It Begins – Cheesecake Factory Tells Landlords Nationwide They Will Not Pay Rent April 1st…

Think about this… How weak and tenuous does a corporate financial position need to be such that being closed for one week means informing all nationwide landlords of your inability to pay the rent next week?   Consider this example:

CALIFORNIA – The Cheesecake Factory, one of the most popular sit-down restaurant chains in the country, says it will not be able to make upcoming rent payments for any of its storefronts on April 1 because of significant loss of income due to the coronavirus crisis.

[…]  Company chairman and CEO David Overton writes, “Due to these extraordinary events, I am asking for your patience, and frankly, your help.” He continues, “we appreciate our landlords’ understanding given the exigency of the current situation.” The letter says that the company hopes to resume paying rent as soon as possible.

[…]  The Cheesecake Factory was founded in Beverly Hills in 1972 and maintains its original location on Beverly Drive, with 39 locations in California. In total, it operates 294 restaurants in 39 states, plus the District of Columbia, Puerto Rico, and Toronto, Canada. In 2019, the company also acquired Phoenix-based Fox Restaurants, including North Italia, Flower Child, and The Henry. Most of the company’s landlords are malls, including Simon and Westfield.  (read more)

This is one small example; however, it is an opportunity to imagine the beginning of a process were Blue team corporations start to tell Red team financiers they are refusing to pay their debts.

.

Expand the mindset to individuals… dependent democrats (blue team), and social justice activists, assemble to tell landlords (red team) they will not pay the rent.  It’s going to take off like wildfire.

Can you imagine the size of the smile on Bernie Sanders face if this level of social turmoil were to begin on a national scale?

Think about it…. Very carefully.

The blue team tells auto-lenders we won’t make the car payment etc.  It is a social upheaval that starts small, most dismiss it, but it spreads through the “social justice” and “resistance” community just like the coronavirus itself.

Bernie/AOC cheer the new shift and empowerment “of the people”…

See where this has the potential to go?  The Democrat Socialists align perfectly with Antifa, Occupy Wall Street and the various “dream defender” groups.  You think the yellow vest uprisings were significant….

Perhaps we are about to find out what COVID-19 is all about.

We keep watching.

This entry was posted in Antifa, Bernie Sanders, Big Government, Big Stupid Government, Coronavirus, Cultural Marxism, Dem Hypocrisy, Economy, Election 2020, Fabian Socialists - Modern Progressives, Legislation, media bias, President Trump, Professional Idiots, propaganda, Socialist, Taxes, Typical Prog Behavior, Uncategorized, US Treasury, USA. Bookmark the permalink.

367 Responses to It Begins – Cheesecake Factory Tells Landlords Nationwide They Will Not Pay Rent April 1st…

  1. TheAbidingDude says:

    The government ordered them to shut down. They CANNOT do business at all. And restaurants are a cash-flow business sector. No money in, they ain’t going to be able to cover their accounts payable.

    Remember, this also hit when quarterly and annual taxes are due. And the gubmint (at all levels) isn’t going to let them off THAT hook.

    Maybe what we need to do is have a bill holiday. Government pays to have lights/telecom on, rents on hold, mortgages on hold, recurring bills on hold, no interest accrues, and everything gets adjusted and settled after the all-clear sounds. And we just pretend this month didn’t happen.

    Liked by 2 people

    • sundance says:

      They wrote the letter on March 18th.

      Liked by 6 people

      • BigTalkers says:

        Then perhaps Cheesecake was headed toward the exit anyway, and this was a convenient excuse..?

        Liked by 10 people

        • John-Y128 says:

          or just the straw that broke the camel’s back.

          Liked by 1 person

          • bayouwh0 says:

            Then their camel was sick to start with. Only the strong will survive this, capitalism at work.

            Liked by 1 person

            • Ray Bergman says:

              Be careful here people. Many restaurants were seeing less customers many weeks ago as the media drove the country into panic. My step sons restaurant’s both out of business…..Done. No mistake the government imposting these restrictions is causing this.

              Liked by 1 person

              • willthesuevi says:

                Yep. When people realize how much of this crap was a manufactured crises, and when they realize that common sense was in more short supply than hosp masks, there will be a backlash never before seen.

                Like

          • Les D says:

            I hope they are included in the China19 Relief legislation. If we can bail out JFK Performing Arts for umpteen mil’s, we must bail out this boutique. We can’t do w/out either.

            Like

        • Bendix says:

          Or major corporations have “their” legislators on speed dial, and these sorts of edicts do not take place without their approval?

          Like

      • TheAbidingDude says:

        OK, so it showed that someone in their accounting department looked at the numbers that they could anticipate from the second half of the month getting clobbered, and hoisted signal flags OSCAR and SIERRA.

        Liked by 2 people

      • Fubar n Wass says:

        Bay Area California went into lock-down on March 17th. The Governor expanded shortly to rest of state.

        Liked by 1 person

        • Rowdyone says:

          The governor of California, Gavin Newsome, just announced that the major mortgage lending banks in the state have agreed to suspend mortgage payments for three months but lenders must apply and prove their damages resulting from the pandemic chaos. Too me, it’s the least they can do since it was the American taxpayer who financed their bailout in 2008. And, IMHO, it would be appropriate for similar debt deferral to all borrowers for the same reason. After all, most everyone ultimately owes banks for one thing or another.

          Like

      • YeahYouRight says:

        FTV Chairman was on Tucker tonight discussing this exact concern.

        Businesses were let off the hook on 1Q taxes already, so paying rent shouldn’t be that difficult, given that they closed halfway through March.

        The convenient excuse is this leftist chinavirus panic.

