earlier today, i got the chance to speak to danny meyer, c.e.o.p and the shake shack. we'll talk about the controversy of the small business loan shake shack gave back. welcome to "the daily distancing show." >> good to be distant from you. >> trevor: we'll have to figure out new language and how we react with people. let's talk about what's going on in the world of restaurants now. you have been in the restaurant business for many decades you started some of the most iconic chains including shake shack, which means your companies are responsible for thousands of employees. what is the state of the restaurant business right now in america? >> it's bleak right now, and my heart goes out to -- i believe there's something like 10 million unemployed restaurant workers in the country right now. my heart also goes out to all the people we do business with. so think about the farmers, the growers, the fishermen, the people who do our flowers, the people who do our linen. nobody's got a job now and we're waiting till it feels safe to bring our teams back

david: we are talking with danny meyer, the head of the union square hospitality group.estion ofsly a whether people are confident to come back, not just when they can. we have spoken to others in other sectors who say the same thing. are you saying that we have to wait for the science as a practical matter? we don't have the equivalent of a metal detector to make you feel comfortable going back into the restaurant. danny: as of this minute, i don't know of a virus detector. we will be deploying everything we can -- it could be a thermometer -- and that will give you some comfort. it may be testing our employees. it might even be the kinds of things that i'm hearing about, like health passports. when you show up at the restaurant, using a qr code or some other means to connect to a reservation system, you can let us know that you are healthy. that would make anyone else in the dining room feel more healthy. this is a two-way street. it starts with our staff. it has to feel safe for our staff to come to work. that involves everything from public transportation feeling saf

danny meyer is a very good example of that and shame on him. charles: absolutely.it's great to be back, and it is really especially great to have you back on my first show in a couple weeks. thank you. >> happy to have you, charles. nice to see you again. charles: all righty. the mass exodus from cities turning into suburbs now the new hot spot, a move i was clearly predicting just a few months ago. gerri willis joins us now with more on the boom to the burbs. >> that's right, charles. homebuyer interest is spiking in suburban and rural areas outside of the major cities. most of the money, though, being put down right now is for rentals, in the areas that families look for alternatives to city dwelling over the summer. listen. >> our short-term rental market has nearly doubled year over year. i think this is very similar to 9/11, where there was -- it was very fear driven and panic. the time of year with the kids being out of school, knowing that the summer was coming, i think a lot of people decided let's just get out of dodge and go into a short-term rental, a th

danny meyers not going to open his restaurant because he can't make money with half occupancy which is what's required employees themselves need to think about the fact that 60% of all american households have high risk residents in them. even though you're perfectly fine as a young person who is healthy and in good shape going back to work, if you get the virus and you don't know it, you may infect people you live with and you need to encourage your employers and ask them to answer question before you go back to the office about how they're going to develop approaches for instant point of access monitoring and reconfiguring spaces to reduce the risk you'll be affected. >> dan, we have to leave it there. thank you for your time. >> thank you >> kel >> fascinating >>> still ahead, real estate is the worst performing sector today. check out the pain in the commercial players as many americans are working from home. lsg is down 60% this year. we're going to have the story and a traders take >>> take a look at scotts miracle gro. its shares are near all time highs as it benefits as people

founder of shake shack danny meyer and daniel lubeski of kind. >>> a happy mother's day to the moms outre. woging from home, becoming teachers, entertainers and those on the front line we thank you you specifically a. mother of new york finding this pandemic with her mother by her side. >> when she told me that she was going to nursing i was so elated and i was like, chelsea, i think you're choosing the right path. >> i always looked up to her and kind of knew this was the path that i thought i would want to take. >>y that and chelsea, a mother/daughter nursing team. chelsea followed in her mom's footsteps into nursing and to mount sinai hospital in new york city. inseparable from the moment chelsea was born in that very hospital. we thank you. more "velshi" after this. how about no no uh uh, no way come on, no no n-n-n-no-no only discover has no annual fee on any card. why accept it frompt an incompyour allergy pills?e else. n-n-n-no-no flonase sensimist. nothing stronger. nothing gentler. nothing lasts longer. flonase sensimist. 24 hour non-drowsy allergy relief our bargain detergent

