Market Overview

Tilman Fertitta Blasts 'Selfish Politicians,' Talks Unemployment In Restaurant Biz

Tilman Fertitta Blasts 'Selfish Politicians,' Talks Unemployment In Restaurant Biz

Hospitality and restaurant entrepreneur and Landry's CEO Tilman Fertitta has a simple message to politicians: you get your full paycheck no matter what, and we don't even get 25%.

'Selfish Politicians': A disconnect exists between hospitality companies and local and state politicians, Fertitta said Tuesday on CNBC's "Power Lunch." Politicians in New York City are collecting their full salary but continue to ban restaurants from operating at 25%, he said. 

The latest COVID-19 update shows that New York state cases are reaching new lows that haven't been seen since mid-March, Fertitta said. 

"Mayor de Blasio and Gov. Cuomo are getting their paycheck every single week but they aren't worried about all of my hourly employees that don't make any money," he said. "They aren't worried about my salaried employees that are still on furlough now."

The politicians simply don't understand the "pain" entrepreneurs are going through, Fertitta said. The people need to "revolt" and make sure the "selfish" politicians understand what's going on at the ground level, he said. 

Outdoor Dining: Outdoor dining is viewed as a much safer alternative to eating indoors. But once the cold months come and what little tourism that exists slows down, the hospitality, leisure and restaurant sector will be impacted, Fertitta said.

"Business is going to get worse for everybody in the hospitality industry."

Recovery In 2022, Maybe: Under an optimistic outlook, the hospitality and food industry won't recover until June 2022, Fertitta said —  but this may be overly optimistic, as the hospitality industry didn't fully recover from the 2008 and 2009 economic crisis until around 2015, he said. 

Related Links:

Tilman Fertitta Makes The Case For PPP Availability To Big Business

Coronavirus Vaccine Developer Moderna's Q2 Report: What To Expect

Photo by WhisperToMe via Wikimedia


Related Articles

View Comments and Join the Discussion!

Posted-In: CNBC Coronavirus Hospitality Power Lunch Tilman FertittaRestaurants Media General Best of Benzinga