that is benefit to neiman marcus and customers.up and be a little more responsible by putting that leather bag back into, you know, the economy so we can sell it to somebody else. so benefits us because we have a great supply channel, the newman marcus customer base becomes part of our customer base. the supply i can get from neiman marcus stores are, have a little stronger average sale value on the other side. a little bit higher ticket item. melissa: interesting. a little higher ticket item. very interesting, ben. thank you so much. fascinating business. congratulations to you. somebody doing well in this economy. good for you. connell? connell: very good, "fox business alert" now as we look back on facebook one more time for you. the stock remains higher by just about 10% now in after-hours trading. revenue was better than expected. even though there was a slight miss on the quarterly earnings per share that has not been the focus certainly for investors. this steep decrease reported in advertising revenue for the month of march

i mean, look at neiman marcus.num brand, failed to make interest payments last week on $4.7 billion in debt. neiman could file for bankruptcy, everyone is saying, at least there are reports out there, by the end of this week. your former employer, sak's, has tried three times over the past decade to merge with neiman. will the fourth time be a charm? can saks save neiman or is it unsavable? >> i have no idea whether sak's will do anything with neiman. i will tell you neiman, the real issue there is the debt. this is still a $4 billion, $5 billion company that's generating quite a bit of ebita. the real issue is it has a balance sheet that can't sustain -- that it can't sustain. so if they restructure the debt, if they were to go and close a number of stores, renegotiate rents, could somebody run that company in a manner differently than it's being run today and neiman marcus is a great name and has a very good customer base. so i don't know whether it's going to be sak's, somebody else. it would be a shame to liqui

on people lking in and buying things because of their customer service is about 14,000 ployees at neiman marcuwho have been pandemic. this could be the start to a downwd trend for the big retailers. we know thatmacy's and nordstrom are both looking for some financial help as well have to continue to fall this see how it develops rough the stand home order even one it is lifted they're going to have to adapt in san francisco, sarah stinson kron 4 news. >>next to 5 facebook wantto know if yove had any symptoms of the corovirus how the company is using the data to predict where there might be the next outbreak. plus he was the first celebrity to nounce that he had contracted covid-1now actor tom hanks is openg up about the battle he and his wife had with the virus. and protests are happening across the country including here california, calling for states to rpen by governor say wee still foov 80 ye nian haseen with you through thk and in, and now is no different. we're offering paymt options for current owners. ♪ r serve departnts arhere thelp. and now we're offering more help. no payments

>>and the pad now impting its firsbig retailer neiman marcus set to file for bankruptcy this wk. good morning and thanks for joinin us. i'm darya folsom and i'm mes fletcher. >>there's will tran again the big story that he's following is the fa that for 20 the celebration in golden gate park will not be happening >>mayor london breed says up. t even think about showing >>well. >>now they're not even just telling you they're showing you with force look over my shoulder james nd area. look at a couple of san francisco park rangers are a fair one and his civilian ar and another and a marked unit, they are driving around cracking down on anybody possibly even thinking about entering golden gate park we've been here years past and. any other year we would already see barricades and security guards at this location, but now not this year theyha the authorities out here because if you don't listen to the san francisco. police deptment and mayor of san francisco you could get a ticket and in worst case enario you uld be arrested for 20 is a huge celebration in san frcisco drawing thoands

>>and the pad now impting its firsbig retailer neiman marcus set to file for bankruptcy this wk.morning an

>>and the pandemic don taking down its first major retailer neiman marcus is set to file for bankruptcy this week. good morning and thans for that. >>some darya folsom and i'm james fletcher back to our for 20 story don't head into san francisco thinking you're going to celebrate at golden gate park mayor london breed says. >>you're not welcome today and the copsre going make sure of that will tran out there live this moing they won't even let you get close well. now we're just a few minutes away from the top of the 5 o'clock newscast and we got kicked out some air early en though i told them. >>we're actually trying to do you a favor by passing the message along or else. you could have a busy day turning hundreds if not thousads of people away. it didn't matter we still got kicked out. look at over there james and ari want to quickly show you what's going on you can see the fence around that location they have barricades in place. they're telling people of you come down here. and you give the officers are time you could get a ticket and worst case scenario you could get rested because

