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Speaker 1: Welcome to the Bloomberg Markets Podcast. I'm Paul Sweeney. Along

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Speaker 1: with my co host of Bonnie Quinn. Every business day

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Speaker 1: we bring you interviews from CEOs, market pros, and Bloomberg experts,

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Speaker 1: along with essential market moving news. Find the Bloomberg Markets

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Speaker 1: Podcast on Apple podcast or wherever you listen to podcasts,

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Speaker 1: and on Bloomberg dot com. This is Bloomberg Markets. I'm

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Speaker 1: Carol Masser and for Bonnie and Paul. Well, this story

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Speaker 1: has been among the most read since it hit the

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Speaker 1: Bloomberg terminal and has to do with the cruise industry,

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Speaker 1: and basically we know this is an industry that has

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Speaker 1: been hit hard, obviously by the pandemic. We've also seen

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Speaker 1: some of the horror stories as patients tried patients, i

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Speaker 1: should say, as travelers and passengers tried to get off

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Speaker 1: the ships during those early days of the pandemic. Well,

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Speaker 1: someone who's been reporting on the industry from day from

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Speaker 1: day one, as Austin Carr, technology reporter at Bloomberg News,

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Speaker 1: he joins us right now on the phone from Los Angeles.

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Speaker 1: His latest story talks about not the passengers, but the

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Speaker 1: members of cruise and the cruise of the cruise line

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Speaker 1: that had to really stay on the ships for many

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Speaker 1: weeks months until they could get off safely. Austin, good

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Speaker 1: to have you here with us. UM tell us about

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Speaker 1: your story, because you do look specifically at the cruise

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Speaker 1: that were kind of left behind after the passengers left totally.

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Speaker 1: Um So at the beginning of the pandemic when the

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Speaker 1: cruise industry was hit, there was so much emphasis on

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Speaker 1: the passengers and the struggles that they had to both

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Speaker 1: deal with outbreaks aboard several ships owned by operators like

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Speaker 1: Royal Caribbean and Carnival UM. But after they gone off,

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Speaker 1: there was sort of a class of forgotten people, the

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Speaker 1: crew workers, all the sort of lower paid UH folks

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Speaker 1: for often from poorer countries abroad that really struggled to

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Speaker 1: get home due to changing health rules, evolving travel restrictions,

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Speaker 1: borders being struck down shut down, and there was tens

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Speaker 1: of thousands of them stuck at sea. Uh and and

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Speaker 1: this story sort of explores some of the difficult conditions

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Speaker 1: they had to face be they sort of the uncertainty

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Speaker 1: of when they were going to get home and see

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Speaker 1: family being stuck in small cabins in some cases without windows.

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Speaker 1: UM and they're pay, being cut off and just living

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Speaker 1: in a very highly regimented lifestyle due to the pandemic

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Speaker 1: that for a lot of them resulted in uh some

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Speaker 1: mental health issues, depression and anxiety and stress over things

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Speaker 1: like their salaries being cut off and wondering when they

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Speaker 1: were going to get back to work. And this story

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Speaker 1: explores some of those uh sort of cases, the conditions

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Speaker 1: of board ships as well as unfortunately, tragically, the suicides

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Speaker 1: that resulted in certain on these cruises during repatriation. Well

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Speaker 1: and Austin, this is something you know with your reporting

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Speaker 1: that really just always stands out and that it's not

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Speaker 1: just broad strokes. You actually get into the individuals and

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Speaker 1: tell their stories. Give us one of the stories of

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Speaker 1: one of the workers from one of the cruise ships

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Speaker 1: and what they went through and what the outcome was.

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Speaker 1: So well, one of the families that we'd focus on

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Speaker 1: is the Solar family. Uh the a crew member named

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Speaker 1: Joseph Salzer was on a ship called Carnival Breeze. He've

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Speaker 1: been transferred a number of times during the pandemic in

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Speaker 1: an attempt to get home to Hungary, and he really

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Speaker 1: epitomizes what a lot of the cruise industry crew members

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Speaker 1: went through, which was, Yeah, these these isolated effects living

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Speaker 1: in a on a ship where you were stuck in

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Speaker 1: your cabin with mandated curfews, limited time in which you

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Speaker 1: could go outside. For example, this worker might be able

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Speaker 1: to leave for about an hour day for breakfast, but

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Speaker 1: it might take forty five minutes just to get a

