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Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby Duane 3NE 2NR » September 11th, 2020, 9:11 pm


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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby killercow » September 11th, 2020, 9:14 pm

Mario's Chaguanas main road.
Detour Chaguanas main road.

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby goalpost » September 11th, 2020, 9:15 pm

Yeah Trinicty Mall is practically becoming a ghost town.

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby Numb3r4 » September 11th, 2020, 9:20 pm

goalpost wrote:Yeah Trinicty Mall is practically becoming a ghost town.


Is TruValue still open and operating?

What about the food court on that end?

Shame wasn't a bad mall quite liked it.

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby goalpost » September 11th, 2020, 9:24 pm

Yeah true value and the food court still there. A lot of the stores, especially upstairs gone.

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby Numb3r4 » September 11th, 2020, 9:28 pm

Upstairs....yes I understand.

So sad. Any one knows any retail workers? How are they coping?

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby Dohplaydat » September 11th, 2020, 9:30 pm

Numb3r4 wrote:Upstairs....yes I understand.

So sad. Any one knows any retail workers? How are they coping?


A lot are still waiting on their grants.

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby paid_influencer » September 11th, 2020, 9:32 pm

Numb3r4 wrote:Upstairs....yes I understand.

So sad. Any one knows any retail workers? How are they coping?


IMG_0081.JPG


not bad, all things considered

(not my photo)

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby paid_influencer » September 11th, 2020, 9:54 pm

Redress10 wrote:Marketing is a luxury spend. It's not essential. In times of lean economic times people are not concerned with buying a product they don't need. They only care about the necessities. The necessities hardly need marketing. Do you see any ads in TT for toilet paper?

Isn't it telling that the ad agencies make their most money around election time.


think of marketing firms as being more than just ads agencies. A good marketing firm will also do research and evaluate different strategies to see how well they are meeting a defined metric. Consider this: the response to the 'new normal' is not necessarily to double-down on old-normal tactics.

Take this facebook ad from Victoria Secrets where they advertise a promotion of 3 cotton or lace panties for $295. They get braced by women saying that overpriced, online cheaper, quality poor, it should come with baigan, etc.

How the company measures to those concerns, responds to those concerns, and measures the public's response to their response, is the function of a marketing firm. The most suitable answer might not even be an advertisement at all, it might be a price drop. Or even closing down and trying another franchise.

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby screwbash » September 12th, 2020, 5:17 am

closing of business is how we learning to live with the covid 19 ? or is this a result of the shut down in march/april ?

or is it a case of if the country had closed for a month and business loose one month money and they would reopen the following month with no virus in the country and business resume. it basically cut off the infected leg to save the entire body vs dying slowly as the virus spreads slowly to the entire body.

after all these workers lorse they wuk and not enough business to rehire they will turn to crime to survive. it will no longer be from the hills it will be from next door. everyting is dying slowly because we have to live with the virus as baldy and d pharmsys say.

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby bluefete » September 12th, 2020, 8:53 am

Re: Trincity Mall

People forget that it was the GREED of the landlord that has the mall in its current position.

When tenants were begging for some kind of relief during the shutdown, the landlord told them they still had to pay FULL RENT for ALL the months.

Well let them eat wind now.

Sorry for those who had to close up shop though. Quite a few people now operating from home or still waiting for the relief grants.

The landlords at other smaller malls helped out their tenants in some small way.

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby Redress10 » September 12th, 2020, 10:59 am

Plenty of those business probably were not economically relevant. How necessary is it to have a storefront to sell baby clothing when an online presence probably gets you more sales?

So did those businesses have the 6 months of cash reserved to cater for any unforseen circumstances or were they scrunting month to month? How much was rent in that mall? Could they honestly afford it or was it all for show?

Sidenote. Anyone remember the ridiculously cheap rent that the owner of benihanas were paying in TT and they still went buss. Think it was the wife of one of CL financials bigwigs. Wouldn't doubt that something similar is occuring now. Some paying low rents and others paying high rents based on familial links.

Isn't Trincity mall technically owned by the state?

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby Redress10 » September 12th, 2020, 11:03 am

Phone Surgeon wrote:That lean economic times make advertising all the more useful though. You can rope in the smaller quantity if customers it has.


Yeah but lean economic times also make you choose between paying staff or paying the light bill. Advertising is for all intents and purposes a luxury spend for companies. Advertising is usually outsourced when funds allow it. When things get tight it comes back into the organisation.

"Brands" are new to the world. People just used to buy generic products based on their needs that were indistinguishable from each other.

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby Rovin » September 12th, 2020, 11:49 am

hmmm havent gone there in over a dozen yrs ...

https://www.facebook.com/deOriginalWeAr ... kyNDU1NTU/


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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby ProtonPowder » September 12th, 2020, 11:56 am

Mall management at the behest of CL liquidators made their bed and caused this to happen. Now the taxpayers will probably somehow get roped into this.