>>the luxury retailer neiman marcus is cing bankruptcy >>8.30 is the time and new this morning neiman marcus is abt to become the first major us department ste to file for bankruptcy during this pandic it's a shame at a lot of retailers are struggling cover sarah stinson is in union square from humans with the latest. >>it's rainy man marcus is among many stores down herein union square that are all boarded up and closed and this is happening across the country during this pandemic but for neiman marcs they're facing the closures while facing over $5 llion worth debt. so that's causing them to be on the brinof bankruptcy take a look at this video you can see up close boarded windows do here at down here. no one around er except for a construction workers working on union square and so we're heang several reports that filing for bankruptcy is something human marcus is gong to be doing some time this week as i said the company faces nely $5 billion of debt while all 34 stores are shut down the payments on this bt are millions of dollars month for right now with having little to no incom

with an overhang of debt it had been you know its balance sheet was in a tatters so we knew that neiman marcus would be the 1st one to declare bankruptcy if there was any kind of a red swan or even worse a black swan event of this magnitude and other major retailers such as macy's for years have been kind of doing this slow drip methodology of closing down stores 100 here and 100 there as opposed to really right sizing the company to what demand was for their traditional kinds of department stores again it's tragic and it's awful and i hate to see these people lose their jobs and i do hope that the extra amount of unemployment insurance that is available the stimulus is of assistance to them but again these are some of these retail deaths have been a long time coming a lot of people now also turning to online shopping in the last couple years but even more so now because they are still still selling rather than they're saying the department stores will no longer not necessarily not exist but they are dying down but kristie earnings week continues as we have the group of major airlines t

>>and the pandemic now looks like it's taking down its first major retailer neiman marcus is set to le for bankruptcy. this week. good morng and thanks for joining us. i'm darya folsom. >>let's start with the 4.20 celebration which is often this year. it is april 20 s but there's no sking in groups of golden ga park. and there's a rning from the mayor let'go live to will tran covering the fact that there's no 4.20 this year. >>i think duryea that the message has gotten out loud and clear we don't see anybody showing up even accidentally at 4 20 celebrations in san francisco's golden gate park. let me step out and showou w things are you can see off in the distance there's a fence. they're a sign saying and if that doesn't work all those things d't work. well there's a police officer right the a park ranger to personally tell you yo are not here smoke we unlike the other ears because. well we wan create social distance or lease maintain social distance and the mayor d she realized that y to possibly 20,000 people all cked into golden gate park. robin williams meadow and hi the hill. soc

. >>> there are reports that neiman marcus are the current bankruptcy detection this week. neiman marcus has already shut down all of its 43 stores across the country. >>> our time is 4:25. today, 21 years ago, there was a deadly mass shooting in columbine high school in colorado. two teenaged shooters that later killed themselves. not long after that mass shooting, colorado schools began teaching students lockdown controls that are now common in schools all over the country. >>> yesterday march 25 years of the deadly bombing of the federal building in oklahoma city. it was the deadliest domestic terrorist act in american history. a small group of mourners wearing masks gathered there yesterday at the memorial site in oklahoma city, but there was no official memorial ceremony because of the been of large clark crowds gathering. >>> a fire training center in menlo park has the biggest memorial outside of oklahoma city. they were planning to go back to the city this year, but they couldn't do it because of the health crisis. >>> timeout is 4:26. coming up, why two cdc labs co