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Speaker 1: coffee due to understaffing and sort of social distancing rules

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Speaker 1: that made lines very, very long. Um, you know, people

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Speaker 1: just talked about the monotony of living at sea. They

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Speaker 1: felt like prisoners, they felt like cargo with with sort

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Speaker 1: of no E T A. And ultimately, at some point

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Speaker 1: in this long journey endless journey home, Joseph Salzer hadn't

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Speaker 1: been seen for several days. He missed daily temperature checks,

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Speaker 1: he hadn't responded to text from friends, and they sent

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Speaker 1: crews to check on him, and unfortunately they found him

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Speaker 1: hanged inside his cabin. And the story explores not just

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Speaker 1: what led to that tragedy, but how it affects a

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Speaker 1: family at home having to deal with a death and

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Speaker 1: international waters with the company that sort of incorporated with

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Speaker 1: entities all around the world. Right, and if anybody has

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Speaker 1: been on a cruise ship and and like you have

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Speaker 1: done some reporting you know on Carnival specifically, you know,

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Speaker 1: it is a global workforce. I mean that's kind of

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Speaker 1: what makes it unique. And it's an opportunity for people

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Speaker 1: around the around the globe, and in particular people you

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Speaker 1: know who might have trouble finding jobs in their home country,

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Speaker 1: uh and are just looking for a start somewhere. It's

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Speaker 1: an opportunity for them. So it is a global workforce

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Speaker 1: and your right. So what I want to get to

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Speaker 1: is also a couple of things. First of all, what

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Speaker 1: what do the cruise ship companies say as a result

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Speaker 1: of this, Because it wasn't just it seems like one suicide,

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Speaker 1: but it seems like multiple suicides from some of the

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Speaker 1: crew members. So first off, they do highlight how immensely

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Speaker 1: difficult uh it was to get these crew members home.

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Speaker 1: I mean, it's one thing to offload American taskers at

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Speaker 1: an American port and charted them flights home, but what

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Speaker 1: about workers that are from places like Ukraine and the

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Speaker 1: Philippines and in India. It was a very logistically difficult

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Speaker 1: time getting them home by land air and c especially

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Speaker 1: with the CDC changing a lot of health processes, uh,

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Speaker 1: from from you know, sending people home in US waters,

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Speaker 1: but also abroad just a lot of borders being shut down,

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Speaker 1: and just you know, concern about COVID being spread through

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Speaker 1: these cruise ships. So be'st number one and then the

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Speaker 1: second Um, they do emphasize that they tried to take

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Speaker 1: care of the workers best possible. They provided them with

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Speaker 1: free food, housing, paid for all their transportation getting home,

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Speaker 1: provided them free WiFi, and even counseling services by phone

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Speaker 1: so you could call if you had sort of mental

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Speaker 1: health issue, you would call a hotline and hopefully get

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Speaker 1: in touch with a trained therapist. Um. The issue is,

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Speaker 1: I suppose that when we talk to workers, they've actually

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Speaker 1: felt concerned about these types of hotlines. They were worried

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Speaker 1: that if they sort of disclosed emotional issues that they

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Speaker 1: were dealing with anxiety and stress and depression, that that

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Speaker 1: might jeopardize their employment somehow with the championship going forward.

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Speaker 1: So it was just also just one of the interesting

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Speaker 1: direct of the story is just how taboo of a

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Speaker 1: subject it is among seafarers that they sort of pride

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Speaker 1: themselves on salthy toughness and don't want to admit that

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Speaker 1: they might be dealing with just a very difficult, isolating,

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Speaker 1: trying experience, in many ways a more extreme version of

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Speaker 1: what we're all going through with lockdowns at home. Hey,

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Speaker 1: just got about a minute or so left here. Um.

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Speaker 1: To be fair, Also, I feel like, um, Austin is

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Speaker 1: you know, mental health was not a top of mind

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Speaker 1: issue for I feel like the broader public and certainly

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Speaker 1: for the broader corporate world. You know, most were thinking

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Speaker 1: about physical health. And I mean, I just I've had

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Speaker 1: a lot of conversations too with CEO. Is that you know,

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Speaker 1: the thing that everybody realized is that it wasn't just

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Speaker 1: a physical toll, but a mental wellness toll as well.

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Speaker 1: And I feel like the cruise industry, um, and certainly

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Speaker 1: the cruise employers kind of went through that realization as well.

