82 billion dollars

[JBen]

True that Mark, hindsight is 20/20 and some latitude has to be granted. But at the same time, when it comes to policitcs thats what matters. Whether it’s Fords handling of this/that, JTs, or Mike Harris. After Rae the fiscal house was a mess ( can you believe, better than what Ford walked into?). But, in fairness, with the benefit of hindsight, we know Harris, while he did some good, had some largely as it turns out now good ( or quasi right) idea’s. He had tunnel vission, and his execution was shall we say wanting, with real prices....

The private clinic thing staggered me. I didnt realize they were all closed and weren’t being utilized at all. So not only did they ( and its a matter of conjecture why, though a fairly safe bet can made with respect to the Unions and an upcoming election), close all of them, redirected all our resources into hospitals, namely the big cities.......People cant go to “cottages” because, small towns don’t have the resources....Not to test, not to contain, not to treat....Private clinics in small towns could have taken up a lot of that strain...

We knew in early March what was happening in Italy, knew LTCs could be an issue. Yet, we know now, they were hung out to dry. Not important enough for what scant PPE we had to boot.
And on and on

Can’t wear mask, yes use them. Can’t walk in a park, go fishing. But people can walk down streets, join huge lines at Costco....So much more on this, especially from the FEDs, Dr Tam.

The economic fallout from this, is worse than expected, is going to last longer ( though we knew some areas would lag and take time). The social, human cost of that is going to be huge as will the monetary. Both in terms of record deficits and debt which will choke us for years, and the cost to the peons, especially those who dont have it so good. Live hand to mouth so to speak, and you know, no-one is going to be willing to step up and save them. Sacrificial lambs, saving everyone else.

[JBen]

From the Sault today. This is but one small area. Most or some of us might have heard, used or at least seen Pine Portage at the Sportsman Show.

”[COLOR=#333333]The lodge, started by McGie’s father, has operated for 73 years and about 95 per cent of its guests are Americans.”

sad that.

https://www.saultstar.com/news/local...-be-the-sinker

[sawbill]

In a way, I can't help but wonder why these businesses haven't salted away funds for just such an occurrence. They went through a last minute cancellation of the spring bear hunt a number of years back so you'd think this would have been warning enough to have a nest egg of cash just in case some disaster were to reoccur. And that disaster could be anything from a medical issue, structure fire, forest fire, polluted water system you name it. I suppose its easier to get bailed out with taxpayers money than stash some away for that rainy day.

[trimmer21]

In a way, I can't help but wonder why these businesses haven't salted away funds for just such an occurrence. They went through a last minute cancellation of the spring bear hunt a number of years back so you'd think this would have been warning enough to have a nest egg of cash just in case some disaster were to reoccur. And that disaster could be anything from a medical issue, structure fire, forest fire, polluted water system you name it. I suppose its easier to get bailed out with taxpayers money than stash some away for that rainy day.

Most outfitter businesses are run on shoe strings. Really,all they're doing is buying themselves a job for 9 months out of the year after they pay expenses and (of course) taxes,there really isn't a hell of a lot of savings. There's an old adage that old timer outfitters used when asked how to make a million dollars as an outfitter. Their answer was always the same "That's easy. Start out with two million."

[sawbill]

T, I have family that operates a summer/fall outfitting business and they have been doing it for decades, dependent on the spring hunt, the summer fishery, and the fall bear and moose hunt. They recently spent a somewhat significant amount of money on refurbishing the place with all the luxuries only you and I would dream of. I've heard them cry poor way too many times to feel sorry when times get a tad tough. I suppose there are some who go year to year but certainly not all are in that boat.

[JBen]

Will side “somewhat” with Sawbill. Though I’ve been to places where they were run down. Operators don’t have the coin to fix them up. It’s a slow death spiral. And I’ve been to places that absolutely market to wealthy clients. Especially US clients. Haven’t there been threads on the forums over the years about these places, their prices and the fact they advertise in US dollars?

In the last 10-15 years eco tourism has become a fad. Something for millennial with cash and credit cards.. I would hazard the guess this demographic wants comforts and amenities.

The question might be. How many of them have the capital to pay for the upgrades, versus paying the bank.

Let’s also remember what the sportsmen show is like. As a youth, that section was what I looked forward to the most. These days, they are either prime dollar, or look to be in their last legs. And it’s a ghost of what it used to be. For most operators, it’s not worth the time/expense.

[mosquito]

JBen

Good article, they definitely need to get things back in order in hospitals and LTC especially. They were say that over 30 people have died in Ontario because they did not have their needed surgery. Maybe something like a separate Hospital or wing where people are tested before they go in or something.
The economy isn't going to get better for awhile that is for sure! My friends that run the restaurant said they got a letter today from the land lord, they just got the loan and had been talking to the owner about the rent and the gov't subsidy... the management company for the landlord sent a letter saying they owed the full rent, the late fee penalty and had to pay by the 1st or be sued ...... no chance of any reopening etc. any money for supplies and staff will likely get used as rent, so they gave notice of closing. When I went to the bank today I had to stand in line outside and the one restaurant there had a sign up closed March 20th to April ??, the ?? WAS a date and it was tore off and I looked in and it looks like it had been gutted. Alot of landlords will find that I think, sell off the equipment or move it to storage to sell later, close the company and *****censored*** the landlord. Ones like the landlord for my friends restaurant probably look at the loan to run the business as their money more than the restaurant or stores owners and I doubt the decrease the rent thing will fly... if they had done the rent subsidy first it might have worked.... not now though.