. >> neiman marcus is preparing to seek and see protection as early as this week that would make neimans the first major u.s. department store to file for bankruptcy due to the economic fallout from the coronavirus crisis. neiman marcus has already shut down all of its 43 stores across the country. >>> students were doing distance learning in the east bay are now receiving nutritious meals school kitchens are open, while can passes are closed in the livermore valley joint unified school district, starting today grab and go meals are available, for schools to any students age 18 and younger. >> we are serving 18 and under, in the city of livermore. lunch breakfast, and dinner. and they come through for we have in our time. they come through, and them all out. to the family. >> reporter: grab and go meals are being distributed christiansen, east avenue middle schools junction k-8, marilyn avenue elementary 930 a.m., 1030 a.m. monday through friday caltrans is now accepting applications from food truck owners to temporarily sell food, highway rest areas covid-19 health emergency. according

and neiman marcus expected to file for bankruptcy.r missing a $72 million interest payment, the retailer reportedly $4 billion in debt was forced to close all of its stores due to the coronavirus outbreak and furlough most of its 14,000 employees. >>> and the push to get college students back on campus safely. in a "new york times" op-ed, brown university president christina paxson saying the "reopening of college and university campuses in the fall should be a national priority." she's urging institutions to develop plans to test, trace and separate students, even renting hotel rooms if they have to so students can return. >>> and when we come back, going the distance. the nurse traveling to a different state to get an 82-year-old coronavirus patient life-saving treatment. stay with us. ill going for my b, even though i live with a higher risk of stroke due to afib not caused by a heart valve problem. so if there's a better treatment than warfarin, i'll go for that. eliquis. eliquis is proven to reduce stroke risk better than warfari

that would make neiman marcus the first major u.s.tment store to file for bankruptcy due to the economic fallout from the coronavirus crisis. neiman marcus has already shut down all of its 43 stores across the country. >> santa clara city hall is getting flooded with grant applications from small businesses and nonprofit groups. city leaders begin accepting applications friday morning and have received more than 250 request by that same afternoon. the city has earmarked more than $500,000 in grant money to help local businesses and nonprofit groups during the shelter in place order.>>> schools have been shut down because of the coronavirus, and that may be permanent for some colleges and universities. >> reporter: it's a sign of what's to come for other cash- strapped institutions and a glimpse into the possible impact on cities and towns across america where schools are the primary economic driver. the vote would permanently close three vermont state colleges because of covid-19. the chancellor said the schools were already in financ

what do you expect neiman to do? how would that look? what will stay open and what are you expecting? >> i think the neiman situation is an example of what's really going on in retail right now where these companies first were facing major liquidity issues. now they're facing the question of what's it going to look like to open. and then what are sales going to be like? neiman's has a situation where they had highly leveraged, much too much debt. it was a company on the edge with its debt before the coronavirus hit and now thaur going to -- i think that bankruptcy will allow them to wipe out part of their debt. maybe they'll end up closing some stores. i don't know if they'll liquidate or not that's a possibility there are a lot of possibilities other people might come in richard saks has been talking about wanting to open neiman a lot of that story still to be written. >> some valuable assets. i can't imagine bergdorf doesn't emerge from this he this won't close in new york, will they? >> no. neiman is a $4 billion company making a fair

economic fallout from the coronavirus prices in crisis and neiman marcus has shut down all of its 43 stores across the country. >>> former first lady michelle obama is joining the list of famous faces who are bringing storytime to children across the country.>> silly old fox doesn't he know? there is no such thing as a gruff full of. >> this morning education advocate kicked off mondays with michelle she read one of her favorites children's books and it gave children stuck at home a fun break and she plans on reading classic children's books at 9 am every monday through may 11 and the readings are live streamed on pbs kids, facebook and youtube pages. >>> hallmark is given away 2 million thank you cards, they want to help people show their appreciation for essential workers to become the backbone of the country during this pandemic and hallmark has a form on its website you can request those free cards. >> thank you for watching us on ktvu fox 2 news at noon, check out the latest news and weather, just go to ktvu.com or download our app, we will see you again at 4 pm. doctor oz start

are people going to be coming back into neiman marcus and how long is it i think they come back i don't know how long this takes. >> what about what we have witnessed over the last 24 hours with oil and energy. how do you see that unfolding from the stand point of a distressed credit investor >> i think what you're seeing is with the price of oil going down mainly because there's no demand we're all staying home you're going into the summer you're just going to be usin oil a lot less because of that, companies, their revenue is getting crushed. you'll have more an more of those companies filing for bankruptcy because they can't operate at oil being at $20. >> rob, do you have something for marc lasry >> sure. in traditional high yield are you seeing continued opportunity in that asset class pare you investing along side the fed in most of the assets >> we're investing a little. we're doing the new issues around 12% the high yield market, i think you'll find there's going to be 15% default rate we're focused on is all the different restructuring that will be coming up. you got a number o

