Restaurants Are Hurting

Lon · Post by **Lon** » Wed Oct 22, 2008 7:09 pm

I love shish kabob & rice pilaf (lamb), and went to my favorite Armenian Restaurant Saturday night. It was 7:30 PM and usually the place is packed on a Saturday night at that time. I asked A.J. the owner what was up and he said that business had fallen off dramatically the past couple of weeks. He went on to say that if it continued for another month he would have to close up. He's been at that location for 22 years. Restaurant failures are bound to happen in a failing economy.

What's going on in your part of the country with restaurants?

Odie · Post by **Odie** » Wed Oct 22, 2008 7:24 pm

Car dealerships are now advertising no payments until 2010......this is a first for that.

The housing market has slowed down dramatically as well.

Movie theares have no line ups anymore-

--it costs 18.00 for one adult to see a movie.

so for two people, 38.00 is alot for an hour and a half movie, not including drinks or food.

Restaurants are also much quieter, and its a shame for all of this, because when no one spends....................

that's how it is in Canada now.

southern yankee · Post by **southern yankee** » Wed Oct 22, 2008 7:57 pm

i think it depends the part of the country you live. I personally have stopped eating out due to the hurricane. it will take months to recoup. but this area. has not been hit econopoly YET. The restaurants, malls, and other establishments are not biting the bullet as of now. But it may happen soon. who knows?

guppy · Post by **guppy** » Wed Oct 22, 2008 8:21 pm

In my town..the ford/mercury lot shut down last week..Friedmans Jewelers went out of business, dunkin donuts closed......

a big Ford lot in Brunswick closed and the one in Jesup recently as well. A local diner closed in Jesup too..

I heard a RV dealership went under yesterday in Savannah.

I very rarely eat out..and most of the time its like taco bell or something because its cheap..so i havent noticed if the restraunts are slow yet.

Large auto dealers, boat dealers, rv's and atv dealerships are in trouble right now..they funcion off of floor plans.a credit line issued from a bank..most banks are frozen right now..not making any more loans..to cover payroll or what not for the companies..so its only a matter of time..untill they go down.:-5

Odie · Post by **Odie** » Wed Oct 22, 2008 8:30 pm

guppy;1031576 wrote: In my town..the ford/mercury lot shut down last week..Friedmans Jewelers went out of business, dunkin donuts closed......

a big Ford lot in Brunswick closed and the one in Jesup recently as well. A local diner closed in Jesup too..

I heard a RV dealership went under yesterday in Savannah.

I very rarely eat out..and most of the time its like taco bell or something because its cheap..so i havent noticed if the restraunts are slow yet.

Large auto dealers, boat dealers, rv's and atv dealerships are in trouble right now..they funcion off of floor plans.a credit line issued from a bank..most banks are frozen right now..not making any more loans..to cover payroll or what not for the companies..so its only a matter of time..untill they go down.:-5

its just so frightening!

The largest GM plant close to home here in Toronto are closing next year.........

guppy · Post by **guppy** » Wed Oct 22, 2008 8:35 pm

I know a woman who works for Suntrust bank in Brunswick , Georgia..she told a friend of mine that there are five other local banks about to belly up there..

yea, scrat, the docks in brunswick usually have several hundred autos waiting to be distributed to dealers in the US after being unloaded from cargo ships coming from overseas..last time i looked..there are thousands and thousands..sixty miles away from the docks..a huge area has been fenced in and the autos are piling up there by the hundreds ,,,it looks like a humonous auto cemetary...:-2

Odie · Post by **Odie** » Wed Oct 22, 2008 8:39 pm

problem also with car dealerhships, they order their 2009 vehicles a year ahead of time.........they start to bring them out as they come in in July........they now have ordered way to many!

wildhorses · Post by **wildhorses** » Wed Oct 22, 2008 8:40 pm

Lon;1031479 wrote: I love shish kabob & rice pilaf (lamb), and went to my favorite Armenian Restaurant Saturday night. It was 7:30 PM and usually the place is packed on a Saturday night at that time. I asked A.J. the owner what was up and he said that business had fallen off dramatically the past couple of weeks. He went on to say that if it continued for another month he would have to close up. He's been at that location for 22 years. Restaurant failures are bound to happen in a failing economy.

What's going on in your part of the country with restaurants?

In San Francisco the restaurants are still fairly busy, but not like usual. This time of year tourists are still here though. And then at Xmas we get some more tourists.

I have friends who work at some of the major hotel/restaurants in town. They said so far not too bad. But there can always start to be cancellations. They are nervous.

But even if the rest of the year pans out ok, it is doubtful that there will be business after the Xmas tourists leave. January and February are typically slow as we depend on tourists.

But it usually picks up in March and April. Don't know what will happen by then. They say they expect it to continue to be slow under the circumstances.

Of course this will mean job loss....not just in the hotel biz, but in the shops as well. Furthermore it will affect revenue for San Francisco City and County.

guppy · Post by **guppy** » Wed Oct 22, 2008 8:45 pm

Odie;1031595 wrote: problem also with car dealerhships, they order their 2009 vehicles a year ahead of time.........they start to bring them out as they come in in July........they now have ordered way to many!

and most of them have a certain limit on their floor plan loans..they have a certain amount of time to sell their inventory and as they do repay their floor plan loan..if they dont sell anything..the banks are stuck with this loan and call the whole thing in..essentially shutting the dealer down.

do you see what is gonna happen next? houses-bad loans..

now its gonna be autos, boats, atvs and rvs..and the banks are gonna be holding all these loans...as well...

Nomad · Post by **Nomad** » Thu Oct 23, 2008 3:51 am

Minneapolis isnt feeling the pain the way many other cities around the country are.

Im not sure what the reason is but thats what the guy on the radio said.

sunny104 · Post by **sunny104** » Thu Oct 23, 2008 6:06 am

I haven't noticed any changes but Texas never had a boom like a few other states did. We just carried on as normal and I guess we still are.

southern yankee · Post by **southern yankee** » Thu Oct 23, 2008 12:15 pm

Scrat;1032162 wrote: Genie machine works in Redmond Wa is laying off 1500 people. Boeing is not going to deliver the 787 anywhere near on schedule and is hemoraghing money. The building industry here is falling to pieces. Home prices are going down quickly and the retail market expects dismal sales this year. such a sad thing. It is hard not to think about it. If you are going through it or not. it just is not fair:(

shelbell · Post by **shelbell** » Thu Oct 23, 2008 3:17 pm

So far haven't seen any changes here in Illinois. Restaurants are still busy, and the mall is always crowded. Gas prices sure are dropping.

chonsigirl · Post by **chonsigirl** » Thu Oct 23, 2008 3:21 pm

I wouldn't know, I won't go out to eat anymore, it is a luxury not in the budget. No more pizza on Friday either, but that has been since the beginning of summer.