President yee good afternoon and welcome to the october 20th, 2020 october 20th, 2020. Regular meeting of the San Francisco board of supervisors. Would you please call the roll. Clerk [roll call] president yee supervisor fewer will be a few minutes late and she will joining shortly. You have a quorum. President yee pleasure righe right hand over your heart for the pledge of allegiance. I pledge allegiance to the flag of the United States of america and and to the republic for which it stands, one nation, under god, indivisible with liberty and justice for all. Give me a second. I would acknowledge the staff at sfgtv and matthew two records our meetings and make the transfers available to the public online and madam clerk, lets jump into item number one Second Special order. Is. Clerk ok, the first order of business is to welcome the mayor london breed into the proceedings to discuss the questions submitted from the supervisor representing district 6 to begin the mayor may address the b
Good tuesday morning, welcome to squawk alley. Im Carl Quintanilla with jon fortt and Julia Boorstin with us dow because up 275 this morning. We lost some of that the covid19 vaccine rotation is continuing with tech down another 2 today and the s p 500 down 26 points thats where well begin this morning. The nasdaq falls investors rotating out of tech to some degree the managing director is going to help us start off the hour. Good morning, mark good to see you. The. Hey, carl, good to see you. We know i mean, the argument has been made that world changed a little bit yesterday for the better but is the tech reaction is there bath water being thrown out too . Well, yeah. The world did change id argue a lot yesterday. And not surprising that were seeing a rotation in some of the tech names i think for the next little while here, you know, expect the expected were going to think continue to see some rotation away from the work from home names probably bate probably a bit of a short term r
Experiencing unprecedented declines in activity. Although the remains considerable uncertainty about the economy, we know that the Banking System has served as a source of strength throughout this period. They have supported their customers and committees by pppinating 500 million in loans. The Banking Systems ability to support the economy reflects the Industries Strong capital and liquidity position. In the Second Quarter of 2020, Equity Capital increased to more than 2. 1 trillion, which 13. 4 . Ted to highervels were slightly than the quarter preceding the pandemic. Taken meaningful action to provide banks while maintaining safety and soundness. I will provide an update in five areas in which we have made significant progress. Supporting communities in need, encouraging outstanding loan making. I would like to briefly touch on each of those, starting with our response to the Economic Risks related to covid19. We undertook a series of actions that helped maintain stability in financ
Here. Good morning to discuss the status of the National Rail network to have 140,000 miles of rail seven class one railroads and thousands of companies to ship products ands Raw Materials also and Intercity Passenger Rail Service operating on 22000 miles of that same network todays first panel president and ceo of amtrak and the executive director of the Development Corporation and the Economic Developers association testifying we will be. The Vice President corporation on behalf of the American Council mr. Randee gordon and the chairman to testify remotely and he didnt jeffries president and ceo association of american railroads and dennis pierce president of the teamsters rail conference. During this covid pandemic. In 1970 the real Passenger Service act was adopted to relieve our railroads on the common carrier to carry passengers. The statue created amtrak and provided real runs can be used by amtrak to offer intercity passenger real service, returns and compensation that are just
Twitter and facebook scheduled to testify before the Senate Commerce committee on wednesday. Examine whether that content liability shield section 230 is still relevant and needed. This is one of the days in the market, im not sure what is happening in the overall dow matters so much to the tech story. April sl about flat on some promising iphone 12 order lead times. Then if you look it at the nasdaq zoom is up amazon, etsy maybe thats some halloween eagerness. Yeah, a bit of a mixed bag today, jon you have the stay at home names you mentioned. Tech broadly lower weve got that doubleheader again this week. A hearing following by earnings from the Big Tech Companies. And its interesting, looking at facebook and alphabet this month, theyre actually outforemaniou outperforming the big tech names. Alphabet is up 8 . Facebook up 7 again, we see the theme. The pressure is on in terms of antitrust and regulatory scrutiny yet, the stock prices not really reacting those are the two names that h