the problems at disney, neiman marcus and best buy. to connect really matters. to keep customers and employees in the know. to keep business moving. comcast business is prepared for times like these. powered by the nation's largest gig-speed network. to help give you the speed, reliability, and security you need. tools to manage your business from any device, anywhere. and a team of experts - here for you 24/7. we've always believed in the power of working together. that's why, when every connection counts... you can count on us. [ music playing ] >> welcome back. this is "take on me." all right. if you want to request a song, you know how to do it. the best way to do it is going the social media side. facebook, twitter and instagram. send us the request. use the hashtag ktvu. >> thank you, sal. >>> 6:25 is the time right now. well, today the countries largest aircraft manufacture pl they will open what makes the max jets. 27,000 employees are scheduled to return before midnight tonight. that's 17% of the boeings total workforce. now, the workers will be require

. >>> and there are reports that neiman marcus is preparing to seek the bankruptcy as early as this weekthat's going to make them the first store to file for bankruptcy. neiman marcus has already shut down all of the 4 stores across the country. >>> well, 21 years ago today was the deadly mass shooting at columbine high school in colorado. 12 students and a teacher were killed. they were wounded by two teenage shooters that killed themselves. not long after thatkdown drills that are now common across the country. >>> yesterday marked 25 years since the bombing in the federal build nothing oklahoma city. 1268 people were killed in the deadliest act in u.s. history. the dead included 19 children at a daycare center. a handful of mourner wearing masks gothserred yesterday at the memorial and museum in oklahoma city. there was no formal memorial ceremony because of the ban on the large crowds. >>> now, the first training center in the park has the largest memorial outside of oklahoma city. many firefighters were there. among those that rushed to the city after the bombing. they were plan to

high-end retailer neiman marcus preparing to file for bankruptcy.ambling to avoid the same fate. other retailers are seeing more business. walmart looking to hire 50,000 more employees on top of the 150,000 they just hired to help with increased demand. and other stores are adapting to the crisis. some whole foods in new york city and baltimore are now open for only online orders to speed up grocery deliveries and prevent shoppers from packing into the aisles. one industry group claims 85% of grocery store customers are not practicing social distancing in the stores. at least one small businessman says he won't wait much longer for stay-at-home orders to be lifted and plans to reopen his wisconsin restaurant, despite orders not to. >> if you want to stay at home, my god, this is america, stay at home, you have every right to. but for the people that are tired of it and want to come out and have a meal by me, please do. you have that right. >> reporter: the small business administration says they've already approved more than 1.5 million applications

neiman marcus could file for bankruptcy as soon as this week because of the economic fallout from the coronavirus pandemic. this is according to reuters. sources say that the retailer is in the final s negotiating a loan and filing for bankruptcy protection. neiman marcus hasfurloughed roughly 14,000 employees. >>> shake shack said it is returning a $10 million loan it received from the federal government. the burger chain was awarded the loan to help small businesses and that ran out of funding last week. shake shack ceo said the chain is giving back the loan saying the company no longer needs the money. >>> we're taking a live look at the new york stock exchange as trading gets under way this morning. you can see, we're starting down about 335 points. investors are reacting to a sharp decline in crude oil prices. >>> we will get a closer look at the coronavirus' impact this week. nearly a fifth of the companies listed on the s&p 500 earnings report, they will report their earnings, several airlines including coca-cola and tech companies like intel and ibm are among the companies tha

