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Drudge Retort: The Other Side of the News
Thursday, March 26, 2020

The Calabasas Hills-based company informed all of its landlords in a letter dated March 18 (reproduced below) that a severe decline in restaurant traffic has decreased its cash flow and "inflicted a tremendous financial blow" to business.

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You are going to see a lot more of this.

#1 | Posted by GalaxiePete at 2020-03-26 08:02 AM | Reply

It may be too late now, but wiser heads should have seen this coming and figured out how to create a "pause" before this global pandemic eroded over a decades' worth of economic progress and growth.

This is a problem whose only solutions are time and patience, but panic and uncertainty shouldn't have been allowed to hollow out the erstwhile solid foundations laid by the hard work and due diligence of productive workers.

#2 | Posted by tonyroma at 2020-03-26 08:22 AM | Reply

This is pretty badass.
A quick glance at their balance sheet and cash flows tells me they could likely pay the rent, but they have the stronger bargaining position here.

What landlord will evict their tenant in a purpose built, brand specific space?

#3 | Posted by GOnoles92 at 2020-03-26 10:18 AM | Reply

It may be too late now, but wiser heads should have seen this coming and figured out how to create a "pause" before this global pandemic eroded over a decades' worth of economic progress and growth.'

Thats not how the world works Tony, it is complex, more complex than "wiser heads" can understand.

Even people that deal with complexity didn't understand the ramifications of what a full-lockdown meant.

This is a problem whose only solutions are time and patience, but panic and uncertainty shouldn't have been allowed to hollow out the erstwhile solid foundations laid by the hard work and due diligence of productive workers.

LOL the MSM once they realized could be used against Trump have been doing nothing but inducing panic. Even on the DR, banner headlines of only 20,000 people testing positive, 3 Million on unemployment, and the DRLeft is running around happy people are dying and others losing their jobs, why? Because the hold it against Trump. Much like you will.

Your post is so naive, it makes me wonder if you have been paying attention at all, certainly your understanding of complex issues has been suspect, but now its pretty clear you haven't the faintest idea of what "hard work and due diligence" is.

#4 | Posted by AndreaMackris at 2020-03-26 10:45 AM | Reply

I would also add, what where "wiser heads" in our government wasting their time on in December? January? February?

Its simply absurd to think how much mindshare by the Executive branch, the SupremeCourt, and Congress were wasted on a frivolous impeachment and trial.

They could have been preparing, holding committee hearings, getting details and making some plans on this breakout in Wuhan.

But no ...

Here we are, with a pandemic, with Millions filing for unemployment, passing a spending bill at the last second ......

Thanks for that Tony, thanks for wanting to destroy the country so you could save it.

#5 | Posted by AndreaMackris at 2020-03-26 10:52 AM | Reply

Even on the DR, banner headlines of only 20,000 people testing positive, 3 Million on unemployment, and the DRLeft is running around happy people are dying and others losing their jobs, why? Because the hold it against Trump. Much like you will.

F--- you schitheap.

Nobody is happy about any of this.

And accurately calling out Trump for his incompetence isn't using this crisis for a political purpose.

Funny how a twisted mind sees everybody else as twisted too.

#6 | Posted by jpw at 2020-03-26 11:01 AM | Reply | Newsworthy 5

Its simply absurd to think how much mindshare by the Executive branch, the SupremeCourt, and Congress were wasted on a frivolous impeachment and trial.
They could have been preparing, holding committee hearings, getting details and making some plans on this breakout in Wuhan.
But no ...
Here we are, with a pandemic, with Millions filing for unemployment, passing a spending bill at the last second ......
Thanks for that Tony, thanks for wanting to destroy the country so you could save it.

#5 | POSTED BY ANDREAMACKRIS

You really are a pathetic sack of -----.

Trump and his supporters own this. YOU own part of it for being such a brainless deadweight.

I can't say it with enough emphasis-F--- you schitheap.

#7 | Posted by jpw at 2020-03-26 11:04 AM | Reply | Newsworthy 2

What landlord will evict their tenant in a purpose built, brand specific space?

Mattress is too bent to realize that CF refusing to pay rent is precisely the type of "pause" that he says is impossible.

When buildings used for commerce are empty and not being used for commerce, why should lessors be compelled to pay? Conversely, if buildings lay dormant why should owners service their debt obligations until their properties generate revenue again?

And on and on. As I posited, there are people who could have designed something combined with federal government guarantees for future reimbursements that would have effectively frozen things in place until the time comes to reopen commerce nationally.

Of course there are many other aspects and factors involved, but this is sort of a rudimentary idea of what should have been theorized, since ultimately the US Government and the Federal Reserve Board can tacitly create money to support whatever was agreed upon. The debt will be the responsibility of all citizens as taxpayers anyway, so why shouldn't the government have joined with the markets to protect the economy from needless destruction due to a health crisis that no one can control?

#8 | Posted by tonyroma at 2020-03-26 01:41 PM | Reply

what where "wiser heads" in our government wasting their time on in December? January? February?

Trying to convince the guy who you voted for and worship that this crisis wasn't a hoax.

#9 | Posted by JOE at 2020-03-26 04:45 PM | Reply | Newsworthy 1

"what where "wiser heads" in our government wasting their time on in December? January? February?

Good question.
Does Ivanka make her calendar public?

#10 | Posted by snoofy at 2020-03-26 04:47 PM | Reply

Good grief, restaurants all over the country are making deals with their landlords. Forego rent until the emergency is over. Then reimburse the landlord after they can do regular business. Most property owners prefer having a tenant that they know and having a commercial property vacant for long is a kiss of death for the value of property and potential earnings. Vacancies kill business traffic and curve appeal. That's how the mega malls imploded.

#11 | Posted by docnjo at 2020-03-26 05:56 PM | Reply

"Even on the DR, banner headlines of only 20,000 people testing positive, 3 Million on unemployment, and the DRLeft is running around happy people are dying and others losing their jobs, why?"

Um, cuz it is the news.

#12 | Posted by danni at 2020-03-26 07:52 PM | Reply

From this point forward, every accusation that the DRLeft is happy or celebrating about tragedies will be flagged as offensive.

#13 | Posted by danni at 2020-03-26 07:57 PM | Reply | Newsworthy 2

"Most property owners prefer having a tenant that they know and having a commercial property vacant for long is a kiss of death for the value of property and potential earnings."

Your investment in private prisons has taught you well, Docnjo!

#14 | Posted by snoofy at 2020-03-26 08:01 PM | Reply

#14 | Posted by snoofy Hell, I don't even know what stock to buy if I were inclined to invest in this enterprise.

#15 | Posted by docnjo at 2020-03-27 08:35 AM | Reply

Been a landlord, been a tennant. I'm neither right now. When I was a landlord, collecting the rent was paramount because I had a mortgage on the property. Same is probably true for the property Cheesecake Factory is renting. I hope the owners of the property will make some sort of arrangement with them to help them get through this but I'm doubtful that will happen. I'm very sorry to say that. But, I am very doubtful that we are ever going to return to the world as we used to know it. Trust me on this, I pray to God that I am wrong.

#16 | Posted by danni at 2020-03-27 08:39 AM | Reply

#14 | Posted by snoofy Hell, I don't even know what stock to buy if I were inclined to invest in this enterprise.
#15 | POSTED BY DOCNJO

Pine boxes.

#17 | Posted by snoofy at 2020-03-27 08:18 PM | Reply

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