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby adnj » September 12th, 2020, 12:00 pm

............
Last edited by adnj on September 12th, 2020, 12:00 pm, edited 1 time in total.

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby Rovin » September 12th, 2020, 12:02 pm

Rovin wrote:hmmm havent gone there in over a dozen yrs ...

https://www.facebook.com/deOriginalWeAr ... kyNDU1NTU/




dammit i hate when my post ends up last in d previous page ....

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby maj. tom » September 12th, 2020, 12:42 pm

Recovery of these businesses won't happen until at least 2021.
We do have history to look at, the 1918 Flu, which had its 4th wave in USA in 1920. And then there was an economic and social boom for the next decade aka "the roaring 20s."

In fact, after every major plague and famine in human history has been like that. A few years of suffering and then a readjustment to eventually boost our evolution. Even back to our early ancestors who were living on the edge of extinction on the coast of South Africa, then exploded into the post-climate change scene to take over the world.

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby pugboy » September 12th, 2020, 12:54 pm

lot of them mall shops were selling frills merchandise
consumer spending taking a hit on those items for sure

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby Duane 3NE 2NR » September 12th, 2020, 1:17 pm

maj. tom wrote:Recovery of these businesses won't happen until at least 2021.
We do have history to look at, the 1918 Flu, which had its 4th wave in USA in 1920. And then there was an economic and social boom for the next decade aka "the roaring 20s."

In fact, after every major plague and famine in human history has been like that. A few years of suffering and then a readjustment to eventually boost our evolution. Even back to our early ancestors who were living on the edge of extinction on the coast of South Africa, then exploded into the post-climate change scene to take over the world.

Just yesterday I was reading the wikipedia entry for the Roaring 20's hoping to find some clue of hope for the coming decade.
It wasn't comforting either that it ended with the Great Depression in 1929

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby Numb3r4 » September 12th, 2020, 6:58 pm

Maybe this is the new norm of economic boom and bust that we just have to get used to.

The issue going forward is that the booms disproportionately favour the already wealthy and the busts disproportionately affect the already poor.

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby ProtonPowder » September 12th, 2020, 7:59 pm

I agree

Sad part is that i hearing the word recession every single year since i in primary school to refer to the current state of TnT, and here we are nearly 2 decades later.

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby adnj » September 12th, 2020, 8:28 pm

Numb3r4 wrote:Maybe this is the new norm of economic boom and bust that we just have to get used to.

The issue going forward is that the booms disproportionately favour the already wealthy and the busts disproportionately affect the already poor.
It is a worldwide phenomenon.

“The K-shaped narrative is gaining traction as the tale of two recoveries conforms well with the ongoing outperformance of risk assets and real estate while front-line service sector jobs risk permanent elimination,” Ian Lyngen, head of U.S. rates strategy at BMO Capital Markets, said in a note.

The dominating stocks, in fact, help tell a story about a shifting economy that is leaving those behind with less access to the technology that will shape the recovery.

“We believe this is now settled and that we are seeing a ‘K-shaped’ recovery,” wrote Marko Kolanovic, global head of macro quantitative and derivatives research at JPMorgan Chase. 

Kolanovic, who has foreseen a number of major market changes, said the rapid evolution of society during the pandemic has triggered movements that have exacerbated inequality.

“The use of devices, cloud and internet services was bound to skyrocket while the rest of the economy took a nose dive (airlines, energy, shopping malls, offices, hospitality, etc.),” he said. “This has created enormous inequality not just in the performance of economic segments, but in society more broadly. On one side, tech fortunes reached all-time highs, while lower income, blue collar workers and those that cannot work remotely suffered the most.”

https://www.cnbc.com/2020/09/04/worries ... althy.html

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby Numb3r4 » September 12th, 2020, 8:31 pm

You heard recession, I was hearing diversification.

Well I believe we're now about to see what a real recession is, difference being is that now we know that there will be no real oil and gas boom to bail us out.

Even if we do see a boom globally, how will we be part of it and how will we benefit from it?

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby paid_influencer » September 12th, 2020, 9:16 pm

ProtonPowder wrote:I agree

Sad part is that i hearing the word recession every single year since i in primary school to refer to the current state of TnT, and here we are nearly 2 decades later.


nearly 2 decades puts your right around the early 2000's. That era was when this country peaked. We had the tail-end of reforms under the NAR and Patrick Manning's first term - a competitive and open economy born out of IMF specifications - combined with reaping the benefits of investment in Natural Gas and LNG.

The Prime Minister famously declared "Money is no problem" and considered buying a private jet.

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby Duane 3NE 2NR » September 12th, 2020, 10:09 pm

adnj wrote:
Numb3r4 wrote:Maybe this is the new norm of economic boom and bust that we just have to get used to.

The issue going forward is that the booms disproportionately favour the already wealthy and the busts disproportionately affect the already poor.
It is a worldwide phenomenon.

