Information about the local community and things going on around the country. Today we have our membership watching and a number of members diplomatic corps tuning in as well. And a number of invited guests, not members of the club, are and watchingtening as well. Our First Special guest today is. Ed leonsis the second is the governor of maryland, governor hogan. And the chair of the National Governors asos asian. And then we have association. And then we have kim ford. Let people know that next week on friday we will probably have another program. We are working on the details of that now. Secondly, april 28, next tuesday, a week from next tuesday we have dr. Fauci, reasonably well known these days as the director of the National Institute of allergy and infectious diseases. And we look forward to a good conversation with him. I would like to remind everybody that after the interview is completed, about one hour, total, we will put this up on our website. You will be a little watch it on if you would like to do so. If i could, i would like to start with ted. Welcome think welcome, thank you for doing this. Gov. Hogan thank you, you are doing ted thank you. You are doing a fantastic service to the Business Community. David thank you. As i said, you are the person who has, i think it was 1999, you bought the caps and subsequently bought the wizards and the capital one center. You also have the mystics, the Womens NationalBasketball Association team. You have three sports teams, plus the building. Tell us, how has your business been affected by the shutdown of well,ially society . Ted you can see over my shoulder i have a replica stanley cup, autographed guitar. I want to remind everybody that we are the district of champions. Not the district of coronavirus. Now our champions are our First Responders. While it has affected our business, we are simply in a and we hope tog in some mannersh our regular season and then the playoffs. If we want to use this time to really show our appreciation to everyone in the community, we want to put all of our employees and people first and our players first. I think its most important, even though it is the district of champions, that we are very focused on what is happening to society. Its way bigger than what is happening to us in the industry of sports. Do you think its realistic that the regular season for the basketball and hockey teams that you own can be resumed and there will be playoffs . Or is it more realistic to see no more hockey or basketball this year . Well, keffer commissioner fauci give us all a tip on how we should be preparing yesterday. To play the regular end of the season and the playoffs, if we can. A way where there are no fans. That makes a lot of sense. Howan take our queue on leagues and teams are organized. Right after we finish our , i go and attend aborted governors. We are called governors with the nba. The nba is like our federal government, if you will. It will take its lead from governors and the federal government and all of the Public Health associations. And we listen to them. We cannot play games on our own. We have to play within a league format. The players belong to unions. The union deals collectively bargained agreements with the leagues. Thats the focus right now. We end our season, we, the Washington Capitals and wizards, with eight home games so far for the caps and i think 11 for the wizards in total. So, we have to figure out how we ended the season and then go into the playoffs and we will get our direction from the, from the leagues. But also we hear now the mayor. Rs and ndc, the we will figure out where we can play, how we can play, but we are operating in a suspended mode. All of our focus is on what to do about the remainder of the season. Many total employees does monumental have . Ted we have more than 600 fulltime employees. We pay about 100 players through all of the teams. And then we have about 1500 parttime. We, i felt it was the right thing to do, to pay our parttime employees who had signed up to work through march a million,t about 200,000. Its not in advance to them for coming back. They will sign up to staff the new games and we will pay them there. I have not had any furloughs, cuts, or layoffs for fulltime employees. I think that right now we are waiting to get our queue from the city and from Health Organization and the leagues on how to move forward. Again, i also think i want to use this time productively with our workforce. Listeningryone who is , this notion of lets get back to normal is wrong. We, we have a mantra of lets build a better. Lets take this time, self reflect. Look in turn only. What can we be doing better when we come back question mark organizationally, for our customers and our fans, how can we innovate . We are a content company. Thats a big part of our revenue stream. Because we havent been able to play, we were the first thesezation to build simulated games. Because our partnership with nbc and comcast is so important to us, we played a regularseason we were able and to bring in our announcers and to come in and be interviewed. Today we announced that Wayne Gretzky has challenged alex of a skin to a game online. As an organization we believe in innovation and we have been leaders in east sports. With axiomatic and team liquid, we have been talking a lot about east sports, they are having a moment right now. Built digitally first. They are accustomed to working at home and practicing at home. Now we are having our Basketball Team and hockey team, our whole ankforce look like they are easy forex company. Right . Interactive yoga classes on zoom to keep the players in shape. So, i think this should be a time of innovation we pause. What can we do better . D. C. , i wanted to be additive. More than weeave take. We paid our taxes upfront. We dont have anyone yet seeking unemployment. We, we are very active in our philanthropy. On. Ill have marthas table net stars