Tilman Fertitta..lays off all Landrys employees and eliminates luxury hotel workers' paid time off amid covid19 crisis.

[SkyhookinUrMom]

Dont panic. Read the article.

This happened to a few of my friends. A lot of businesses are laying off their employees so they can collect unemployment from the government while the business isn't giving them hours, with the intention of hiring the employee back when they are able to reopen. Thats what it sounds like his business is doing as well, if you read the first article. This is a benefit to employees, they still get some sort of paycheck (from the government via unemployment), they don't have to use their Paid Time Off that they've worked for (and they get it back upon re-hire), and they can have their job back when they open again.

While this Fertitta has a history of sleezy moves, this doesn't seem like another one to put on the long list...at least thats what I got from the articles. As long as he does re-hire everyone that wants their job back, then I don't think this is a very big deal.

Private companies harvest the profit.
The state covers the losses.

Magnificent

[Scalabrine]

Dont panic. Read the article.

This happened to a few of my friends. A lot of businesses are laying off their employees so they can collect unemployment from the government while the business isn't giving them hours, with the intention of hiring the employee back when they are able to reopen. Thats what it sounds like his business is doing as well, if you read the first article. This is a benefit to employees, they still get some sort of paycheck (from the government via unemployment), they don't have to use their Paid Time Off that they've worked for (and they get it back upon re-hire), and they can have their job back when they open again.

While this Fertitta has a history of sleezy moves, this doesn't seem like another one to put on the long list...at least thats what I got from the articles. As long as he does re-hire everyone that wants their job back, then I don't think this is a very big deal.

Private companies harvest the profit.
The state covers the losses.

Magnificent

Is this not a reason why they pay taxes? We're in the midst of an unprecedented crisis. Would you rather the businesses take the hit and likely go under and in turn provide no jobs in future? Many businesses wouldn't survive an indefinite period of paying their employees while not turning profit, and in this case, many employees don't have enough PTO to cover the amount of time they are likely to be out of work.

What is your solution?

[jason bourne]

scumbag

Greedy scumbag. Fertitta has been buying up restaurant chains that were near foreclosure for cheap for years. Now, that everyone is in some for of lockdown and restaurants can't open he is facing losing money up the wazhoo. It's not a necessary industry the government will bail him out on. Just desserts?

[Duffman100]

Yeah all depends on how they were "laid off".

Some companies were 'laying people off" but giving them 0 hour schedules, so they can't apply for EI. If you fully lay someone off, you can get EI...which is better for an employee

[SWYM]

What did people expect was going to happen? All throughout history people taking care of themselves first and now people will be egalitarian? In a free-market economy, government needs to step up in times of crisis because there isn’t any other way.

If laid off workers can collect extended unemployment, it’s a start. Don’t see any other way, really.

All the free market economics has gone out the window as all these corporations are clamoring for bailouts.

It's amazing how people rail against socialism except for when they need it for themselves

Yes, let's implement an economic crippling political system for Black Swan events...

Let me guess, you don't cross the street, drive a car or do anything that poses any risk because you "may" die?

Thankfully, Bernie Bros will go away after another failed attempt at a race

[kobe_vs_jordan]

Dont panic. Read the article.

This happened to a few of my friends. A lot of businesses are laying off their employees so they can collect unemployment from the government while the business isn't giving them hours, with the intention of hiring the employee back when they are able to reopen. Thats what it sounds like his business is doing as well, if you read the first article. This is a benefit to employees, they still get some sort of paycheck (from the government via unemployment), they don't have to use their Paid Time Off that they've worked for (and they get it back upon re-hire), and they can have their job back when they open again.

While this Fertitta has a history of sleezy moves, this doesn't seem like another one to put on the long list...at least thats what I got from the articles. As long as he does re-hire everyone that wants their job back, then I don't think this is a very big deal.

This does is not an added benefit for employees. They are already entitled to unemployment benefits for lack of work.

Maximum weekly unemployment in my state is $330 a week. Can take up 6 to 8 weeks to get your first deposit under normal times much less times like this. It would be much better to use paid time off and get a full pay check till your benefits kick in.

[LuffyFiasco]

What did people expect was going to happen? All throughout history people taking care of themselves first and now people will be egalitarian? In a free-market economy, government needs to step up in times of crisis because there isn’t any other way.

If laid off workers can collect extended unemployment, it’s a start. Don’t see any other way, really.

All the free market economics has gone out the window as all these corporations are clamoring for bailouts.

It's amazing how people rail against socialism except for when they need it for themselves

Yes, let's implement an economic crippling political system for Black Swan events...

Let me guess, you don't cross the street, drive a car or do anything that poses any risk because you "may" die?

