Boycott Ruth’s Chris Steakhouses

Because as someone pointed out above, large companies have access to funding that actual small businesses do not. Imagine a well-fed person who can afford to feed themselves getting in line at a soup kitchen thereby depriving someone who could not afford food a meal.

not my real name wrote:

stop being pissed at companies who play by the rules. You want to be "outraged?" Fine, go ahead. Be outraged that congress didn't put restrictions on the aid package that would have made YOU happy.

Again, all of these "big bad companies" have employees, who have roofs to pay for, mouths to feed, etc. Just b/c they have access to low interest LOC (according to you!), they should be ineligible? In the words of an elderly presidential candidate, "C'mon, man!"

Yes, big companies have employees but they also have assets and resources and can borrow at more favorable rates. That's why they are big. The PPP program was intended for small businesses, not franchises. Franchised McDonalds and Subway have employees too, should they be eligible?

Restaurants like RC have huge built in advantages over the mom and pop restaurant owner that started their business from scratch. If Congress wants to give help to airlines or Boeing or McDonalds they can do that, and maybe there is good reason. But leave PPP for true small businesses for whom it was intended.

I agree with the OP and RC should be ashamed.

facts and reason wrote:

money before people wrote:

All they did was steal $20 million that is needed by actual small businesses.

Also, boycotting Potbelly Sandwiches for the same reason.

Both of these businesses will never see another dime from me, my family or my friends.

EVERYONE SHOULD SUPPORT LOCAL SHOPS THAT ARE FAMILY OWNED.

More of your money will stay in your town if the owners have children that go to the same public schools as the kids in your extended family.

Check out the local diner, pizzeria, deli, cafe, bagel shop, or bakery in your town instead of big corporate places that will take the profits out of your state.

If those family shops were run efficiently by people who knew what they were doing, they would be chains:) Seriously you can buy inefficiently if you want (i.e. don't go to the supermarket, but some local corner place) but in general society works better if people are efficient. The money I spend at the supermarket goes to your state, the money you spend at amazon goes to mine, and in the end we all end up richer.

If you like a place you should shop there. If you don't, you shouldn't support them.

I love me some great steak but damn 100 dollars for a steak and a pop is crazy. Especially when you can spend twenty bucks and make one that's damn near just as good on the grill.

Read the stories about the shenanigans that went on with Ruth's Chris a few years ago in the city where I live, Waltham, Mass. A new Ruth's Chris location in Waltham was miraculously issued a FREE liquor license after the licensing commission "found" an extra license that was supposedly intended to be issued many years before to a golf course that was never built. A small restaurant owner who wanted a liquor license was told to buy one at market rate from an existing license holder.

VroomVroom wrote:

I love me some great steak but damn 100 dollars for a steak and a pop is crazy. Especially when you can spend twenty bucks and make one that's damn near just as good on the grill.

Sure but that requires me to spend 30 mins cooking. That's a 250 dollar steak...

The PPP is a FORGIVEABLE loan as long as it is used to pay employees. Large companies do not have access to other forgiveable loans to pay their employees. Many large business owners do not want to incur incalculable amounts of debt in order to keep paying employees. They want to keep their employees, but they don’t know what it would cost to do so because no one knows how long this will continue. That is why Marriott, Cinemark, Disney, Dicks Sporting Goods, and so many other large companies have halted pay or furloughed workers.

dadsfadsfdasfdsafdas wrote:

If those family shops were run efficiently by people who knew what they were doing, they would be chains:)

There are countless small businesses who have ABSOLUTELY NO INTENTIONS of ever having more than one location. My experience has been that many "chains" are started by investors who buy a business from an individual who had no interest in franchising or owning multiple locations.

par for the course wrote:

really wrote:

Well, I am one of the small business owners that didnt get any payroll protection and it will hurt my business. My employees I laid off are getting $450/week +$600 =;$1050/week to do nothing. At least RC is going to pay people money to do something. In california, if you are an illegal immigrant or homeless they will pay you money to do nothing. Lifelong democrat who will drink my own piss before i vote democratic

What Trump supporter isn’t willing to drink their own piss?

Real science: Almost half the population may be infected with a mysterious virus that makes people stupid

You should see a doctor ASAP.

JohnMD1022 wrote:

Real science: Almost half the population may be infected with a mysterious virus that makes people stupid

https://www.naturalnews.Com/047605_stupid_virus_cognitive_function_gene_expression.html?fbclid=IwAR11WcXkV4gNoGY3IPdivmfwOEIkbttI0EwNFAvBYmNl1uz5whfrF47th68

You should see a doctor ASAP.

Ahh, now it all makes sense.

What? Every restaurant employee would rather file for unemployment to get an extra $600. per week on top of unemployment until July 31st. Besides that unemployment has been extended for 39 weeks. 39 weeks of $1,000. per month pay. They also relaxed weekly voucher reporting and job searches so you just sit at home! Every restaurant worker should seriously do that instead so these companies have to pay their loans back.

Also, many of the large companies gave their executives large bonuses when they received the PPP. They don't have to bankroll ALL of their employees...just give income to the top few executives as long as it shows as going to payroll.

Lastly, Shake Shack recently got $150. MM in investor funds within 1 week. They didn't need the $10MM. They also have access to large lines of credit, etc as well as investor funding and many other sources of capital besides already having made millions net profit per year.

Many of these companies are paying off higher interest debt with this and giving themselves income knowing they don't have to pay it back as long as it accounts for 75% of the total loan. It surely will not require payback but even if it was, the loan is over a very long period of time at very low interest.

These douche bags held up the funding to ensure they could file and co-erced (largely) JP Morgan/Chase to process their applications first. Chase waited a full 4 days before they sent a mass e-mail allowing smaller businesses to file. Then the site crashed for days after that. My local SBA advised on a larely viewed webinar that self-employed and contractors wait a full week after to apply! That is shady beyond belief.

Ppl go there to be seen not to eat steak

I'd rather eat at a Ponderosa Steak House!

Looks like Ruthless Chris is digging in and have no intention of returning the loan like Shake Shak did.

Always wondered why it was named "Ruth's Chris Steakhouse."

https://en.wikipedia.org/wiki/Ruth%27s_Chris_Steak_House

Frusen Glädjé wrote:

Is it Ruth's Steakhouse? No

Is it Chris's Steakhouse? No

Is it "Ruth Chris's" Steakhouse?" No

It's Ruth's Chris Steakhouse.

Doesn't make sense. Should be Ruth's Chris' Steak House.

It was just announced that Harvard and others will be giving back the loan money. An FAQ will be given out. Those that give back the money quickly who should not have requested it will not face any actions.

bladerunner wrote:

I like their steaks, even better than Morton's or Capital grille. I'm glad they are staying in business.

As a vegan, I'm offended. Why aren't we taking down 5-G towers?

money before people wrote:

This company grabbed millions of dollars from the PPP by cheating. They applied separately as LLCs for all 150 locations, thereby qualifying for each loan by having ‘less than 500 employees.’

Screw this chain. Their steaks suck anyway compared to Maestros, BLT, Fleming’s and Capital Grille.

This goes for most chains. Although most chain restaurants are franchised, so maybe owned by a local person, they are backed by a corporation in times like these. But tom's deli or John's pub are not. Support local.