WEBVTT - Efforts to Flatten the Coronavirus Curve 0:00:00.440 --> 0:00:02.960 This is Bloomberg Business Week. I'm Carol Masser and I'm 0:00:03.040 --> 0:00:05.480 Jason Kelly. We're here every day bringing you the latest 0:00:05.519 --> 0:00:09.840 news from the world's of business and finance, plus technology, politics, economics, 0:00:09.840 --> 0:00:13.480 all harnessing the power of Bloomberg Business Week reporters and editors, 0:00:13.480 --> 0:00:16.639 not to mention our hundred journalists and analysts more than 0:00:16.680 --> 0:00:19.280 a hundred and twenty countries. You can download Bloomberg Business 0:00:19.320 --> 0:00:22.200 Week on iTunes, SoundCloud, or Bloomberg dot Com. You can 0:00:22.200 --> 0:00:24.520 also listen to our radio show weekdays at two pm 0:00:24.520 --> 0:00:27.760 Eastern only on Bloomberg Radio. So, as we mentioned at 0:00:27.760 --> 0:00:29.920 the top of our broadcast, certainly one of the themes 0:00:29.960 --> 0:00:32.480 that we are seeing is what's going on with food 0:00:32.520 --> 0:00:36.360 and restaurants. They are especially hard hit. Chris pop us 0:00:36.440 --> 0:00:40.279 as chairman, president and CEO of the Chef's Warehouse. It's 0:00:40.320 --> 0:00:43.960 a distributor of specialty food products. They sell to restaurants, hotels, 0:00:44.000 --> 0:00:47.720 cruise lines, casinos, food specialty stores and more so they 0:00:47.720 --> 0:00:50.959 are on the front line of certainly seeing the impact 0:00:51.000 --> 0:00:53.519 of the coronavirus. Who joins us right now on the 0:00:53.560 --> 0:00:57.320 phone from Ridgefield, Connecticut. Chris, Nice to have you here. Um. 0:00:57.400 --> 0:00:59.760 First of all, tell us a little bit about your world. 0:00:59.800 --> 0:01:01.960 We you and your family are safe, tell us what 0:01:02.320 --> 0:01:08.319 about your employees, how everyone's doing? Thank you. Obviously this 0:01:08.400 --> 0:01:10.560 was like, you know, a nuclear bomb for the whole 0:01:10.600 --> 0:01:16.520 hospitality industry, and uh you know, it's obviously not not 0:01:16.640 --> 0:01:18.720 easy for all our customers. You know, we saw a 0:01:18.720 --> 0:01:21.280 little a thirty five thousand of the top chefs in 0:01:21.319 --> 0:01:26.240 the country and most of these restaurants today are closed. So, uh, 0:01:26.280 --> 0:01:29.720 you know, we we started meeting. I have an unbelievable staff, 0:01:29.760 --> 0:01:33.080 and we got together and started thinking, so, you know, 0:01:33.600 --> 0:01:37.000 what do we do? We know the retail uh supply 0:01:37.120 --> 0:01:40.360 chains are really being challenged right now. We're getting thousands 0:01:40.360 --> 0:01:43.320 of phone calls from people saying how do I buy 0:01:43.360 --> 0:01:45.560 from you? People? We know you have a thousand trucks 0:01:45.640 --> 0:01:49.760 and warehouse is full of food. So we've quickly pivoted. 0:01:50.720 --> 0:01:53.120 We've got our food safety teams out there and say, 0:01:53.200 --> 0:01:56.240 how do we keep our employees safe? Um, how do 0:01:56.280 --> 0:01:58.360 we get some trucks on the road. How do we 0:01:58.400 --> 0:02:02.000 get food to people they're gonna want it delivered? And 0:02:02.480 --> 0:02:06.920 we really quickly transformed ourselves right now into a supplying 0:02:06.960 --> 0:02:11.200 retailers and going right to the consumer through our websites, 0:02:11.480 --> 0:02:16.320 whether it be our sites for Allen Brothers UH, our 0:02:16.480 --> 0:02:19.919 our Ellen Brothers dot com, which cuts the most uh 0:02:20.080 --> 0:02:22.920 the best steaks for the most famous steakhouses around the country, 0:02:23.080 --> 0:02:26.079 to our chef Warehouse dot com. We've added a new 0:02:26.160 --> 0:02:30.120 site says shop at Home, so UH, We're keep adding 0:02:30.120 --> 0:02:32.880 more and more items. UM. It's impossible to put all 0:02:32.960 --> 0:02:36.760 thirty five thousand items uh in one week available, So 0:02:36.880 --> 0:02:39.720 what we decided was to tone it down, you know, 0:02:39.800 --> 0:02:42.160 not to offer two hundred different types of olive oil. 0:02:42.560 --> 0:02:45.920 Get it down to