Effects of Coronavirus (COVID-19) On Entertainment & Tourism Industry

[fryoj]

Thread drift here, but even if the state and local government threw them a party, I don't think GameStop is re-opening. Ditto Pier 1. I'm sure there will be others. More on topic, I have my doubts half the independent restaurants/bars in the tourist area of Orlando ever re-open. I don't think you can overestimate the damage that's been done. Which will spin-off into major setbacks for the theme parks, that most disposable of disposable income splurges.

Even the businesses that can re-open are going to be hurting because people won't have the disposable income to spend that they had in the past. There will probably be another wave of business closings after everything opens up. Companies that know they are out of business will try to re-open just to unload inventory and cash out what they can. So far there's just talk about helping small business. They keep touting small business loans, but all that does is add overhead and more expenses. I saw one report that they might try to convert the rent and payroll parts of those loans to grants, but that doesn't help if you are completely shut down and still have non-rent bills coming in, nor does it help if your business takes a dive after this is over. They are probably going to bail out every industry with a lobby all the way to the foreign owned and flagged cruise lines, but after that and the trillions in stimulus and UI money they spend, I doubt there will be anything left for small businesses.

 

[snayberry]

Even the businesses that can re-open are going to be hurting because people won't have the disposable income to spend that they had in the past. There will probably be another wave of business closings after everything opens up. Companies that know they are out of business will try to re-open just to unload inventory and cash out what they can. So far there's just talk about helping small business. They keep touting small business loans, but all that does is add overhead and more expenses. I saw one report that they might try to convert the rent and payroll parts of those loans to grants, but that doesn't help if you are completely shut down and still have non-rent bills coming in, nor does it help if your business takes a dive after this is over. They are probably going to bail out every industry with a lobby all the way to the foreign owned and flagged cruise lines, but after that and the trillions in stimulus and UI money they spend, I doubt there will be anything left for small businesses.

Yeah, it can’t always just be the big corporations that get the bailouts and tax cuts. The small time people, mom and pop places need help too. My parents restaurant has been slow ever since this whole thing started. Hoping things get better but it’s tough right now.

 

[Clive]

This is proof that businesses aren't going to be allowed to just do whatever they want while this virus is still spreading. Things aren't just going to reopen like a lot of you are suggesting because the bottom lines need them to. Until we are in a better situation, the government may not allow them to open.

OK, so what happens in two weeks, when all of the major conglomerates run out of the "good optics" money they set aside to pay their not working employees? That was the original gambit - we self isolate for two weeks to flatten the curve.

I'm not saying we don't need more time. We probably do, especially because of how chronically this has been mishandled from the top (and at several state levels, too). But if you think the lay-offs are bad now?

You need to remember that these conglomerates have years of entrenched positions in Washington. They are talking to the government on an hourly basis. McDonald's is throwing out all the stops to avoid having to pay sick leave from the stimuli packages (another matter entirely). Bob Iger personally arranged for the Disney parks to stay open at first in Cali and Florida.

This will not go on.

 

[Nick]

This will not go on.

I’ll take that bet. April 1 is just simply not feasible.

This is a public health crisis. Believe it or not, some things take precedent over Wall Street. Yes, a ton of people will lose their job and we seem to be headed for not just a recession, but a depression. But I’ll still take that if this is what we have to do to flatten the curve and minimize deaths.

 

[Andysol]

Aulani is closing on Tuesday

To be expected considering Hawai’i now has a mandatory quarantine of 14 days for ANYONE entering the island. They’ve closed up shop.
Islands don’t really play around.

Ive been in contact with my employees out there and they did say they have drive up testing en masse in Hawaii. Not sure how accurate that is as I didn’t confirm it but I have no reason to not believe them.

 

[Andysol]

OK, so what happens in two weeks, when all of the major conglomerates run out of the "good optics" money they set aside to pay their not working employees? That was the original gambit - we self isolate for two weeks to flatten the curve.

I'm not saying we don't need more time. We probably do, especially because of how chronically this has been mishandled from the top (and at several state levels, too). But if you think the lay-offs are bad now?

You need to remember that these conglomerates have years of entrenched positions in Washington. They are talking to the government on an hourly basis. McDonald's is throwing out all the stops to avoid having to pay sick leave from the stimuli packages (another matter entirely). Bob Iger personally arranged for the Disney parks to stay open at first in Cali and Florida.

This will not go on.

I’ll take that bet. April 1 is just simply not feasible.

This is a public health crisis. Believe it or not, some things take precedent over Wall Street. Yes, a ton of people will lose their job and we seem to be headed for not just a recession, but a depression. But I’ll still take that if this is what we have to do to flatten the curve and minimize deaths.

It’s an interesting debate and has significant ramifications either way. I wish you could both be wrong, but you can’t. The whole thing is so very unfortunate.

