New York business leaders send an SOS to Bill de Blasio at City Hall

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 62 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 28%
  • Publisher: 63%

Nigeria News News

Mayor Bill de Blasio’s response to a letter from business leaders leaves the situation dangerously unclear

The coronavirus pandemic and the climate crisis have laid bare how untenable it will be to continue living in a world unspooled by suspicion and divisionA large group of New York business leaders, all with pedigrees and some of them well-known, sent up a flare over City Hall late last week.

De Blasio, presiding over a city with divergent views among residents of how dire conditions actually are, responded on Twitter: “We’re grateful for our business community and are partnering to rebuild a fairer, better city. Let’s be clear: To restore city services and save jobs, we need long-term borrowing and a federal stimulus — we need these leaders to join the fight to move the City forward.

If the business community’s traditional antipathy towards higher taxes and a more forceful government hand leaves it on the sidelines, it won’t be able to help forge public-private partnerships that could help New York surmount an epic existential crisis that threatens their bottom lines and their employees’ wellbeing.

The group also recognises the brutality of the pandemic’s downdraft in New York: a local unemployment rate expected to average out at about 9.8% for 2020; a million financially distressed households, concentrated in communities of colour and low-wage workers; about a third of the city’s 230,000 small businesses possibly shuttered permanently; corporate sectors of the local economy, particularly real estate, threatened; and 1.2-million office workers operating remotely until Covid-19 abates.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

NEVA MAKGETLA: New business models needed for tourism and other Covid-sensitive industriesThe highest risk economic activities such as public transport just can’t return to pre-pandemic practices
Source: BDliveSA - 🏆 12. / 63 Read more »

China plugs loopholes to curb risks in $49-trillion financial industryNonfinancial companies that do business across at least two financial sectors will require licences
Source: BDliveSA - 🏆 12. / 63 Read more »

MIKE SILUMA: Clicks is a lesson for complacent companiesWill SA business follow peers elsewhere who have taken a stand against social injustice?
Source: SundayTimesZA - 🏆 47. / 51 Read more »