Meeting will come to order. This is the july 16, 2020, special budget and finance committee. Im sandra lee fewer joined by the Committee Members walton and mandelman. Our clerk is linda wong who is assisted by brent. I would like to thank sfgov for broadcasting this meeting. Madam clerk, do we have any announcements. Yes, this the board of supervisors and Committee Room is closed however members will be participating in the meeting remotely. This precaution is due to the state, federal, and local orders. Committee members will attend the meeting through Video Conference and participate in the extent as if theyre physically present. Public comment will be available on each item on this agenda. Channel 26 and sfgov. Org are streaming the number across the screen. Committee members have an opportunity to speak during Public Comment meeting, you can call 4156550001, meeting i. D. 1463207645. Press pound twice. When connected you will hear the meeting discussion and you will be muted and li
Immigration agenda. The Supreme Court ruling with President Trump and supporting his decision to use 2. 5 billion of defense funding to expand the border wall. The justices also ruling that President Trump, saying the president was absolutely correct in focusing on detaining illegals and making it easier for the dhs to detain Illegal Immigrants with criminal backgrounds. The High Court Also agreeing with the president that he does, indeed, have the power to deny green cards to immigrants who require or government welfare and assistance. And the justices also supporting the president s remain in mexico policy, ruling that President Trump expect department of homeland and the department of Homeland Security can return Illegal Immigrants to mexico while they await asylum decisions. This president has not only taken on the powerful open border and amnesty lobbyists and activists who have controlled the congress expect white house for the past and the white house for the past two decades, P
Immigration agenda. The Supreme Court ruling with President Trump and supporting his decision to use 2. 5 billion of defense funding to expand the border wall. The justices also ruling that President Trump, saying the president was absolutely correct in focusing on detaining illegals and making it easier for the dhs to detain Illegal Immigrants with criminal backgrounds. The High Court Also agreeing with the president that he does, indeed, have the power to deny green cards to immigrants who require or government welfare and assistance. And the justices also supporting the president s remain in mexico policy, ruling that President Trump expect department of homeland and the department of Homeland Security can return Illegal Immigrants to mexico while they await asylum decisions. This president has not only taken on the powerful open border and amnesty lobbyists and activists who have controlled the congress expect white house for the past and the white house for the past two decades, P
Month. The Unemployment Rate fell to 11. 1 . That is sparking a rally as investors also ignore rising coronavirus cases. Right now, as you can see, we are hovering just above 26,000. We may hit session highs once again. The dow was up more than 400. We will see if we can kick it up in the last hour. The s p up 34, the nasdaq up 122. This could be the 23rd record close for the nasdaq and second day in a row we got records for the techheavy nasdaq. We shall see. The june jobs report reflecting the reopening of america. Atlantic city casinos rolling the dice on reopening today. The ceo of golden gate casino shares his advice for his competitors after opening his vegas casinos just last month. But gym owners are still waiting for the green light to reopen in many places. Beach body ceo and founder on gym owners rights to the workathome boom. And its ipo day for lemonade. We will talk to the ceo of the insurance app thats targeting millenials and disrupting a very traditional industry. Less
A much overdue look at the cyclical rally and the reopening story in general the v rally that a lot of people have been hoping for has been inverted theres an inverted v thats actually been happening. Lets start with Energy Stocks marathon, mro. Marathon was 6 at the start of the month. It goes to 9 and back to 6. This is essentially an inverted v. Hess looks the same way. If you look at general electric, it goes from 6 to 9, i believe, and goes back down again to essentially 6 and change, same situation, a v there caterpillar looks the same way united airlines, we watched with our mouth open it goes from 30 to 50 and back into the 30 range, all of this in a few weeks the market cap of citi group goes to 60 and back essentially to 48 thats what im talking about these inverted vs travel and les yoisure, 30 to. Youd think bond proxies would do well in this environment, but not today. They had a modest rise about 10 in the last few weeks, but even they werent safe. The market has voted it