Mike Pence is Coronavirus czar, clearly not a Modello guy, and other politics discussion related to the virus

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Is Trump Taking Corona Seriously?

  • Yes!

    Votes: 14 20.0%
  • Nah, bro.

    Votes: 24 34.3%
  • Bah! Such Hand-Wringing Over Something No Worse Than the Flu!

    Votes: 4 5.7%
  • We Need to do a Lot More. Just in Case.

    Votes: 22 31.4%
  • Only the Blood of Virgins Will Shield Us From This Pestilence!

    Votes: 6 8.6%

  • Total voters
    70

The Wizard of Moz

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How is it nonsense. I keep giving you the perspective of a business owner without going into the specifics of our own business. You keep arguing against everything I say.

We sell printed apparel. Our sales generally grow year over year and we are constantly expanding.

Two weeks ago (today I think, this thing is such a blur), our sales were up 30% year over year and we were expanding products, expanding inventory, and hiring.

That night Trump declared a national emergency and said travel from Europe was banned. He included goods in the announcement, later changed that. Our ink comes from Europe, so we bought 2 months supply that night to make sure we don't run out. Including that ink, we have $400k of short term debt that gets paid for out of cash flow from sales.

The very next day our sales dropped 60% year over year. In 24 hours we went from up 30% and stocked for 2-3 months to down 60% with no end in sight. I don't know how long it's going to last, but I'm projecting until until end of July to budget what's left of our cash flow.

4 days ago DeWine issues a stay at home order for Ohio. Printing t-shirts to sell online isn't remotely essential, so he ordered us to shut down except for minimal operations to maintain equipment. We had to make the very difficult decision to lay off most of our staff.

It's the hardest thing I ever did as a business owner. I broke down when after I made that decision. I'm thrilled they are getting more unemployment. There isn't remotely enough revenue to pay the ones who aren't working.

If we just turn off our equipment, it could do $500k worth of damage, so there is a little bit of revenue coming in. But we have to actively sabotage our own sales, which is going to hurt us long term. We sell online, it's a flywheel, the more sales you make one day, the more you will make the next day because your search ranking grows.

By government order, we have to sabotage them more.

We desperately need a loan to survive so we can hire everyone back. And while we're dealing with this, we wake up to the reality that the few people we kept are now worse off financially than the ones we let go.

To be clear, I'm thrilled the ones laid off aren't worse off because they were laid off, but am highly stressed that the very few we kept would have been better off being laid off too. I've already had one employee tell me they resent it. So the answer suggested is to pay them more? :banghead:

Where is the money supposed to come from to pay them more. We don't even know if we're going to survive as a company. We don't have enough cash in the bank to pay the short term debt, that gets paid out of cash flow.

We applied for a SBA disaster relief loan the very first day Ohio was included in the states eligible. No progress has been made and the site to check the status has been down for the past 2 days. We have to operate on the assumption that the loan isn't happening anytime soon.

Thriving business that employed 40 people just two weeks ago is on the brink of disaster. People who have never run a business think the answers are easy.
Thanks for sharing this perspective it taught me a lot. I’m guilty of being in that last bucket where I’ve never run a business and tend to oversimplify things

I’m sorry to hear about your situation And I hope you get the support you need to continue your business that was thriving before this happened.
 

MediumBaller

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I like how Andrew Cuomo has handled this crisis and if i lived in New York I’d definitely listen to him. Just too bad he’s not running for President, I sincerely mean that.
I've seen some speculation Twitter that he'll end up as the 2020 nominee.
 

KI4MVP

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I like how Andrew Cuomo has handled this crisis and if i lived in New York I’d definitely listen to him. Just too bad he’s not running for President, I sincerely mean that.
I like watching is brother interview him

Chris: Thanks for being on the show again
Andrew: Mom made me do it

:chuckle:
 

Rich

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How is it nonsense. I keep giving you the perspective of a business owner without going into the specifics of our own business. You keep arguing against everything I say.

We sell printed apparel. Our sales generally grow year over year and we are constantly expanding.

Two weeks ago (today I think, this thing is such a blur), our sales were up 30% year over year and we were expanding products, expanding inventory, and hiring.

That night Trump declared a national emergency and said travel from Europe was banned. He included goods in the announcement, later changed that. Our ink comes from Europe, so we bought 2 months supply that night to make sure we don't run out. Including that ink, we have $400k of short term debt that gets paid for out of cash flow from sales.

The very next day our sales dropped 60% year over year. In 24 hours we went from up 30% and stocked for 2-3 months to down 60% with no end in sight. I don't know how long it's going to last, but I'm projecting until until end of July to budget what's left of our cash flow.

4 days ago DeWine issues a stay at home order for Ohio. Printing t-shirts to sell online isn't remotely essential, so he ordered us to shut down except for minimal operations to maintain equipment. We had to make the very difficult decision to lay off most of our staff.

It's the hardest thing I ever did as a business owner. I broke down when after I made that decision. I'm thrilled they are getting more unemployment. There isn't remotely enough revenue to pay the ones who aren't working.

If we just turn off our equipment, it could do $500k worth of damage, so there is a little bit of revenue coming in. But we have to actively sabotage our own sales, which is going to hurt us long term. We sell online, it's a flywheel, the more sales you make one day, the more you will make the next day because your search ranking grows.

By government order, we have to sabotage them more.

We desperately need a loan to survive so we can hire everyone back. And while we're dealing with this, we wake up to the reality that the few people we kept are now worse off financially than the ones we let go.

To be clear, I'm thrilled the ones laid off aren't worse off because they were laid off, but am highly stressed that the very few we kept would have been better off being laid off too. I've already had one employee tell me they resent it. So the answer suggested is to pay them more? :banghead:

Where is the money supposed to come from to pay them more. We don't even know if we're going to survive as a company. We don't have enough cash in the bank to pay the short term debt, that gets paid out of cash flow.

We applied for a SBA disaster relief loan the very first day Ohio was included in the states eligible. No progress has been made and the site to check the status has been down for the past 2 days. We have to operate on the assumption that the loan isn't happening anytime soon.

Thriving business that employed 40 people just two weeks ago is on the brink of disaster. People who have never run a business think the answers are easy.
Very informative.

Might I ask what the company is? I'll buy a shirt when you reopen.
 

KI4MVP

formerly LJ4MVP
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Seems like a Media Bias thread post.



Another unoriginal thought: Notice how throughout the process of determining what to put into this bill that none of the debate was centered on how we would pay for any of it. We just CHOSE to use $2.2 trillion because we needed to. This really speaks to the earlier discussion about what atrocities we accept in capitalism and what we consider a bridge too far. Thousands can die every year because they are too poor to get the healthcare they need and that isn't an emergency where we can write a blank check. But now we can do those things I assume because it threatens the wealth of those in power. I'm not convinced we will learn the right lessons and grow from this as a country, but our systemic flaws are getting exposed pretty hard by this whole thing.
a lot of the 2.2 trillion is loans that will get paid back. And most of the money is an attempt to prevent complete economic collapse. I say most because I’m sure there is extra stuff thrown in.

we will still have economic collapse if we don’t contain the virus.
 

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