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Column: The PPP is letting our small restaurants and businesses die
Column: The PPP is letting our small restaurants and businesses die
The [Paycheck Protection Program] was supposed to save our small restaurants and businesses. But where's the money? --- The vast majority of the nation’s 30.2 million small businesses have been left flapping in the wind. Meanwhile, the rich get richer. […] Banks, naturally, will profit. Collecting fees ranging from 1% for loans over $2 million to 5% for loans under $350,000, they stand to make billions from the PPP. […] Andy Ricker, the owner and chef of Thai restaurant chain Pok Pok, wrote that his loan application was on hold and that he and other small business owners had been “snookered by publicly traded companies who received millions and left independent small business in the gutter as the well ran dry.” […] Glanville, like James, ticked off all of the boxes. He had an existing relationship with a major bank; he applied the morning the applications went live. If it’s this difficult for those experienced with the banking system, what about business owners without banking relationships or those who face language or cultural barriers? […] Restaurants, more than any other kind of small business in this country, are symbols of promise. They’re frequently opened by immigrants and first-time business owners, non-English speakers, and others simply wishing to feed others and provide for their own families. For many, restaurants and small businesses are the quintessential entrée into the dream of creating a life in America and standing on one’s own two feet. That dream is quickly dying, and our government has been particularly pitiless during this crisis. If we can bail out our bloated airlines, we can bail out our small restaurants. They need money, with few or no strings, and they need it fast. Otherwise, these beloved institutions that give our cities character and drive our economy will go away, and they won’t come back.
·latimes.com·
Column: The PPP is letting our small restaurants and businesses die
Brian Murphy: Life, Death, and Dinner (Journal of Beautiful Business)
Brian Murphy: Life, Death, and Dinner (Journal of Beautiful Business)
When our best impulses seem at odds with necessity. --- Thursday is shaping up to be a decent night. A bit slow, but decent numbers considering WHO has officially declared COVID-19 a pandemic. My sous chef informs me that El Gaucho Steakhouse downtown has closed and laid everyone off. This strikes me as a wildly premature move, although given that they’re so dependent on tourists and client lunches, they wouldn’t have much business now anyhow. Nostrana, my restaurant, is in Southeast Portland, a world away from downtown. Our people are locals, families, regulars.
·journalofbeautifulbusiness.com·
Brian Murphy: Life, Death, and Dinner (Journal of Beautiful Business)
Meghan McCarron: As Restaurants Go, So Goes Everything Else (Eater)
Meghan McCarron: As Restaurants Go, So Goes Everything Else (Eater)
To fight the pandemic, restaurants are shuttering across America with no aid in sight. What will happen to the rest of us? --- The boldest action on the parts of government includes eviction bans and more funding for paid sick leave and relaxed liquor regulations. What do these regulations offer an undocumented dishwasher who just got laid off, beyond the hope that his landlord might not demand four months’ back rent in due time? What do they offer business owners trying to keep their employees employed, beyond hope for a fraction of the revenue needed to pay for rent, supplies, and staff? Restaurants are suffering from this pandemic because they’re the center of communal life in America, but the awful cascade of consequences lays bare how broken American life has become. American restaurant culture is a glorious public-works project, like a train station or a bridge, built during more prosperous times; its rusting supports and cracked concrete would have been tough but possible to fix oh, any time, for decades. But no one did. And now, the earthquake has come. Without major and unprecedented government intervention and responsible community support, independent food culture could go the way of the neighborhood pharmacy and department store in the wake of this pandemic. In high-rent neighborhoods in American cities, the transition is already underway, with high-rent blight stuffing neighborhoods with chains, fancy and otherwise. And as restaurants go, so will independent stores of all kinds, whether it’s repair shops or clothing stores or bookstores like the one I worked in, which are now struggling to survive and temporarily laying off staff. Any retail that’s not a grocery store is in serious danger. In the aftermath of the Great Shuttering, without help, the only operators with capital to reopen will be the same massive corporations whose irresponsible treatment of their workers is threatening to worsen the outbreak.
·eater.com·
Meghan McCarron: As Restaurants Go, So Goes Everything Else (Eater)
Michael Russell: Coronavirus in Oregon: Eem, Hat Yai among latest Portland restaurants and bars to switch to takeout and delivery-only model (Oregon Live)
Michael Russell: Coronavirus in Oregon: Eem, Hat Yai among latest Portland restaurants and bars to switch to takeout and delivery-only model (Oregon Live)
Restaurants and bars that closed or switched to takeout-only service in the Portland area over concerns from the novel coronavirus, COVID-19.
·oregonlive.com·
Michael Russell: Coronavirus in Oregon: Eem, Hat Yai among latest Portland restaurants and bars to switch to takeout and delivery-only model (Oregon Live)