        Liked by 1 person

      • David says:

        Cheesecake is not thinking they are blue, red or purple. Restaurants are very dependent on cash flow and without cash flow, they are out of business. You will see lots of restaurants go bankrupt – most will be small mom and pop restaurants, but the economic dislocation that this complete shutdown of the economy is having on small businesses will be devastating. Too bad all you can think about is red and blue.

        Liked by 2 people

        • John-Y128 says:

          No we thinking, just deserts, poor business model.

          Liked by 1 person

          • David says:

            Oh sure, the business model is poor. – always the cliche/excuse of the ill informed. It’s not everyday the government orders a cash flow dependent business to shut their doors for an indefinite amount of time and then wish them luck. You will find at the end of this, a massive dislocation in the restaurant industry, especially the moms and pops. Small businesses depend on cash flow to pay bills. This is nothing new.

            Liked by 6 people

          • You obviously do no understand small business as many of them go ( paycheck.to paycheck.) week to week as do working people.
            I would imagine a whole lot of people laid of will have trouble paying their rent also.
            So many believe small business have large capital reserves.

            Been in the business and I believe 15 to 20 percent can ‘ t survive a 2 week layoff unless some type of massive help.

            Liked by 5 people

      • PNWLifer says:

        Have connections to a local Cheesecake Factory. It pulls in between $20-$50K a day. That is one location. Are they also going to not pay next month’s lease payments on all the BMW’s their restaurant general Managers drive?

        Liked by 5 people

        • James says:

          The White House
          @WhiteHouse
          ·
          7h
          Small business retention loans will be immediately available to qualifying employers who keep their workers on payroll.

          Liked by 2 people

        • icthematrix says:

          Have you ever managed or run a business? Seriously doubt it. Restaurants all carry significant debt loads for capital investment (all the expensive kitchen equipment, plus the furniture, lighting, etc.). Upfront investment is pricey. Then you have the costs for personnel, food supply and multiple other monthly expenses. Very good restaurants can bring in significant revenue, but profit margins dictate net profit. As previous poster said, very dependent on that revenue stream to survive.

          Shut down any business for months and you will kill it. Dims real motivation for choking the economy’s oxygen supply is to weaken it and kill off our President while supposedly killing off the virus. Convenient excuse for evil action.

          Liked by 7 people

          • georgehumphries9802 says:

            My local McDonald’s franchisee pays 16% off the top (gross sales) to the McDonald’s corporation. How about the corporation tells the franchisee that there will be a “franchise fee holiday” for two months?

            Liked by 3 people

            • Diane Smith says:

              I am a lawyer who represents franchisors, almost exclusively. Most franchisors are waiving fees to a large extent, if not entirely. There are franchisors who lease the premises to franchisees, and many of them are waiving rent. There is not one sector of our economy that is not going to suffer.

              Liked by 4 people

          • John Good says:

            Back in the mid 70’s, when I was apprenticing in a now dead trade sign-painting, my boss Ken Henry told me that restaurants & political signs were always COD! Restaurants were always opening up & closing down in Canada back then & IF the candidate lost the Election, they were not going to pay for their election signs! I don’t think times have changed much since then, although people are a lot more rude now & scared, especially Socialists & Democrats!

            I knew the writing was on the wall, when during the mid 80’s, Popular Mechanics magazine had a full page ad from Gerber Scientific (developer of the Signmaker), with a photo of a woman in front of a rack with rolls of vinyl & the headline “Now You Too Can Make Signs in Your Basement”!

            And yes I was in business from 79′ to 91′, survived the 82′ recession but finally shut it down after the 89′ recession, when the normal busy season that hit in the spring, did not happen.

            Like

            • John Good says:

              Oh, and I forgot to add that Donald J. Trump was a mentor & role model of mine back then & look where he is now!

              That’s why I am Donald J. Trump’s “yugest supporter in Canada”!

              Liked by 1 person

    • BigTalkers says:

      Good point. When the local, state and federal Govts’ coffers near empty, there will be a remarkable reawakening on their part.

      Liked by 1 person

    • bertdilbert says:

      March is typically the slowest month because people have to pay taxes in April.

      Liked by 2 people

      • Mojo56 says:

        I own a small sports bar & grill. March is my busiest month with St. Patrick’s Day, March Madness and Opening Day of MLB. Throw in the fact that our anniversary is in the beginning of April and it’s literally our busiest time of the year. Thank God our mortgage holder agreed to put 3 months payments and the end of our loan. If not for for that I would have to dip into personal saving to keep the business afloat and that would get depleted rapidly. We really need to get back to work and quit cowering in fear.

        Liked by 1 person

    • Judith says:

      Both personal and business income taxes, plus estimated taxes have been deferred at least three months. In some cases sales payments have been deferred, as well.

      Liked by 2 people

    • Cathy M. says:

      Which govt. shut them down nationwide? Restaurants weren’t ordered to completely shut down in my state. They can still provide drive thru and/or carry out, including carry out & dine out on the patio (if they have one). Sure that lowers the cash flow.
      but
      Cheesecake must be hanging on by their teeth if they didn’t save for a rainy day. They should have enough $$ to pay at least part of their rent.

      Federal income tax isn’t due until July 15th.
      https://www.irs.gov/newsroom/tax-day-now-july-15-treasury-irs-extend-filing-deadline-and-federal-tax-payments-regardless-of-amount-owed
      And

      Liked by 1 person

      • A nephew runs a very busy, very successful restaurant/bar in DC, when we visited with them last week he explained that it would cost him more to stay open as a carry out venue than it would to shut down, too many expenses to stay open, many I would never have even thought of. He has been busy canceling ice deliveries, food, grocery and liquor deliveries, several cable contracts, the company which cleans out the beer lines, and on and on.

        He and his family will have to find another way to meet the ongoing expenses which cannot be changed.

        Liked by 6 people

        • David says:

          Well, Sundance seems to think your nephew must be blue and trying to skip out on his bills. Unbelievable.