is a partner of ours that needs to be celebrated for the work that they have been doing for the First Responders. Our players, our employees are being activated. We understand the power of community. This is just a moment in time. We really all need to get out of the woe is me, this is the worst thing that could have happened. I view it as a pause in what we have been doing and it should be an opportunity to springboard to a better future. David are all the other hospital hockey and Basketball Teams having another having a no furlough policy . I assume a lot of them would have furlough the one time people. David every Ownership Group is in their own unique set of circumstances. We have probably been hurt the most, if you will, because we own many teams. And we owned the building. Remember, there are many teams that play in a building owned by the state. When you interview governor hogan, ask him how he is doing right now. The state owns orioles park and ravens stadium. University of maryland owns comcast arena on the campus. Hes the biggest landlord in sports locally. Our mayor and the city owns the nats stadium. We have d. C. United, capital one arena privately owned. You are all in this together and have been hit hard. We have been focused on always being fortified to run a good league organized Lean Organization where fortunately we are not burdened with too much debt. I published a paper a couple of weeks ago that says here is a cheek sheet on how to manage through crisis. I am old enough now to have been through a bunch of these, right . 9 11 was the last one, but we have had tremendous economic downturns previously. You have to stand behind what your principles are. In a business sense i put together a stack. Whats most important to us . How does the energy, the attention of dollars flow . We chose people as being first and we look up to that to date. We said our partners were a part of that and our players are our partners. They are in the stack. They are not property. We go down from there. We want to walk the talk. Much, still. So that has been the frustrating thing. Markets dont like unknowns. Employees dont like the unknown. What i have done is say, well, we cant oil the ocean. Little to focus on our part of the ecosystem. Can for thatst we part of the community. And also to be positive. We want to be additive. I was joking the other day, there is this ticker the other day that is painful to watch. I miss it when it said the caps on winning 51 in the third. Sports in as many ways as we can to rally the againity, to one day be a a convener. Lived through 9 11. People might forget that michael us as aorked with partner, coming back to play that summer. The very first game for the nba after 9 11 was at Madison Square garden. The yankees were in the world series. Atly joel held a big concert Madison Square garden. Michael jordan, he played. The wizards played the next the day before. We closed the new york stock exchange. They opened that weekend, Michael Jordan and icon a a bunch of other people, we closed it. We then went down to ground zero. It was magnificent to see the First Responders with Michael Jordan. It was a touching moment in sports. Sports and entertainment brand had a catalytic role in bringing our community back. Not be the container out of the gate, but certainly on television as a content will provideainly entertainment at home. Its something that we need to do and the league is very committed to our fans and our community. David when you do have people coming back to the arena, the you envision that there will be social distancing . Or that they will have to be Wearing Masks . What is your vision for how they can come back in . David as i said, we are trying to innovate, we have hundreds of people trying to innovate the new and better ways to accomplish the goal. Givehopeful, and i dont short shrift to the innovative spirit of our country. I am an investor in some textbased medical and health care companies. Tempests is a great, great investment of ours. I have seen the best and the brightest now in help services that it is more about a vaccine so that we can not have to profile. That is one thing that i, in the principal part, that i dont believe in. I really would like to find a way that it, it, its a communal resource and that we can have everyone participate. Maybe it is through augmented reality. When we open the building we will certainly have new Technology Ways to cleanse the building, keep the building clean. I am not buying in in any way that we wont be able to eat in record restaurants before a game and come to the capital one arena and be able to enjoy being together. I think it is just what time frame it happens in. You mentioned earlier that they are working out. How do you stay in shape . They stay in shape . Ted i have been really proud of the players, the league, our staff. Zoom has been a wonderful tool. We feed the players, we monitor the players. Law yesterday on television in an interview and he looked fantastic. He has a gym in his home with a halfcourt Basketball Court in his home. His weight is way down. I hope everyone is using this time to get ready for the come back. Thats the key thing, to get into new routines. I think a lot of players around the league will use the time for competitive advantage. If they can find ways to train, to work on something that was a shortcoming, the 10,000 our ion of mastering something hour notion of mastering something. We have been encouraging every part of the organization, dont wallow and watch television and say whoa was me. Play offense and use this time to do something that matters. Dont, dont let a crisis be this terrible thing. What can we do to innovate and pay a modest to our heroes through philanthropy, make sure the players dont get sick. Everyone in ecosystem is healthy. How important when we know and when we are coming back. It has been our first focus, the physical and Mental Health