Id like to enter the following announcement into the record that on february 25th, 2020, the mayor declared a local state of emergency related to covid19. Furthermore, the mayor and governor have suspended suspending select laws applicable to commissions and making it possible to hold Commission Hearings remotely. And on april 3rd, there was authorization from the Mayors Office to reconvene remotely through the end of the shelterinplace. Recognizing that the commissions consideration of certain projects is an essential government operation. And it directs the commission to prioritize the action items pertaining to infrastructure and housing and Small Business. And i will also in advance remind members of the public, staff, and the commission that this platform is not perfect and that at times becomes clumsy. We have learned that at ts bridge conference is finicky. So in advance we do request your patience. There are built in delays in broadcast from the live events to sfgovtv and the a
Authorization from the Mayors Office to reconvene remotely through the end of the shelterinplace. Recognizing that the commissions consideration of certain projects is an essential government operation. And it directs the commission to prioritize the action items pertaining to infrastructure and housing and Small Business. And i will also in advance remind members of the public, staff, and the commission that this platform is not perfect and that at times becomes clumsy. We have learned that at ts bridge conference is finicky. So in advance we do request your patience. There are built in delays in broadcast from the live events to sfgovtv and the audio feed into the live events. So enable the Public Participation sfgovtv is broadcasting and streaming this hearing live and we will receive Public Comment for each item on todays agenda. Sfgovtv is broadcasting and streaming the tollfree phonein number across the bottom of the screen. Comments and opportunities to speak during the Public C
Housing and Small Business. And i will also in advance remind members of the public, staff, and the commission that this platform is not perfect and that at times becomes clumsy. We have learned that at ts bridge conference is finicky. So in advance we do request your patience. There are built in delays in broadcast from the live events to sfgovtv and the audio feed into the live events. So enable the Public Participation sfgovtv is broadcasting and streaming this hearing live and we will receive Public Comment for each item on todays agenda. Sfgovtv is broadcasting and streaming the tollfree phonein number across the bottom of the screen. Comments and opportunities to speak during the Public Comment period are available via phone by calling 8882733658. And entering the access code 3107452. Pressing pound. And pound again. And when we request Public Comment, you will be directed to press 1, and then 0, to enter into the queue. You will be lined up in the order that you press 1 and 0. A
Cramer, david faber coming to you live from separate locations this morning its risk off following those onemonth highs from yesterday empire and retail sales for march were abysmal the worst on record. Below Expectations Oil below 20 earnings from citi, goldman, bank of america showed the major banks are, as expected, bracing for a wave of defaults some more than others when you look at the percentage of the total loan book at jpm and city. Jpm is the one that people decided wasnt that great. When i look at it, i think it had to do with tone. Jpmorgan, the crucial lines were something that were uttered by jamie, which were, look, may is not realistic. It will be june, july. The problem with basing everything on that is that you dont realize these banks are much more much better prepared than we thought you have a citi thats down from its tangible book value, its actual youll have multiples that are incredibly low because people feel the dividends are in question yet you have a tremend
Pro problems that threaten prosperity and exploring solutions. It is 100 clear to us that the cost of inaction is higher than the cost of action. We are going to follow those rules. Time is running out to address Climate Change, so i think it is right to hold our feet to the fire. Abigail its all straight ahead on bloomberg best. Abigail hello, im abigail. Doolittle. Welcome to a special edition of bloomberg best with highlights fromed the 2019 Bloomberg Global business forum. This annual event brings together most influential leaders in business and government to address the most pressing global challenges and explore opportunities for solutions. The theme of this years conference was restoring global stability. The Prime Minister of india delivered the keynote address and joined Michael Bloomberg on founder of bloomberg philanthropies and llc onstage for a conversation. We believe the earth is our mother, and we do not have the right to exploit our earth. We are only have the right t