          Like

          • cheering4america says:

            Unfortunately, they are as blue as blue can be.

            He is originally from GB, said he would have voted “Remain,” and believes that we are all going to have to come to grips with being one big global country eventually, he seems to think he is superior for looking at us as a kind of “mankind,” rather than as “Americans.” He seemed to be promoting the end of America as a Constitutional Republic and as an independent nation, and the conversation has bothered me ever since. I read daily about these crazy beliefs, but to run into it up close and personal, and to this extent, blew my mind.

            Liked by 1 person

      • Mojo56 says:

        Cheesecake Factory also has items in retail (Costco, grocery stores). I wonder if that revenue is separate from the on site restaurant revenue?

        Liked by 1 person

    • Bill says:

      Abiding dude,

      The excuse of them being a cash business and it being during taxes due season doesn’t cut it for a company like CCF. First off they are a massive chain. They don’t float day to day buy the revenue that comes in. I mean they do in a story by store basis. But the Corp offices most certainly make profits and they most likely have retained earnings.

      Also, companies pay what are called estimated quarterly taxes. Meaning as long as their accounting departments aren’t inept, their taxes are paid. Sales and Income. For a company as large as theirs, they shouldn’t be missing the very first month of rent payments due during this crisis. Their employees are wage outside of management. So they are saving money by not paying wages. And they still sell take out so some revenue is coming in.

      This would be more acceptable if this was a one off store that wasn’t a nationwide chain. Doesn’t pass the smell test for CCF to be pulling this stunt. If it was to pay ALL their employees then it would be somewhat admirable. It I’m certain they aren’t paying their wage workers any compensation during the days they are closed.

      Just my opinion as a CPA with many small business clients.

      I will say that it doesn’t surprise me. What a perfect situation for companies of all shapes and sizes to find reasons not to pay debts for a period of time. Who can blame them? As kids like to say, everyone else was doing it!!!

      Liked by 4 people

      • Fubar N Wass says:

        Cheesecake has sent a WARN Act notice to local governments that they are laying off employees.

        Like

      • ms doodlebug says:

        Sounds like a blackmail scheme. Wouldn’t they have to show a need for federal (taxpayer) funds? If they can’t even pay the rent on their locations…how sad that thousands of employees would lose their jobs…if CCF doesn’t get a cash infusion of some of that 2 trillion dollars (or whatever it ends up being). Yeah, the government can’t let that happen.

        Like

      • Pelayo says:

        Also makes me wonder why they are not tapping bank lines. Most companies this large have committed lines of credit where the bank cannot say no to a borrowing request unless the bank has already invoked the material adverse impact clause. I would be very surprised if the bank regulators would look kindly on banks doing just that and accelerating loans.

        Liked by 1 person

        • TheAbidingDude says:

          “Also makes me wonder why they are not tapping bank lines.”

          Because that is a very last resort. Generally, if you’re doing it, that means you’re going under anyway, you’re just going to have a bigger pile of unsecured debt on the bankruptcy filing.

          Liked by 1 person

    • Jan Pauliny-Toth says:

      It sounds odd to me.
      I run a company in Bavaria.
      It took two emails to defer my mortgage payments for 6 months, and one pdf to be filled out online, then printed and scanned to email it to the apposite ministry to receive 5000€ liquidity subsidy. Not a loan.
      Also the Federal Government will give more, if required.
      Surely the US bill passing now does the same, or similar?
      If I owned those buildings, I would consider dumping their invrntory on the pavement.

      Liked by 3 people

      • Bavaria ,as in Germany, and you are assuming the help American businesses will get .
        As Joe says come on man.
        I am sorry if I appear agitated at peoples responses today ,I have commented for years and avoided confrontations but this is ridiculous.
        I live on the edge many years saved a little for later but live many years paycheck to paycheck in the restaurant business.
        I can tell you 10 to 15 % are on the edge of business failure in the best of times, they can not withstand this uncertainty.

        Like

  2. All Too Much says:

    Senate voting on cover package right now.
    Need 60 to pass.

    https://www.c-span.org/video/?470652-1/senate-voting-economic-stimulus-bill&live=

    Like

  3. David says:

    It’s actually a smart business move. They’ll need the cash on hand to restart the business once the closures end. With no way of knowing when the lockdown ends they can’t plan expenditures. They’re not financially healthy anyway so I suspect they’re planning chapter 11.

    Like

    • buanadha says:

      This is a point I’ve been trying to make to people. The open ended shut downs are the worst thing a business can have. No metrics on when things can open up. A lot of businesses can handle a longer outage, but if it’s one thing to know you have to hold on 8 weeks, it’s quite another to have NO IDEA how long you have to hold out

      Liked by 6 people

  4. COlibertybelle says:

    Well, it has started in Colorado – our evil dim governor just shut the state down – “shelter in place” till 4/11. Now for us the s**t is getting real. We’ll see what happens in Denver, the Springs, and other progressive ratholes when people get tired of being imprisoned in their homes in this state. God help us.

    Liked by 4 people

    • Shelby Thomas says:

      Uh we aren’t a progress rat hole just yet in COS.

      Liked by 2 people

    • willthesuevi says:

      After 125 years of my family history in this state, I always held out hope it would cycle back to western common sense.

      The day Google moved in was the beginning of the end for decades to come.

      I cannot tell you how I despise the progressive left and what they have done to the Rocky Mountain States.

      Like

  5. James Carpenter aka "Felix" says:

    Of course the Blue team is and will pull out every stop they can to collapse civil, Constitutional America, that is a given.
    There are additional givens.
    Among those are principles such as “battles are won or lost before they are fought”.
    and
    In a cat-fight brawl to win the high ground, “be there the firstest with the mostest.”

