Covid-19 in OKC (coronavirus)

[jn1780]

One of the questions will be long term immunity. Current coronaviruses don’t really give long acting immunity after infections. So will a vaccine do better than that?

We might end up with a situation where we produce it and administer it everywhere for short term immunity, then boost vaccinations as COVID-19 emerges in clusters if it ends up endemic.

Hopefully there is a long term immunity or were really screwed as a society and no amount of social distancing is going to stop that.

[dankrutka]

Vaccines can be rushed in emergency situations. Extraordinary times call for extraordinary measures.

Can you provide some sources and/or explanation on this? My understanding is the process cannot be rushed without the threat of the vaccine doing harm to people, but it's something I'm still trying to learn about.

[dankrutka]

Good story on Danilo Gallinari's experience with COIVD-19 across Italy and the U.S.: https://www.nytimes.com/2020/03/15/s...ari-italy.html

[Bunty]

Is it just complete disregard or head-in-sandism in Oklahoma?

I made it a point to drive by several restaurants on the way home from work last night. BWW's had about 12 cars in the parking lot, Texas Roadhouse had about 20 cars, On The Border had 10 or so, and Red Robin had about 10-15. This was at 9pm on Saturday night in Colo Springs. I mentioned up thread I went to Outback on Friday night to pick up a togo order of wings and was literally the only patron at 9PM.

When the first death in OKC is blamed on Corona virus, surely a lot more people will start taking it seriously.

[Cocaine]

In all honesty if people didn't learn from Wuhan, Italy, Iran or South Korea then maybe the only thing you can say is "Oh well." There is no reason why anyone shouldn't take this seriously after it brought down the second largest economy on earth, a powerhouse effecient economy in northeast asia and as its sweeping through the EU. Just shrug and let people bury their head into the sand.

[Pete]

https://www.normantranscript.com/new...36bdd87e2.html

[Pete]

Dow plunged over 2,200 points after opening and is now on automatic pause.

Oil is below $29 a barrel.

[BoulderSooner]

Dow plunged over 2,200 points after opening and is now on automatic pause.

Oil is below $29 a barrel.

if this goes on for months and months the long term economic disaster might be worse than the virus ...

[ChargerAg]

https://www.normantranscript.com/new...36bdd87e2.html

All details of this case seem so vague. Was this somebody that worked on campus? Did they recently return from overseas or did they catch this in the wild in norman?

Who was this person around and do they need to go into self quarantine?

[Pete]

From Rachel Cope:

Beginning Tuesday, March 17th, all of our 84 Hospitality Group restaurants will operate as take-out, delivery, and curbside pickup only. This includes: Empire Slice House OKC and Tulsa, Gorō Ramen, Gun Izakaya, Revolución, and Burger Punk. We will be closed tomorrow Monday, March 16th to implement these changes. As with all of our industry friends from around the country, we are taking every possible sanitary precaution to keep our team and our customers safe. The choice to continue to operate as to-go only rather than close completely is based on making enough money to put it into the pockets of our staff, period.

[sooner88]

From Rachel Cope:

Mule, Press and Anchor Down are doing the same. The Pump's staying open but cutting capacity in half, and I'm sure there are a lot more to follow. I feel for everyone in the service community that are living paycheck to paycheck, it's going to be a rough go for awhile.

[king183]

This is going to be an Armageddon for so many small businesses. Once this is over, please patronize them as much as you possible can if you have the means to do so.

[jedicurt]

This is going to be an Armageddon for so many small businesses. Once this is over, please patronize them as much as you possible can if you have the means to do so.

exactly. i have seen several offering delivery services to try and keep business going. the Meating Place in Norman is going to offer their BBQ by the pound and delivered to your door, to try and keep up business.

[OKC Guy]

This is going to be an Armageddon for so many small businesses. Once this is over, please patronize them as much as you possible can if you have the means to do so.

Also, buy gift cards from them online over the next few weeks

[catch22]

Also, buy gift cards from them online over the next few weeks

Are we sure about that? I am not an accountant but I was under the impression that gift cards cannot be accounted for until use. The money has to remain in an escrow-like account until redemption, and then at the time of sale, the money can be used to pay for that purchase. Perhaps it is just for tax purposes, but will this impact their ability to receive a loan to make it in the short term? All of a sudden they have received a huge infusion of cash but also huge inflation of liabilities. If those liabilities are too great they may not qualify for a loan.

[OKC Guy]

Are we sure about that? I am not an accountant but I was under the impression that gift cards cannot be accounted for until use. The money has to remain in an escrow-like account until redemption, and then at the time of sale, the money can be used to pay for that purchase. Perhaps it is just for tax purposes, but will this impact their ability to receive a loan to make it in the short term? All of a sudden they have received a huge infusion of cash but also huge inflation of liabilities. If those liabilities are too great they may not qualify for a loan.

Good question. But if I walk in and pay $50 cash for a gift card its their money now right? Of course they have to honor it and my risk is they go out of business. But why can’t they cash/use that $50 now? So same would apply if I buy online?

[catch22]

Good question. But if I walk in and pay $50 cash for a gift card its their money now right? Of course they have to honor it and my risk is they go out of business. But why can’t they cash/use that $50 now? So same would apply if I buy online?

I am not sure. Are there any accountants on the board that can weigh in?

[jccouger]

Schools expected to close through April 6th

https://www.tulsaworld.com/news/loca...30105e6.html#1

[sooner88]

Good question. But if I walk in and pay $50 cash for a gift card its their money now right? Of course they have to honor it and my risk is they go out of business. But why can’t they cash/use that $50 now? So same would apply if I buy online?

It would most likely be booked as: Increase in assets (cash) and increase in liabilities (payable). Once the sale occurs, the liability would be eliminated and would go towards revenue.

[OKC Guy]

It would most likely be booked as: Increase in assets (cash) and increase in liabilities (payable). Once the sale occurs, the liability would be eliminated and would go towards revenue.

Yes. But they can use the cash from the sale now right? Which is what I’m trying to find out and would be a way to help these places during social distancing.

[ShadowStrings]

It would most likely be booked as: Increase in assets (cash) and increase in liabilities (payable). Once the sale occurs, the liability would be eliminated and would go towards revenue.

Confirmed, assuming they use accrual method accounting. Debit cash, credit unearned revenue (liability) when gift card is purchased. Debit unearned revenue credit income when gift card is used.

Cash is cash. Buying gift cards definitely helps spread out the financial impact. It gives businesses cash now but decreases cash received throughout the rest of the year as the gift cards are redeemed.

[ShadowStrings]

Yes. But they can use the cash from the sale now right? Which is what I’m trying to find out and would be a way to help these places during social distancing.

Yes, the cash is theirs to spend once the gift card is purchased.

[catch22]

Yes, the cash is theirs to spend once the gift card is purchased.

Thanks!

[Laramie]

[OKC Guy]

Yes, the cash is theirs to spend once the gift card is purchased.

Thanks! This could be one way we customers can support our fave eating and drinking establishments. Still won’t help their servers but maybe if the business survives those servers have their job back once this wanes.