with the Economic Health of everyone lining up with sports and entertainment. David how are you staying in good shape and staying healthy . Social distancing . Is your family with you . Gov. Hogan my wife and a ted my wife and i, it has been six weeks and i take it very seriously. Very seriously. If you are a leader, you have to be able to walk the talk. Im in the demographic. Im a little overweight, i have asthma, im in my 60s. I want to be able to lead our organization and be a good example. I have been doing that. , have never worked harder never had as many meetings and conversations. I do think that our work will change. I have found this to be incredibly productive. There is no longer Staff Meetings or report meetings where these three people cant be here. They are on the road, they are traveling. The last two days i had a bunch of board meetings that are always scheduled to be in chicago. It was truly amazing. I could work out in the morning, you didnt have to pack or go to and fight through the traffic. I have found the reclaiming of those travel hours to be very, very powerful. I am trying to be very mindful of what i can do with the extra hours. David tell us about the philanthropy that monumental is doing in the community in which you operate. Ted well, we have a Monthly Program where the organization is focused on a series of charities. You will hear from one later with marthas table and we have been working with vendors and chefs to feed the First Responders. We want to do a lot more with medstar. Medstar, nova, Howard University hospital. The list goes on and on. They really are the organization the government needs to focus on for a bailout, right . Their business has essentially been about elective surgeries, of which there are none. They will have deep, deep economic issues. All they have done is the service to the community. We want to find ways to help them. While i think our level of philanthropy monetarily will increase, it has been frustrating that a lot of what we do, governing, working in the kitchen, volunteering with the , you people in schools cant do that during a lockdown. Right . We want to help by giving more money, but we also want to help i helping these charities to find different ways to work. You know, im personally very involved in educational charities. David, you are, too, with your and theh scholarship Economic Club. Im very, very concerned. D. C. Cap is very focused on kids who are seniors in high school. They are not able to finish school. They are going to college. The freshman in the sophomores who have come back, now, and arent able to finish out their year, being able to study at home. Some of them perhaps in environments that are not conducive to being studious. So, there are going to be ripple effects in need for the community and we are going to. Ave to step up, all of us we have to do it in a time when all of our net worth and financial standing has taken a great hit. Know, i have decided that for our organization, for our family, we are going to do as much as we can. This is aat, that real reckoning for our society. Its not the end. We give now, the better we will feel about our organization and ourselves on the go forward. We are going to suffer pain. A shared pain is what the world is built on. My cousin the other day, he sent me an obituary of one of my uncles. He died at 98 years old. Germany during world war ii. 75 Million People died. We all know what happened to the communities, the jewish communities. Was the greatest generation, right . We are sacrificing, and i say that led whoa is me, i cant go. O the bar im going stir crazy. We have to redefine what selfsacrifice is. We have to redefine what our values are. I am hoping that sports can end up being about heroes, but in perspective to what real heroism is and who are the people in the community that need our help and support . Try to rally our players. In the league is doing so much to rally players and all of the owners to lean more. We have to Forward Invest in a lot of these activities. David final question, ted. What main message would you like to get your fans, your mystics fans, your wizards fans come at the main message you would like to give them in 30 seconds or so . Ted we love them very much. And it sounds trite sometimes to say we are in it together, that we will all try to do the right things in the right way, and we will get through it together. If we try not to come back to normal but we built together to better, i think we will see this big hockey stick in value and feel better about ourselves as a society. About ourselves as a society. Lets play off that im a take advantage of this time together, and make a better world. David thank you, ted. I look forward to coming to one of your games as soon as possible. Ted are you wearing sweatpants . David no. This is my only outfit. I only have suits. Thank you very much. We will be in touch. Ted thank you. David i would like to introduce now, by audio, the governor of the state of maryland. He is the 62nd governor of the state of maryland, elected in 2014 in his first bid for electoral office, reelected overwhelmingly in 2018. I would point out he is the first republican governor the second republican governor to be reelected in the 240 two year history of the state of maryland, my native state. He has been elected by his peers as the head of the National Governors association. Governor hogan, can you hear me . You very much. Nk that is quite an introduction. I appreciate that. Melso appreciate ted calling the biggest landlord and sports in the region. That was a nice intro. Thank you for having me. David thank you for coming. You have been at the forefront of this. Think the you, do you we have seen in new york, the enormous amounts of people getting the virus and a lot of of deaths, that wave is heading toward maryland and the District Of Columbia . If you do think it is coming down here, when you expected to