Thankfully, Bernie Bros will go away after another failed attempt at a race

lol because all the corporations look after their employees properly, clearly additional workforce regulations to alleviate this wouldn't help at all. What did the recent tax cuts do exactly?

[NBAFan93]

Dont panic. Read the article.

This happened to a few of my friends. A lot of businesses are laying off their employees so they can collect unemployment from the government while the business isn't giving them hours, with the intention of hiring the employee back when they are able to reopen. Thats what it sounds like his business is doing as well, if you read the first article. This is a benefit to employees, they still get some sort of paycheck (from the government via unemployment), they don't have to use their Paid Time Off that they've worked for (and they get it back upon re-hire), and they can have their job back when they open again.

While this Fertitta has a history of sleezy moves, this doesn't seem like another one to put on the long list...at least thats what I got from the articles. As long as he does re-hire everyone that wants their job back, then I don't think this is a very big deal.

Private companies harvest the profit.
The state covers the losses.

Magnificent

Hate to go all pro-business here, but the state covering this stuff is exactly why those corporations pay taxes and unemployment insurance. Employees pay into these things too.

All that tax money that working people and corporations have been forking over all these years - it’s so the government has money to deal w/ this type of mess and they better do what’s right.

I have no problem with them giving bailouts to big corporations, but they also got to be sure small businesses and workers are taken care of too.

[DCRYsing89]

Dont panic. Read the article.

This happened to a few of my friends. A lot of businesses are laying off their employees so they can collect unemployment from the government while the business isn't giving them hours, with the intention of hiring the employee back when they are able to reopen. Thats what it sounds like his business is doing as well, if you read the first article. This is a benefit to employees, they still get some sort of paycheck (from the government via unemployment), they don't have to use their Paid Time Off that they've worked for (and they get it back upon re-hire), and they can have their job back when they open again.

While this Fertitta has a history of sleezy moves, this doesn't seem like another one to put on the long list...at least thats what I got from the articles. As long as he does re-hire everyone that wants their job back, then I don't think this is a very big deal.

Yeah Qantas in Australia has done that, something like 40,000 fired, but they have stated that they all will get rehired once able to again, just can’t financially support them atm.

But with the Australian government upping one of the payments for job seekers they will still be getting a solid pay check...
My only question is where is the Aussie government getting all this money...

[zimpy27]

Working for companies is a privilege it seems

[NBAFan93]

Yeah all depends on how they were "laid off".

Some companies were 'laying people off" but giving them 0 hour schedules, so they can't apply for EI. If you fully lay someone off, you can get EI...which is better for an employee

Reduced hours qualifies for unemployment in many states. I would think that would be preferred to getting let go entirely as w/ a 0 hours schedule one would possibly get to keep benefits like Heath insurance while collecting money via unemployment.

[zimpy27]

Dont panic. Read the article.

This happened to a few of my friends. A lot of businesses are laying off their employees so they can collect unemployment from the government while the business isn't giving them hours, with the intention of hiring the employee back when they are able to reopen. Thats what it sounds like his business is doing as well, if you read the first article. This is a benefit to employees, they still get some sort of paycheck (from the government via unemployment), they don't have to use their Paid Time Off that they've worked for (and they get it back upon re-hire), and they can have their job back when they open again.

While this Fertitta has a history of sleezy moves, this doesn't seem like another one to put on the long list...at least thats what I got from the articles. As long as he does re-hire everyone that wants their job back, then I don't think this is a very big deal.

Yeah Qantas in Australia has done that, something like 40,000 fired, but they have stated that they all will get rehired once able to again, just can’t financially support them atm.

But with the Australian government upping one of the payments for job seekers they will still be getting a solid pay check...
My only question is where is the Aussie government getting all this money...

In Australia, usually in unemployment you get 280 AUD a week, which is $150 USD. That money is being doubled if lost job due to coronavirus. So $300 USD a week. It's enough to get by for now for some but will be a struggle for those who lose an average salary full time job ($900 USD a week).

Governments can print money in short term if they need to recirculate wealth. Australia has high taxes and doesn't spend much on military. That's how they can afford it.

[EAS Law]

Yeah, people should operate at a loss and put themselves into bankruptcy amidst a global crisis that directly impacts their business because that would make them really nice people.

[NBAFan93]

Working for companies is a privilege it seems

I mean it is. The government is telling small businesses they are not allowed to remain open - literally taking away people’s livelihoods over this shutdown.

Business owners can’t be expected to keep paying employees when no income is coming in. The owner of a hair salon for instance - what are they supposed to do? They can’t keep paying people - they can’t afford to. And a good portion of that type of employees income comes from tipping. The small business owner supposed to give their laid off employees the tip money customers would have given them?