    Keep cool, plan and execute. Keep healthy, maintain provisions as practicable, network with like minds, practice skills.
    Resources, preparedness and flexibility will be powerful, whatever degree of madness we encounter.
    Oh. And find at least a moment or two to enjoy each day. They are all precious, smile at the morning sun even if it is obscured by clouds. You know where it is. One never knows for sure what follows when lacing boots after rolling out of the rack.

    Liked by 10 people

  6. Right to reply says:

    Very simple response. If you cannot cope with a weeks closure. You have no business being in business.

    Does anyone have the profit/loss sheet on this company for last year?

    Liked by 5 people

    • Magabear says:

      I think maybe the point here is that it isn’t necessarily the business or individuals actual inability to pay their rent, but that they now have a built in excuse for not doing so. Cheesecake Factory may be in that weak of a financial situation, but others may just cry poor in order to get bailout money.

      Liked by 2 people

      • Judith says:

        They also have the *uncertainty* of not knowing if the closure will last 15 days, 15 weeks or longer than that. How can a business plan to remain closed for an indefinite period of time? No revenues means no expenditures.

        Liked by 2 people

    • ryan 32 says:

      I’ve been a Server at the CCF for 9 years and I know what they’re up to. Last year they took in 1.7 billion dollars and made a clean profit of 87 million. Sundance is right on point with this article.. I can tell you stories about CCF that you wouldn’t believe. David Overton (Worth 89 million, personally) my CEO just loved Obama’s TPP idea because he’s a greedy little pig. We were told on Monday to go on unemployment and we could get a free meal. Employees got nothing and for last two weeks we were working it was beyond bad. CCF is in the process of building 4 new restaurants but he’s got no money to pay rent. Getting unemployment in Florida is a joke. The Site is a mess and has been the last 5 years, Rick Scott really did a number with that one.

      Liked by 2 people

    • David says:

      Well, if that is the case, then there will be millions unemployed. The ignorance shown here concerning businesses and their cash flow is astoundingly ignorant. The government has forced them to close for an indefinite time. Do you understand the implications of that, particularly to small businesses? Do you understand many small businesses will go bankrupt in the next few weeks? You sound like Hillary Clinton complaining that she is not responsible for a business’ capitalization, or something to that effect.

      The odds are we are in a deep recession already. America is closed. No dentists are open, shopping malls are closed which will further hasten retail companies going out of businesses. Restaurants are closed doing only minimal takeout business with the exception of fast food. The travel industry is completely on oxygen and the suppliers for all of theses businesses are in suspended animation and there are a bunch of folks trying to say this is just blue trying to get back at red. Wow.

      Like

      • David, I believe that most of the readers of this site completely understand your points here and above. Most of us are very business friendly…

        I think the point is that there are some businesses that are owned & operated by people who politically lean very strongly left – hence “team blue.”

        Given the experiences we’ve witnessed over (at least) the past three years, it’s not hard to believe that there are people that would be very willing to exploit the current situation, in order to help team blue win the upcoming presidential election.

        Their actions could be the striking of a match…

        Liked by 1 person

    • TheAbidingDude says:

      “If you cannot cope with a weeks closure.”

      What if you cannot cope with the prospect of the government forcing you to shut down indefinitely without warning?

      Like

  7. Mike Robinson says:

    🙄 … “I detect an excuse.”

    (How do I say this nicely …?) First of all, if you’re gonna call yourself a “Cheesecake Factory,” then you’d better have the world’s most incredible cheesecake – which, frankly, you don’t. (Not by a long shot, IMHO.) Then, you’d better have an amazing set of non-cake offerings to satisfy the hordes of people who ostensibly came to you for dinner in pursuit of your fabulous desserts.

    Nope … I really don’t think that you can blame your flawed concept and subsequent lackadaisical execution on a virus. Nice try. (“Buh-bye!”)

    Liked by 5 people

    • Debra says:

      I went to this establishment once.

      I was so utterly turned off by the huge selection of entrees.

      If anyone has ever watched ‘Restaurant Impossible’ the host is forever telling owners that a huge menu is a big no-no, for a couple of reasons: 1) it is a turn off to customers(!), and 2) it requires waaay to much inventory.

      Liked by 4 people

      • madeline says:

        We just ate at the West Palm Beach FL CCF in February. The food and service was horrible. Additionally, the place was empty. Sometimes restaurants just begin to take short cuts and people leave a never come back. We put CCF on our no go list after February.

        Like

      • There are many restaurant concepts out there which leave me wondering why anyone thought of it and why anyone thought it would be successful. This is one of them. 🤷‍♂️

        It’s just like the various “yuppie grocery stores” where I couldn’t go there and “shop for a week’s groceries.” But I could go there to get all the kale casserole I could eat – which by the way is “none.” 🤮

        Liked by 1 person

  8. Mountainstandardtime says:

    Doesn’t POTUS already have the National Guard in some of these blue states?

    They will have a hard time protesting if their governors/mayors have closed their cities.

    The National Guard will have to go in and end it.

    I don’t see how POTUS let’s that go on.

    Liked by 1 person

  9. theoldzombie says:

    “Expand the mindset to individuals… dependent democrats (blue team), and social justice activists, assemble to tell landlords (red team) they will not pay the rent. It’s going to take off like wildfire.”

    This has already started to happen. I saw a post on reddit from a landowner who said his 32 tenants are refusing to pay rent until the crisis has passed. That rent besides being used for the upkeep of the building is also his source of income.

    And with courts closed, and evictions being stopped he has no recourse.

    Liked by 3 people

    • Jan Pauliny-Toth says:

      Sabotage the heating, and say you can not fix it due to lack of income…no courts? Well there you are!
      Ssme with power, water. Block the sanitation, let it flow into the appartments.