“The K-shaped narrative is gaining traction as the tale of two recoveries conforms well with the ongoing outperformance of risk assets and real estate while front-line service sector jobs risk permanent elimination,” Ian Lyngen, head of U.S. rates strategy at BMO Capital Markets, said in a note.

The dominating stocks, in fact, help tell a story about a shifting economy that is leaving those behind with less access to the technology that will shape the recovery.

“We believe this is now settled and that we are seeing a ‘K-shaped’ recovery,” wrote Marko Kolanovic, global head of macro quantitative and derivatives research at JPMorgan Chase. 

Kolanovic, who has foreseen a number of major market changes, said the rapid evolution of society during the pandemic has triggered movements that have exacerbated inequality.

“The use of devices, cloud and internet services was bound to skyrocket while the rest of the economy took a nose dive (airlines, energy, shopping malls, offices, hospitality, etc.),” he said. “This has created enormous inequality not just in the performance of economic segments, but in society more broadly. On one side, tech fortunes reached all-time highs, while lower income, blue collar workers and those that cannot work remotely suffered the most.”

https://www.cnbc.com/2020/09/04/worries ... althy.html

Biden spoke about K-shaped’ recovery in a speech recently.
It's an unfortunate reality where the rich will recover and the middle and poor get worse.

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby adnj » September 12th, 2020, 10:33 pm

Duane 3NE 2NR wrote:
adnj wrote:
Numb3r4 wrote:Maybe this is the new norm of economic boom and bust that we just have to get used to.

The issue going forward is that the booms disproportionately favour the already wealthy and the busts disproportionately affect the already poor.
It is a worldwide phenomenon.

“The K-shaped narrative is gaining traction as the tale of two recoveries conforms well with the ongoing outperformance of risk assets and real estate while front-line service sector jobs risk permanent elimination,” Ian Lyngen, head of U.S. rates strategy at BMO Capital Markets, said in a note.

The dominating stocks, in fact, help tell a story about a shifting economy that is leaving those behind with less access to the technology that will shape the recovery.

“We believe this is now settled and that we are seeing a ‘K-shaped’ recovery,” wrote Marko Kolanovic, global head of macro quantitative and derivatives research at JPMorgan Chase. 

Kolanovic, who has foreseen a number of major market changes, said the rapid evolution of society during the pandemic has triggered movements that have exacerbated inequality.

“The use of devices, cloud and internet services was bound to skyrocket while the rest of the economy took a nose dive (airlines, energy, shopping malls, offices, hospitality, etc.),” he said. “This has created enormous inequality not just in the performance of economic segments, but in society more broadly. On one side, tech fortunes reached all-time highs, while lower income, blue collar workers and those that cannot work remotely suffered the most.”

https://www.cnbc.com/2020/09/04/worries ... althy.html

Biden spoke about K-shaped’ recovery in a speech recently.
It's an unfortunate reality where the rich will recover and the middle and poor get worse.
It's more complex than that. The technologically advanced are recovering more quickly. Wealthy retail, restaurant and factory owners are not recovering as quickly if their products and services were not innovative of saw advances in productivity.

Workers with higher education and greater skill sets saw fewer layoffs and faster rehiring at higher wages worldwide.

The hardest hit have been domestics, farm workers, restaurant, retail, and low-skill factory workers. Many of the jobs came back with lower wages than previously paid.

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby sMASH » September 13th, 2020, 4:32 am

'we'?

GoRTT will tax and fine people up the wazoo, gortt will be okay. They will sort their salaries and perks First and sort out the people after.

The rest of this 'we' is who hadda figure out how to make money.
What can u sell that someone else will want to buy?

Roast fish and bake and shake.

The 90 new exploration sites with BP.
A few cpl here and there.

But imburt keeping the US price low... Lol.
Price need to follow supply/demand forces.

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby Redman » September 13th, 2020, 7:17 am

Redress10 wrote:Plenty of those business probably were not economically relevant. How necessary is it to have a storefront to sell baby clothing when an online presence probably gets you more sales?

So did those businesses have the 6 months of cash reserved to cater for any unforseen circumstances or were they scrunting month to month? How much was rent in that mall? Could they honestly afford it or was it all for show?

Sidenote. Anyone remember the ridiculously cheap rent that the owner of benihanas were paying in TT and they still went buss. Think it was the wife of one of CL financials bigwigs. Wouldn't doubt that something similar is occuring now. Some paying low rents and others paying high rents based on familial links.

Isn't Trincity mall technically owned by the state?




Sequential govts have adopted us interest rate policy in general and then managed the economy to avoid the deeper parts of the down cycles...

This has allowed too many half arsed business to stay in operation...crowding every sector with poorly run operators....now we starting to see a shake out we’re we go through the closures in a serious way....and business is forced to streamline, innovate and Economize.

Like natural ecosystems we need a little fire now and then to prevent the underbrush to dominate and choke out new growth.

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Re: Businesses that closed down in Trinidad & Tobago due to Covid-19 lockdown

Postby bluefete » September 13th, 2020, 11:50 am


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