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H&M should be great for downtown and will pull people downtown that nevergo downtown.
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A drop in sales = most clothing stores in the mall folding? That's a lot of stores closing based on your logic, not sure you are making much sense.. |
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Are the Stonecutters keeping it under wraps? |
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Remember when ya'll said Lulu Lemon was going to draw people to downtown?? Don't think that quite materialized.
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Here's an article from last year that some of you should take a read through:
http://www.cbc.ca/news/business/cana...sing-1.3485248 |
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You're talking out of your ass. |
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Downtown is the busiest it's been in my lifetime. Instead office space, exclusive retailers, and new pubs have all played a part in that.
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Downtown has some serious fundamental flaws that need to be addressed before private business can truly be successful. Regina is a small prairie city with only so many people to visit bars and restaurants downtown. The market is clearly saturated. The PST certainly doesn't help either. |
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That Malt City didn't make it doesn't mean that downtown isn't growing. |
[QUOTE=Regina Boi;7881891]Well if any of you are in the food and beverage industry, you will already know that several of the new food and drinking establishments downtown have been struggling this year. Malt City in particular is one. Admittedly I haven't heard much about the Capital, however most nights I have gone this year, it has only been half full. I see they now have half price drinks some evenings, so that typically isn't something a profitable bar does, especially in the summer. Atlantis was not able to profit off of their new location either.
Downtown has some serious fundamental flaws that need to be addressed before private business can truly be successful. Regina is a small prairie city with only so many people to visit bars and restaurants downtown. The market is clearly saturated. The PST certainly doesn't help either.[/QUOTESo You seem to be changing your point. First it was the opening of H and M was going to be doom and gloom for the other existing retailers in the mall. A pretty simple statement and I think people on this blog are calling BS on such a simplistic statement. Now you are saying downtown has flaws and that is the reason businesses are closing. So which is it? The arrival of a large European retailer or the inherent flaws in downtown? Perhaps some of the challenges are related to a poor economy, increased taxes, more competition etc etc.. |
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I'm not denying that there are issues downtown needs to address - the biggest is pre-conceived notions. I can't convince my family that parking is available, and downtown is busy (read: safe). No matter how hard I try, they simply refuse to believe it. |
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I own 4 businesses, 2 in Regina and 2 in Mexico. My Mexican assets by far have a much larger ROI than the Regina assets. I'm closing one business here and putting several people out of work, because I simply can't afford the additional overhead of increased utilities, PST on more goods I purchase, and PST on my already ridiculous insurance premiums. The list goes on and on. Additionally, once Brad sells off 49% of the crowns, you are kidding yourself if you think there will not be job losses. That is also going to be a huge blow to the downtown. I'm already hearing some of the estimates of what the gov't is expecting in terms of reductions. I love when people who don't own businesses think they have all the answers. |
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For example, most people here would not know that in Mexico, it's the law that you provide your staff with a Christmas bonus and staff are entitled to a percentage of your businesses profits at fiscal year end. So while most of my staff make between $450-$600 a month, they get a sizeable amount of money at the end of the year. This is one of the reasons they work so hard. They know that the stronger they perform, the better the business does, and the more money will they will make. |
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You act like business adaptation is simply impossible. The companies that go under due to the PST would have done so regardless. You are acting like other provinces do not levy taxes on restaurants when in fact the majority already do. |
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