Natasha Wood, Commercial Leasing Specialist

Here's what's happening..... * U.S. unemployment for ages 1619 hit 32% in April, the highest since at least 1948!! It’s expected to keep climbing as the academic year-end! * Globally, over one-sixth of young workers have stopped working during the pandemic - the equivalent of 305 million full-time jobs! * Instagram is launching new tools to enable video creators to make money. You know what that means more ads. Testing begins this week and includes Ads on IGTV and badges viewers can purchase during Instagram Live videos. * Little Island will be ready in Spring 2021! Pier 55 in NYC will have a new 2 acre park designed to resemble a leaf floating on water. sweet.

:::WHAT'S IN THE NEWS::: New York: NYC Mayor Bill de Blasio canceled summer festivals, parades, and concerts through June, including the Pride March. The state asked the federal government for $4 billion in loans to cover unemployment checks. Georgia (the U.S. state): Gov. Brian Kemp said some businesses, including gyms and bowling alleys, can reopen Friday provided they comply with social distancing and sanitation measures. Tennessee and South Carolina also announced plans ...to ease lockdowns. - Starting this Thursday, Scott will embark on a worldwide concert tour inside the popular video game Fortnite. - United Airlines expects to report a pretax loss of $2.1 billion in Q1. - The National Restaurant Association said U.S. restaurants could lose $240 billion by the end of the year. - Amazon has installed thermal cameras in its warehouses to scan workers for coronavirus symptoms. - Restaurant chains like Shake Shack and Fogo de Chão were awarded small business loans from the $350 billion Paycheck Protection Program while many independent stores missed out. Yesterday, Shake Shack said it would return the $10 million it was given, but Fogo de Chão CEO Barry McGowan CEO told the WSJ, The scale of our business doesn’t matter...all of our restaurants count, citing contributions to local economies. Should these restaurant chains have been eligible for PPP funds? MY ANSWER IS NO!!

Remember when Congress passed that historic $2 trillion relief package with money for small business. Well that ran out of money in two weeks. So the White House and congressional Democrats are now working on a NEW $450 billion relief package for small businesses: $300 billion to replenish the depleted Paycheck Protection Program, $50 billion for the Small Business Administration's disaster relief fund, $75 billion for hospitals, and $25 billion for testing. Let's see how long this one will last.

"Did you hear? The government gave Shake Shack $10 million in emergency loan money meant to prop up small businesses, which the company returned when it realized the fund had been depleted before most small businesses could even apply. A word to the wise: if a business has locations in Times Square and Dubai...it's not a small business." - via Betches

The $349 billion coronavirus loan program for small businesses is out of money after 13 days. Great job. Wonder how many businesses still need money..... #thisismessedup