We won't have a clue what the business closing, bankruptcies etc. will be until mid June or later, we are still at a high altitude in the dive bombers run! Then there is the effect on landlords, cottage owners that can't rent, hotels and restaurants that will sit empty... the bomb is still in the rack and the deaths from medical procedures, depression, domestic violence.... the bankruptcies will be off the chart compared to previous years... and today I still saw alot not wearing masks, for reopening they HAVE to make masks mandatory... but first they have to have them available.

Taiwan... still under 500 cases ... they've been rationing and requiring masks for months and I saw in the news they donate 500,000 to Canada.... wonder if PM Justlied Silly Socks is OK with that.

[sawbill]

Whether its a corporation or not its a brain dead landlord who won't give an extension to a reliable rentor. That same landlord still has to pay taxes on that building whether its occupied or vacant. When the economy has been beaten down as it has of late who knows how long that property will sit empty before a new tenant will move in.

[JBen]

I will attempt to step on Eggshells.

As mentioned elsewhere my daughter got trapped in a furnace. Why? Because of some of the above. Thank god, she was locked in a tiny cell of a room for 23/hrs a day....that could have saved her life. But it should never have occurred to begin with.

Before March I’d had chest x-rays, endoscopy, colonoscopy, and MRI, pelvic and abdominal ultrasounds. I’ve seen ENTs, and a couple other specialist. That’s all on hold, except the blood specialist phone call Friday.

My fiancé. Who finished Chemo a year ago. And ended up having a bi lateral mastectomy found a lump a couple weeks ago. Because she is a survivor, she gets to see people. They sent her for a mammogram last week....At Lakeridge health. Durham center for Covid...seriously? There are or should be other places people can go, without having to expose themselves, and she is high risk. Interestingly enough, as she walked past what they nicely call the Chemo lounge. It was empty!!!

A year ago, there’d be 20 people having the red devil pumped into their veins, with more waiting outside. I assume that still going on..”but”..

What am I driving at?
Well guess....
It should not be this bad. Period.and there are reasons why

[mosquito]

Whether its a corporation or not its a brain dead landlord who won't give an extension to a reliable rentor. That same landlord still has to pay taxes on that building whether its occupied or vacant. When the economy has been beaten down as it has of late who knows how long that property will sit empty before a new tenant will move in.

Some will, most landlords I have had to deal with... OH.. you got that $40,000 loan .... pay the rent now! They won't reduce the rent by 25%, they see that $40K as rent paying money, not supplies, COVID upgrades, staff pay money... the example being the pay the rent now, pay the late penalty or we will sue you that my friends are facing. I wonder how many will use the forgivable $10K to close and return the rest or just go bankrupt and not return any of the $40K..... but there will be atleast 1/2 maybe up to 3/4 that will likely never reopen if this stretches into June without reopenings.

I will attempt to step on Eggshells.

As mentioned elsewhere my daughter got trapped in a furnace. Why? Because of some of the above. Thank god, she was locked in a tiny cell of a room for 23/hrs a day....that could have saved her life. But it should never have occurred to begin with.

Before March I’d had chest x-rays, endoscopy, colonoscopy, and MRI, pelvic and abdominal ultrasounds. I’ve seen ENTs, and a couple other specialist. That’s all on hold, except the blood specialist phone call Friday.

My fiancé. Who finished Chemo a year ago. And ended up having a bi lateral mastectomy found a lump a couple weeks ago. Because she is a survivor, she gets to see people. They sent her for a mammogram last week....At Lakeridge health. Durham center for Covid...seriously? There are or should be other places people can go, without having to expose themselves, and she is high risk. Interestingly enough, as she walked past what they nicely call the Chemo lounge. It was empty!!!

A year ago, there’d be 20 people having the red devil pumped into their veins, with more waiting outside. I assume that still going on..”but”..

What am I driving at?
Well guess....
It should not be this bad. Period.and there are reasons why

Some of the biggest reasons can be traced back through the PM's office, Theresa Tam and WHO and right back to the Chinese dictatorship for the Wuhan Pneumonia. They need to rethink how hospitals and clinics etc. work and are organized, specializations instead of generalizations etc. Special setups will take time, some bug working out and education.... and more time, more money and repeat.... IF they have the backbone to do it.




P.S.
Speaking of the rents before ...

https://business.financialpost.com/r...d-rent-surging

'Never seen anything as catastrophic': Malls in Canada face massive hit as unpaid rent surges
In the country's enclosed regional malls — a category that includes Toronto's Eaton Centre — only 20 per cent to 25 per cent of tenants paid rent in April


... and the rent..
The property owner is expected to kick in 25 per cent of the rent, and the tenant the other 25 per cent. The loans will be forgiven if the landlord agrees to lower rent by at least 75 per cent and agrees to not evict a tenant while the program is in place.


The management companies that run many of these properties will see themselves as the first priority of those businesses that get the $40K loans and will be unwilling to take a 25% cut.... that and everything else piled on, even my 3/4 closing may be high....