{"id":4368,"date":"2020-05-19T16:07:03","date_gmt":"2020-05-19T20:07:03","guid":{"rendered":"https:\/\/tylercowensethnicdiningguide.com\/?p=4368"},"modified":"2020-05-20T09:33:55","modified_gmt":"2020-05-20T13:33:55","slug":"will-covid-19-expose-the-ghost-firms","status":"publish","type":"post","link":"https:\/\/tylercowensethnicdiningguide.com\/index.php\/will-covid-19-expose-the-ghost-firms\/","title":{"rendered":"Will Covid-19 expose the ghost firms?"},"content":{"rendered":"<blockquote><p>That is the topic of <a href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2020-05-19\/covid-19-will-expose-the-many-ghosts-in-the-u-s-economy?utm_campaign=socialflow-organic&#038;utm_medium=social&#038;utm_source=twitter&#038;cmpid%3D=socialflow-twitter-view&#038;utm_content=view&#038;sref=htOHjx5Y\">my latest Bloomberg column<\/a>, here is one excerpt:<\/p>\n<ul>Demand for in-restaurant dining is likely to fall as well, though <a href=\"https:\/\/www.mckinsey.com\/industries\/retail\/our-insights\/delivering-when-it-matters-quick-service-restaurants-in-coronavirus-times\">estimates<\/a> vary. Since the average small business <a href=\"https:\/\/www.npr.org\/2020\/03\/18\/817686265\/small-businesses-to-washington-please-send-money-soon-or-we-wont-survive\">carries<\/a> less than a month\u2019s worth of liquid reserves, and the wait for a vaccine is likely to be at least a year, many restaurants will simply be unable to survive the shrinking of the market.<\/p>\n<p>    I call these places ghost restaurants because they are still walking around, so to speak, visible to us and listed on Yelp, but not really alive and without much of a future.<\/p>\n<p>    In a few months\u2019 time, a significant number of these ghost enterprises will be gone. My drive around Northern Virginia, rather than being rich with culinary choice, will soon become fairly desolate \u2014 and the overall economic landscape will indeed be much emptier.<\/ul>\n<p>What else in our current capital structure might qualify as \u201cghost\u201d?<\/p><\/blockquote>\n<p><a href=\"https:\/\/marginalrevolution.com\/marginalrevolution\/2020\/05\/will-covid-19-expose-the-ghost-firms.html\"><em>Originally posted on Marginal Revolution<\/em> &#8211; click to see comments and suggestions.<\/a><\/p>\n<h3 class='related_post_title'>Related Posts:<\/h3><ul class='related_post'><li><a href=\"https:\/\/tylercowensethnicdiningguide.com\/index.php\/yeshi-kitfo\/\" title=\"Yeshi Kitfo\">Yeshi Kitfo<\/a><\/li><li><a href=\"https:\/\/tylercowensethnicdiningguide.com\/index.php\/why-do-the-servers-always-want-to-take-our-cutlery-and-plates-and-glasses-away\/\" title=\"Why do the servers always want to take our cutlery and plates and glasses away?\">Why do the servers always want to take our cutlery and plates and glasses away?<\/a><\/li><li><a href=\"https:\/\/tylercowensethnicdiningguide.com\/index.php\/amazon-drivers-urine-packaged-as-energy-drink-sold-on-amazon\/\" title=\"Amazon drivers\u2019 urine packaged as energy drink, sold on Amazon\">Amazon drivers\u2019 urine packaged as energy drink, sold on Amazon<\/a><\/li><li><a href=\"https:\/\/tylercowensethnicdiningguide.com\/index.php\/agglomeration-externalities-from-restaurants\/\" title=\"Agglomeration externalities from restaurants\">Agglomeration externalities from restaurants<\/a><\/li><li><a href=\"https:\/\/tylercowensethnicdiningguide.com\/index.php\/the-decline-of-michelin-starred-restaurants\/\" title=\"The decline of Michelin-starred restaurants\">The decline of Michelin-starred restaurants<\/a><\/li><\/ul>","protected":false},"excerpt":{"rendered":"<p>That is the topic of my latest Bloomberg column, here is one excerpt: Demand for in-restaurant dining is likely to fall as well, though estimates vary. Since the average small business carries less than a month\u2019s worth of liquid reserves, &hellip; <a href=\"https:\/\/tylercowensethnicdiningguide.com\/index.php\/will-covid-19-expose-the-ghost-firms\/\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37,38,11,185,66,31,153,35,14,33,15,79,113,191,39,26,3],"tags":[1963,1964,1550,1965,1967,652,1966],"class_list":["post-4368","post","type-post","status-publish","format-standard","hentry","category-alexandria","category-annandale","category-arlington","category-baileys-crossroads","category-centrevillemanassas","category-crystal-citypentagon-citynational-airport","category-economics-of-dining","category-eden-center","category-fairfax","category-falls-churchseven-corners","category-herndonrestonashburn-dulles-airport","category-leesburgwinchester","category-mclean","category-merrifield","category-springfield","category-viennatysons","category-virginia","tag-coronavirus","tag-covid-19","tag-economics-of-dining","tag-ethnic-restaurants","tag-ghost-restaurants","tag-mom-and-pop","tag-northern-virginia"],"_links":{"self":[{"href":"https:\/\/tylercowensethnicdiningguide.com\/index.php\/wp-json\/wp\/v2\/posts\/4368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tylercowensethnicdiningguide.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tylercowensethnicdiningguide.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tylercowensethnicdiningguide.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/tylercowensethnicdiningguide.com\/index.php\/wp-json\/wp\/v2\/comments?post=4368"}],"version-history":[{"count":1,"href":"https:\/\/tylercowensethnicdiningguide.com\/index.php\/wp-json\/wp\/v2\/posts\/4368\/revisions"}],"predecessor-version":[{"id":4369,"href":"https:\/\/tylercowensethnicdiningguide.com\/index.php\/wp-json\/wp\/v2\/posts\/4368\/revisions\/4369"}],"wp:attachment":[{"href":"https:\/\/tylercowensethnicdiningguide.com\/index.php\/wp-json\/wp\/v2\/media?parent=4368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tylercowensethnicdiningguide.com\/index.php\/wp-json\/wp\/v2\/categories?post=4368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tylercowensethnicdiningguide.com\/index.php\/wp-json\/wp\/v2\/tags?post=4368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}