4 Burst results for "Boston Visit Bridge Bank Dot Com"

"boston visit bridge bank dot com" Discussed on Pro Rata

Pro Rata

09:20 min | 6 months ago

"boston visit bridge bank dot com" Discussed on Pro Rata

"Show silicon valley rolls out contact tracing and the end of Memorial Day weekend traffic the first an economic cold war so week both Congress and the Nasdaq made it harder for Chinese companies to list their stocks in the US due to growing concerns over accounting practices and shareholder rights. The big picture here is that this is part of broader economic tensions between the two countries over trade and Homeland Security and more recently the corona virus. But it's also quite specific to what information Chinese companies do and often don't share with US regulators for example. Take the case of luck and coffee. It's kind of become the poster child for this is kind of China's homegrown version of starbucks and went public on the Nasdaq last year. At a whopping three billion dollar valuation later traded up to thirteen billion dollars but then early this year a hedge fund publicly accused luck and of cooking the books and the company eventually cop to it firing both CEO and see. Oh but what it didn't do was provide Nasdaq with the information. Nasdaq wanted so this week. Nasdaq sent a so called. Delisting notice which means that stock would no longer be able to trade here but that wasn't it. Nasdaq also amended. Its overall rules requiring greater transparency into accounting practices before letting any company list regardless of location and also putting new limits on insider control then yesterday the US Senate got into the Act. Passing a bipartisan bill. That would require Chinese companies Chinese company specifically to establish that they are not owned or controlled by their government. Here's Louisiana senator. John Kennedy speaking ahead of the vote which passed by unanimous consent. And I do not want to get into a new Cold War all now want and I think all the rest of us want is for China to play by the rules. The bottom line it is going to be harder for Chinese companies to list their stock in America and some the currently do might soon lose that right. In twenty seconds we go deeper with Alexandra Stevenson The New York Times. The first this bridge bank knows the INS and outs of business. Ups and downs and remains dedicated to providing financial solutions to sponsor back emerging technology and growth companies for nearly two decades through its national network of banking teams in offices in tech hubs across the country including San Francisco. Seattle DENVER. Chicago and Boston Visit Bridge. Bank DOT COM to learn more bridge. Bank is a division of Western Alliance Bank Bridge Bank. Be Safe Venture wisely. We're joined now by Alexandra. Stevenson a Hong Kong based business correspondent with the New York Times. So I was under. Let's start here. Can use walk us through a little bit of the luck in coffee? Saga is it simply a COO. Who decided to cook the books to make the numbers look better for Wall Street question and one that I can answer a little about the company and background. They had this sort of audacious goal year ago that they told Wall Street about they sold it successfully that they were GonNa take on starbucks in China. The time they were unprofitable in burning through cash. Barely two years old by a lot of Big Wall Street. Investors were interested in bought the pitch and up until January. This year. I mean the company was audited twelve billion dollars and then in April. Things kind of imploded. When the company disclosed they have this accounting fraud that a good part of their revenues from last year made up there. Susa be prevailing consensus here in the US and financial markets in the US that the accounting practices of many many Chinese companies aren't at least to US standards and that what we saw at luck in it is easier for that to happen at say luck and then it would have been at starbucks because the accounting is that a fair charge from your perspective. I think the issue is really transparency. And that's where all these concerns stemmed from Chinese companies hide behind regulators. And whenever there's a request from the Securities and Exchange Commission in the US or from accounting officials. When there's a request for information for documents from a company often the response from regulators. China is that's national security and no we're not going to give you access to documents into a creates the sense that there's something hot the. Us China Economic Security Review Commission did a report last year where they looked at one hundred fifty. Six companies are listed. Chinese companies are. Listen you ask with like a collective market value of more than a trillion dollars and the report and the commission found a significant number of these companies had actually denied access of information requested by the Accounting Oversight Board in the US. Are there any teeth in that? We'll get into a congress just done but historically okay so the SEC asked for this information company says no because of national security concerns. Does anything happen after that or is it just does the