- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Pat O’Briens lays off 80 and NOLA’s future cloudy
Posted on 9/27/20 at 4:36 pm
Posted on 9/27/20 at 4:36 pm
NOLA
"Our people want to work just as much as anyone else wants to work," said Waguespack, who expressed frustration that Orleans Parish has kept restrictions tight while the rest of the state has moved to the next phase, allowing more people to gather in bars and restaurants.
"Regardless of how many emails we send to the City and the Council, our fate is in the hands of a certain few and that is troubling," she said. "We're in a critical situation in New Orleans and it's frightening."
Also last week, the parent company of another New Orleans hospitality institution, Emeril's Restaurant on Tchoupitoulis Street, issued a WARN notice that it can no longer promise that 97 workers on temporary furlough will not be permanently laid off
"Our people want to work just as much as anyone else wants to work," said Waguespack, who expressed frustration that Orleans Parish has kept restrictions tight while the rest of the state has moved to the next phase, allowing more people to gather in bars and restaurants.
"Regardless of how many emails we send to the City and the Council, our fate is in the hands of a certain few and that is troubling," she said. "We're in a critical situation in New Orleans and it's frightening."
Also last week, the parent company of another New Orleans hospitality institution, Emeril's Restaurant on Tchoupitoulis Street, issued a WARN notice that it can no longer promise that 97 workers on temporary furlough will not be permanently laid off
This post was edited on 11/17/20 at 10:14 am
38
Top RepliesPosted on 9/28/20 at 9:44 am to doublecutter
As someone who owns several office, warehouse, and other commercial buildings since the 70s in Orleans, Jefferson, & St. Tammany Parish here is what I am seeing taking place right now. The Class A and Class B office building demand in Orleans is downright horrific and right now we are on pace with a glut of even more office space coming on line in 2021 with very little, if any, demand. We own a mix of B & C class buildings in the area but Orleans is really bad but Jefferson is holding its own. We are down about 14% in office space in Jefferson but Orleans we are down 36% as of last week in Class B/C space. I'm only speaking about the commercial buildings we own which include a mix of retail & restaurants have also taken a plunge--in Orleans we have lost about 45% of our retail & restaurant tenants and in Jefferson we are only off by 30% of our retail & restaurants. St. Tammany we are down about 15% retail and restaurants. Luckily we own our properties and are not leveraged with debt unlike many other property owners who have commercial portfolios in Orleans, Jefferson, & St. Tammany.
Warehouse demand has remained static as some of our tenants have been stock piling up goods due to the lower demand which is good for us.
Orleans Parish as of last month was losing $150,000,000 million a week and that number is expected to increase at the beginning of November to $200 mil a week if the city doesn't start laying off employees and cutting departments.
New Orleans right now is completely shut down for convention business for 2020 and 2021 looks like a repeat. I talked to one of the VPs with the NOTMC a couple of weeks ago and the person said they felt like Orleans won't see a recovery in the convention business until 2024-2025 and that the shutdown has seriously impeded our ability to go after business when other cities are aggressively poaching our conventions. Another factor that has hurt us was the idea to increase the taxes on the hotels downtown which cut into the bottom lines of many trade associations who host conventions and conferences.
As of August 30th, 50% of all restaurants in Orleans Parish were closed and 33% of all hotels were shut down with 3/4 of those closures permanent. Jefferson was faring much better with 30% of all restaurants closed and 5% of all hotels shut down. Didn't get the figures for St. Tammany.
As for Mardi Gras--is the big question mark right now as one idea is to have Mardi Gras but with NO throws and no spectators. The Krewes will roll down the parade routes and spectators can watch them roll virtually. I'm unsure how many Krewes will actually roll under this model but it is a leading contender if we have Mardi Gras in 2021. Everyone knows that Mardi Gras is the economic engine for the entire area so if it gets cancelled the carnage will be catastrophic for every single restaurant/bar/retail establishment not only in Orleans but also in Jefferson.
A lot of people who live in Jefferson are dependent on work in Orleans Parish so the spillover effect is major.
LaToya is hoping the CARES Act will provide enough money to subsidize the City's coffers but as others have said we are so far behind the curve right now nationally that other cities will use CARES Act cash to actively out promote New Orleans because we will be forced to use that money to plug holes in Government not use it to recruit conventions and conferences.
I also see a lot of people who have been vested in New Orleans for a long time moving out of Orleans Parish to St. Tammany, some to Jefferson Parish, but more to the Miss Gulf Coast, Houston, Dallas, and Florida panhandle. Luckily for those people low interest rates have spurred on some purchase and refinance activity but I really worry what will happen with LaToya and the idiots on the city council push forward with their new property tax and sales tax hikes they are quietly floating around right now. If they get those tax increases passed then we will see an ever bigger drop in activity in New Orleans.
**Update there was a typo in my original post I said 67% of all hotels were shut down when in fact it is 33% of all hotels are shut down. 67% of all hotels are open for business even though they are not generating a lot of business right now.
Warehouse demand has remained static as some of our tenants have been stock piling up goods due to the lower demand which is good for us.
Orleans Parish as of last month was losing $150,000,000 million a week and that number is expected to increase at the beginning of November to $200 mil a week if the city doesn't start laying off employees and cutting departments.
