Quote:
Originally Posted by username
If the recession is the main reason for this business going under then how did it survive the last 20 years:
2008/2009 - Great Recession
2001 - dot com bust
1998/1999 - Last major drop in oil
Strange, Escobar managed to run a high end restaurant during those recessions but this one made them pack up.
What's changed??????
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lol yes who can forget all of those tech companies in downtown Calgary that laid off more than half their workforces in 2001.
Lets also forget all of the international praise from around the world at how well Canada's banking industry handled the 2009 financial crisis and how unaffected Canada was by it because of the regulations on that industry.
None of those things were anything like you're seeing today. You know that. You're really reaching here.
Quote:
Originally Posted by Enoch Root
While restaurants do 'fail all the time', they most certainly don't fail on a regular, steady basis.
Business failures are much like extinctions: they can happen at any time - and often it is self-inflicted. But they also tend to come in bunches. And when they do, it tends to be the result of an external shock.
Instead of simply dismissing this closing as a self-inflicted happens-all-the-time event, the more useful analysis is to ask: is there an external event here?
And I think the answer to that is pretty clear.
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If you answer anything besides Oil is now worth less than half of what it was a couple years ago, you have the wrong answer.