want -- as long as it's anonmized i guess that it's useful information real quickly before you go, danny meyering about not reopening the restaurants because the level of demand is simply not coming back in the foreseeable future does something leek that send more of a chill down your spine that these are the big players to step up right now >> well, look. danny is a great friend. actually we're having him operate our food service in our new building in brooklyn at dock 72 but i think it's really, you know, it's been a lot of discussion about state and city funding and i think the house today hopefully or monday will pass their covid fourth stimulus bill with billions of dollars. not just for new york. new york state 8% of the gdp new york city is 5%. so we need not just us but every city across the country needs that stimulus dollars to get funding back into the city we have taken tremendous hits on city revenues, transfer tax, income tax we need that revenue to get back in there and support our basic functions and i think, you know, restaurants, you know, a local restaurant that my wife and

until we have a vaccine that works, that's at scale i mean, i'm sitting here in new york, my buddy danny meyer saying aisle not going to be able to reopen my restaurants until we have a vaccine it's not going to work woint i won't be profitable. it won't be safe you're getting stories like that whether it's the airlines or the hospitality industry, sports industry, entertainment. how to wdo we get kids back in school the new normal is not going to be the old normal. that is a minimum of three years before we work our way through it combine that with the scale of it and it doesn't mean this is like the great depression of 100 years ago because we're a lot wealthier than we were then. today, even emerging market economies, their middle classes are wealthier than the middle class in the united states was 100 years ago. there's more resilience but if you still look at what the definition of a depression is, we're entering one >> occupy wall street, i don't think started until 2010 or 2011 tlp there was a real shell shocked mentality. what do you think is right remedy is? immediate grants for hard

shake shack founder danny meyer has been one of the most well-known names in restaurants.oined the governor's task force to reopen new york after he saw his own businesses take a massive hit. in february, gabrielle stallman had eight thriving restaurants in new york city. now just two months later, he's at risk of losing absolutely everything. the two men join me now. danny, restaurants are starting to reopen in some states. you're on the task force to reopen new york. what does it look like? it's no surprise that revenue is down 78%. we asked our restaurants to close. but reopening at 25% or 50% capacity, can that do anything? can restaurants stay alive? >> not for full service restaurants, it won't. for fast, casual, fine casual, quick service restaurants where dining in the restaurant is -- takeout and delivery are also just fine, those are going to be the first to come back, but a lot of them have already pivoted to curbside service and delivery. for full-service restaurants, the kind that we have come to love because we welcome you and know your name and, you know, th

because danny meyer talks to bloomberg and says he has no interest or excitement in having a half-full dining room while everyone is getting their temperature taken and wearing masks for not much money he won't open his new york city dining rooms until there is a vaccine. >> he's dead right if you look at the tennessee pledge, the most likely to be used, you're talking about maybe 40% of the tables in you would have to more than double the price you charge people the serious questions when people come in, where you have to ask them, have they had it, do they know anybody who had it? then you take their temperature. and then you come in for corona at my place. it's like a trifecta of bad among the tables, the questions, and you can't sit at the bar, by the way. that's another great thing the bar at manhattan is one of the greatest places on earth i mentioned yesterday as my favorite restaurant. it's devastating danny knows hospitality. it's the most inhospitable thing in the world to have a guy with gloves and a mask saying do you or have you ever had this virus? i mean, no, people won'

one of new york city's iconic restauranteurs is danny meyer, and he says, get this , he expects restaurants restaurants in new york, will remain closed until there's a virus vaccine. that's a long time away. bar rescue guy, jon taffer joins us now, jon, that's a non- starter. if you have a restaurant and you have to keep it closed for months and months on end your restaurant goes out the door doesn't it? >> not necessarily stuart. we're spending an awful lot of money sustaining the business during a period where we have such limited revenue potential, so i could see the business decision rather than investing my money in sustaining which i might not be able to sustain for a very long period of time so maybe i should wait until the revenue potential is greater , and apply my resources to reopening then. so it's not an illogical strategy to me in many cases it makes sense. stuart: okay, especially for that kind of restaurant, which he runs, that's a white table cloth operation which you don't do well with social distancing like that. okay, now, let's talk about social distancing in a bar. how