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Speaker 1: Just got about forty seconds here. Absolutely, it's such a

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Speaker 1: good point, Carol. And one of the psychologists that we

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Speaker 1: talked to for the story just called that sort of

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Speaker 1: a pandemic within the pandemic. In other words, there's been

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Speaker 1: such focus on some of the desks that happened directly

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Speaker 1: through COVID, either due to infections or or otherwise. And

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Speaker 1: this is just also some of the ancillary effects that

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Speaker 1: we have to deal with being isolated at home, and

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Speaker 1: these cruise ship workers really reflect that. If you you've

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Speaker 1: been dealing with that at home, you might really enjoy

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Speaker 1: the story because it talks about some of the trials

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Speaker 1: that they went through in challenges just dealing with that

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Speaker 1: mental health and depression at the well. It's another round

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Speaker 1: of great reporting by you, Austin. Thank you so much.

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Speaker 1: Austin Carr and really Balance their technology reporter at Bloomberg

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Speaker 1: News joining us on the phone from Los Angeles. Check

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Speaker 1: check him out by the way at Austin car on Twitter.

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Speaker 1: One thing that this year and I hope we talk

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Speaker 1: about and do a lot more about next year, and

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Speaker 1: that is reaching out and really especially when it comes

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Speaker 1: to the financial sector getting into those underserved communities. Our

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Speaker 1: next guest has some thoughts on that. Darren Williams, the

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Speaker 1: CEO of Southern Bank Court, joining us on the phone

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Speaker 1: from Arkansas. Darren, nice to have you here on Bloomberg.

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Speaker 1: First of all, set the set this stage for us.

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Speaker 1: You're talking about c d f ies, community development financial institutions.

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Speaker 1: Remind our audience for those who may not be familiar

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Speaker 1: what they're all about. Sure, First of all, Carole, thank

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Speaker 1: you for having us welcome. CDFIs or Community development finances

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Speaker 1: institutions are UH. They can be banks, can could be

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Speaker 1: credit unions, loan funds, and even venture funds. But we

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Speaker 1: agree to the destination by the Department of Treasury and

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Speaker 1: six of our activity must take place in low and

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Speaker 1: moderate income SENSUS tract communities. It's a public private partnership.

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Speaker 1: We received UM support from the government to ensure that

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Speaker 1: we actually provide access to capital and credit in areas

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Speaker 1: where they don't traditionally slow. If you think about in America,

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Speaker 1: the number of banks and final institutions have traditionally have

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Speaker 1: specifically declined UH in low income, often minority and rural communities,

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Speaker 1: and so we're filling the gap. We're kind of the

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Speaker 1: financial first responders for communities that don't have access to

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Speaker 1: traditional capital and credit. And first of all, I do

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Speaker 1: want to point out and remind everybody that you were

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Speaker 1: part of the Blueberg fifty UH this year, which is

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Speaker 1: really just individuals who stand out from all walks of life,

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Speaker 1: all aspects of our world in terms of the impact

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Speaker 1: that they are you know, making on our world and

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Speaker 1: changing things UM for the better. So having said that,

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Speaker 1: um tell us how this can be a game changer

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Speaker 1: for especially those underserved communities. Well, first of all, care

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Speaker 1: I'm honored to be a part of Bloomberg's fifth the

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Speaker 1: and and that's a recognition that really deserving of the

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Speaker 1: entire cd f I industry, in the minority depositoral industry. UH.

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Speaker 1: During this pandemic, we saw UM these low income, underserved

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Speaker 1: optimonority communities being left behind when access to federal stimilus programs,

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Speaker 1: for example, the paycheck Protection program, which put dollars in

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Speaker 1: hands of businesses to keep their employees on the payroll. Unfortunately,

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Speaker 1: many of these small business and underserved and rural communities

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Speaker 1: don't have access to juditional banks. One because many of

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Speaker 1: those banks have have abandoned those rules and small communities

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Speaker 1: so they're not there. But also because also because you know,

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Speaker 1: typically small and minority businesses UH just don't have that

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Speaker 1: type of relationship with with banks. And so we worked

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Speaker 1: with the administration and with Congress to ensure UH. In

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Speaker 1: the first round of paycheck Protection dollars, there was a

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Speaker 1: car about of money UH thirty billion dollars out of

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Speaker 1: that six D fifty billion that would be set aside

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Speaker 1: for c d f I in the eyes. So we

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Speaker 1: make sure that those dollars get to those small businesses

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Speaker 1: that often don't have access to odditional capital and credit.