. >>> the coronavirus pandemic could be forcing neiman marcus to file for bankruptcy according to reuters. the dallas-based company is debt and doesn't have many options after closing its stores during the pandemic. the bankruptcy filing could happen as early as this week >>> tyson foods says it's increasing safety measures after coronavirus outbreak. at least 90 workers at the tennessee plant tested positive and the company says, it's following cdc guidelines to address the situation. workers are required to wear masks and take their temperatures before beginning each shift. outbreaks like that are straining the nation's food supplies as an increase in workers are infected. dean reynolds on the impact the virus is having on that me packing industry. >> reporter: even with the smithfield pork processing plant in sioux falls, south dakota now the hottest coronavirus hotspot in the country, republican governor says a stay-at-home order doesn't fit her state. >> we are different in the big populated cities. new york city that you see on tv. we are spread out. there's a lot more open space in

also word today that neiman marcus has decided to cut more than 400 bay area jobs amid reports that's clothing store could file for bankruptcy as soon as this week. >>> a suspected east bay car thief was arrested twice and under an hour because the jail had to let him go for the first time. 32-year-old rocky music was arrested in oakland sunday morning for allegedly stealing a car, but because current covid-19 rules require zero bail for nonviolent offenses, he was cited and released. 35 minutes later, he was arrested again. this time on suspicion of carjacking one driver and attempting to carjack another. >> he could steal a car every day and be out every single campaign everyone in law enforcement is very concerned about the bail schedule. >> put those resources into the community that would keep people from going to jail in the first place. >> the zero bail order will continue in each county for 90 days after the shelter-in-place is lifted. as for rocky music, he was held on bail after that second arrest, because carjacking is considered a violent crime. >>> a new effort to test th

the company has furloughed most of his 14,000 workers, the first to neiman marcus store opened in dallasas back in 19 '07. this is another example of how this pandemic is hurting the retail industry shake shack says it will return the $10 million it got from the paycheck protection program. >>the founder and ceo of the burger chain announced his business was able to quote access additional capital we needed to ensure long-term stability. the statement also says shake shack would benefit from the financial boost, but isn't keeping the funds because it has access to capital that others do not next on kron 4 news the coronavirus pandemic leading to the cancellation of events large and small around the country but one beer company wants to help soften the blow for some. >>we'll tell you which beer company wants to offer this pandemic has disrupted everything from the economy to weddings. bush is offering a year's supply of free beer to couples who had to change their wedding plans because of the virus. the company plans to select 250 winners using a social media sweepstakes. >>to enter coupl

neiman marcus is expected to declare bankruptcy in the coming days. >>> new video from the port of los angeles. 24 well takers anchored off shore, four times the usual number waiting to unload crude for mexico or alaska. will companies have so much supply they have run out of storage. many ports around the world, companies are storing it on ships for now. >>> wall street tumbled on tuesday amid another selloff in commodities. the dow dropped 631, nasdaq lost 297, s&p 500 fell 86. will continues to lead the selloff. the cost of a barrel of u.s. oil to be delivered in june fell 40% settling below $20 a barrel. >>> netflix is one of the few companies benefiting from the steno mortar. the los gatos company reported a record-breaking jump in subscribers. they revealed it added more than 15 million new subscribers in the first quarter, more than double its expected 7.2 million. the company saw quarterly revenue of more than $5 billion but in a letter to shareholders the company warned that it may see a drop in viewership and membership growth once the lockdown is lifted. >>> we are keeping a

neiman marcus could file for bankruptcy and jcpenney is considering it.h so much of the economy shut down due to the vieries you may need to spend more time thinking about how to mark the holiday. retail me not says 75% of americans plan to buy something for mother's day this year. they also plan to spend about the same, $97, versus $103 last year. flowers are still the top gift followed by gift cards, chocolate and beauty products. kari, back to you. >>> let's look at our first, a slow warm-up for the morning in the south bay. this afternoon a nice one with sunshine. we'll talk about a big warm-up in our forecast coming up in a few minutes. >>> and i've been tracking a crash in oakland. we'll talk about a couple >>> and here we are on this tuesday morning taking a live look out on walnut creek. good morning to you and good morning to you at home as well. the team all here this morning as we get started with "today in the bay." good morning. >> good morning, marcus. how are you? >> i'm doing great. >> hi, kari, mike. >> hello. >> hey, guys. >> getting the