      Like

  10. Magabear says:

    Looks like the demonrats had this whole thing planned out some time ago. They’ll keep their states shutdown for as long as possible in order to ruin PDJT’s economy and grab the free bailout money at the same time.

    Some legal organization needs to go for a nationwide injunction to stop what is being done here. And that’s if they can even go for such an injunction.

    Liked by 3 people

    • Judith says:

      Maybe the President should veto this bill and reopen our country for business, instead. Governors who fail to comply will have to answer to irate constituents.

      Like

  11. Drogers says:

    God, in his infinite wisdom, knew the exact right person to place at the head of our country.

    President Trump can do the job as long as we faithful continue to cover his six.

    *a nation prays for you Mr. President

    Liked by 11 people

  12. Harvey Lipschitz says:

    The landlord can’t get another tenant.

    I had a lease in a huge bank tower owned and run by one of the 3 largest banks. It had clauses to protect me and their breech would be laying off janitors. Under the law, courthouse is closed and lawyers can’t go to work.

    Like

  13. bulwarker says:

    It’s already happening with smalltime landlords:
    PLEASE HELP. My tenants organized and are saying they won’t pay rent this month. ALL OF THEM. What can I do?

    Liked by 3 people

  14. So the crash in property values.

    Like

  15. Still keeping my pitchfork on ice………..For now

    Like

  16. Ploni says:

    Socialism has nothing to do with money, economics, or finances.

    It’s about power.

    It’s about one group in a society trying to grab power from another group that currently has it.

    And the quickest, easiest way to grab it is to pander to the one greatest grievance-resentment lurking in the hearts of millions:

    “Why does he have more wealth than me?!”

    Liked by 1 person

  17. Harvey Lipschitz says:

    2 comments I have not seen. Malls are dying and Cheesecake will do bankruptcy to dump any and all stagnant locations. Leave the malls.
    2b Mall leases are low per square foot and charge a percent of sales. Even before closing, rents were down plus empty stores everywhere. Which means malls paid real estate taxes on empty space.

    2 Tyrant Governors are making this worse. Bad deal. Now watch Governors will see small companies stop sending in payroll tax deposits. Stop sending in sales tax.States are sending workers home and are sending paychecks.

    Many will not make sales and payroll tax deposits on time and both will be lower.

    Abbott and a few Governors are sharp.He knows Houston Mayor can shutdown and damage the State budget.

    Liked by 2 people

  18. Child of Morning says:

    Go get your rent from the governor. It was his / her call.

    Liked by 1 person

  19. Mike in a Truck says:

    Never ate at the cheesy factory. Dont like places with trendy names.Food is usually lousy and the service more so.Sounds like a place Deplorables should boycott.

    Liked by 4 people

  20. Might this be why Pelosi is hell-bent on delaying stimulus (?), the logic being that the more dominoes that fall, the harder it will be to pick them all up again, e.g. if mall tenants can’t pay their rent, mall operators will default, then banks, and on and on. Redux 1929?
    Back then Roosevelt called it the New Deal. Could this be a set-up for putting the Green New Deal into action?
    Could Dems be that ingenious? No!. But just think: they are just contract workers of Communism International Inc which, through its public relations firm, Communist Media USA, identifies and supports future officeholders; identifies and funds Deep State Inc, a worldwide federation of left-wing, anti-American professionals, academics and clandestine intelligence operatives buried deep inside world government bureaucracies and major international organizations.
    Can anyone tell me if there is an analogous organization dedicated to stopping and thwarting these enemies of the United States? I thought not! It’s just the President and us! That’s it!!
    Nancy and Chuck will be told via handlers when to deal and when to fold regarding the stimulus package. Communism International Inc will handle the analysis and the decision-making!
    My guess is this package will be held up to inflict maximum damage on the Nation and on Donald Trump.
    Is this the last episode of Roadrunner where Wile E. Coyote finally finishes off his nemesis?

    Liked by 1 person

  21. patti says:

    AOC is doing her part…

    Like

    • Bendix says:

      If you were working paycheck to paycheck, as so many Americans are, deferring your bills for a month just means next month you will owe two months worth of bills on a paycheck that barely covers one month.

      Like

  22. bkrg2 says:

    I was just having a similar conversation with a friend about something similar.

    What is happening with illegal aliens across many businesses. Think of maids, dishwashers, etc. These people are getting no income and no “stimulus” funds. If you are landlord or car loan agent – good luck getting your rent or payments. (Although I have no sympathy for businesses loaning to illegals – you reap what you sow)

    Anyway, the ripple effect is exactly what Sundance is spelling out. How many people will take advantage of this situation to skip loan payments, rent/mortgage, utilities, doctor bills… This is the second wave of economic tsunami that is coming next.

    Like

    • Are we sure that illegal aliens are not receiving any assistance? I would be surprised if that were the case, they benefit from so many other programs to which they never contributed.

      Like

    • 1stgoblyn says:

      Not to worry, they will be getting stimulus money. If they have a SSN (and if they are working at a legal business they must have one) and they filed taxes for 2018, they will get a check.

      Like

  23. cheryl says:

    For those who live paycheck to paycheck, can they tell their landlords they’re not paying next month’s rent too?

    Like

    • The disease is covid 19 .
      The Epidemic is TDS.
      Was it politicized by Media and Dems? Yes
      Is P Trump fight back ,but also politicizing it ,? Yes
      Are the Democrat Governors and Mayors destroying our economy because of the disease ,? No
      Because of the Epidemic ,Yes

      I hate to sound like I am bragging, I am not, I switched my assets out of the stock market the day after the impeachment.I knew there would e a new ” crises” and low and behold the very next day the reliable deep state mouthpieces at the NYT started with the corona virus, yes the disease is real ,no the epidemic is just another BS manufactured Crises and we will add that to our list.

      What is badis I lived in a State Virginia, which had some sense before becoming the newest Soviet Satellite .

