FOUNDER OF HOSPITALITY SQUARE
GROUP AND "NEW YORK TIMES"
COLUMNIST AND HOST OF SQUAWK
BOX.
ANDREW, WHAT DO YOU MAKE OF THE
LATEST BACK AND FORTH ON RELIEF?
>> LOOK, I THINK ULTIMATELY YOU
NEED A BIG DEAL.
THE POLITICS OF A SMALL DEAL ARE
GOING TO BE VAST AND YOU’RE
GOING TO BE DEALING WITH THE
POLITICS OF THAT FOR A VERY LONG
TIME.
IF THE AIRLINES ARE SAVED BUT
SMALL BUSINESSES ARE NOT, IF
SMALL BUSINESSES ARE SAVED BUT
THE UNEMPLOYED ARE NOT GIVEN
ANYTHING, IF CITIES THAT ARE
RUNNING INTO TROUBLE AREN’T
GIVEN ANYTHING, BUT BIG
COMPANIES ARE, IT JUST BECOMES A
MORASS.
AND SO YOU REALLY DO FROM A
POLITICAL PERSPECTIVE, LONG
TERM, I THINK WE SAW THIS IN
2008 WITH THE FINANCIAL CRISIS
WHEN THE BANKS WERE SAVED, WE
LIVED WITH THAT FOR TEN YEARS.
SO I THINK YOU WANT AN OVERALL
PACKAGE.
FRANKLY, I THINK IT IS PROBABLY
ACTUALLY IN BOTH PARTIES’ BEST
INTEREST TO DO IT AND I DO
WONDER WHETHER DEMOCRATS WILL
GET BLAMED IF SOMETHING DOESN’T
HAPPEN.
>> IF YOU JUST HELP BIG
BUSINESS, GET READY FOR OCCUPY
WALL STREET TIMES A MILLION.
DANNY, HOW DO YOU FEEL ABOUT
THAT?
YOU’VE BEEN FIGHTING FOR THE
STAND ALONE BILL FOR RESTAURANTS
FOR MONTHS.
ARE YOU FRUSTRATED THAT SUDDENLY
THE FOCUS IS ON A BILL TO BAIL
OUT AIRLINES WHEN MILLIONS OF
RESTAURANT WORKERS ARE OUT OF
WORK AND HUNDREDS OF THOUSANDS
OF RESTAURANTS ARE CLOSED OR
THEY’RE ON THE BRINK OF CLOSING?
>> I’M NOT FRUSTRATED THAT
AIRLINES ARE A PART OF THE
PACKAGE.
I’M FRUSTRATED IF RESTAURANTS
AND LIVE MUSIC VENUES AND BARS
AND FOOD STRUCKSTRUCKS ARE NOT P
IT.
THIS IS NOT ONLY THE ECONOMIC
ENGINE OF OUR ENTIRE SOCIETY,
BUT IT REPRESENTS THE EMOTIONAL
HEALTH OF OUR COMMUNITIES AS
WELL.
YOU HAVE NO IDEA HOW MUCH
EMOTIONAL HEALING PEOPLE NEED
RIGHT NOW.
THAT HAPPENS IN RESTAURANTS OR
IT DOESN’T.
THINK ABOUT THE MILLIONS AND
MILLIONS OF EMPLOYEES WHO ARE
JUST GETTING JERKED AROUND EVERY
TIME THERE’S A NEW TWEET, EVERY
TIME THERE’S A NEW ABOUT-FACE
WHO ARE BEING CAUGHT IN THIS
POLITICAL MORASS, AS ANDREW JUST
SAID, AND IT’S TIME RESTAURANTS
KNOW HOW TO PLAN.
COLD WEATHER IS ON THE WAY.
OUTDOOR DINING IS ON THE WAY
OUT.
A PLACE LIKE NEW YORK CITY HAS
25% CAPACITY INDOORS, MANDATED
BY GOVERNMENT, THAT’S IMPOSSIBLE
TO MAKE MONEY AT, BUT IT’S A
LIFELINE.
WHAT IS GREAT ABOUT THE
RESTAURANTS ACT WHICH HAS
BIPARTISAN SUPPORT, IT’S BEEN
SUPPORTIVED
SUPPORTED BY DEMOCRATS AND
REPUBLICANS, IT WOULD PROVIDE
FLEXIBLE FUNDING FOR RESTAURANTS
THAT COMPARES THEIR 2019
REVENUES TO THEIR 2020 REVENUES.
AND IT IS A BIG, BIG IMPROVEMENT
ON THE PPP PROGRAM WHICH WE HAD
BACK IN MARCH.
>> ANDREW, WE KNOW THAT CASES
ARE ON THE RISE IN THIS COUNTRY.
WE KNOW THAT THE WEATHER IS
GETTING WORSE.
IF THERE’S NOT ANOTHER ECONOMIC
STIMULUS BILL, WHAT COULD THIS
MEAN ECONOMICALLY FOR THIS
COUNTRY?
IT WAS JAY POWELL JUST A FEW
DAYS AGO WHO WAS URGING CONGRESS
TO DO SOMETHING.
>> LOOK, THIS GOES FROM BEING A
LIQUIDITY CRISIS TO A SOLVENCY
CRISIS AT SOME POINT.
IF WE GO FROM A SITUATION WHERE
WE REALLY GO THROUGH A WINTER
WITHOUT ANYMORE STIMULUS, YOU’RE
GOING TO HAVE A LOT OF
BUSINESSES IN TROUBLE AND YOU’RE
GOING TO HAVE A LOT MORE PEOPLE
UNEMPLOYED.
I THINK THERE’S PROBABLY A
WORTHY DEBATE TO BE HAD ABOUT
HOW YOU TARGET THAT MONEY.
I ULTIMATELY THINK, BY THE WAY,
YOU’RE GOING TO NEED A START-UP
OR A RESTART-UP FUND FOR A LOT
OF BUSINESSES, ESPECIALLY IN THE
RESTAURANTS AND LIVE EVENTS
BUSINESS, COME SPRING AND
SUMMER, HOPEFULLY WHEN THOSE
BUSINESSES HAVE AN OPPORTUNITY
TO RESTART.
THERE’S GOING TO BE A LOT OF
RESTART FUNDING THAT’S GOING TO
BE REQUIRED TO GET THERE AND THE
QUESTION, OF COURSE, IS WHAT DO