names you've been talking about like neiman marcus or jc penny, but there are others that maybe wereld be pushing possible to a bankruptcy now. most of the sales are still generated in physical stores, and the business models just weren't built to sustain closures for this amount of time expenses and fixed costs remain even if the cash flow is zero or near zero. many have e-commerce operations that are still running, some, including dick's sporting goods and american eagle said online sales took off when stores were closed but three quarters of dick's sales are still in stores, about 70% for american eagle so it doesn't quite make up for the store's loss and every retailer is doing what they can to shore up liquidity and calculate how long they can keep going and also wondering if shoppers will come back when stores begin to reopen and what shopping behavior could look like it could mean bankruptcies from retailers that were previously healthier and weren't considered in distress even 30 days ago one bankruptcy expert i spoke to used the term tsunami to the number of bankruptcies tha

neiman marcus could be the first major department store to succumb to the economic fallout. the retailer could file for bankruptcy as soon as this week. the company has temporarily shut stores including ones in san francisco, palo alto and walnut creek and furloughed most employees. they skipped payments on millions of dollars in loans. gas prices in some states are at their lowest level in more than a decade as lockdowns continue to hit fuel demand. the big losses in oil prices are down more than 70% this year. gasbuddy.com says wisconsin, kentucky, michigan, oklahoma, minnesota and illinois are all seeing their lowest prices since at least 2008. in california gas averaging $2.81 a gallon. the state is likely to have one of the biggest remaining price drops in the country. kari hall, back over to you. >>> thank you, frank. we're going to start out with some light rain across parts of the bay area this morning. in fact, in concord, some sprinkles. we won't see that all day as we see a mix of sun and clouds. more on this and the rest of the forecast coming up after the break.

high-end retailer neiman marcus preparing to file for bankruptcy while macy's, jcpenney and nordstrom are scrambling to avoid the same fate. but walmart looking to hire 50,000 employees on top of the 150,000 they just hired and other stores are adapting to the crisis. some whole foods in new york city and baltimore are now open for only online orders to speed up grocery deliveries and prevent shoppers from packing into the aisles. one industry group claims 85% of customers are not practicing social distancing in the stores. >>> homeowners, renters and small businesses may get some financial relief in richmond. tomorrow, the city council will consider an emergency order to suspend rent and mortgage payments. its supporters say it's not fair to expect people to pay their largest bills while they can't work. the proposed order calls for establishing a city service to assist small businesses and landlords that are filing for government assistance. the city already has a moratorium on coronavirus-related evictions. >>> starting on wednesday, alameda, contra costa and marin will be enforcin

of retailers that were on the brink well before coronavirus names you've been talking about like a neiman-marcusut there are also others that were healthier, but could be pushing possible to a bankruptcy now most of the sales are still generated in physical stores and the business models just weren't built to sustain closures for this amount of time. you've got expenses and fixed costs that remain even if the cash flow in store is zero or near zero. many are still running including dick's sporting goods and american eagle said online sales took off when stores were closed, but three-quarters of dick's sporting goods total sales are still in stores about 70% for american eagle and it doesn't quite make up for the store's loss and every retailer right now is doing what they can to shore up liquidity, to calculate how much longer they can keep going under these unprecedented conditions and also wondering if shoppers will come back to reopen and what shopping behavior will look like put together it could mean bank repo reports -- and more than know one restructuring or bankruptcy expert referred to

neiman marcus is likely to file for bankruptcy.that tells the whole story of the department stores, doesn't it? we have seen stock prices just crumble. macy's last week was down to $4, $5, $6 a share, i believe. now we have neiman marcus considering filing for bankruptcy. that just tells the story. meanwhile, some retailers are doing extremely well. i noticed that walmart has now turned higher even in a downside move for the overall market. there are some winners. walmart, best buy is up again, target still doing well. they are down today but have been doing well. neiman marcus may be bankrupt. >>> speaker pelosi has ripped president trump, calling him a weak leader. she says he's failed on the virus response. you will hear exactly what the speaker said. >>> next, i have a guy who says tesla's stock, $737 now, he says it's going down to $70 a share. i can understand that with gas so cheap, who's buying electric? he's on the show. after this. military veteran, here's money saving news from newday usa. your spouse's va streamline ref