a really good selection. UM. You 0:02:45.919 --> 0:02:49.840 know the team that's at chef because we are pressed 0:02:49.840 --> 0:02:51.679 with supplying the best chefs in the world that we're 0:02:51.720 --> 0:02:56.239 food experts. So I think the consumer could feel comfortable 0:02:56.360 --> 0:03:00.760 that maybe they've never heard of us before, but our 0:03:00.760 --> 0:03:03.840 reputation of a thirty five years supplying the best chefs 0:03:03.840 --> 0:03:05.919 in the world, they could feel comfortable that they're buying 0:03:06.000 --> 0:03:11.679 from someone who understands food safety, understands quality. And we've 0:03:11.760 --> 0:03:15.200 quickly put up new sites that they can come online 0:03:15.360 --> 0:03:18.720 and they can either get it through ups UM. People 0:03:18.720 --> 0:03:21.840 are loading up their freezers right now with steaks and 0:03:21.960 --> 0:03:25.080 lamb chops and really great, great food that they would 0:03:25.080 --> 0:03:28.160 normally in the steakhouse. And they're also starting to order 0:03:29.120 --> 0:03:32.920 to their homes. Um an array of I think we 0:03:32.960 --> 0:03:35.160 have a few hundred items up already, and every day 0:03:35.160 --> 0:03:38.440 we'll keep adding and we'll keep adding new cities and 0:03:38.480 --> 0:03:41.520 neighborhoods that the trucks will be rolling. Uh they can 0:03:41.560 --> 0:03:45.040 get online, they can pay with a credit card, and uh, 0:03:45.520 --> 0:03:47.520 we're trying to do it within you know, one to 0:03:47.680 --> 0:03:50.200 three days, we will be at their door with the 0:03:50.240 --> 0:03:54.560 greatest ingredients you can set you could find. Well, it's 0:03:54.600 --> 0:03:57.040 an amazing pivot, as they say, I mean, this is 0:03:57.080 --> 0:03:59.720 really impressive and we appreciate you giving us how the 0:03:59.720 --> 0:04:01.640 detail else there I do want to ask you, Chris, 0:04:01.640 --> 0:04:04.320 you know, given that you do work with some of 0:04:04.360 --> 0:04:06.720 the best known chefs in the world. We're talking about 0:04:06.760 --> 0:04:11.240 Thomas Keller, Dan Barber, Nancy Silverton, Daniel Blue, who will 0:04:11.280 --> 0:04:13.080 be a guest on this program next week. I should 0:04:13.120 --> 0:04:16.040 point out jose Andre's obviously he has been very vocal 0:04:16.080 --> 0:04:19.360 about this. As you talk to those folks, you know them, Well, 0:04:19.600 --> 0:04:22.800 what are they saying about the future of restaurants the 0:04:22.800 --> 0:04:26.640 short term in mid term future? Yeah, well, short term. 0:04:26.680 --> 0:04:30.240 I think you know everybody is still spinning, very upset 0:04:30.279 --> 0:04:33.320 with the insurance companies. You know this is uh, this 0:04:33.440 --> 0:04:37.240 we should you know, business interruption. Every restaurant should get 0:04:37.279 --> 0:04:40.800 business interruption. Um. If this isn't business interruption, I don't 0:04:40.800 --> 0:04:44.400 know what is. So um they're pushing that. I know 0:04:44.520 --> 0:04:46.800 they're on the phone with the White House. So h. 0:04:47.080 --> 0:04:49.600 I spoke to Thomas, I spoke to Danielle the other day, 0:04:49.720 --> 0:04:52.560 Jean George, and you know they're they're sitting there and 0:04:52.560 --> 0:04:56.000 they're you know, they're pushing um and the sun will 0:04:56.000 --> 0:04:59.359 come out and UM, that's why, chef. You know, we 0:04:59.400 --> 0:05:02.920 are doing everything we can. You know, thirty fifth anniversary 0:05:02.960 --> 0:05:05.159 didn't plan this would be the way we celebrated it. 0:05:05.240 --> 0:05:07.880 But you know we're going to be here for the 0:05:07.880 --> 0:05:11.320 next thirty five years and they depend on us. When 0:05:11.320 --> 0:05:14.520 the sun comes out, you know, they'll start slowly and 0:05:14.600 --> 0:05:17.640 as it builds and people feel more comfortable going out. 0:05:17.720 --> 0:05:20.679 We are social animals. I've been doing this for thirty 0:05:20.800 --> 0:05:24.200 five years, and UM, I watched people love to go 0:05:24.240 --> 0:05:27.240 to restaurants and they love to meet and have family 