      Liked by 3 people

  24. Newhere says:

    A terrifying dynamic — but a VAST assumption and over-simplification to say those paying rent/owing debt are Blue Team and those collecting it are Red Team. Many Blue Team professionals and boomers manage to fill gaps with rental income. If the dems push and cheer this sort of anarchy, a lot of its own will be switching “teams.”

    Liked by 1 person

  25. Newhere says:

    Our Constitute does not allow the government to take private property (including profitable assets like a business, and including by business-crushing regulation) without PAYING JUST COMPENSATION.

    When the government smothers private economic activity, everyone is left trying to stay afloat. Of course it’s a problem that our economy runs so close to the margin. But that doesn’t change the fact that what’s going on is a large-scale 5th Amendment taking. The Constitution DOES allow the government to “take” private property for “public use” — and without even arguing whether this qualifies — the Constitution also requires that even when there’s a property Constitutional basis for a taking, there MUST BE JUST COMPENSATION to the private property owner.

    There is a large body of jurisprudence defining “property,” and defining the type/scope of government actions that constitute a “taking.” Forcing a business not to operate, thus eliminating its ability to raise revenue and generate profit, qualifies. Private citizens across our country are owed just compensation. A couple thousand dollars + a low-interest loan doesn’t cut it. Our government might not be so cavalier about destroying livelihoods if it ever actually feared having to follow the Constitution.

    Liked by 1 person

  26. Auwtsnae says:

    Our local Cheesecake Factory is in the a mall.

    The Governor ordered all shopping malls closed.

    Restaurants were only ordered to close their dining rooms.

    Take out orders are still allowed,.

    But, customers can’t get take out if they can’t access the mall.

    Should you be obligated to pay rent for space when the state orders the landlord, not you, to close?

    Like

  27. Unclezeb says:

    I posted a comment about this last week. As a landlord I expressed this very concern but from the economic pain it will cause to building owners. I was basically told I was heartless and had no consideration for the tenants. Just today I heard from one that told me ten t was cancelled nation wide. This could go bad in a hurry. Rental property market would go south an d take quite a while to recover.

    Liked by 2 people

    • icthematrix says:

      Yes the hand out public is quick to call you evil when all you did was invest money into a place that enabled them (by their choice) to have a place to call home. Shame on you (sarc).

      Hard times indeed. The multiplier effect of these shutdowns is enormous. Dims know this and are counting on it. I despise them with every fiber of my being.

      Like

    • Unclezeb, one poster asked a pretty good question.

      When these tenants are not paying any rent what are the landlords obligation as to repairs and upkeep etc ?

      If property owners have no money coming in they can not fix the heating, the air conditioning or the plumbing.

      I don’t know how many treepers here have any experience with renters but it seems like they are always calling about something they broke and they want it fixed immediately.

      Like

      • Let me add to my post that not all renters are jerks.

        Many are responsible and good to have as clients but there are a lot who really do not understand how much it costs to care for things.

        My own kids were amazed when they all bought their first houses and became responsible for the care and upkeep.

        We had tried to teach them about these things when they were growing up but there is nothing like the real world to make a lesson hit home.

        Liked by 2 people

  28. Red says:

    Damn, as an American born and raised in the South, I didn’t think I’d ever have to actually fight a war wearing a red coat!

    Liked by 1 person

  29. Auwtsnae says:

    They entered into a legally binding contract with the landlord.

    It wasn’t the landlord who ordered them to close.

    And it wasn’t the landlord who scared away customers.

    Unless the landlord interferes with their operation, they’re still obligated to pay their rent.

    Like

    • Bendix says:

      Yes, especially for a large entity like Cheesecake Factory. Pay the rent, and then pursue recouping from the body that caused you injury.
      Don’t reinvent law to suit yourself.

      Like

  30. kleen says:

    This pandemic will last several months. I think more than year.

    China is not back to normal yet despite drastic violent measures.

    There’s no way to contain this virus, ZERO! Impossible. It won’t happen.

    So, these “lockdown” are desperate TEMPORARY measures to avoid the collapse of our health care system. That’s it! That’s the only reason for it.

    Long term it won’t work. First week here in Dallas and we already had a spike of child abuse and domestic abuse.
    A month long lockdown may be ok, but at some point, 2, 4 months from now we will have to get back to normal. But that means the virus will come back and in one month be all over the world again.

    At that time the economy will be destroyed and we will have to stay home AGAIN.

    There’s no stopping this. The only hope is that we acquire immunity and long term this virus won’t spread due to most people being immune.

    Liked by 1 person

    • Jan Pauliny-Toth says:

      No quite, the other hopes are treatment for acute cases, and a generic vaccine.
      The first is imminent, 69 meds are being tested now, or plasma infusions from healed patients; the second, a vaccine however will take at least 4 months.

      Liked by 2 people

      • John Bosley says:

        ” Or plasma infusions from healed patients “.
        Soooooo, are we soon going to be vampires and suck these ” healed patients ” dry ?
        Best think that one over.

        Like

    • Skip says:

      For your peace of mind don’t live in the negative world.. Your body is not able to play the script without consequences… No Malice just a suggestion for your health…

      Like

      • Me says:

        Maybe these words should be included in the daily prayer that’s posted. Good to remember and recite to yourself when some nut job decides that they are the appointed “hall monitor” of social distancing.

        Like

  31. Frank says:

    I agree with Sundance’s perspective. The globalists are trying to lock-down everything for political gain and to preserve their grip on political power.

    The globalists are hoping that they can create enough suffering to motivate the herd to beg for things to go back to how it was before Trump, but I think Trump and his people can spin this the other way. All they need to do is point out who is driving this national shutdown. Keep those red states and red municipalities open! Then just shine a little sunlight on the whole situation and ask, “Who did this to you, America?” And it will be obvious that it’s the democrats. They’re the only ones deliberately trying to tear down our great nation. It’s them. Now let’s get rid of them so the rest of us can move forward.

