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SAN FRANCISCO (AP) — California’s coronavirus cases are surging and health officials say social gatherings and people not wearing masks or keeping their distance are fueling the rise. Yet it’s businesses that are paying the price in the form of revenue-sapping restrictions. Business owners say that’s not fair and some medical experts say they have a point. Dr. Peter Chin-Hong, a professor who specializes in infectious diseases at the University of California, San Francisco, said restrictions targeting entire classes of businesses aren't very fine-tuned and don't address specific activities that are driving the increase. 635
SAN DIEGO (KGTV): Wall Street set a record last week for the longest "Bull" run in US Stock Market history, topping 3,400 days of growth. Now, financial experts are saying it won't last forever and advising clients to prepare for a downturn."You have to expect at some point, we're due," says Dennis Brewster of SagePoint Financial. "I think everybody's almost forgotten, look at earlier in the year, how sharp the markets broke back in February. So it wouldn't be unusual to see any of those declines coming up later this year or early next year."Brewster says he doesn't expect anything as drastic as 2008, but he still says investors should take a few steps to safeguard their earnings and even make the downturn work in your favor.A lot of it, he says, depends on how close you are to retirement."When you look at the year to year returns, they're all over the board. When you look at the 20-30 year returns they're very close," says Brewster. "If you're younger and have 20-30 year horizons, the day to day gyrations are almost noise to you. But if you're getting closer to retirement or in retirement, then you have to be more careful."'Brewster looked up numbers from the S&P 500 for the last 20 years. He says someone who invested ,000 in 1998 would have lost about ,300 after the crash in 2008. But if they kept their money in until 2018, that same ,000 investment would now be worth more than ,000.He says older investors should be more conservative with their portfolios. Younger investors should increase how much they invest if the market falls, to take advantage of lower prices.As for when the correction could come, Brewster says it's too tough to predict. But he says to watch out for "triggering" events that could rattle the market, some of which may already be happening. Things like trade wars or the Federal Reserve spiking interest rates could be the kind of thing to end the Bull Run."It always goes higher than you think and lower than you think," he says. "You can't ignore it, and you try not to get swallowed by it." 2072
SAN DIEGO, Calif. (KGTV) - With election results ready to come out, Downtown San Diego businesses are bracing for protests. Many business owners in the area say the memories of damage when peaceful protests escalated at the end of May are still fresh, so they boarded up windows as a precautionary step, hoping it turns out to not be needed.Related: Looters smash windows, rob stores in downtown San DiegoAldo Broussard owns Carter’s Diamonds, a jewelry store in a jewelry exchange building that houses dozens of jewelry shops and professionals. He said they boarded up the windows at their business in May and during that time saw damage to surrounding buildings, so they boarded up windows again ahead of the election. He said they took that step to protect the small-business owners inside the facility.“There’s a lot of jewelers in here who have basically all their life savings, all their work, all their tools and without it they can’t make a living so it’s more for protection for everybody in the building,” said Broussard.Broussard added that he doesn’t expect protests to cause damage, but would rather be safe than sorry.“I think overall people are good so I think it’s going to be okay. There might be a few who take advantage of the situation but I think overall it’s going to be fine,” he said.Nearby, Sushi 2 restaurant is another small business bracing for protests or unrest this week. Kuniko Holmes is the owner and said she boarded up her windows in June after receiving some damage during downtown protests. She ended up leaving the boards up through the summer because of uncertainty of the future and also because she knew November could be a stressful month when she would have to board up again.“I wanted to make sure so I don’t have to put it up and down and up and down because it’s work for people and also it costs. As a small business like we are, even putting the board up made it expensive,” she said.Indoor dining was also not allowed during that time, so she ultimately decided that if the boards would be staying up through most of the year, she would make them visually appealing.“We decided to ask local artists to put some great art as you see and it changes the dynamic of how it looks and it just looks so inviting,” she said, referencing the peace signs and hearts painted on the boards.Other downtown businesses that boarded up windows ahead of the election include Ralphs, CVS, 7-eleven and the Church of Scientology.San Diego County law enforcement agencies said they are not aware of any planned protests or possible unrest, but have extra staffing just in case. 2614