Im going to bring politics into this but not to spur further discussion or take a side (as there’s no reason to), but just to paint a picture:
It will be a very interesting dichotomy between the state and federal level. If one state wants to start opening and others don’t. Using Florida as an example; if they make the decision to open when other states don’t because their state Or local governments believe the trade off is worth it, what will the federal government do? And do we want the federal govt to have final say over it and further limit the state’s already limited autonomy? Again, no answer needs to be said, because they are debatable aspects; but the decisions of those outcomes can have future ramifications.
Policy or precedent in times of crisis can have positive or negative consequences. I always like to go back to the Patriot act because at the time of its passing, it had near universal approval nationwide. And a case could be made that it was beneficial at the time. But most people look back on it now with hindsight as a policy where the negatives have likely outweighed the benefits and most would prefer that act didn’t happen.

I say all that to say, be very open minded in every and all decisions and look at all aspects. This is a trying time and there are often a plethora of “best bad decisions” that might be necessary or not. It’s unprecedented and while it’s stressful, enjoy an aspect of the ride because it’s something you can look back on and grow from.
The saying “what doesn’t kill you makes you stronger” applies here. Growth from adversity can be very real and my hope is that everyone comes out 20 years from this a better person because of it.

 

[Clive]

I’ll take that bet. April 1 is just simply not feasible.

This is a public health crisis. Believe it or not, some things take precedent over Wall Street. Yes, a ton of people will lose their job and we seem to be headed for not just a recession, but a depression. But I’ll still take that if this is what we have to do to flatten the curve and minimize deaths.

You need to consider the broader picture here beyond COVID itself. I don't think it's gonna be April 1st. I think mid to late April at the latest.

If people can't pay their rent or buy food because they've lost their jobs, and no help comes, what do you think happens? What happens to the millions of people now sequestered in their homes who aren't equipped to do so - and furthermore, will refuse to do so? We can moralize and talk theoretics all we want, but it just isn't practical, no matter how any lives it would inarguably save.

I'm not trying to be a jerk or contrarian here. I am deeply fearful of what is going to happen when the other shoe drops and we reckon with the other impacts of this crisis. It is coming sooner than some people realize.

 

[Legacy]

It’s an interesting debate and has significant ramifications either way. I wish you could both be wrong, but you can’t. The whole thing is so very unfortunate.

Im going to bring politics into this but not to spur further discussion or take a side (as there’s no reason to), but just to paint a picture:
It will be a very interesting dichotomy between the state and federal level. If one state wants to start opening and others don’t. Using Florida as an example; if they make the decision to open when other states don’t because their state Or local governments believe the trade off is worth it, what will the federal government do? And do we want the federal govt to have final say over it and further limit the state’s already limited autonomy? Again, no answer needs to be said, because they are debatable aspects; but the decisions of those outcomes can have future ramifications.
Policy or precedent in times of crisis can have positive or negative consequences. I always like to go back to the Patriot act because at the time of its passing, it had near universal approval nationwide. And a case could be made that it was beneficial at the time. But most people look back on it now with hindsight as a policy where the negatives have likely outweighed the benefits and most would prefer that act didn’t happen.

I say all that to say, be very open minded in every and all decisions and look at all aspects. This is a trying time and there are often a plethora of “best bad decisions” that might be necessary or not. It’s unprecedented and while it’s stressful, enjoy an aspect of the ride because it’s something you can look back on and grow from.
The saying “what doesn’t kill you makes you stronger” applies here. Growth from adversity can be very real and my hope is that everyone comes out 20 years from this a better person because of it.

This is one of the more fascinating things to watch with regard to responses: the different levels of government operating independently, somewhat irrespective of of others. I literally just moved to California in January from Texas. Cali is one of the far more aggressive states. Texas isn’t. I actually feel far safer here than there, though. It’s uncomfortable, and boring. But I feel safe.

Basically, I can see Florida “reactivating” weeks before California does. California’s economy isn’t as reliant on tourism as Florida is; their agricultural industry hasn’t stopped and their tech industry is set up to telework without any major slowdowns. Florida has to reopen or it will starve.

There’s definite concerns with that though. Just as slow, inconsistent responses have complicated the nation’s attempt to stifle the contagion, premature “all clears” can cause flare ups and send us spiraling into the same thing over and over again.

The nation’s response, as things are currently operating, will be as strong as its weakest link.

 

[viking_wizard_eyes]

I'm not trying to be a jerk or contrarian here.

You’re not being a jerk or a contrarian, but I think you are being an alarmist. I think the scenario you’re envisioning is one of many possible outcomes. I’m not saying it’s invalid, but I do think it’s one of the more far fetched possibilities, at least on the scale/timeline you’re suggesting. I don’t think society will go from its current state to some dystopian resource war in mid-April, especially when we get some hard evidence that what we’re doing is working. Because, by all accounts, it does and will work. 1:1 comparisons maybe aren’t completely fair, but we can still predict our outcomes based on how other counties and societies have reacted to the pandemic. No other country has responded in the way you’re envisioning. Not yet, at least.

