Good morning the meeting will come to order the february 28 budget and finance im connie chan chair, im joined by vice chair mandelman and melgar. Our clerk is brent jalipa. And i want to like to thank corewin cooley from sfgov. Org for broadcasting meeting. Thank you a reminder those in attendance make sure to silence Electronic Device not to interrupt our proceeding fist you have documents as part of the file submitted to myself the clerk and Public Comment on each item on the agenda. When your item come up and Public Comment is called lineup on the west side to your right, my left. And not necessary to provide comment we invite to you fill out a card by the doors. If you wish to be recorded for minutes you may submit comment in writing. E mail them to mis the budget and finance clerk at brent. Jalipa sfgov. Org. If you nit e mill tell be forwarded to the supervisors and included as part of the official time send written comments by u. S. Postal service to city hall 1 dr. Carlton b.
And leaving more People Holding the bag. Speaking of those meme stocks, gamestop, up more than 20 off its highs of the session, amc up more than 30 . Also off the highs. Additionally, names with high short interests, nova, virgin galactic, plug power on a move as a result of the meme return. Now on the Broader Market front, the dow given up its Early Morning gains. Lower by 19 points. S p up 4 points. And the nasdaq up a third of a percent. Chinese tech on the move. Alibaba down 7 posting an 86 profit drop, kelly. And google, holding a major developer event announcing a new version of gemini ai. The stock only up fractionally today. But well have a lot more on that in a minute. First, an update on the bid for paramount and david faber has the details. Hi, david. Hey, tyler. As you guys well know, ive been following this closely as i did 30 years ago. Another saga perhaps worthy of its own movie is the battle for paramount. Some things to add to the mix today because we have been very m
Good morning for our audience worldwide, this is bloomberg surveillance on tv and radio alongside tom keene and lisa abramowicz, im jonathan ferro. Just about positive on the s p 500. Tom not your father strike. When i saw it, they nailed it about the 10 00 p. M. Stock. This is an original strike going back over to uaw history, back to 1958. Into real challenges before world war ii. It is an original strike, a selective strike, that is what is new. Jonathan gm said they offered unprecedented package. From ford, the union made little movement. Rambo, we have not heard from this white house, have we . We are waiting for a statement from the president. Lisa hit the he did speak with the leaders and auto manufacturers. What did he tell them at a time where his policy is contradictory . In one hand hes pushing for electric pickles and a lot of the vehicles are pushing back on yet they are helping some of the auto manufacturing with those. On the other hand, it is it is the most prounion in
Is here to tell us when his fund will launch and at what price. If you have crypto fever, you dont have to look away from the screen we have our bitcoin watch fired up throughout this hour. First we start with the dow on fire both the dow and the s p 500 closing at a record high, the dow 150 points at the high both indices posting their fourth day of gains, with the help of tax cuts on the horizon. It looks like a deal on the bill is close lets get to ylan mui in d. C reporter melissa, republicans are closing in on the final version of the tax bill two sources tell me the corporate rate will land at 21 . Its unclear whether that will kick in right away or not until 2019 but that is slightly higher than the 20 rate that was in previous versions of the bill. The top individual rate, that would fall to 37 . Thats lower than the senates original proposal for a 38. 5 top rate the detection fduction for morte interest, would only apply to new loans. Existing mortgages would still be grandfat
Broadcast. Madam clerk, do we have any announcements today . Yes. Please silence all cell phones. Items will appear on the january 9th, 2018, agenda unless errwise stated. Thank you. Were Getting Started late today. Well try to make up the time as we go. I want to thank you for your patience. Madam clerk, can you call item one. Regarding sorro commons. This is item one. Mayor lee is a sponsor of this particular legislation. Weve got amy chan from the department of housing to represent the housing and community development. As a refresher, supervisor tang, they need more time to resolve the outstanding issues with the lender, and they request that we postpone this. I would like to give ms. Tang an opportunity to expand on this a little bit more. Good morning. Thats correct. Were asking for the call of the chair. Were hoping to resolve the issues be the lend ever before todays meeting, but we have not come to an agreement. Well work diligently and well be coming back in the early next ye