Abc7 news anchor liz kreutz is live now to give us the big picture perspective of what this means. Liz . Hi, kristen. Weve been talking a lot about our local businesses and how theyre doing, but these numbers out today give a really big picture look at the overall toll retail is taking right now because of this pandemic. We spoke to the president of mountain hardwear based in richmond to get his take on what all of this means moving forward. Weve all seen it, the crazy online discounts. 80 off ann taylor, 60 off j crew, macys. While it might sound nice, something detrimental is happening to the retail business. But just how bad it is . What is the state of the Retail Industry right now . Its at a stand still. The president of richmondbased mountain happ hardwear. Despite Curbside Pickup beginning this week in the bay area, even at places like rei which sales their products, he says he is not holding his breath. I dont see that changing anything significantly. I dont think consumers eve
Tonight. We begin this evening with a bay area teen that may be closing in on a potential treatment for covid19. It relies on our own immune systems, our own bodys ability to fight off infegs when invaded by a virus. Now a South San Francisco doctor says his work is taking the next step. Abc7 News Reporter chris nguyen has the story. In the race to find a cure for covid19, theres new hope from bay area scientists who have been working around the clock. Good to have big dreams, big dreams got us to the moon. Reporter you might recognize dr. Jacob glenville from the Netflix Docuseries pandemic. Hes the president and ceo of distributed bio, which is developing an antibody therapeutic to treat the Novel Coronavirus. If your loved one has to go to the hospital. We give them the therapy and instead of getting more sick, they get better rapidly and go home. The minute we have an antibody therapy we can end the crisis. Three independent laboratories including one at stanford yufr Stanford Univ
New home for tesla , elon musk threatened to move the company out of the state when production was blocked. And today Governor Newsom was asked if they would do something if tesla took off . I am not worried about him leaving anytime soon, we are committed to the success in innovation of the economy that he has promoting for decades. And i think it is in all of our interest to find areas of common ground. Reporter the fremont plant fully reopened after the company signed off, tesla is looking at austin, texas as their next factory to produce the crossover and the cyber track. Following a breaking story out of los angeles. Chp is involved in a highspeed chase that reached speeds of 120 Miles Per Hour. They are following a white suv. This started on the i5 freeway near the burbank airport. This vehicle just exited the freeway going around surface streets. It looks like hes getting back on the freeway. A lot of people know this is where movie studios are and quiet neighborhoods. It looks
Stephanie sierra has been tracking this for weeks and she joins us with the latest. Stephanie . Congress has single out quantum corporation, a Data Storage Company based in san jose for refusing to return 10 million in federal funding. And as of today, its not looking likely that will happen. If there is anybody out there that misuses this program, we will find you. This is House Minority leader Kevin Mccarthy nearly a month ago. The congressman urging big Public Companies to return federal funding intended for small businesses. You will not want the reputation that you will soon get if you take advantage. But it appears that warning doesnt cushion quantum. The data storage giant someone of five u. S. Companies singled out by a congressional select subcommittee that quantum return funds immediately and clearly pointed out the company that has a market value over 150 million doesnt meet the qualifications to be eligible for the help. It is possible that they will get in trouble. I spoke
Encourage more aid. So far the senate has no plans to take the bill up. Starks lower on wall street given back some of the big game the dow lost 390 points just over 1. 5 and the nasdaq dropped 49 points and s p fell 30. Banks, healthcare and household roads were on the sector on the downside. 4 million americans should soon get there stimulus payments on a prepaid debit card. The cards will be mailed to people who are eligible but have not gotten their checks. The irs said many of those are taxpayers that typically do not receive a refund through direct deposit and only one debit card will be provided per family and the cards can be used withdraw cash, transfer money to a personal bank account or make purchases. President trump mention the bay area today in a tweet about the federal funding for transportation. The money is intended to help strapped transit agencies experiencing low ridership due to covid19. President trump from the white house announcing u. S. Farmers and ranchers aff