The bailout’s provisions are unrealistic and don’t make it more likely workers will be rehired. And the restaurant business, decimated, still hasn’t figured out a way forward
Of all the truths prevailing in Coronavirus America, perhaps the cruelest is that no industry or sector or person is spared. More than a million people are known to be infected with the virus in the U.S. More than 60,000 people have fallen victim to it. Families, if they are the lucky ones, are separated, socially distanced, homeschooling, remote working.
The terms made little sense, given that most restaurants will not be able to open in a meaningful way before that deadline, making it unnecessary and financially impossible to rehire their workers before the end of June. And given that restaurants likely won’t be operating at more than half capacity for the foreseeable future, it is hard to imagine most having the cash to pay back gigantic loans within that period of time.
Meyer told me earlier this week that as soon as he learned that the government had run out of money, they started to hear what he called justifiable anger and felt like he hadn’t understood the process. “That was so not part of our calculus, that the government was going to run out of money,” he told me in an interview for our podcast,“There was no fine print anywhere in the bill that said, Oh, by the way, if you get in line to try to save jobs, you will therefore be elbowing someone else out.
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