SEC. Just throw up its hands and say okay the SEC throws up his hands and says Oh okay and we heard earlier this year. Jay Clayton basically chairman of the SEC. Say This is an issue. There's not much we can do and for years the SEC. Previous chairs of complained about this issue becomes diplomatic one and at the end of the day. There's very little that Regulators can do all the paperwork and everything is in another country. They can't physically access. Now you are seeing some tightening. You have the Nasdaq amending. Its rules to basically target Chinese companies without explicitly saying they are targeting Chinese companies and then have the Senate pass this bill yesterday big picture. Why do Chinese companies care about listing on your exchange or the Nasdaq when they can listen? Shanghai listen Hong Kong. Why does it even matter to them? The second question in fact over the past year. Hong Kong has loosened some of its tighter restrictions on listings on its exchange and China's pushing for more Chinese companies that are listed in the. Us have a second racing in Hong Kong so we may actually see more of a move towards coming through. Radio is in the. Us during second listing in Hong Kong by generally the most money is on Wall Street and so at the end of the day most companies in China's still want to be able to tap and access that the pool of capital which Shanghai you're not GonNa have quite and Hong Kong you know it's remains to be seen. I guess in the future but really the goal for a lot of companies still Nasdaq or New York stock. Exchange this issue and again Congress and Nasdaq. Is this all kind of bespoke issue? Which is from your perspective. Obviously specifically tied to accounting and state control is it in part part of this kind of larger kind of us. China tensions which we have seen in terms of national security which we've seen in terms of trade. We're certainly seeing in terms of corona virus in other words. Is this kind of isolate on the wall. Street side of things. I would say this decoupling but on the Wall Street side right. You've seen China Hawks in Washington for some time now arguing that there are issues with the relationship between the US and China and this is just an extension of that and sat group is trying to cut off. American capital Cutoff Chinese companies from capital in. So this is just kind of part of that decoupling in moves towards the coupling that we're seeing but it's in capital markets. We saw earlier this year. Discussion about whether pension funds should be invested at all in Chinese companies given these issues of transparency and. I think we're only going to see more of this as we get closer to the November election Alexander. Final quick question. Have you ever been into coffee or gotten coffee from London? Yes I Better Cup of Coffee Luck starbucks starbucks about something very much. I'll just say that coffee is Pretty Awful House New York Times. Thank you very much for joining us. Take my final two right. After this with offices in tech hubs throughout the country including Francisco Denver Chicago and Boston Bridge Bank supports the innovation ecosystem wherever it thrives in helps breakthrough ideas actually breakthrough and through its teams focused on technology and life sciences companies and the Equity Investors. Who Fuel Them Bridge Bank delivers responsive? High touch client experience bridge. Bank is a division of WESTERN ALLIANCE BANK BRIDGE BANK. Be Safe Venture wisely now with over my final two and I up are apple and Google which yesterday began rolling out the initial versions of their corona virus. Contact tracing technologies three things to know. I this is often. If you don't want to participate you don't have to which is a not to civil liberties while also self-defeating from a public health perspective to it's been rolled out in multiple. Us states including North Dakota and Bama and twenty two countries and three it basically works by keeping track of WHO? You've been around. If I were standing next to each other there would be little pins and the phone. Basically keep track of that and then if one of tests positive later for Corona virus we would be notified that we have been in contact with someone who had covert although we wouldn't be told the specific person the bottom line here contact tracing is needed for us to return to life as normal or even to the new normal so this is a step in the right direction. Finally we are coming up on Memorial Day weekend and for the first time in memory triple eight does not plan to release data about the number of people taking planes trains or automobiles. Last year was actually the second busiest Memorial Day weekend in history with a record forty three million Americans hitting the road but AAA expects quarantines and lockdowns will bring this weekend's number well short of the thirty one million people who traveled in two thousand and nine at the height of the great recession. So put away your keys and fire up that grill alone. And we're done. Thanks for listening to my producers. Tim Chauffeur's NAM shaven have a great national strawberries and cream day. And we'll be back on Tuesday with another pro rata podcast..

