[NUHuskies01]

Originally Posted by DigitalMilford

It's a crushing blow for those in the restaurant business-- The most high risk segment of the business world. The failure here, however, is for the federal government not to provide the level of support seen overseas that is helping foreign businesses survive.

This right here. I said the same thing in the early fall. All these businesses that are having to close, especially the restaurant business, it is not the failure of local and state governments, but the federal government which has refused to provide any sort of real aid. How hard would it have been to provide enough funding to cover leases and utilities at the least? You have the tax returns, you have rental agreements, it could be done.

Even the deal struck last night, not going to help anyone. But hey, at least now when ad executives go back to work in NYC, those restaurants that have managed to stay open will be able to get more liquor sales due to the ability to write businesses lunches off again! Really big deal!

[CTartist]

Originally Posted by BobNJ1960

Now BDB & AC have crushed NYC's economy, and it will not ever be back where it was a year ago. In all likelihood, by winters end, 1/2 of restaurants open last winter are toast. No Broadway for far more than 5 months in 2021. No packed MLB for years. No nightlife in NYC in 2021.

In a way, Ct has gotten lucky as we did pick up some of the NYC exiles, but long-term, Florida will get far more. As a Ct resident, NYC's future concerns me, as I do not think picking up NY exiles will make up for a depressed NYC economy. 15% of FFC residents work for NYC corps. I know some from Milford whose employers liquidated in the last 12 months.

FFC has outperformed the rest of Ct the last 2 decades mainly due to proximity to NYC, so we should all fear that becoming a liability as it did in 2020, versus an asset. 2020 NYC disaster was not simply COVID related; businesses are far more concerned about the massive rioting we saw just a few months ago..right in midtown Manhattan and the outer boroughs.

I almost forgot the BIGEST thing.

Look at the Stock Market.....going up, up up. There is a disconnect between the Stock Market and Main Street. There will be lots of pain in the rest of the country but all those folks on Wall Street are making loads of money. The stock market going up is always good for NYC/CT.

What bubble? Millionaires are getting positioned for a strong market in 2021
https://www.morningstar.com/news/mar...market-in-2021
"If the stock market keeps it up, the rich will, indeed, be getting richer in 2021.
According to the CNBC Millionaire Survey (link), 70% of households with at least $1 million in investable assets are looking for the S&P 500 to rally at least 5% in the coming year. Almost a third expected double-digit gains. That would be on top of a year that has already seen a rally of almost 14%."

[mdovell]

Originally Posted by CTartist

I almost forgot the BIGEST thing.

Look at the Stock Market.....going up, up up. There is a disconnect between the Stock Market and Main Street. There will be lots of pain in the rest of the country but all those folks on Wall Street are making loads of money. The stock market going up is always good for NYC/CT.

What bubble? Millionaires are getting positioned for a strong market in 2021
https://www.morningstar.com/news/mar...market-in-2021
"If the stock market keeps it up, the rich will, indeed, be getting richer in 2021.
According to the CNBC Millionaire Survey (link), 70% of households with at least $1 million in investable assets are looking for the S&P 500 to rally at least 5% in the coming year. Almost a third expected double-digit gains. That would be on top of a year that has already seen a rally of almost 14%."

You do realize that nearly half of the country owns stock either directly or indirectly....right?

In many cases wall st is main st. Pensions, IRA's, 401K's, ESOP's etc.

There's always going to be a disconnect if someone chooses to not be part of it. It's like being part of a housing boom but not owning a house.

[BobNJ1960]

Originally Posted by CTartist

1) I am not a fan of Bill DiBlasio or Ocasio-Cortez but let's be objective here. The entire country is shutdown because of Covid-19.

[1.

https://www.labor.ny.gov/stats/nyc/#...ovember%202020.

12.1% unemployment NYC 6.7% USA


https://www.labor.ny.gov/stats/press...es/prlaus.shtm

NY State 9.6%, USA 6.7%

[BobNJ1960]

Originally Posted by DigitalMilford

You seem to be almost celebrating. (I'm sure you'll deny this, but, your tone is a giveaway).

How does a single congressional representative crush the economy of one of the worlds largest cities? All that advocating for working people?

It's a crushing blow for those in the restaurant business-- The most high risk segment of the business world. .

.

First the good news: Ct will welcome NYC exiles. We will take that blighted regions refugees yearning to be safe.

Restaurants should have been open at 50% capacity. Ll Dulce's own statisticians showed 1.4% of cases were linked to indoor dining. 1 in 70!

Pandemic, riots, lawlessness, anti business admins are killing NYC and State.

J P Morgan examining major moves to Southeast. Carl Icahn moving his firm there.

Restaurants did not spike NYC unemployment alone. There are major spikes in job losses across all sectors in NY.

I have a high regard for NYC, which is why I went to Fordham despite city being as horrible in 1980 as the early BDB years.

The exodus of much of the Finance back office jobs started pre covid under BDB.

