnage

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