US China starbucks Securities and Exchange Commis US Senate Western Alliance Bank Bridge B Hong Kong Congress The New York Times Alexandra Stevenson Homeland Security Chicago Corona Boston Visit Bridge Bridge Bank CEO John Kennedy San Francisco
"boston visit bridge bank dot com" Discussed on Pro Rata

Pro Rata

04:07 min | 6 months ago

"boston visit bridge bank dot com" Discussed on Pro Rata

"Bridge Bank knows the INS and outs of business. Ups and downs and remains dedicated to providing financial solutions to sponsor back emerging technology and growth companies for nearly two decades through its national network of banking teams in offices tech hubs across the country including San Francisco Seattle Denver Chicago and Boston Visit Bridge Bank Dot Com to learn more bridge bank division of Western Alliance Bank Bridge. Bank be safe venture wisely. We're joined by Senator. Amy Klobuchar senator. Let's start with your initial tweet on Sunday about the possibility of an Uber. Grub merger what you said quote wouldn't be good for you swim. You mean consumers. Why do you feel that way and feel that way because you have these technological firms basically uber being a drive service and grab food delivery and you already have Uber with? Uber eats and when you combine the two of them they would have about ninety percent of the food delivery market at the very time of pandemic when people are clearly relying for their very meals on food delivery like they never thought before and I have been concerned for quite a while any mergers about what's going on with this administration right now and the courts of course it's not all about the administration and then so many have been allowed to go through and as we know big is not always better and the last thing you WanNa do quotes competition when small businesses are hardly able to hang in there. And if idea that they would have ninety percent of the market. We're just ninety percent come from because my understanding is they'd have about half the market because door dash currently has about half the market. Yeah well what it means is that it would further concentrate the ninety percent into the hands of just two companies when you combine them and you are correct in terms of the percentages. It's forty eight to about fifty. Five is the estimate of the two of them combined but yet I will say in certain cities New York City seventy nine percent of the market in Miami Sixty five Chicago Sixty Boston. Sixty eight because door DASH has less of a presence there about these companies. Is that both Uber. And GRUB endured ash they're all unprofitable and generally which really means often. They're almost losing money per delivery. Doesn't that mean at some point whether there is a merger or not a merger between these two companies prices are going to have to go up on consumers or wages are going to have to go down for drivers okay? So this is an issue. That's been raised in many antitrust violating mergers before. And that is that they say well. They're not making money so it's OK well. I don't think it's Ok in the long term. You can't just use the excuse that someone isn't profitable say so the way we're going to solve this as let them corner market and otherwise you just literally and I don't believe food delivery service is GonNa go away right now. There's absolutely no way. Americans are ingenious. We're GONNA find a way to do this. Maybe it'll be more re you know. Maybe it'd be a bunch of smaller ones but they will find a way to do this if we just allow the market to do it and instead if you just throw up your hands and say oh we're not going to enforce the antitrust laws during a pandemic and this was by the way ten billion dollar business before the pandemic and it is still growing and it's going to grow more the answer cannot be to say it. Things are tough now. So we're just GONNA let one or two companies dominate so that you would have this combination of the top two if they were allowed to combine right the top to be ninety percent of the market. The you would have door dash. And then this Combo of Uber. Ethan GRUB. How many percent of the market. I don't think that's the answer this attitude during the pandemic we'd let every merger for actually. So let me ask about that and broaden this out a little bit this during the pandemic thing. I know you cosigned a letter to treasury into the Fed along Elizabeth Warren and some others to stop potentially harmful mergers for companies. That have received cares act funding. Maybe other fed lending programs via the pandemic this broader so-called Pandemic Monopoly. Act that Warren and AFC and some others have written which basically would put a moratorium on all mergers for companies. I think with one hundred million dollars more in revenue until kind.