I think the majority of people have more resolve than you give them credit for. But idk, maybe I’m just being naive and optimistic? I’m definitely trying to stay positive, overall.

 

[fryoj]

You’re not being a jerk or a contrarian, but I think you are being an alarmist. I think the scenario you’re envisioning is one of many possible outcomes. I’m not saying it’s invalid, but I do think it’s one of the more far fetched possibilities, at least on the scale/timeline you’re suggesting. I don’t think society will go from its current state to some dystopian resource war in mid-April, especially when we get some hard evidence that what we’re doing is working. Because, by all accounts, it does and will work. 1:1 comparisons maybe aren’t completely fair, but we can still predict our outcomes based on how other counties and societies have reacted to the pandemic. No other country has responded in the way you’re envisioning. Not yet, at least.

I think the majority of people have more resolve than you give them credit for. But idk, maybe I’m just being naive and optimistic? I’m definitely trying to stay positive, overall.

A mid-April reopening would be a relief at this point. I'm much more concerned with Mid-May or later opening. And, at this point, I think Mid-May when the CDC guidelines currently expire as the first reasonable chance for the states and companies like Disney to reopen.

 

[Clive]

You’re not being a jerk or a contrarian, but I think you are being an alarmist. I think the scenario you’re envisioning is one of many possible outcomes. I’m not saying it’s invalid, but I do think it’s one of the more far fetched possibilities, at least on the scale/timeline you’re suggesting. I don’t think society will go from its current state to some dystopian resource war in mid-April, especially when we get some hard evidence that what we’re doing is working. Because, by all accounts, it does and will work. 1:1 comparisons maybe aren’t completely fair, but we can still predict our outcomes based on how other counties and societies have reacted to the pandemic. No other country has responded in the way you’re envisioning. Not yet, at least.

I think the majority of people have more resolve than you give them credit for. But idk, maybe I’m just being naive and optimistic? I’m definitely trying to stay positive, overall.

I want to be clear, a lot of what I'm suggesting can be avoided if substantial and meaningful stimuli are passed. This means rent & mortgage freezes, small business support, individual cash infusions - the works. The latter two are on the table, which is good. Mortgage freezes are on the table in some areas, but bafflingly, rent freezes have barely been discussed. In Los Angeles, one of the most expensive cities in the world with a huge existing homeless crisis, the current measure is to propose a temporary ban of rent and utility INCREASES.

You have to think from the perspectives of individuals and families who are about to lose everything. Freezing evictions isn't helpful because it just gives people insurmountable debt that they will carry into a depression where there is no work. What are they to do?

It is not too late to get ahead of this, but so far, I am less than confident. Pence's statement that the CDC is literally going to suggest those exposed can return to work if they have masks (which we... do not have enough of) suggests we are going about this in the worst possible way.

 

[HThomas]

On a positive note. The treatments are working. Check out this site Covid trial . Especially watch the interview of the French doctor he is one of the top guy in his field. These meds have been approved as a treatment and are now being prescribe in the US and globally. If these treatments continue to work over the next 7 days the curve will flatten. It's not all doom out there.

 

[HandsomePete]

Regarding the thread topic, Fun Spot finally decided to pack it in.

 

[Nick]

 

[Imperius]

Regarding the thread topic, Fun Spot finally decided to pack it in.

So they have been open for the last week? What idiots.

 

[Andysol]

That might be the death nail for Japan olympics this summer. A one off or the first domino...

 

[Robert G]

On a positive note. The treatments are working. Check out this site Covid trial . Especially watch the interview of the French doctor he is one of the top guy in his field. These meds have been approved as a treatment and are now being prescribe in the US and globally. If these treatments continue to work over the next 7 days the curve will flatten. It's not all doom out there.

Just to be clear, these have not been approved by the FDA for treatment and are currently being looked at as possible treatments. Many state boards of pharmacy are placing huge restrictions on dispensing these drugs because after Trump stated they were approved for treatment (which they have not been and the FDA later said as much) doctors started prescribing these meds for themselves and family members pre-emptively. Yes they may have an impact, but the study what was initially done consisted of 30 patients, of which I think only 10 were actually treated with that drug combo so much more research is needed before we can say it's an effective treatment.

 

[Cup_Of_Coffee]

Regarding the thread topic, Fun Spot finally decided to pack it in.

Lol when Fun Spot is the last thing to close

 

[RFRees]

That might be the death nail for Japan olympics this summer. A one off or the first domino...

Death *knell

 

[JoeCamel]

That might be the death nail for Japan olympics this summer. A one off or the first domino...

Poor Japan. they just can't catch a break. This was to be their shining moment to welcome the world and the world is not coming. Maybe next year