Coronavirus impact on the nations Food Industry, Small Business can be heard from representatives of the industry on supply chain issues, loss of customers, perishable food than facility cleaning and maintenance, this is just over 90 minutes. I call this hearing to order. Without objection the chair is authorized to declare recess at any time. I think everyone especially our witnesses for joining us today for our committees private hearing. I want to note some important requirement. Let me begin by saying the Committee Rules and practice continue to fly during hybrid proceedings. Members are reminded they are expected to adhere to these rules including decorum. During the period designated by the speaker the committee will operate in accordance with House Resolution 965 under subsequent guidance from the rules committee in a manner that respects the rights of all members to participate. House regulation requires members to be visible through video connection throughout the proceedings
To participate in another proceeding please exit this one and like back in later. Any that a member encounters technical issues that prevent them from being recognized from their questioning i will move to the next available member of the same body and will recognize the member of the next appropriate timeslot provided they have returned to the proceeding. In the event the witness loses connectivity during testimony or questioning i will preserve their time as staff address technical issue. I may need to recess the proceedings to provide time for the witness to reconnect. Finally remembered to remain muted until you recognize to minimize background noise. Over the last few months the outbreak of covid19 has led to an unprecedented Public Health crisis and creating a dire economic crisis for small firms. Three out of four businesses are experiencing a decrease in revenue and over half of Small Businesses are concerned about being forced to close. Small businesses across the Food Supply
Of mind blowing. Check out these numbers, the six biggest tech stocks losing more than 1 trillion in value in three days apple, microsoft, amazon, microsoft, tesla and facebook. This is kind of unbelievable on the way up, we kind of get i wont say we get used to it. Complacent. We dont quite notice it as much after the split, was apple up 40 or something remember when we were arguing about tesla at 500 a share . Look where it went eastbound the s p was up almost 60 since march. You get these crazy moves to the upside we should have been able to watch this after all these years and how quickly the corrections can come to get that move and have a correction in three days maybe we need to even revise the terms for how we talk about it given what the nasdaq has done, that perspective it is nothing it is not that shocking if you are a longterm investor, this is no big deal. If you were looking at this. Those six stocks losing a trillion in value, they are still up several trillions you are
Here shore but no 90s until tomorrow well take a look at that forecast coming up in a bit part all right dave thanks a lot. Lets get right to our top story this friday morning. Bay Area Health Officials are encouraging everyone to stay home this 4th of july weekend. Now this comes as the state and the bay area continue to see a rise in coronavirus cases kron 4 Sarah Stinson has the latest now from Contra Costa County. In Contra Costa County where coronavirus cases are surging along with the rest of the bay area bad timing as we head into a Holiday Weekend now Health Officials are urging people to celebrate the 4th of july at home. Traditionally we enjoy this holiday by watching fireworks. Nope not happening or go to a parade. Not happening go to the beach. All closed. Instead the governor of california and local Health Officials are advising people to stay home why because of the alarming rise in coronavirus cases and deaths in each county take a look for yourself Contra Costa County i
Weekend. Now this comes as the state and the bay area continue to see a rise in coronavirus cases we want to go now live to kron 4 Sarah Stinson shes in Contra Costa County and walnut creek. She has the latest for us sara. Marty im live here in walnut creek at a safeway where people are getting you know some last minute goodies for the 4th of july a little bit different this year though youre not really buying a ton of food to host a big large group well youre not supposed to at least the governor of california and local Health Officials are urging people to not only celebrate at home. Lets celebrate with only people you live with take a look at why its the numbers that they are referring to and why they are urging people to stay at home this 4th of july weekend. Its because were seeing threatening increases of cases of coronavirus and deaths in each county a lot of numbers on your screen out right now, but to name a few Contra Costa County is seeing a 129 increase in cases a 111 incre