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re: If your business got destroyed by rioters..
Posted on 6/2/20 at 3:03 pm to The Third Leg
Posted on 6/2/20 at 3:03 pm to The Third Leg
quote:
The suburbs suck. I
Eh I wouldn’t go that far
Eventually I’ll be out in Westport or Greenwich when it’s time for us to have kids.
The commute will suck. But those suburbs are worth it
0
Posted on 6/2/20 at 3:03 pm to deeprig9
quote:
I am afraid so many of these businesses never re-open in the same spots, and so many downtown areas that have been revitalized over the past 30 years are going to return to slums that were rampant in urban areas in the 1970's. Empty storefronts, food deserts, no tax base to support local schools, etc.
Posted on 6/2/20 at 3:03 pm to deeprig9
No,we should divest from these communities. Let them fend for themselves.
Posted on 6/2/20 at 3:07 pm to lsuwontonwrap
quote:Well a bunch of the ones lighting fires are white leftists who don't care about BLM's cause...they're just ANTIFA anarchists who only care about creating mayhem and overthrowing the government.
Someone explain to me how burning down a black-owned business helps the BLM cause. Target is one thing, but they were going after black owned liquor stores, bars and other businesses. Makes no sense to me. It's the "I'm in the gutter, so I'm going to bring you down, too" attitude.
Posted on 6/2/20 at 3:13 pm to deeprig9
People don't think critically. I understand being upset, mad, or sad, due to someone dying.
But here's the thing, I don't mean to be dismissive to anyone. But quite frankly, people die everyday. To be more frank, people are murdered everyday.
Are we supposed to allow for a new business/building be looted and burned everytime someone dies?
I've said it before and I will say it again, not a single person who took part in destroying and burning businesses would have been ok if they came home to find their house completely empty, or worse, burned down.
People are hypocrites.
But here's the thing, I don't mean to be dismissive to anyone. But quite frankly, people die everyday. To be more frank, people are murdered everyday.
Are we supposed to allow for a new business/building be looted and burned everytime someone dies?
I've said it before and I will say it again, not a single person who took part in destroying and burning businesses would have been ok if they came home to find their house completely empty, or worse, burned down.
People are hypocrites.
Posted on 6/2/20 at 3:17 pm to tigers win2
quote:
Business insurance doesn’t cover rioting and looting.
I think it just depends on the policy. An all risk policy will cover unless there’s an exclusion.
Posted on 6/2/20 at 3:24 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?
If you’re a smart business owner, you make this decision based on cost/benefit and not emotions. Do you own or lease the building/lot? Was the location profitable before the riots? Is there another location that would be more profitable, and can you use the insurance money plus whatever equity you have remaining in the existing property to move there? What’s the cash flow impact of moving vs. staying?
Also keep in mind that many small business owners, especially retail businesses, have to worry about losing their customer base if they relocate.
If I had to guess what would happen in a hypothetical world where everybody’s losses were covered by insurance, I’d suspect that:
- Most profitable businesses would reopen.
- Most struggling businesses would take the money and move on.
- Businesses that were barely profitable would skew towards closing due to the cash flow impact of an extended closure right after the COVID shutdowns, unless their hypothetical insurance also reimbursed them for lost revenue.
- Some would move to new locations, but mostly because of new opportunities that didn’t exist without the insurance check.
Posted on 6/2/20 at 4:14 pm to lsuwontonwrap
quote:
It's the "I'm in the gutter, so I'm going to bring you down, too" attitude.
Exactly this. When I worked for the EBR School board I had a young black boy come up to me crying because he was scared to go home when he made an A on his test. He didn't want to face his family and how cruel they were going to be to him.
Posted on 6/2/20 at 4:33 pm to deeprig9
Hopefully they have V&MM coverage.
Posted on 6/2/20 at 4:44 pm to deeprig9
Depends. Do I have a mortgage on the property my business is in? Did I sign a multi-year lease?
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