    That’s all it will take to turn this ugly scheme around. Sunlight and plain, direct language.

    Liked by 1 person

  32. Amy1212 says:

    Most businesses are finding out that the Force Majeure lease provisions will NOT cover closure due to the Chinese virus. Impossibility of performance was litigated in the Swine Flu era and was not successful. Insurance policies won’t cover losses either unless a specific Rider includes pandemics. Most restaurants don’t have large profit margins so it does not surprise me this is happening. Bankruptcy, either reorganization or total is next. I’m working with restaurant and hotel owners as well as other businesses. Cheesecake is not the only one, it just did it the most vocally.

    Liked by 3 people

    • starfcker says:

      Another thing people don’t realize is that grifters like Uber Eats charge restaurants 20%. Most restaurants don’t have margins over 35% in my experience. So take out business right now for most restaurants is a bullshi#t hope. Having Cheesecake Factory skip rent for a month or two is nothing to a commercial landlord. The alternative of an empty building might break them. Cheesecake Factory has been an anchor in many places for decades.

      Liked by 2 people

    • Edward says:

      I wonder if swine flu era is different because this time there is so much more mandated government shut down orders.

      Liked by 1 person

  33. Midnight Rambler says:

    My open letter as a landlord: “Dear Cheesecake Factory, you will pay your rent as scheduled or you can get your shit off my property, thank you”.

    Like

    • starfcker says:

      That’s why you will never be a landlord. Kick out a tenant that pays the rent every month for decades. Have an empty building. Have the expensive renovating it to attract another client. Consider working in a toll booth. You’ll have a better chance of feeding your family

      Liked by 3 people

  34. They are just protecting their cash knowing landlords will be in a bind. They will work it out later and probably negotiate a discount on past due rents. They have the landlord by the gonads.

    Liked by 1 person

  35. While Sundance is correct about the ramifications that are about to unfold, but the banks deserve every bit of pain they are about to receive. Jamie Dimon and all these swindlers should have been hanging from lamp post back in 2007-2008, instead they were allowed to cash in on the bail out.

    After last bail out, JP Morgan Chase, Wells, Fargo, BofA, etc all cashed in. They also ran a program named HAMP which was supposed to allow underwater homeowners to restructure the mortgages. The bank received around $3500 for each modification application they received. Whether the was loan modified or denied modification it didn’t matter, they still received $3500. When my mother applied the bank gave her the run around from day one, they lost her documents regularly, several times they had a deal then the deal fell through and bank people lied to her. That went of for 2 to 2 1/2 years until the foreclosed on her and sold the house for 40K. My mother, like 70% of those who applied to HAMP got the run around while the banks cashed in.

    I applied for HAMP as well. Same thing happened to me, JP Morgan Chase was dumping notices at my door, and inside the packet was HAMP application. I got nothing but the run around. Finally one day I was talking to the Guy (I think he name was Mark) at JPM, I think I told him I just needed 60-90 days to get caught up, he tells me he’ll be right back, he comes back and tells me I am denied. Then he say’s I am sick of this shit! He asks me, Can you be caught up in 90 days? Yes. He says, F-k’em I am going to put a hold on the foreclosure, eliminate all the penalties you have racked up and you have 90days to get caught up. If you aren’t caught up in 90 days, you are f-ked.

    Heres a nice article on HAMP:
    https://theintercept.com/2015/12/28/obama-program-hurt-homeowners-and-helped-big-banks-now-its-dead/

    Liked by 4 people

    • Bendix says:

      My neighbor was having mortgage problems due to unemployment related to the crash. We mentioned some of the programs that were available, in case he was unaware. He did know about them but they weren’t really helpful.

      Like

  36. Governor Coonman Northrum says he knows how this will happen .They will take Virginia, lay it aside , resuscitate it ,if that is what they decide and then a discussion will take place of what they will do with it , whether it lives or dies.

    Like

  37. John17milw says:

    They read the bill. Loans for rent and payroll are forgivable if you stay in business and retain your employees. No brainer–business is smarter than Congress every time.

    Like

    • MitchSteel says:

      How are you going to retain your employees of they can get 1100 week for the next 4 months?
      Most of them have already been laid off, fired, furloughed…etc. 1100 a week is more than he median income of half the country…why would they want to go back to work for less?

      Liked by 1 person

  38. Elle says:

    The landlords of businesses are up a creek because the business rental market has already been completely destroyed. Regular landlords of homes have more leverage. If I was a landlord I’d call in my tenants and say some of you can afford to pay and some of you can not. I will work with you to help you stay, but anyone who does not pay I will begin eviction proceedings which are lengthy. Then it is not just the landlord who has something to lose by this game.

    But I guarantee you that the States will step in to thwart the landlords from having any power to even act fairly to protect their investments.

    It one for all and all for the State. It is clear to anyone paying attention that this is a concerted effort to bring down America.

    Liked by 1 person

    • Bendix says:

      It’s clear to me, Elle.
      The reason it’s a bit hard for some to grasp this, IMO, is that it is on so many fronts it is somewhat camouflaged.

      Like

  39. Elle says:

    The landlords of businesses are up a creek because the business rental market has already been completely destroyed. Regular landlords of homes have more leverage. If I was a landlord I’d call in my tenants and say some of you can afford to pay and some of you can not. I will work with you to help you stay, but anyone who does not pay I will begin eviction proceedings which are lengthy. Then it is not just the landlord who has something to lose by this game.

    But I guarantee you that the States will step in to thwart the landlords from having any power to even act fairly to protect their investments.

    It one for all and all for the State. It is clear to anyone paying attention that this is a concerted effort to bring down America.

