July 22, 2020
Rising tide of bankruptcies and what’s ahead for restaurants, farms, and people like me | Cal Thomas on America’s Expiration Date
Some of the stats they discuss are sobering:
The US Chamber of Commerce indicates 43% of all small businesses could close permanently in the next six months. According to Yelp, 15,000 restaurants have already closed permanently and the NRA (National Restaurant Association) reports food and beverage sales at restaurants are off $94 billion from March to May. Wall Street Journal reports “Many restaurant owners tapped the federal Paycheck Protection Program and negotiated breaks with their landlords. Now, some who got PPP loans say that money has been spent. And many landlords who offered rent deferments of a few months now want to be paid in August, said Alden Parker, co-chair of Fisher & Phillips’s National Hospitality Practice Group. They discuss the impact on all this on America’s farmers before turning their attention to the 25 million Americans who are set to lose the $600/week bump in federal unemployment benefits at the end of July.
Then Carmen talks with syndicated columnist and author Cal Thomas about America’s Expiration Date.