SAN DIEGO COUNTY (KGTV) -- With sudden layoffs and overcrowded grocery stores, the coronavirus is making it even more difficult for families to feed themselves. But many are stepping up to distribute food for free.Three hundred sixty-five cars lined up with their trunks popped wide open, ready for bags of free food to be plopped in. Following their new drive-up food bank protocols, volunteers at the Community Through Hope (CTH) warehouse in Chula Vista made no direct contact with the families in line. "We were able to provide so much nutrition in his very safe environment and get it out quickly," Rosey Vasquez, Executive Director of CTH, said. RELATED: South Park restaurant transforms into grocer amid coronavirus closuresSo quickly, they ran out of food in an hour and a half. It was the same story at the Brother Benno Foundation in Oceanside. Their Feeding San Diego distribution was supposed to last all day. But their warehouse cleared up after 150 cars rolled in, in just two hours. Meanwhile, in the Gaslamp District in Downtown San Diego, the kitchen staff at Metl Bar and Restaurant are hard at work. They are not getting nearly as many orders with just take-home and deliveries. But the owners, Jenna and Randy Elskamp, did not want to lay off their staff. Their idea was to have them continue to make hot meals for newly unemployed restaurant workers. RELATED: Grocery stores with hours for seniors amid coronavirus pandemic"We know so many of our friends are not prepared for this, do not have financial means to take care of themselves, and they're all very stressed out," Jenna Elskamp said. "And so giving back to our industry was where we want to help."They have a couple of sponsors now. But the Elskamps have no idea if they could survive this in the long run. But as veterans in the restaurant industry, they said they know the hardships. That is why they set up a section of their website to offer free meals for anyone in the industry struggling to feed themselves."I feel like we are all on a sinking ship right now," Jenna said. "Instead of being the rats who are trying to climb up to the very top of the ship to save themselves, we want to be there at the bottom, trying to help everyone survive. Because we either make it out of this together or we don't. We're just trying to do our part."RELATED: Feeding San Diego adding more pickup locationsStaff at San Diego's many food distribution centers said there is a limited supply. So to have a better chance of getting the food bags, arrive at the warehouses early. For information on Feeding San Diego locations and times, click HERE.For information on Community Through Hope distribution centers and times, click HERE. If you are a recently laid off restaurant worker and would like to join the Metl Meal Program, click HERE. 2818
San Diego Democratic delegate Jess Durfee has attended the last four of his party's conventions to select the presidential nominee.Some days, he spends more than 15 hours attending meetings, luncheons and waiting for major speeches on the floor."There is nothing like attending a convention," he says.There is also nothing like the Democratic National Convention for 2020, which begins Monday. It's going all virtual in the midst of the Coronavirus outbreak. It starts with a keynote speech from Sen. Bernie Sanders, and will conclude Thursday when Joe Biden officially accepts the presidential nomination. Durfee used to attend with his San Diego counterparts. This year he was supposed to go to the convention in Milwaukee. Instead, he'll be joining from his home office in University Heights. "We would normally be seeing one another, even having breakfast together... We'd grab a couple of tables, and say 'these are San Diego tables, get away,'" he said, jokingly.The same virtual format will apply for the Republican National Convention, happening next week. Thad Kousser, a political scientist at UC San Diego, says these conventions are essentially one long political ad. The business of the party is not the priority - it's getting voters excited for November."The big question here is whether America will want to watch something that looks like the Zoom meetings many of us have been in all day," he said. But Kousser said there is intense political interest that could push up viewership. In 2016, 26 million people tuned in for the opening night of the Democratic National Convention.Durfee said if there is a drop off in viewership for the Democrats, he expects the same issue next week when the Republicans hold their convention. 1752