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Message
1
Posted on 6/2/20 at 1:29 pm to tigers win2
quote:
After the Coronavirus shut down and now damage to store fixtures and inventory stolen/ destroyed, a lot of the mom and pop stores are not going to reopen most likely.
Absolutely, and the ones that do reopen, aren't likely to reopen in the same areas. At least I wouldn't be.
This is what the beginning of blight looks like, I'm afraid.
Posted on 6/2/20 at 1:30 pm to deeprig9
If had a business that was making good money, and insurance covered my rebuild, I would reopen.
Posted on 6/2/20 at 1:31 pm to Sao
That's not how it works, location usually matters. Let's take the Nike store in Chicago, that location absolutely matters.
The places like generic Dollar Stores or local groceries that are looted, those are locals that likely own that and live very close by. Again, the location matters. They aren't just going to rebuild in the burbs.
Let's say its like a check cashing place, again that location matters immensely.
Its not like they are burning down online IT offices that can just up and move.
The places like generic Dollar Stores or local groceries that are looted, those are locals that likely own that and live very close by. Again, the location matters. They aren't just going to rebuild in the burbs.
Let's say its like a check cashing place, again that location matters immensely.
Its not like they are burning down online IT offices that can just up and move.
Posted on 6/2/20 at 1:31 pm to FlyinTiger93
quote:
Too much money lives in downtown areas. You have to have businesses, and fine dining, to support that. They will rebuild the high end brands.
I agree. In Atlanta, there's a couple dozen restaurants right around the Dome and World Congress Center that are basically money printing machines, those will certainly reopen (assuming people start having conventions and sports and concerts again...). But that's a fraction of what is being destroyed.
Posted on 6/2/20 at 1:32 pm to deeprig9
Look at Canal Street. Can you imagine it being the (THE) shopping mecca for your part of the country?
When Mississippi women would shop in the upscale department stores (pay no sales tax) because the stores would deliver to their homes in Mississippi in trucks that did the deliveries on scheduled routes.
If you were black, you would have gone to Dryads street and had upscale shopping that welcomed you. (And those upscale shops died earlier).
All those shopping opportunities- lost. Investments-lost.
A supportive infrastructure- lost.
There're losses by fast moving rioters; and there are slower losses but with the same net effects.
When Mississippi women would shop in the upscale department stores (pay no sales tax) because the stores would deliver to their homes in Mississippi in trucks that did the deliveries on scheduled routes.
If you were black, you would have gone to Dryads street and had upscale shopping that welcomed you. (And those upscale shops died earlier).
All those shopping opportunities- lost. Investments-lost.
A supportive infrastructure- lost.
There're losses by fast moving rioters; and there are slower losses but with the same net effects.
Posted on 6/2/20 at 1:33 pm to burdman
quote:
If had a business that was making good money, and insurance covered my rebuild, I would reopen.
What if your insurance told you they wouldn't cover this again. Then would you still reopen? Especially if you could make similar $ with the same business somewhere else?
Posted on 6/2/20 at 1:34 pm to deeprig9
quote:
What if your insurance told you they wouldn't cover this again. Then would you still reopen?
Yes.
quote:
Especially if you could make similar $ with the same business somewhere else?
If it was guaranteed that business would be the same or better, then yes. But that can't be guaranteed.
Posted on 6/2/20 at 1:36 pm to baldona
quote:
The places like generic Dollar Stores or local groceries that are looted, those are locals that likely own that and live very close by. Again, the location matters. They aren't just going to rebuild in the burbs.
Let's say its like a check cashing place, again that location matters immensely.
You can add liquor store to that too.
So... a slum. A shell of what those streets were 7 days ago.
Posted on 6/2/20 at 1:44 pm to deeprig9
quote:
Would you rebuild in the same area or go far away?
There are a lot of businesses in these neighborhoods that would only be profitable in low income areas.
Posted on 6/2/20 at 1:47 pm to deeprig9
Considering the rioters have made no requests/terms/demands to cease rioting, what makes me believe they have a desire to stop?
Posted on 6/2/20 at 1:48 pm to Alabama Slim
quote:
There are a lot of businesses in these neighborhoods that would only be profitable in low income areas.
Liquor store, laundramat, dollar tree, check cashing.
They'll all reopen. How much of the other stuff?
= slum from the 1970's.
Posted on 6/2/20 at 1:52 pm to deeprig9
I'd take the insurance money and retire. Put a frick You sign on the rubble and be done with it
Posted on 6/2/20 at 2:00 pm to deeprig9
quote:
Would you rebuild in the same area or go far away?
You won’t make the same kind of money being far away
You build in the same area or don’t build at all
Posted on 6/2/20 at 2:01 pm to deeprig9
quote:
Especially if you could make similar $ with the same business somewhere else?
The stores on Michigan Ave in Chicago
The stores in Soho
High end stores. They have the financial backing. They’re not moving far far away where you don’t get the foot traffic
This post was edited on 6/2/20 at 2:06 pm
Posted on 6/2/20 at 2:08 pm to tigers win2
quote:
Business insurance doesn’t cover rioting and looting.
A BOP (business owners policy) does cover rioting, looting (theft), fire, and vandalism. Glass coverage is available under separate coverage.
Posted on 6/2/20 at 2:46 pm to deeprig9
quote:
And let's say you were smart and were insured up the wazoo...
Would you rebuild in the same area or go far away?
I know there's a few restaurants on Marietta Street in Atlanta that aren't planning to reopen there.
Posted on 6/2/20 at 2:57 pm to deeprig9
The suburbs suck. I’d rather deal with the occasional riot than live out in the sticks.
Posted on 6/2/20 at 3:00 pm to deeprig9
As a small business owner I’ll say this... if one of my stores was destroyed then it would be permanently shut at this time. Between the shutdown and something like looting, I’m getting no relief from insurance at this time.. I hurt for these people as they struggle and can’t imagine being hit with a double tap of uninsurable acts
Posted on 6/2/20 at 3:01 pm to weadjust
quote:
A BOP (business owners policy) does cover rioting, looting (theft), fire, and vandalism. Glass coverage is available under separate coverage.
I would assume people with businesses in these areas have this coverage?
This post was edited on 6/2/20 at 3:02 pm
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