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Speaker 1: And so with this latest round of paycheck protection dollars

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Speaker 1: in this latest Stimus faction, proud that the Congress and

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Speaker 1: Administration has seemed that to inject about twelve billion dollars

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Speaker 1: into the c d f I and Minority Depository banking

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Speaker 1: UH and financial services space. So I gotta ask you,

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Speaker 1: we're a trillion dollar economy. I still feel like that's

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Speaker 1: significant amounts of money. But when you see the stimulus

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Speaker 1: packages that come down, when you see the initiatives that

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Speaker 1: come generally speaking from the big financial sector, they're still

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Speaker 1: not doing enough, are they? Well, clearly there's much more

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Speaker 1: that can be done. There's a huge disconnect between what

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Speaker 1: you see on Wall Street and what's happening in Main

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Speaker 1: Street America. Of course, to your most recent segment before

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Speaker 1: I came on, you're talking about the gains in Wall Street.

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Speaker 1: You talk to the folks in Main Street and rule America.

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Speaker 1: They don't feel those games. They don't see that, they

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Speaker 1: don't feel that they're being disproportionately impacted by COVID. Uh.

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Speaker 1: They are the essential workers. They providing and food and

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Speaker 1: feeding the world, but they're not able to work remotely.

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Speaker 1: They're having to put their lives on the line to

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Speaker 1: continue to be essential workers provide that things needed. And

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Speaker 1: so we do need, desperately need access because many of

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Speaker 1: these markets we serve call they were struggling before COVID, right,

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Speaker 1: so under what was hind those communities. Job losses were

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Speaker 1: hind in that community. And so clearly with the with

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Speaker 1: the impact of COVID being disproportionately impacted and felt in

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Speaker 1: those communities, we need additional support to provide really a

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Speaker 1: broad based relief because as we get this pandemic under control,

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Speaker 1: it's important that all the economy come back, uh, that

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Speaker 1: we all you know, build back better. As as as

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Speaker 1: as presidents they like Biden who talks about that must

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Speaker 1: include these underserved rural communities. We cannot forget rural communities

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Speaker 1: in the United States. Well, the only way we're going

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Speaker 1: to close that wealth gap is by making sure that

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Speaker 1: money gets to all segments of our economy. Darren, thank

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Speaker 1: you so much, really appreciated. Good luck and happy New Year.

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Speaker 1: Darren Williams see Southern Bank or part of the Bloomberg

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Speaker 1: fifty and part of a successful effort to add ten

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Speaker 1: billion for community development finance institutions of that second round

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Speaker 1: of paycheck protection program loads. So I think it's safe

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Speaker 1: to say that we are all thinking a lot more

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Speaker 1: about the world of medicine and healthcare generally because we

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Speaker 1: did see some disruption as a result. Obviously a lot

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Speaker 1: of disruption to be quite honest, because of the pandemic,

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Speaker 1: but also in terms of how we get healthcare, uh,

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Speaker 1: and thinking again about some of the inequities and the

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Speaker 1: costs of it because of COVID nineteen. But there's a

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Speaker 1: lot more to think about in deeper plays here. Michael

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Speaker 1: Ray is founder and chief executive officer at r X

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Speaker 1: Saving Solutions. He's on the phone from Overland Park, Kansas,

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Speaker 1: joining us on this Thursday. Michael, nice to have you

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Speaker 1: here on Bloomberg. How are you and how is your world? Yeah?

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Speaker 1: How is your good to be here? Yeah? How's your world?

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Speaker 1: Considering as we continue to watch some of these virus

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Speaker 1: headlines around the country. Yeah, you know, it's been good.

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Speaker 1: I think, um, you know, as as a general statement,

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Speaker 1: we saw quite a bit of growth from a company

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Speaker 1: standpoint this year. UM, as it relates to the vaccine.

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Speaker 1: You know, we're looking at this as as an employer ourselves.

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Speaker 1: We're answering a lot of questions about to our corporate

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Speaker 1: clients what this means, you know, when they can expect

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Speaker 1: a vaccine and uh, and you know how we can

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Speaker 1: help them. Well, what are you hearing on that front?

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Speaker 1: I think that's one of the biggest questions. You know,

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Speaker 1: we kind of lay people are like, well, when do

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Speaker 1: I get the vaccine? And how do I get it?

