And the nasdaq tumbled 1. 05 , you need to understand this is a redistribution its not a bet on the future, its a wager that some earnings estimates are going higher while others just stay the same and judging by the intraday reversal, investors are starting to realize that we may be a little too enthusiastic about stocks in general. Even if some do deserve to be higher because of changes that are going to be made to taxes in this country today truly brought a bifurcation in stocks. The action was 100 about tax reform Domestic Companies get a big cut while more internationallyoriented Companies Like most of tech see much less of a benefit sure they can repatriate capital from overseas at a better rate, but the real benefits here are for the purely domestic players. Its Like Congress has waved the magic and with and every cable company, railroad, retailer, restaurant as well as a smattering of industrials that have great u. S. Exposure and that has radically raised earnings for 2018. No
Kim has made a month eggs to continue. Seconded by supervisor cohen. Supervisor peskin . Councillor peskin colleagues, im rising to speak to both 56 and 57. And without any disrespect to the mayor or supervisors ronen or sheehy, and not to the substance, but to the use of an emergency exemption, and if you read section 6. 60 subsection c which defines what an emergency is, respectfully, this does not meet that test. I mean, i can ask the City Attorney, i dont know if i need to put the City Attorney through the paces, but these were all foreseeable events. An emergency is an unforeseeable event. And its a really slippery slope when we start applying Emergency Declarations where an emergency does not exist because it was a foreseeable event. 440 turk street, highly foreseeable. This board took unanimous legislative action to not allow the department of homelessness and Supportive Housing to use a different site and to require them to use the 440 turk street site, so weve known that for q
Heard next, has the sunset 56 really just focused on 440 turk, and again, i would just echo what supervisor ronen said earlier about the fact that we are experiencing an emergency on our streets. We all see it every day. My staff and i see it. I think even more acutely with the people who are out, trying to assist and to get indoors. And i also just want to add that i do think that we do have data emerging, and i think we just saw with the release of huds report with homelessness rising in every single city on the west coast. In most cases, double digit increases, and terrific hsan f has managed to have a slight reduction. I dont think we should be celebrating a point count until the number is zero. I think that is in part due to the opening of Navigation Centers and permanent and supportive housing. Thank you, madam president. I have no other questions. Can you, supervisor cohen. Supervisor yee . Supervisor yee thank you, president breed. So we had this special will you jet committee
Of the highest order. As a matter of fact, theres a hepatitis outbreak in los angeles that is spreading into the streets that could easily come to san francisco. There are people dying in fires that are started in tents on the streets and moving to other tents. I dont know what else could be a greater emergency. If were not in every single building and every single district with every single ounce of political will we have all working to solve this issue, as a crisis, and in an emergency fashion, then we are failing to do our job. So i absolutely could not disagree with you more, supervisor peskin, and will not support a continuance of item 57 and only reluctantly out of respect for supervisor kim will support a continuance for item 56. Councillor breed thank you. Supervisor tang. Councillor tang i agree with supervisor ronen in this case. And per the budget analyst report, without this Emergency Declaration, the work will continue 12 to 18 months to complete and with this Emergency De
To put the City Attorney through the paces, but these were all foreseeable events. An emergency is an unforeseeable event. And its a really slippery slope when we start applying Emergency Declarations where an emergency does not exist because it was a foreseeable event. 440 turk street, highly foreseeable. This board took unanimous legislative action to not allow the department of homelessness and Supportive Housing to use a different site and to require them to use the 440 turk street site, so weve known that for quite a long time, because that happened six months ago. Thats foreseeable. I hate to be the parliamentarian, but im sounding a note of caution that we should really use the admin codes as intended and, therefore, will support the continuance. I would actually support a continuance of both items. And, quite frankly councillor breed we have not called item 57 councillor peskin it says it on the screen. Councillor breed thats a mistake. She called 56. Supervisor kim, are you as