"boston visit bridge bank dot com" Discussed on Pro Rata

Pro Rata

10:54 min | 7 months ago

"boston visit bridge bank dot com" Discussed on Pro Rata

"Politics sponsored by Bridge Bank be safe venture wisely. I'm Deborah Mac. Today show restaurants. Ask for more time and what. Disney just lost to tick tock the first reopening America's healthcare system. So okay. I get that title. Might be a little bit confusing given that we have spent the past two months talking about hospitals being surge capacity and parking lots becoming makeshift testing facilities but overall American healthcare service rates have fallen through the floor. Or maybe even through the foundation remember. Lots of hospitals stopped all elective procedures in order to preserve bedspace for covert nineteen patients which led to massive drops and things like joint replacement surgeries and lots of other medical facilities like clinics and specialty practices have either closed or severely limited their offerings including in such areas as pediatrics ophthalmology and dermatology and none of that even includes all the paused clinical trials for non. Cova drugs many of which require regular patient visits and monitoring why it matters for patients of course is that they haven't gotten treatment which could lead to increased troubles and costs down the road why it matters for healthcare as a whole is that elective procedures are. Greece's it's wheels which is why we had this bizarre dichotomy of overworked frontline workers on one hand and scores of laid off healthcare workers on the other more specifically the most recent monthly jobs report showed a one point four million losses in the healthcare sector including around two hundred and fifty thousand physicians. The bottom line things are beginning to open up including medical and dental facilities. But there are questions as to how fast that can happen. And what might have been lost for good in twenty seconds will go deeper with healthcare reporter? Bob Herman but I. This Bridge Bank knows the INS and outs of business. Ups and downs and remains dedicated to providing financial solutions to sponsor backed emerging technology and growth companies for nearly two decades through its national network of banking teams and offices in tech hubs across the country including San Francisco Seattle Denver Chicago and Boston Visit Bridge Bank Dot Com to learn more bridge. Bank is a division of Western Alliance Bank Bridge Bank. Be Safe Venture wisely. We're joined now by axios healthcare reporter Bob Herman so Bob let's start here with this decrease in elective procedures of how universal it's been so for example if I'm someone who's been trying to get a knee replacement surgery over the last couple months. Have I been able to? Is it a question of where I live or question of money? So if you're trying to get an Easter since the pandemic started it's very likely it got pound hostels basically all but stopped them. And what's so interesting about healthcare? Is we always figured? It was recession proof but it turns out that it probably is little recession proof but is not pandemic proof because hospitals head to basically stop all these things to prepare for the corona virus and as you mentioned the knee replacements is the most extreme example. But it's really across the board. You look at pretty much. Every service line cardiology spine ophthalmology. There's no service that has been spared here. The original argument for wildlife procedures. Were stopped was capacity right. You know you don't WanNa take a bed for somebody who is convalescing from a knee replacement when you might need that bed for Corona Virus Patient. That said as things begin to open up. Is there an expectation that all of these kind of backed up procedures? These people are just going to flock back in or is there serious concern? The folks will still stay away because these often are facilities that either already have corona virus patients or just general concerns about the lack of social distance that occurs when there's a surgery or when there is a face to face physician meeting for hospitals. At least they are kind of hoping and praying that the demand surges back because a lot of these procedures that have stopped or their big moneymakers like