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Started By
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re: I think it's a bad idea to close restaurants.
Posted on 3/16/20 at 1:20 pm to Spasweezy
Posted on 3/16/20 at 1:20 pm to Spasweezy
quote:
Not all gift cards work that way actually. A lot of times the money is pooled. If you buy a 10 dollar gift card at one of my places;
1.) I take your payment and it goes into my bank.
2.) The gift card processor takes the amount of the gift card from my account plus any fees associated with the purchase of the gift card.
3.). I only make money when the gift card is redeemed for products at one of my locations and I also pay merchant fees on the redemption of the gift card.
Sounds like this way is a terrible arrangement and would def not provide any short term benefit in this situation.
1
Posted on 3/16/20 at 1:21 pm to SportTiger1
quote:
What the hell does that have to do with the OP?
Not a thing. It’s something that the social distancing warriors are touting to make us feel better about all the places that are going to let employees go and declare bankruptcy over the next six months.
Posted on 3/16/20 at 1:31 pm to the808bass
You're reverse TDS has rotted your brain. Condolences bub. 
Posted on 3/16/20 at 1:32 pm to GumboPot
I think most everything done in response to this virus have been bad ideas.
Posted on 3/16/20 at 1:36 pm to imjustafatkid
quote:
This is not "help" and may be the dumbest thing I've seen people suggest. That is merely deferred revenue. It may help with short-term cash-flow, but that gift certificate is NOT cash. You buy it now and use it later. They don't get to recognize that revenue twice.
It's not dumb. You don't know much about the restaurant business. Purchasing these absolutely can help a restaurant weather a short-term (hopefully) cash crunch like this.
Posted on 3/16/20 at 1:40 pm to cwill
quote:
Condolences
I feel like everyone is taking crazy pills.
What’s the estimated increase in mortality from the increase in unemployment that’s going to accompany the social distancing proclamations?
What’s the estimated number of lives saved?
Posted on 3/16/20 at 1:45 pm to the808bass
I guess tanking the US economy is worth saving 12k ish lives
It’s crazy.
It’s crazy.
Posted on 3/16/20 at 1:47 pm to TideCPA
quote:
Well, yeah. The difference is that they can use the current cash flow to keep the lights on while the economy sucks and use their normal operating cash flow later down the line to cover the cost of sales once the business has picked back up. If it didn't make economic sense for a business to sell gift cards they...wouldn't do it.
The fat kid is married to his line of reasoning because it's in response to my post. Like 808bass it's the poster more than the post that matters.
Posted on 3/16/20 at 1:47 pm to roadGator
I think you’re on the high side there.
Posted on 3/16/20 at 1:49 pm to the808bass
Probably but I didn’t want the progs to be disappointed.
Posted on 3/16/20 at 1:50 pm to the808bass
Posted on 3/16/20 at 1:50 pm to the808bass
Posted on 3/16/20 at 1:56 pm to GumboPot
JBE is a commie
Posted on 3/16/20 at 1:58 pm to cwill
quote:
You can order take-out...
That's right. And we can close all the grocery stores because people can order delivery of their food. That's what all the people on 'My 600 Pound Life' do since they can't get out of bed.
Posted on 3/16/20 at 1:58 pm to GumboPot
I think so to, if they do that they are going to have to find a way to regulate the grocery stores. If not the shelves will stay empty and people will be killing each other over supplies daily
Posted on 3/16/20 at 1:58 pm to cwill
Yawn.
Posted on 3/16/20 at 2:04 pm to the808bass
Of course.
Posted on 3/16/20 at 2:06 pm to GumboPot
quote:went to lunch today at a local restaurant and enjoyed my meal without any fear of contracting the deadly WuFlu.
The pressure on grocery stores will be even greater and cause more social closeness at grocery stores. At least with restaurants open food choices are higher and as long as you are quickly in and out it will provide greater social distancing.
definitely fewer people at the time we went. so eat up.
people afraid to socialize can do their grocery shopping in the packed stores but not interested in restaurants.
Posted on 3/16/20 at 2:07 pm to Zach
quote:
And we can close all the grocery stores because people can order delivery of their food.
If they're delivering food, they aren't closed.
Posted on 3/16/20 at 2:07 pm to cwill
I missed his previous pieces on multiplicative viral epidemics. I’m sure he’s written them.
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