Other participants. To enable the Public Participation sfgovtv is broadcasting and streaming this hearing live and we will receive Public Comment for each item on todays agenda. You can do so by calling the 800 number at 1 888 2733658. And enter access code, 3107452. Press pound, and pound again. When you are connected and your item comes up that you want to submit your public testimony, press 1 and then 0 to be added to the queue. Each speaker will be allowed up to three minutes. When you have 30 seconds remaining [broken audio] indicating that your time is up. When your allotted time is up, i will direct you that your time is up and go to the next person to speak. Call from a quiet location and speak clearly and slowly and mute the volume on your television or your computer. At this time, i would like to take roll. Commission president koppel. Here. [roll call] thank you, commissioners. First on your agenda is items proposed for continuous, item 1, 019015984cua. At 592 Second Avenue,
Commission meeting. As i have done in the past im going to read the following into the record. On february 25, 2020, the mayor declared a state of emergency related to covid19. Further moremore, theres laws apicable to boards and commissions to hold hearings remotely on. April 3, 2020, the Planning Commission received authorization from the Mayors Office to reconvene remotely through the end of the shelter in place. This is so that we are here. I am requesting everyones patience in advance, and the platforms at times are not perfect and may seem clums i. If you are not speaking mute your microphone and do not hit any controls that may affect other participants. To enable the Public Participation sfgovtv is broadcasting and streaming this hearing live and we will receive Public Comment for each item on todays agenda. You can do so by calling the 800 number at 1 888 2733658. And enter access code, 3107452. Press pound, and pound again. When you are connected and your item comes up that y
Consumerfacing businesses and both are on the move in the afterhours session and we have Team Coverage to break down both of these reports and lets kick things off with csx with the call now under way and lets get to Frank Holland with the details. Melissa, shares of csx up, and something weve seen in a number of other companies and one of its competitors, union pacific. On that call the ceo says production demand was too hard to forecast in this covid19 environment. Also during the call the cfo kevin boone said the Company Raised 500 million in debt and the Company Believes it is in position for a potential recovery and maintaining a strong cash reserve. Our Liquidity Position is extremely strong with nearly 2. 5 billion of cash and shortterm investments at the end of march this represents multiples of what we would consider normal, targeted cash levels cash may be strong, but volumes are weaker year over year to start q2 its been seen in the three weeks since the First Quarter ended
Up 41. 22 a barrel the giants of the industry, exxon mobil and chevron into bear markets. Where is the president , right now hes heading to the center for Disease Control in atlanta after signing the 8. 3 billion corona spending bill this morning. That seems like ages ago and now the dow is down 812 points. It kinda looks like no amount of money can fix which is gumming up and rupturing in great part to the coronavirus lowdown. It is hitting our nation with a 12 punch after last years trade war, we will take you life to the port of long beach in what is now the fullblown shipping container crunch. From ports to people as 50 new virus deaths overnight add to italy fast growing number of victims, how is the biggest name and traveled to her that region handling the situation. Steven perillo of Steven Perillo tours joins us in a fox business exclusive on cancellations and his new policy. Less than an hour to the closing bell, lets start the claman countdown. Liz we have a bunch of breaking
Power lunch starts now welcome to power hundred mp. Its a record day on wall street the s p 500 notching new highs when tyler mentioned the dow and nasdaq are in striking distance. The nasdaq about 13 points away from that mark kelly. All right thank you very much. For more on whats sending stocks to new records today, lets go to bob at the New York Stock Exchange bob. Three things that are really mattering right now. Number one, trade talk optimism. Number two, the Federal Reserve cutting likely for the third time this year, this week and finally the Consumer Holding up well i think the Consumer Holding up is the key to all of this. I looked at the earnings calls for the 40 of kpacompanies that are reported so far, very clear. The consumer is holding up well and theres no concerns about a recession in 2020. Richard seeing the capital one ceo. I think the u. S. Economy and consumer is in pretty good shape. Me echoed many bank ceos that i heard saying the same thing. As for recession co