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Speaker 1: Especially since we know the logistics and the distribution of

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Speaker 1: it is so tricky. Yeah, you know, I think that

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Speaker 1: the Fiser vaccine was especially tricky just with the temperature

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Speaker 1: requirements that that came into play, but the Maderna one

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Speaker 1: was a little more forgiving. I think that, you know,

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Speaker 1: what we're starting to hear is just more frustration. Um.

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Speaker 1: You know, ten million vaccines have been shipped, two millions

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Speaker 1: have been given, so we're starting to hear, you know,

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Speaker 1: more questions about when is that going to hit mainstream? Um,

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Speaker 1: why aren't they being given? Um? And I think that

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Speaker 1: there's there's been a tremendous number of pr opportunities and

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Speaker 1: probably not enough action Um, I expect more pressure to

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Speaker 1: be put on that from you know, corporations and health

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Speaker 1: plans and for that to change very quickly after the

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Speaker 1: new year. All right, So you expect we'll get some

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Speaker 1: more clarity when it comes to get to get out.

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Speaker 1: Hey Having said that, what about clarity when it comes

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Speaker 1: to drug pricing? I feel like one of the great

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Speaker 1: black holes is prescription drug pricing. And you know, I

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Speaker 1: thought the PBMs, the pharmacy benefit managers, were supposed to

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Speaker 1: make it all, you know, better, and I'm not so sure.

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Speaker 1: I think there's many who would argue that it hasn't

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Speaker 1: necessarily played out that way drug pricing. What changes or

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Speaker 1: what are your hope for changes when it comes to

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Speaker 1: this year and maybe under a new administration. Yeah, A

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Speaker 1: good question and something that we're really dialed in on.

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Speaker 1: I think that a lot of focus over the past

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Speaker 1: really four years has been put on things like rebates

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Speaker 1: most favorite nation drug importation, things that have kind of

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Speaker 1: kind of gotten a lot of headlines but fallen flat

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Speaker 1: from a productivity standpoint. To me. The bigger piece that

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Speaker 1: has not gotten headlines last six to twelve months, but

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Speaker 1: it is going to be embraced by the new administration

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Speaker 1: is breaking down data silos, making data accessible to consumers,

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Speaker 1: making it share able um. And really what you're gonna

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Speaker 1: see is that is going to be the key that

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Speaker 1: lets private industry come in and really disrupt the status quo.

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Speaker 1: It's going to allow consumers to be educated, empowered and

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Speaker 1: engage with you know, the decisions that are happening that

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Speaker 1: that ultimately cost them dollars um. And that's going to

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Speaker 1: be the biggest change in the market. You and I

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Speaker 1: really think over the next few years as more and

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Speaker 1: more companies, technology companies find cool new ways to help

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Speaker 1: consumers make better choices. Well, tell me about that, because

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Speaker 1: I do feel like and it's one of the areas

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Speaker 1: that has lagged in our economy in terms of the

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Speaker 1: medical world, the pharmaceutical world really getting kind of with

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Speaker 1: it when it comes to disruption and technology. But I

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Speaker 1: do think the pandemic is going to change some of

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Speaker 1: that as as myself. I'm speaking my book that I've

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Speaker 1: moved on to you know, apps and platforms to check

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Speaker 1: in and do different things when it comes to the

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Speaker 1: medical world. Tell us about what you guys are doing

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Speaker 1: specifically and what are the changes that you're seeing in

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Speaker 1: terms of driving down costs for employees employers as a result. Yeah,

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Speaker 1: great question. I mean, you know, the entire business that

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Speaker 1: we're focused on is helping consumers and employers help plans

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Speaker 1: save money on drugs. What we've seen through this COVID

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Speaker 1: period is an acceleration and adoption of of our platform.

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Speaker 1: We service just about nine million members today and the

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Speaker 1: use of our platform spiked. Um. People want to do

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Speaker 1: more things digitally. They want to have prescription drugs show

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Speaker 1: up at their doorstep and not have to go to

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Speaker 1: a pharmacy where a bunch of crowded, you know, sick people. Maybe. Um. So,

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Speaker 1: I think you'll continue to see adoption and acceleration in

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Speaker 1: healthcare tech as a general statement, and certainly driven by

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Speaker 1: some of the government bills, the transparency bills like nine

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Speaker 1: and C. Those are going to be big market drivers

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Speaker 1: in the medicare market that will expand to the commercial market. Yeah.