WFH has far more businesses realizing its time to move to greener pastures.

NYC is almost unrecognizable now versus just a few years ago..in a tragic way.

It will take another Rudy G/Mike bloomberg style rebirth, on steroids to rebound.

[DigitalMilford]

Originally Posted by BobNJ1960

First the good news: Ct will welcome NYC exiles. We will take that blighted regions refugees yearning to be safe.

Restaurants should have been open at 50% capacity. Ll Dulce's own statisticians showed 1.4% of cases were linked to indoor dining. 1 in 70!

Pandemic, riots, lawlessness, anti business admins are killing NYC and State.

J P Morgan examining major moves to Southeast. Carl Icahn moving his firm there.

Restaurants did not spike NYC unemployment alone. There are major spikes in job losses across all sectors in NY.

I have a high regard for NYC, which is why I went to Fordham despite city being as horrible in 1980 as the early BDB years.

The exodus of much of the Finance back office jobs started pre covid under BDB.

WFH has far more businesses realizing its time to move to greener pastures.

NYC is almost unrecognizable now versus just a few years ago..in a tragic way.

It will take another Rudy G/Mike bloomberg style rebirth, on steroids to rebound.

NY remains one of the safest large cities in the world. Crime remains relatively low. Perhaps people would be less reactionary if they weren't getting unnecessarily killed by police officers on television. I don't condone violence or looting, but, this problem is solved with police reforms, and more equity in society, in general.

1.4% of cases were linked to indoor dining? That's meaningless unless you know how many people are eating in restaurants, how much time their spending there, etc... I imagine if people were gathering in restaurants like they gather at political gatherings we'd have more dead restaurant employees and fewer dead Herman Cains.

You've been a vocal cheerleader for the "inevitable" end times here in Connecticut and now New York, blaming prominent Democrats, for as long as I've been reading this forum. It hasn't happened yet despite your continual prognistations. I doubt it ever will.

[BobNJ1960]

Originally Posted by DigitalMilford

You've been a vocal cheerleader for the "inevitable" end times here in Connecticut and now New York, blaming prominent Democrats, for as long as I've been reading this forum. It hasn't happened yet despite your continual prognistations. I doubt it ever will.

I've also been a fan of Lamont's covid handling regarding the economic implications (pleasant surprise. he has not been Malloy II nor Cuomo Thank God), which will differentiate the massive lockdown economies like NYC, vs the other regions.

NYC needed a far smaller scale set of restrictions, as did the nation, with different treatment based on age.

For those under 50, covid death rates drop sharply, and below 40 become very rare. One size fits all did nothing except crush economies. NJ, NY, CT, MA are all still Top 5 per capita death rates.

[SteveM85]

Originally Posted by DigitalMilford

NY remains one of the safest large cities in the world. Crime remains relatively low. Perhaps people would be less reactionary if they weren't getting unnecessarily killed by police officers on television. I don't condone violence or looting, but, this problem is solved with police reforms, and more equity in society, in general.

1.4% of cases were linked to indoor dining? That's meaningless unless you know how many people are eating in restaurants, how much time their spending there, etc... I imagine if people were gathering in restaurants like they gather at political gatherings we'd have more dead restaurant employees and fewer dead Herman Cains.

You've been a vocal cheerleader for the "inevitable" end times here in Connecticut and now New York, blaming prominent Democrats, for as long as I've been reading this forum. It hasn't happened yet despite your continual prognistations. I doubt it ever will.

European countries and beloved Canada are back on lockdowns. Those politicians haven't figured it out either. Pandemic is gonna do what pandemic does.

[BobNJ1960]

Originally Posted by SteveM85

European countries and beloved Canada are back on lockdowns. Those politicians haven't figured it out either. Pandemic is gonna do what pandemic does.

Great point.

Thank God we aren't London now.

[SteveM85]

Originally Posted by BobNJ1960

First the good news: Ct will welcome NYC exiles. We will take that blighted regions refugees yearning to be safe.

Restaurants should have been open at 50% capacity. Ll Dulce's own statisticians showed 1.4% of cases were linked to indoor dining. 1 in 70!

Pandemic, riots, lawlessness, anti business admins are killing NYC and State.

J P Morgan examining major moves to Southeast. Carl Icahn moving his firm there.

Restaurants did not spike NYC unemployment alone. There are major spikes in job losses across all sectors in NY.

I have a high regard for NYC, which is why I went to Fordham despite city being as horrible in 1980 as the early BDB years.

The exodus of much of the Finance back office jobs started pre covid under BDB.

WFH has far more businesses realizing its time to move to greener pastures.

NYC is almost unrecognizable now versus just a few years ago..in a tragic way.

It will take another Rudy G/Mike bloomberg style rebirth, on steroids to rebound.

CT always welcomes NYC exiles. What's new?
WFH is going to happen regardless.
I had to go into Manhattan last Sunday for something. I'd wouldn't call it unrecognizable. Not even close.