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How Trump Is Handling The Restaurant Biz Amid Coronavirus Outbreak

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How Trump Is Handling The Restaurant Biz Amid Coronavirus Outbreak

U.S. President Donald Trump held a conference call Tuesday with restaurant executives to discuss financial support for the industry.

An unnamed industry executive said during the conference call the government should take action to support small business owners financially, according to CNBC. The executive said a cash infusion is needed to not only keep employees on the payroll but resume growing once the coronavirus pandemic stabilizes.

A source with knowledge of the call told CNBC that Trump responded: "I think you're really going to like what we're doing."

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A Wendys Co (NASDAQ: WEN) spokeswoman told CNBC the company is "grateful that the White House sought our collective industry experience."

Similarly, a statement from Domino's Pizza, Inc. (NYSE: DPZ) said that Trump expressed his support for the industry and keeping people at work.

In total, 12 restaurant executives were on the call along with National Retail Federation's Matt Shay. The other U.S. government officials on the call included Treasury Secretary Steven Mnuchin, economic adviser Larry Kudlow and Tim Pataki, director of the office of public liaison, according to CNBC.

See Also: How COVID-19 Is Impacting Restaurants

Federal Guidelines: Avoid Crowds

Trump said on Monday that he recommends the American people "avoid gathering in groups of 10 or more people," and this includes eating at restaurants or gathering at pubs.

But Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, said restaurants, food courts and other venues where people gather should be outright closed.

Uber Eats Lends A Hand

Ride-hailing and food delivery company Uber Technologies Inc (NYSE: UBER) is lending a helping hand to the restaurant industry. The company said Monday it will eliminate delivery fees for more than 100,000 independent restaurants across the U.S. and Canada.

Uber will also advertise its promotion and emphasize the benefits of local restaurants. Restaurant owners will also receive daily payouts instead of weekly payouts.

Finally, Uber Eats said it will provide more than 300,000 free meals to health care workers and other professionals.

Meals To Go

Here is a list of several restaurants that remain open for delivery or take-out.

  • Domino's Pizza: 50% off all pizzas for online orders through March 22.
  • Little Caesars is offering free delivery on online orders of at least $10.
  • Chick-Fil-A is closing its dining room area but offering meals to go.
  • McDonald's Corp (NYSE: MCD) restaurants are open only for a "walk-in-take-out" or drive-thru.
  • Shake Shack Inc (NYSE: SHAK) restaurants are all "to-go."
  • Texas Roadhouse Inc (NASDAQ: TXRH) is offering all meals in to-go boxes.

Photo courtesy of Shake Shack.

 

Related Articles (DPZ + WEN)

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