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Speaker 1: We'll ultimately see whether the incoming administration kind of stays

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Speaker 1: with some of the policies that the current administration revealed

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Speaker 1: in late November when it comes to drug pricing specifically,

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Speaker 1: which was certainly something they talked about a lot, but

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Speaker 1: only getting to it a month or so ago. UM, Michael,

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Speaker 1: thank you so much. Michael Ray is founder and chief

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Speaker 1: executive officer at r X Saving Solutions, joining us on

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Speaker 1: the phone from Overland Park, Kansas. What a year and

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Speaker 1: typically the end of the year New Year's Eve. It's

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Speaker 1: a big day in a normal year for restaurants, but

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Speaker 1: it's not going to be that way. In fact, restaurants

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Speaker 1: are bracing for a New Year's Eve without much celebration

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Speaker 1: after a year obviously without much celebration. Let's get into

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Speaker 1: it with our at least young reporter ut Bloomberg News.

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Speaker 1: She joins us on the phone from Trenton, New Jersey. UM,

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Speaker 1: at lease, nice to have you here. Tell us a

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Speaker 1: little bit about the story you did with your colleagues

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Speaker 1: about you know, kind of I can't even believe, like

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Speaker 1: what this year has meant for the restaurant community, and

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Speaker 1: the bad news is far from over. New Year's Eve

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Speaker 1: is a huge day for restaurants. UM. To give you

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Speaker 1: an idea of of what it means monetarily, there's an

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Speaker 1: olive garden in Times Square where people are willing to

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Speaker 1: pay four hundred dollars for the New Year's Eve celebration. UM.

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Speaker 1: And uh. Last year a lot of chains reported uh

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Speaker 1: that versus a typical night they did Outback State Hostedent

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Speaker 1: More Business, Olive Garden, did Applebe's eighteen percent more. It's

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Speaker 1: it's huge, um One South Orange restaurateur, South Orange, New

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Speaker 1: Jersey restaurateur told me on the typical New Year's Eve

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Speaker 1: they could make twenty dollars um. This year at Papillon,

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Speaker 1: she said, if they make three thousand dollars, she'll feel lucky. Yeah.

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Speaker 1: I mean the whole idea of like take out and

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Speaker 1: ordering out, you know, I guess it's helped restaurants a

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Speaker 1: little bit, but it's it's no comparison on a night

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Speaker 1: like tonight, where typically the prices are tacked up big time,

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Speaker 1: and we as consumers don't have a problem about kind

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Speaker 1: of overspending because we're celebrating a holiday. That's right. Um.

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Speaker 1: Carlo Momo, who's um part of the Terra Momo Group family,

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Speaker 1: which operates for properties in and around the Ivy League

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Speaker 1: town of Princeton, New Jersey, told me that it's fun

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Speaker 1: for the staff. New Year's Eve is fun that the

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Speaker 1: folks who come after seven or so tend to stay.

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Speaker 1: Everybody's happy, everybody has somebody something to look forward to,

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Speaker 1: their freely spending and their generous to the staff, and

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Speaker 1: that's simply not going to happen this year. Yeah exactly, So,

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Speaker 1: I mean, and there's also curfews right in a lot

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Speaker 1: of towns and cities that even for someone who might

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Speaker 1: try and do something, I guess even outside um, there

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Speaker 1: are rules that are going to restrict what they can do.

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Speaker 1: That's right in in New Jersey statewide. UM, restaurant indoor

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Speaker 1: dining must end at ten o'clock, which then runs into

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Speaker 1: well New Year's Eve. How do you do a countdown

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Speaker 1: at ten o'clock? So some restaurateurs are sending people off

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Speaker 1: with wine bottles or sangria at fifteen percent off so

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Speaker 1: that they can continue the party at home. Um. There.

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Speaker 1: So there are some bright spots here. The Tara Momo Group,

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Speaker 1: for the first time this year, is offering a one

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Speaker 1: fifty dollar advanced order in advanced box that feeds for people. Um.

