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BiggTim

Crap - another closure.....FHCAM

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Posted (edited)
14 hours ago, MikeMaben said:

 

Somebody needs to splain this to me. If there's a market (demand) for something,

why would it (supply) go away and never come back ?     :shrug:

Very simple.  The cost to house and maintain their exhibits and infrastructure don't go away due to Covid.   At some point every business reaches a tipping point where they can't sustain those costs with no incoming revenue.  At that point, you call it quits and sell off what assets you have to pay your creditors.  

 

Even when they are allowed to open, it's going to be years before their business returns to 2019 levels.   They apparently made the sad decision that they can't wait that long and are closing the doors. 

 

 

Edited by LSP_Mike
Keep political comments out

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The same way people who have lost their jobs and their income are having trouble paying their mortgages and rents.  No different for a museum whose main source of revenue is people visiting.  They don't have limitless resources.

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Posted (edited)
15 hours ago, STWilliams said:

I'm sure it will open again, even if in a different form or even location. It was profitable before, it will almost certainly will be again, and money talks.

How do you know it was profitable?   This guy spared no dollar to do things the right way.  Their overhead must have been massive.  

Edited by John1

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This is very sad. I have only seen their collection online but planned to go this summer. Maybe they will be absorbed into the Museum of Flight at Boeing. 

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1 hour ago, AlbertD said:

This is very sad. I have only seen their collection online but planned to go this summer. Maybe they will be absorbed into the Museum of Flight at Boeing. 

I hope not. MoF is not my favorite, but they do have some cool stuff. FHCAM is way better.

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3 minutes ago, BiggTim said:

I hope not. MoF is not my favorite, but they do have some cool stuff. FHCAM is way better.

MoF would probably not have the room anyway. I was really hoping to go when they had a fly in. I especially wanted to see their P-47 in the air.

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Oh crap.  I was planning a trip at some stage in the future and that museum was high on my list of attractions.  Seems everything is shutting down right now.  I had a trip booked for England this year which obviously won't go ahead, and now I'm getting emails from the hotels saying they're closing down for the entire season.  You have to wonder what shapes the world will be in after another year. :(

 

 

Cheers,

Michael

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9 hours ago, John1 said:

Very simple.  The cost to house and maintain their exhibits and infrastructure don't go away due to Covid.   At some point every business reaches a tipping point where they can't sustain those costs with no incoming revenue.  At that point, you call it quits and sell off what assets you have to pay your creditors. 

 

I understand all that. It seems to me it would be a win-win situation if they could reach an agreement with their creditors

to suspend payments. If they settled their debts with the creditor it would be a one time profit for the creditors and then what ?

The empty property isn't likely to be snapped up by someone else so it would be a losing proposition for both parties. Yeah I

know about property taxes and such but this is all snowballing downhill somebody's gonna have to give. It 'is' temporary.

 

A tourist visiting the area drives through town, stops at the motel, and lays a $100 bill on the desk saying he wants to inspect the rooms upstairs to pick one for the night.

As soon as he walks upstairs, the motel owner grabs the bill and runs next door to pay his debt to the butcher.  

The butcher takes the $100 and runs down the street to retire his debt to the pig farmer.

The pig farmer takes the $100 and heads off to pay his bill to his supplier, the Co-op.

The guy at the Co-op takes the $100 and runs to pay his debt to a lady, who has also been facing hard times and has had to offer her "services" on credit.

The lady rushes to the hotel and pays off her room bill with the hotel owner.

The hotel proprietor then places the $100 back on the counter so the traveler will not suspect anything.

At that moment the traveler comes down the stairs, states that the rooms are not satisfactory, picks up the $100 bill and leaves.

No one produced anything. No one earned anything..However, the whole town is now out of debt and now looks to the future with a lot more optimism .   :clap2:

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13 hours ago, Out2gtcha said:

 

 

 

Phoenix was a blast, and we should definitely hit up a drink somewhere.  

 

13 hours ago, BiggTim said:

Keep me posted, it would be fun to drive over and buy you a pint, or something harder!! Or maybe just dinner somewhere!

 

Definitely! :):beer::beer4:

Radu

 

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21 hours ago, John1 said:

How do you know it was profitable?   This guy spared no dollar to do things the right way.  Their overhead must have been massive.  

That's why I wrote "if".

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3 hours ago, STWilliams said:

That's why I wrote "if".

You wrote “It was profitable before”.  I was curious as to how you knew this.  

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