    Like

  40. MitchSteel says:

    Thats fine, bust their credit scores. Credit has been king for 3 decades. You think the Banks give a slug nickle about charging you more for debt load or unwillingness to pay your debts?

    My wife and I have not gone on a vacation in 5 years. We put that money away and have enough cash on hand for both of us to sit at home for 3 months. My wife is a nurse and I am busy in petro chemical industry. So we are both still working.

    Liked by 2 people

  41. IGiveUp says:

    US has been intubated and is on a feeding tube. Nice work/

    Like

  42. I suspect some companies are taking advantage of the situation to hide some cutbacks that require violating employment contracts. I know of a recent example where a high fashion designer company has terminated all their workers. They did not lay them off. They terminated them. It is a subtle difference. All employees are going to be eligible for unemployment but the company is under no obligation to hire any of them back when this is over because they were terminated instead of being laid off. And the company is now under no obligation to hire employees back at the same rate of benefits and pay after the crisis. The case of the woman I know who was terminated? She’ll be fine. Twenty minutes after she posted on social media about her termination she was getting job offers from companies drowning in demand from the crisis. She is now in a pharmaceutical distribution company desperate for her skill set managing large scale shipping and distribution networks. In the end she will come out further ahead and likely never go back to high fashion. The majority of the other employees? Not so much. Maybe they can sue for unfair termination given the termination was likely illegal.

    Like

  43. Solution?

    Use the cure and open for business!

    Like

  44. Davenh says:

    Don’t know much about cheesecake factories business model. I’m far more sympathetic to the smaller businesses than the large corporate chains, seems like a national chain could absorb 1 months rent, however I can’t speak with authority on that. It’s interesting that Panty Fa was calling for a rent strike earlier this week. I wonder what if the corporate bigwigs at Cheesecake Factory are sympathetic to that movement. It seems like large corporations should have cash on hand, and if not at least available lines of credit. In an odd way I’m lucky in that my wife and I took out a home equity line of credit 3 months ago due to a recurring injury I’ve suffered the past 3 years. We’ve been dependent on dept. of labor/workmen’s comp to make up for my intermittent income. Typical governmental sclerotic response, I’ve had to wait months for payments. We took out that home eq. loc relunctently thank God we did. It has saved us and allows us to stay current with the bills. I guess my point is these businesses shoul have some sort of a line of credit to draw on

    Liked by 1 person

  45. Sundance; our business maintenance repair company, with 23 employees, is almost completely shut down & we have everyone on furlough, some with short hours & others with no hours for the last week. So far this week, no customer wire advices, for payment of submitted invoices, have been received in my email. By Thursday, we typically receive 2 & a 3rd on Fridays, with the occasional check from one-off clients.

    We are worried about paying our bills, too. We are a “red” business. And I’d presume all small businesses across this country are in the same situation.

    I don’t think the ramifications of the CoronaVirus pandemic discriminates. I see your point that Far Left Radicals use crises to pursue their political & economic goals.

    But they do not possess any special immunity from the ravages of the CoronaVirus; medically, politically or economically.

    And any of their attempts to benefit from this national & worldwide crisis will be met with disdain, resistance & revulsion!

    They will utterly fail in these endeavors, imho!

    Liked by 2 people

  46. farmerren says:

    Oh wow, Sundance sure hope you are wrong, you seldom are…yikes.

    My anecdotal experience causes me to wonder if Cheescake saw this as an opportunity to cut costs. Costs they had wanted to cut prior to the China virus outbreak.

    I was doing contract work for a very large company that began shutting down projects and laying off employees immediately following Sept. 11th, 2001.
    The dot com bubble-burst had already started at least a year earlier and I believe ‘my’ company saw it coming and took the opportunity when 9/11 happened. Blame 9/11, not their poor planning. (just my opinion)

    Like

  47. Bendix says:

    This may sound unrelated, but prior to Governor Cuomo’s signing of a plastic bag ban, I had heard from people in other states, that when they went into their local Walmart they noticed the reduced quality of the bags (smaller and thin) and large numbers of reusable bags on display. Almost as if they knew ahead of time what was coming.
    That’s because they did. The plastic bag ban relieved the major chains of a big cost of doing business, providing their customers with a bag to carry home the groceries in. Notice how these things often start on the coasts, and then the rest of the country follows suit.
    The way you know it isn’t really about the plastic is, they didn’t have to go back to the old way at all, paper. There is nothing environmentally unsound about the paper bags. The stores in New York have to collect a “fee” for the government, for customers who still want a bag.
    That’s a back-door tax. The chains will not complain about this, fo the sake of their customers, because it benefits them financially to go along with the fiction that a tax is a “fee” to encourage Americans to forgo a bag.
    This is tyranny along the lines of the Obamacare Individual Mandate.

    It’s also a health hazard, when you think of the fact that Walmart stores are full of shoppers from God only knows where, in God only knows what state of health, bringing in bags from who knows what sort of storage conditions they have.
    Rats and roaches are big problems in crowded urban housing for the poor.
    If some suburban women with time and money wants to bring her own reusable bags, good for her.
    I usually do myself.
    But to force Americans to take a great leap backward, imposing yet another chore on overworked citizenry, for faux environmental reasons.

    Like this major chain seems curiously prepared to use this disease as an excuse to stiff people.

    Liked by 1 person

  48. Deplorable_Vespucciland says:

    Let the Cheesecake Factory get a small business loan to cover the 4 months they’re closed. It’s in the $2Billion Emergency Relief Bill. They have no good reason to default on their rent payment.

    Like

  49. carterzest says:

    we should all order food for pickup, then show up and grab it and run without paying. You can’t pay your rent, I can’t pay for my dinner…

    Like

  50. Bendix says:

    I thought large corporations employed people called “risk managers”.

    Like

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