orthopedic procedures or spine or hearts so while they're hoping that there's this surge now that's the current events at least from hospitalization point appears to have crested at least in some states is actually less clear from people. I spoke with. There's still a fear among patients especially if it's something that they don't need immediately if there's some kind of carpal tunnel surgery that they've been meaning to get to but still don't really WanNa do they still might hold off until there's some kind of clear evidence that this is truly under control so while there's a hope that this will come back for hospitals. It's far from guaranteed and it certainly seems like at least some of the demand certainly won't come back this year. You talked about the hospital capacity. You had a great piece over the weekend about ten following hospitalization rates including some of the hardest hit states hospitalization rates from Cova. I'm wondering though there's obviously a pretty persistent fear that estate start to open up peaches and parks in retail and possibly even restaurants that you could start to get at least select outbreaks in various places given that are hospitals comfortable. Basically reducing that surge capacity given the concern. They might need it again. They're kind of a catch twenty two right because they WANNA be prepared if there is another surge of Toronto Virus Cases. That was the whole point of this but at the same time. They're just not getting revenue right now especially the smaller hospitals Hostels at treats traditionally poorer patients. They are on the bleeding edge right now. So they're at this catchweight. Were they want to be able to be prepared but they need money to come in the doors? They want to keep their staff around so I spoke with a CEO of a hospital Vermont. Vermont hasn't been terribly hard hit. They've been very aggressive with social distancing up there and he told me like we're prepared but we really kind of need to start scheduling some of these electric disease again because they're not getting as much funding from the federal government has other hospitals so they kinda need some of these patients to come back if they want to at least not start laying off or furloughing staff. Let's leave the hospitals aside for second or step away from them and talking about the specialist clinics a lot of people who go to the doctor even for outpatient procedures. Don't go to a hospital per se they go to a smaller sort of facility. Is the expectation that does including small. Urgent cares is the expectation that those will start to open up more and more and is there reason to believe people will be more comfortable going to those. It's interesting so outpatient care. It's probably even more at risk. And the volumes that have gone down are even more severe. If you look at family doctors pediatricians from what I'm hearing. Some of those volumes have declined almost by ninety percents year over year. They're essentially just treading water with no revenue coming in and it's still the same dynamic right like if you are sick do go in. Maybe do you go in for your cardiac checkup in an office? Maybe but maybe you just via telehealth telehealth granted you. Don't get the money off of procedures like you know K. G. at least the appointment revenue. Correct correct you do and with telehealth. It's not always being paid at the same level as an in person visit some insurers are trying to level it out again any kind of telehealth revenue is not going to be made up from what they would have gotten from an in person visit but one other piece of this which is dental and we don't think necessarily have dental all the time we have healthcare but when you look at the jobs numbers from April I think there was like half a million of the job losses were in the dental sector. Are Dentists offices going to reopen and from your perspective today suffer potentially suffer from the same issues that the pediatrician's offices in those smaller outpatient specialist providers suffer from outside of again emergency dental procedures? Did it seems like it's the same dynamic. It's funny. I just got an alert from my dentist kind of pleading with me to come back sometime in October. I'm not totally sure I want to do that. And