raising thanks for joining us and listening post you were to piece for the american website neiman reports about the italian media's reporting of the crisis you criticized some news outlets for irresponsible journalism what were some of the problems in your opinion i'll give you just an example. of in the last say about on march 8th when the italy 1st to clear the degree of that news lockdown in the north a region of longer of the published an early draft of the decree of the government that will lock down the whole region of 16000000 people that leave generated immediately a frenzy according to a newspaper poll in fact of what began on that lake pushed for 1000 people to move around the country in a moment when it was absolutely crucial the people would respect orders and not move around cohorts probably but it was something else president at has been doing in the banking fake news about the coronavirus can you talk about some of the misinformation you're seeing spreading around online and where it's coming from she said it's a bad look to do if she'll win eat the shiny sake the new ones

high-end retailer neiman marcus preparing to file for bankruptcy while macy's, jcpenny and nordstromre scrambling to avoid the same fate. but other retailers are seeing more business. walmart looking to hire 50,000 more employees on top of the 150,000 they just hired. and other stores are adapting to the crisis. some whole foods in new york city and baltimore are nowpe for only online orders to speed up grocery deliveries and to prevent shoppers from packing into the aisles. one industry group claims 85% of grocery store customers are not practicing social distancing in the stores, but at least one small businessman says he plans to reopen his wisconsin restaurant, despite orders not to. >> for the people that are tired of it and want to come out and have a meal by me, please do. you have that right. >> reporter: andrea fujii, abc news, new york. >> andrea, thank you. >>> there is growing backlash this morning after several large restaurant chains were able to get money from the government's small business relief program. they include a major steakhouse chain. critics say the larger

thanks for joining us in the listening post you were the piece for the american web site neiman report about the italian media's reporting of the crisis you criticize some news outlets for irresponsible journalism what were some of the problems in your opinion i'll give you just an example it could be over the last see it on march 8th when it really 1st be clear that because it is locked down in the north a region not longer the a published an early draft of the decree of the government that will lock down the whole region of $16000000.00 people that can be generated immediately or from. a for the 2 newspaper called impossible to get off that lake. for 1000 or to move around the country in a moment when it was absolutely crucial to the people to respect orders and not move around for boys for use by those doing something else president has been doing is the banking fake news about the coronavirus can you talk about some of the misinformation you seen spreading around online and where it's coming from just on a surprised look don't do it feel any shalini faith in you is this england in

see some high profile companies move toward bankruptcy we saw victoria secret's 24 hour fitness at neiman marcus at cetera but the real story is really the hundreds of thousands of small businesses that are suffering the restaurant industry which is largely independent employees employs about 11000000 workers and about a 3rd of aren't going to reopen again are we underestimating how severe this downturn will be because even as lockdowns get left and many of these jobs are gone for good . yeah absolutely some of those jobs won't come back some of the jobs there won't be demand for because the the demand from the customer side will be listening you know restaurants maybe you've got to pull out some tables in your restaurant and maybe only fill half of the capacity that you could before things of that sort some people who could go to restaurants movie theaters whatever maybe they do maybe they don't so there's you know even once you kind of flip the switch and allow the economy to come back it's still going to be tepid probably it at 1st to what it should be and some of these jobs won't come

. >> so yesterday, it was neiman marcus today, it is lord&taylor looking at bankruptcy. chapter 11 is one of the options being explored also trying to explore relief. airlines looking to keep payroll. you can see those are down as much as 2.5% there hertz will layoff 10,000 emploeys they had about 38,000 employees as of december 31. the majority in the u.s. late last month, they said they were implementing furloughs across north america >> tough times for more americans and more american families >>> really, a raging debate. with the last two weeks, stocks saw a violent 25% to 30% snap back was that a sign of near-term lows or a bounce in otherwise bear and declining market. getting you insight into this discussion, today. >> others say we are in a bear market others say no. what say you >> that's right. a u shape, v shape i think the most safe answer is the u shape. we know it is going to be bad. how long does it take us to get back to work i think that's why the u shape sounds like an attractive view point. if it takes longer, this volatility can last longer you have t

