Friday, May 8, 2020

Quote of the Day

Larry from Texas emailed a comment into Hedgeye's morning macro conversation:
"I own three restaurants in Texas, cannot get staff to come to work because they make more money collecting unemployment, we'll continue losing money with only 25% allowed seating capacity."
Speaking with a restaurateur friend yesterday I learned that the dynamics in terms of allowed capacity and, we presume, profitability will differ throughout the country; hopefully better in the SJ Valley vs the Texas jurisdiction the gentleman I quoted operates in. 

Bottom line: "Reopening" economies is one thing, getting back to pre-crisis levels of business is another thing altogether (something we'll be tracking very closely!)...

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