if you think about the most elective of elective you probably don't need to get your teeth cleaned at your six month mark when it comes everything else. It's not the most urgent so dentist's office have absolute taking the brunt of this. Because it's just not totally necessary in light of the pandemic and for those offices interesting layoffs as you mentioned and even wonder if and I wrote about this as well. If they're the type of practice that will have to consider selling well in one area that has been very interested in dental is private equity. So you kind of wonder if that trend will accelerate bob just very quickly because we're almost out of time in a separate topic. But since I have you here Madeira. Which is the drug company that got a Cova vaccine into clinic? I yesterday released fairly encouraging albeit not completely complete phase. One clinical trial data. It helped the stock. Market's go nuts your initial reaction when you saw what. Madera now released in some ways. This was kind of expected right. This is a phase one trial. This is the very first trial mostly focused on just testing whether the vaccine is safe and by those measures. It certainly encouraging. Nobody's dying. There's no life threatening adverse events associated with it yet on the other hand. It's a very early interpretation of the data we're talking about really a subset of patients that were looked at. It's kind of insane that the stock market went wild as it did. Considering this kind of expected in there's still so long to go the pivotal phase. Three trial is going to start sometime over the summer. That's where it's GonNa matter most so the stock market reaction is totally wild. Bob Herman who you can follow at Bob Jay on twitter. Thanks for joining us. Thanks for having me Dan. My final two. Right after this with offices in check-ups throughout the country including San Francisco Denver Chicago and Boston Bridge Bank supports the innovation ecosystem wherever it thrives in helps breakthrough ideas actually break through and through. Its teams focused on technology and life sciences companies and the equity investors fuel. Them Bridge Bank delivers a responsive. High Touch Client Experience Bridge Bank. A DIVISION OF WESTERN ALLIANCE BANK BRIDGE BANK BE SAFE venture wisely. Now it's time for my final two and I up as America's beleaguered and largely shuttered restaurant sector a big group of restaurant owners and CEOS yesterday met at the White House and over and over asked for just one thing and extension of the so-called covered period for paycheck protection program loans from eight weeks to twenty four weeks. Their basic argument was that in many cases there be forced to use or lose the loans before all of the restaurants can fully open which helps defeat the purpose to be clear. They weren't asking for more money just for more time. What was remarkable about meeting also was how the restaurant tours? Whether trump house are not kept redirecting the conversation back to this covered period issue even when trump himself tried to pivot to things like meal deductability or payroll tax cuts policies. That one restaurant. Ceo likened to useful additions to a house but only after the actual scaffolding is. I erected. Don't be surprised to see this issue emerged today. When Treasury Secretary Steve Mnuchin testified in front of the Senate Banking Committee and Finally Tick Tock yesterday. Stunned the tech and entertainment world's poaching Kevin Meyer to be its new. Ceo Mired spent the last twenty seven years at Disney including overseeing the launch of its Disney plus streaming unit had been at one time viewed as the likely successor to CEO. Bob Eiger why it matters is that I. This is a very big name. Higher for a social media upstart now has hundreds of millions of users but perhaps more importantly Meyer is a known you ask tech n media commodity at a time when Tick Tock is trying to prove its independence from Beijing. At least when it comes to privacy despite its ownership by Chinese tech giant bite dance where Meyer will also now serve as C. O. And we're done big. Thanks for listening to my producers Tim Chauffeur's Naomi Shaven have a great national devil's Food Cake Day. And we'll be back tomorrow with another pro rata podcast..