New Orleans right now is completely shut down for convention business for 2020 and 2021 looks like a repeat. I talked to one of the VPs with the NOTMC a couple of weeks ago and the person said they felt like Orleans won't see a recovery in the convention business until 2024-2025 and that the shutdown has seriously impeded our ability to go after business when other cities are aggressively poaching our conventions. Another factor that has hurt us was the idea to increase the taxes on the hotels downtown which cut into the bottom lines of many trade associations who host conventions and conferences.
As of August 30th, 50% of all restaurants in Orleans Parish were closed and 33% of all hotels were shut down with 3/4 of those closures permanent. Jefferson was faring much better with 30% of all restaurants closed and 5% of all hotels shut down. Didn't get the figures for St. Tammany.
As for Mardi Gras--is the big question mark right now as one idea is to have Mardi Gras but with NO throws and no spectators. The Krewes will roll down the parade routes and spectators can watch them roll virtually. I'm unsure how many Krewes will actually roll under this model but it is a leading contender if we have Mardi Gras in 2021. Everyone knows that Mardi Gras is the economic engine for the entire area so if it gets cancelled the carnage will be catastrophic for every single restaurant/bar/retail establishment not only in Orleans but also in Jefferson.
A lot of people who live in Jefferson are dependent on work in Orleans Parish so the spillover effect is major.
LaToya is hoping the CARES Act will provide enough money to subsidize the City's coffers but as others have said we are so far behind the curve right now nationally that other cities will use CARES Act cash to actively out promote New Orleans because we will be forced to use that money to plug holes in Government not use it to recruit conventions and conferences.
I also see a lot of people who have been vested in New Orleans for a long time moving out of Orleans Parish to St. Tammany, some to Jefferson Parish, but more to the Miss Gulf Coast, Houston, Dallas, and Florida panhandle. Luckily for those people low interest rates have spurred on some purchase and refinance activity but I really worry what will happen with LaToya and the idiots on the city council push forward with their new property tax and sales tax hikes they are quietly floating around right now. If they get those tax increases passed then we will see an ever bigger drop in activity in New Orleans.
**Update there was a typo in my original post I said 67% of all hotels were shut down when in fact it is 33% of all hotels are shut down. 67% of all hotels are open for business even though they are not generating a lot of business right now.
This post was edited on 9/28/20 at 1:24 pm
All Replies (405)
Posted on 9/27/20 at 4:38 pm to ihometiger
Latoya destroyin' like nobody's business!
Posted on 9/27/20 at 4:38 pm to ihometiger
Elections have consequences.
Posted on 9/27/20 at 4:39 pm to ihometiger
This post was edited on 9/27/20 at 4:40 pm
Posted on 9/27/20 at 4:39 pm to ihometiger
God dammit Latoya.
Posted on 9/27/20 at 4:41 pm to DomePatrol1980
If only that building blowing up said Hard Rock.
Posted on 9/27/20 at 4:43 pm to jimmy the leg
"Phaasssee TWOOO!!!"
Posted on 9/27/20 at 4:46 pm to ihometiger
JBE & The Destroya delivering the kill shot to NOLA. These people would frick up a wet dream.
Posted on 9/27/20 at 4:47 pm to Bourre
This is sickening that this is occurring in the United States of America.
Posted on 9/27/20 at 4:48 pm to ihometiger
What the hell are we still treating covid like it's deadlier than anything we've ever dealt with in history?
Posted on 9/27/20 at 4:50 pm to brewhan davey
quote:
What the hell are we still treating covid like it's deadlier than anything we've ever dealt with in history?
I was telling someone at work.. it’s like the politicians are governing and making these rules unaware that we the public have access to the information and it does not warrant these restrictions whatsoever .
And they wonder why people are saying frick it
Posted on 9/27/20 at 4:51 pm to brewhan davey
2 weeks behind Italy 
The cure is now worse than the disease.
The cure is now worse than the disease.
Posted on 9/27/20 at 4:52 pm to ihometiger
People should hang for this.
Posted on 9/27/20 at 4:53 pm to ihometiger
Was that Charbonnet person honestly so bad that NOLA took an import from California over her for mayor?
For a place so parochial that your high school is still an important symbol of status well into adulthood, how did an outsider pull off the win in the first place?
For a place so parochial that your high school is still an important symbol of status well into adulthood, how did an outsider pull off the win in the first place?
Posted on 9/27/20 at 4:56 pm to Walking the Earth
quote:
Was that Charbonnet person honestly so bad that NOLA took an import from California over her for mayor? For a place so parochial that your high school is still an important symbol of status well into adulthood, how did an outsider pull off the win in the first place?
This
This post was edited on 9/27/20 at 4:58 pm
Posted on 9/27/20 at 4:56 pm to ihometiger
She's a mother fricking hypocritical lying piece of mother fricking trash.
frick Destroya.
frick Destroya.
Posted on 9/27/20 at 4:56 pm to brewhan davey
quote:
What the hell are we still treating covid like it's deadlier than anything we've ever dealt with in history?
The short answer is because orange man bad
Posted on 9/27/20 at 5:11 pm to ihometiger
All part of the socialist’s plan.
Posted on 9/27/20 at 5:13 pm to ihometiger
Opening up in its place will be a government controlled coffee dispensary.
Page 1 of 21
Back to top
Follow TigerDroppings for LSU Football News