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Speaker 1: And this is the first time they've done that. It's

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Speaker 1: got for what what's got shrimps, ribs, um. So there's

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Speaker 1: there's room for innovation to yeah, right exactly, and we diply,

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Speaker 1: you know, it's been pretty impressive at least when you

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Speaker 1: think about some of those restaurants. I even know from

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Speaker 1: those that we order online at home, restaurants that never

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Speaker 1: did take out, that all of a sudden they were,

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Speaker 1: you know, kind of some of those higher end restaurants,

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Speaker 1: and people were because they were stuck home, they couldn't

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Speaker 1: go out. We're more inclined, uh to splurge. Um. When

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Speaker 1: all is said and done, what's the restaurant industry going

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Speaker 1: to look like post pandemic? I asked some of the

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Speaker 1: restaurateurs whether they can hang on, and they said they

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Speaker 1: have high hopes for the vaccine UM, and they think

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Speaker 1: that they can get through the next three or four

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Speaker 1: months around the time when the general population will start

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Speaker 1: getting vaccinations. UM. Some told me that they are, uh,

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Speaker 1: they're doing drink specials. UM. They're they're publicizing exactly how

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Speaker 1: they're sanitizing anything they can do. UM. But they say

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Speaker 1: they're a little bit worried about this um, this newberry

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Speaker 1: catchy strain that seems to be in the US from

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Speaker 1: Great Britain. UM. So uh, they're they're also hopeful for

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Speaker 1: help from Congress. I have to say, there's a great

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Speaker 1: chart in your story and obviously forgive me for everyone

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Speaker 1: who's listening on radio, but I'll just kind of walk

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Speaker 1: it through and it's quiet night. The survey a Pole

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Speaker 1: Morning Consult Pole conducted December four through the six and

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Speaker 1: most Americans have low key plans for this New Year's Eve,

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Speaker 1: and at least you lay it out for us. Are

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Speaker 1: going to cook dinner at home, twenty nine percent, streaming

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Speaker 1: a movie, consuming liquor, small family gathering nineteen eighteen percent

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Speaker 1: consuming wine, and seventeen percent are going to bake. I

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00:23:38,840 --> 00:23:41,479
Speaker 1: think at least what I found kind of comical if

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00:23:41,520 --> 00:23:43,040
Speaker 1: you can do that in kind of a black year

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00:23:43,680 --> 00:23:46,359
Speaker 1: or dark year UM, is that there were two categories,

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Speaker 1: consume liquor and consume wine. I love that that was

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00:23:48,600 --> 00:23:53,000
Speaker 1: breaking broken down into two categories. It's just a reminder.

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Speaker 1: I mean, that has been one of the bright spots

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00:23:54,600 --> 00:23:58,359
Speaker 1: I feel like when it comes to UM kind of

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00:23:58,480 --> 00:24:01,320
Speaker 1: the dining out or drinking out, you know, people have

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00:24:01,440 --> 00:24:04,840
Speaker 1: been just kind of consuming that big time. Yes, And

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00:24:04,960 --> 00:24:07,280
Speaker 1: what that chart doesn't show but is down in the

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Speaker 1: text of the story, just seven percent of Americans intend

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Speaker 1: to go to a restaurant for New York. So think

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00:24:14,800 --> 00:24:18,080
Speaker 1: of that seven percent who can't stick around all night,

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Speaker 1: who can't spend the way they wanted to spend um,

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Speaker 1: and the staff that's not going to be compensated that

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Speaker 1: way and have a good time, right And as somebody

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00:24:26,480 --> 00:24:28,440
Speaker 1: who reminded me who had been a waitress for a

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00:24:28,480 --> 00:24:31,080
Speaker 1: long time, they're like, it's these kinds of nights where

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00:24:31,119 --> 00:24:32,760
Speaker 1: people make a lot of money. It's a way for

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00:24:32,840 --> 00:24:35,520
Speaker 1: them to bank some money, you know, sock it away

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Speaker 1: for those those days when it's a lot quieter, and

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Speaker 1: it's that's not what's happening this year. Alicia Young, great reporting.

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Speaker 1: Thank you Alicia Young. She's reporter at Bloomberg News with

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Speaker 1: us on the phone in New Jersey. Thanks for listening

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00:24:48,720 --> 00:24:52,000
Speaker 1: to Bloomberg Markets podcast. You can subscribe and listen to

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00:24:52,160 --> 00:24:55,920
Speaker 1: interviews at Apple Podcasts or whatever a podcast platform you prefer.

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00:24:56,200 --> 00:25:00,119
Speaker 1: I'm Monnie Quinn. I'm on Twitter at Annie quint on

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00:25:00,200 --> 00:25:03,080
Speaker 1: Twitter at pt Sweeney. Before the podcast, you can always

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Speaker 1: catch us worldwide at Bloomberg Radio m H