Bridge Bank CEO Western Alliance Bank Bridge B Bob Herman Disney San Francisco Kevin Meyer Boston Visit Bridge Bank Dot C Chicago reporter Deborah Mac America Vermont Greece Bob Eiger Cova
"boston visit bridge bank dot com" Discussed on Pro Rata

Pro Rata

10:11 min | 7 months ago

"boston visit bridge bank dot com" Discussed on Pro Rata

"Well that's where we take ten minutes smarter on the question of Tech Business Politics Much Bridge. Bank be saved venture wisely. I'm diplomatic today. Show Democrat Slam. Uber's attempts to grab hub and facebook gets a pass on deal for gifty first misery at the mall so last Friday night one hundred eighteen year old retailer J. C. Penney filed for chapter eleven bankruptcy protection. This made it the third major retailer to do so this month following J. Crew Neiman Marcus and came just hours after report that. Us retail sales fell more than sixteen percent between April of last year April of this year with a big part of that loss coming in apparel now to be sure all three of these companies. Were already struggling before the pandemic just look at JC Penney. It launched a turnaround plan nearly a decade ago. Hiring Ron Johnson. The guy who created apple's retail stores but Johnson's tenure was a consensus disaster. And he didn't even last two years. Subsequent fixed didn't work either and the corona virus pandemic seems to have been the final nail in the company solvency coffin. The question now though is how or if retail can even come back particularly retailers. Either rely entirely or enlarge part on physical stores. Remember even a lot of the hottest Internet based direct to consumer brands have opened brick and mortar shops in recent years with consumers seeming more and more interested in the touch and feel experience. But right now we're all being told don't touch don't feel and it would seem that could put the entire shopping mall at risk with them all staring at JC Penney as the ghost of Christmas future. In twenty seconds we will go deeper with Fortune magazine Spill Wada. But first this bridge bank knows the INS and outs of business. Ups and downs and remains dedicated to providing financial solutions to sponsor back emerging technology and growth companies for nearly two decades through its national network banking teams and offices in tech hubs across the country including San Francisco Seattle Denver Chicago and Boston Visit Bridge. Bank DOT COM to learn more bridge. Bank is a division of Western Alliance Bang Bridge Bank be safe venture wisely. We're joined now by fortune senior reporter Phil Baba so Phil. Let's start here with J. C. Penney this is obviously a retailer that has been in trouble and struggling for quite some time. Is it as simple as corona viruses. The thing that pushed it over the edge well it might have been the tiny little push that was over the edge. But they've been headed this way for very long time. They've been up to their eyeballs debts. Sales have been plummeting for the last few years in a great consumer environment so blaming on Kobe. Nineteen is easy. You recently a piece on which retail chains hurting the most in reporting that out. What surprised you the most what what surprised me the most is. There are quite a few mall based retailers. That are doing very well. It's been easy when people say. Oh any store in a mall is GonNa hurt in fact to it really is basically the delineation is does. A company have products that people want that other retailers on offer. Does it have customer service at doesn't have a good friend of ECOMMERCE and store business and on those fronts? Jc Penney was not very good. But then you have somebody who lemon excellent on all three of those and they're driving Neiman. Marcus didn't count with that. I mean granted. It's obviously on the high luxury but neiman. Marcus didn't have that which is another company. That went bankrupt Neiman. Marcus we all think of it for its eight thousand dollar nine thousand dollar designer gowns but the reality is that a sold a lot of stuff that middle class upper middle class people would buy but they could also find Nordstrom bloomingdale's contract neuman. Marcus was not as special as it used to be. Forty four stores. That's a lot of source to fill with. You say that even when you look inside the mall that there are plenty of retailers that are doing okay because say differentiated product a good blend of online and physical retail that said in the age of Cova given it a lot of malls have been closed and still are closed. Are there a couple of retail? You're looking at is kind of the bellwethers in other words. The ones that we're doing okay. Pre Cova but if they either filed for bankruptcy or get close to that you suddenly say wait a minute. We don't just have struggling retailers like J. crew. Jc Penney going under. We've got a much much deeper. Systemic big problem. Well I wouldn't Nordstrom in there. I mean Nordstrom has been slightly limping. They're never been in mortal danger. They also a fantastic balance sheet but actually companies like Nordstrom Coles who've had their challenges but great balance sheets. They're not gonNA have great balance sheets coming out of this so that actually puts them in danger a bit further down the line. But you know company like Nordstrom which is extremely well-run which has great ecommerce which is Great. I struggled to win back customers. That could be a sign that this isn't just about pushing the weakest over the edge. Some strong people can follow her to wonder with something like Nordstrom which had a good blend of ECOMMERCE but in the physical store. The store itself stores like that. Particularly if you're talking about high enclosed this is a basic thing but a lot of it's about trying the thing on right try on the shirt. Try ON THE DRESS. And see how it fits. Is there any talk yet? On how they're going to pull that off in a covert age where I might not particularly want to put on something that somebody else might have just put on. Well there's going to be a lot of challenges. Would I mean basically the emerging best practice that we're starting to see stores? Reopen is if you try selling and a year