neiman marcus is shut down all of its 43 stores across the country.return $10 million in loans that got from the paycheck protection program in the decision was made amid widespread criticism over who got access to the funds aimed at saving small businesses. they were able to obtain other funding and until every restaurant has had the same opportunity to receive assistance we are returning hours. widespread criticism same paycheck fund went to large companies even though congress set up the plan to help small businesses. that includes ruth chris steakhouse received $20 million worth of loans. the resilient chain folk of child refreeze $20 million in j alexander $50 million and it was chain restaurants apply as long as each does not have more than 500 employees in the ceo of wynn resorts and casinos calling on nevada's governor to reopen the strip before the end of may. matt wrote an editorial guidelines could be put into place and suggests reduced occupancy, social distancing and no large groups and suggest limiting the number of people in an elevator

but its big box and department store retailers, stores like neiman marcus, jcpenney, bed bath & beyondnd macy is facing more debt and less confidence than ever. so why are they in such big trouble? the former ceo of toys 'r' us says there's just too many of them. >> there are far too many retailers for the world before the coronavirus. there are two to three times the retail square footage per capita in the united states that was required before the coronavirus hit. so much of this has to be rationalized. >> that's the retail side of things. but bankruptcy filings among small businesses and individuals, they are expected to spike as well. the american bankruptcy institute says if you think it's bad now, buckle up. the first quarter filings represent the calm before the storm. and, already more than 5,700 this year. the peak of bankruptcies hit two years later when they soared to 1.6 million and we are no more e near that now. they raised that limits for small businesses to file, and the good news for individuals is that u.s. banks are better capitalized and back in 2008. they may be mo

neiman marcus is expected to declare bankruptcy in the coming days. >>> with no season, one team is nowg cuts. the giants employees now looking for work, after the break, on kpix 5 and streaming on cbsn bay area. >>> here is a live look with the san jose, looking at downtown san jose with clear skies out there. how warm it's going to get in your neighborhood and how long the warm weather will last, coming up. >>> we have a traffic alert and road work on the golden gate bridge. details coming up. >>> kpix 5 wants to bring you the good news happening in the bay area as well and connect you to the people looking to help. go to kpix.com/together. you will find stories of how we are better together. you can also send your story ideas to together@cbs.com. mrs. walker. michael vasquez! come over here. i've heard such good things about you, your company. well, i wouldn't have done any of it without you. without this place. this is for you. michael, you didn't have to... and, we're going to need some help with the rest. you've worked so hard to achieve so much. perhaps it's time to partner with

neiman marcus is expected to file for bankruptcy next week. these are emotional times and the emotional impact for how people view their own lives and what the future holds. shame on her. they have no shame and they clearly don't care about the individual in this country at any point. steve: that's right. that's really strongly put and i totally agree. if we weren't on tv i speak and even more strong term because every time i see her i just get so angry with her attitude just politicizing this to an unbelievable degree. she sang all this about the president, and at the same time, for political reasons, she is blocking the money. she's blocking the lifeline money for small businesses. they go on about how they're the party of working people. if she says the president is killing people, then are we entitled to say the same applies to all the consequences from her actions on small business. >> nancy pelosi is the hypocrite of the house while donald trump was shutting down travel from china, nancy pelosi was volunteering as a tour guide in chinato

neiman marcus is expected to file for bankruptcy next week. these are emotional times and the emotional impact for how people view their own lives and what the future holds. shame on her. they have no shame and they clearly don't care about the individual in this country at any point. steve: that's right. that's really strongly put and i totally agree. if we weren't on tv i speak and even more strong term because every time i see her i just get so angry with her attitude just politicizing this to an unbelievable degree. she sang all this about the president, and at the same time, for political reasons, she is blocking the money. she's blocking the lifeline money for small businesses. they go on about how they're the party of working people. if she says the president is killing people, then are we entitled to say the same applies to all the consequences from her actions on small business. >> nancy pelosi is the hypocrite of the house while donald trump was shutting down travel from china, nancy pelosi was volunteering as a tour guide in chinato