[Pharmcat]

What did people expect was going to happen? All throughout history people taking care of themselves first and now people will be egalitarian? In a free-market economy, government needs to step up in times of crisis because there isn’t any other way.

If laid off workers can collect extended unemployment, it’s a start. Don’t see any other way, really.

All the free market economics has gone out the window as all these corporations are clamoring for bailouts.

It's amazing how people rail against socialism except for when they need it for themselves

Yes, let's implement an economic crippling political system for Black Swan events...

Let me guess, you don't cross the street, drive a car or do anything that poses any risk because you "may" die?

Thankfully, Bernie Bros will go away after another failed attempt at a race

I'm not a Bernie bro, whatever that means anyways

Your guess is wrong

You totally missed the point : these companies and their bought off politicians rail against socialism except when the companies need it (now, financial crisis a decade ago , etc). It's hypocrisy at its best

[madmaxmedia]

When you own a business, your first obligation is to the business. If the business fails, it can't employ anyone.

Fertitta must do what is best for the business. Obviously you've never owned a business.

You're a human being, before you are a business owner.

I understand that a lot of business owners have to lay off people and I'm not arguing against that, I mean a lot of businesses are going to end up closing regardless. I used to go to a local bar that opened a few months ago, really nice owner, I feel terrible for him and many others like him. I can't imagine what he's going through now (he's got a couple of kids too), obviously the same goes for his employees.

But there's a lot of shades of gray in that statement you made, people have used that statement to justify all sorts of abhorrent behavior for decades/centuries. Just because something is legal doesn't make it moral, and 'shareholder value' is not a blanket excuse for your personal decisions and actions. A lot of whistle blowers who act selflessly at great personal risk for the greater benefit of society, are crucified internally within their companies because their actions hurts their companies. I'm not a socialist, but let's not pretend life is as easy as some capitalists make it out to be.

But yes, a lot of business owners are having to make difficult decisions now, many of which genuinely care about their employees.

[madmaxmedia]

All the free market economics has gone out the window as all these corporations are clamoring for bailouts.

It's amazing how people rail against socialism except for when they need it for themselves

Yes, let's implement an economic crippling political system for Black Swan events...

Let me guess, you don't cross the street, drive a car or do anything that poses any risk because you "may" die?

Thankfully, Bernie Bros will go away after another failed attempt at a race

I'm not a Bernie bro, whatever that means anyways

Your guess is wrong

You totally missed the point : these companies and their bought off politicians rail against socialism except when the companies need it (now, financial crisis a decade ago , etc). It's hypocrisy at its best

This is not a specific statement about any posts here or about particular politicians, etc. But in this country rational discussion has gone completely out the window, which is how we got to this current state with COVID-19. I don't even mean OMG we should have all been freaking out about it 3 months ago, I just mean there was so little actual fact or data-based discussion, and our elected politicians often seem more interested in humoring their constituents for votes, rather than trying to make responsible, sound judgements.

[anatomicbomb]

Dont panic. Read the article.

This happened to a few of my friends. A lot of businesses are laying off their employees so they can collect unemployment from the government while the business isn't giving them hours, with the intention of hiring the employee back when they are able to reopen. Thats what it sounds like his business is doing as well, if you read the first article. This is a benefit to employees, they still get some sort of paycheck (from the government via unemployment), they don't have to use their Paid Time Off that they've worked for (and they get it back upon re-hire), and they can have their job back when they open again.

While this Fertitta has a history of sleezy moves, this doesn't seem like another one to put on the long list...at least thats what I got from the articles. As long as he does re-hire everyone that wants their job back, then I don't think this is a very big deal.

That's what I figured about "leave" versus permanent termination. However, in Canada at least, we have employers requiring that all paid time off is fully paid out in a lump sum prior to collecting Employment Insurance benefits through the government, so it may be that they do not get the time off back when returning to work (though I imagine that this is legislated differently in some states).

[DaPessimist]

Maybe these corporations should have taken that HUGE tax cut they received and used it to protect their business versus an economic downturn. There are several basic accounting practices that can be used.

Instead, these corporations operate in fantasy land where the economy is going to grow forever, and when the economy retracts they throw their hands up and ask for more bailouts. I'm done giving my tax dollars to failed businessmen.

[Ainosterhaspie]

How much money does he have available? Im not talking net worth, I'm talking liquid assets. How many employees have been laid off? If he bankrupted himself, sold off all his assets almost certainly for far below normal value since who's buying right now, how long could he keep paying them?

Until you have the answers to these questions, you have no business criticizing him, because you don't even know what is possible.