stillness store and you don't want to try it on your order by it down and put it away for twenty four to forty eight hours. That'll be the same thing with return. Products Northwest Section in case today just announced that they're going to close fourteen per side of their stores. The big department stores not the Rock ones because they've been trying to do now is focus on better markets to them like Seattle New York L. A. And have a group of stores but also they started opening little stores called local which are half the size of a seven eleven in good neighborhoods. So you can go try things there. You ordered a line item gets shipped to that story. You go there and they try to get a Taylor but now so there are going to do as de emphasize smaller markets and focus on the big ones where they can win big L. A. New York Chicago send a major Boston. Retail sales. Numbers came out Friday showing retail sixteen point four percent drop in overall retail from this April over last April and that was obviously an enormous number. The biggest year to year drop ever but from my perspective is the layman looking at it I thought. Wow that's actually not. Nearly as bad as I thought it would be given the number of stores the number of malls that are literally closed right now. What were your thoughts when you saw that number because I thought it was going to be worse. It's mathematics because groceries. Rob A lot of essentials. Were up home furnishings up this week. We're GONNA see home depot and Lowe's are going to report. Apparently they did very well. But it's really a powerful that sell ninety percents and Powell is what shows the malls the small stores as well as the anchors. And so it really. Is Everybody gravitated towards the essentials like food and thanks for their home and things that were non essential basically collapsed? It's as if for some parts of retail. It might have been flat. Bid Up and others like down eighty percent. It really is entirely different worlds from a retail perspective. What is the longest lasting kind of behavioral consequences of Covet in terms retail? Is it more direct consumer or what in in three years four years from now? Do you expect to see in the retail market? You say it's because of what happened in early. Twenty twenty well. I think we're going to end up seeing a lot. More technology is GONNA be a part of. I need already as part of it but I think it's idea of consumer service at best. Buy Or to start right. Let's go to best buy now to get an employment and Roger hold chip in the story you can have somebody with you and I think some version of that will stick. Because I don't think we're going to have a vaccine anytime soon. Shoppers are going to be nervous unless you really really come to them. So safety and cleanliness are gonNA be paramount now. Does that mean increased employment. Pick a best. Buy Anyone who's ever been in a best buy in wanted to get help knows. It is a hard hard thing to do and you wait a very long time. Does that mean you're going to see some of these? Big Box. Retailers actually have to have more staff than they used to. They will have to bet you. They won't do it so I think part of this is at Downli we're GONNA see smaller stores and you're GonNa have a lot more ecommerce in the store will be two really close the transaction than browsing and get full service so I think a lot of physical retail will disappear because this is well the Wada a senior writer for Fortune magazine and the biggest Def Leppard Fan. I know thank you very much for joining us. Thanks very much final. Two right after this with offices in check-ups throughout the country including San Francisco Denver Chicago and Boston Bridge Bank supports the innovation ecosystem wherever it thrives in helps breakthrough ideas actually break through and through. Its teams focused on technology and life. Sciences companies and the equity investors who fuel them. Bridge Bank delivers a responsive. High Touch Client Experience Bridge Bank. It's a division of Western Alliance Bank Bridge Bank. Be Safe Venture wisely. Now it's time for my final two and I of his increased Democratic Party opposition to the possible merger between Uber and Grub the latest come from Minnesota Senator and possible veep stakes winner. Amy Klobuchar who on Sunday tweeted quote. If Uber takes over GRUB hub. It isn't good for competition and it isn't good for you. When big companies cornered the market it usually means more for them unless less for you especially in a pandemic. That's why I'm challenging. The trump antitrust enforcers to do something about it and so two things of note here I. There is not yet a deal to oppose the two sides remain apart. Price with GRUB rejecting at least one of Uber's offers second even if a deal does get announced cloture doesn't really have any way to fight it beyond public pressure. Even if she could convince Republican. Senator Mike Lee to hold hearings via the Senate Judiciary Committee's anti-trust Subcommittee. It couldn't actually block the deal. It needs doj the FTC. That's why she ended her plea for the trump antitrust enforcers to do something about it the bottom line until there is an actual transaction. This is all more about political posturing than policy-making and we will close one more antitrust note this morning the total lack of opposition political opposition to facebook's agreement to by giving the Animated Image Library that the social network values upwards of four hundred million dollars. Now you certainly could argue. There is no reason for antitrust to care about something as seemingly innocuous and silly as but that's also a lot of folks thought when facebook agreed to buy instagram more to the point big tech companies like facebook and Amazon and Google are all under current antitrust investigation but seem to basically be telling. Dc. We're going to keep making deals until you try to stop us and so far. No one has and we're done. But thanks for listening to my producers Tim Show Naomi. Shaven have a great national cheese souffle day. And we'll be back tomorrow with another pro rata podcast..

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