0:05:27.360 --> 0:05:31.560 gatherings and bar mitzvahs and christenings and weddings and do 0:05:31.600 --> 0:05:34.720 you name it so it will come back, Chris, I 0:05:34.760 --> 0:05:36.799 do wonder about when we get on the other side 0:05:36.800 --> 0:05:39.200 of this. That's certainly the restaurant industry. I mean I 0:05:39.240 --> 0:05:41.919 saw one number, was it like fifteen point six million 0:05:42.320 --> 0:05:46.279 workers in the US restaurant industry. That is huge. But 0:05:46.360 --> 0:05:49.640 I do wonder about the safety nets, um, that are 0:05:49.720 --> 0:05:52.560 there for those kinds of workers. What changes on the 0:05:52.600 --> 0:05:55.960 other side, what can realistically change? I mean the restaurant business, 0:05:56.120 --> 0:06:00.520 it's a hard one. It's uh, it's always been a business. 0:06:00.600 --> 0:06:04.760 But you know, people are resilient. Americans are resilient. Um. 0:06:04.800 --> 0:06:08.560 I've been through even I've been through the financial crashes, 0:06:08.720 --> 0:06:13.000 and UM, I'm always amazed how people come back to restaurants, 0:06:13.040 --> 0:06:14.640 you know, as soon as they're feeling a little better 0:06:14.640 --> 0:06:18.839 about themselves. Uh. But what but what financially can change 0:06:18.880 --> 0:06:20.760 to help some of those workers. I mean what in 0:06:20.800 --> 0:06:26.000 the business, um, or the financial structure of a restaurant industry, 0:06:26.080 --> 0:06:28.279 or whether it's insurance, like you said, what needs to 0:06:28.360 --> 0:06:31.640 change so that those workers. I feel like this crisis 0:06:31.960 --> 0:06:34.359 is showing us really some of the weak spots in 0:06:34.360 --> 0:06:37.520 our society is certainly within our workers society, So what 0:06:37.640 --> 0:06:40.480 needs to change? Sure, well, you can see again most 0:06:40.520 --> 0:06:42.640 of the restaurants have closed down to most of their 0:06:42.680 --> 0:06:47.479 employees are unemployment, so they are receiving money. And they're 0:06:47.520 --> 0:06:50.800 talking about a package where especially small businesses can get 0:06:50.839 --> 0:06:54.320 up to I think three times uh their their payroll 0:06:54.400 --> 0:06:58.159 to to keep their employees uh employed. So I think 0:06:58.160 --> 0:07:01.600 the government absolutely has to do something as long as 0:07:01.640 --> 0:07:04.440 well as with the insurance companies. But when we went 0:07:04.480 --> 0:07:07.760 through nine eleven, it was amazing how generous society is. 0:07:08.320 --> 0:07:10.800 And that's what we're doing right now in this new business. 0:07:11.160 --> 0:07:14.360 You know, we give over seven figures of money away 0:07:14.400 --> 0:07:18.960 to charities every year. The hospitality industry is so charitable um. 0:07:19.200 --> 0:07:22.120 And I think that people are going to rally UM. 0:07:22.160 --> 0:07:23.920 I see a lot of restaurants would go fund me 0:07:24.000 --> 0:07:28.360 pages for their employees. We're gonna be donating a portion 0:07:28.400 --> 0:07:30.640 of our money. We want to double that seven the 0:07:31.200 --> 0:07:33.960 amount that we were able to give last year through 0:07:34.320 --> 0:07:37.480 new initiatives to raise money to take care of especially 0:07:37.520 --> 0:07:39.280 all the people on the front end of this sort 0:07:39.280 --> 0:07:42.440 are most you know that hurts the most. I think 0:07:42.480 --> 0:07:47.280 you're gonna have a tremendous rally of generosity and fundraisers, 0:07:47.440 --> 0:07:49.480 and we got to put these people back to work 0:07:49.600 --> 0:07:52.480 and America needs its restaurants. All right, We're gonna leave 0:07:52.520 --> 0:07:54.720 it there. Thank you so much. We really appreciate your time. 0:07:54.800 --> 0:07:57.800 We know it's incredibly busy, especially as you launched this 0:07:58.120 --> 0:08:01.880 entirely new business in a lot of ways. Chris Poppas 0:08:01.960 --> 0:08:04.240 is the chairman and CEO of The Chef's Warehouse, joining 0:08:04.280 --> 0:08:08.520 us on the phone from Ridgefield, Connecticut. Carol, Uh, so interesting. 0:08:08.560 --> 0:08:10.720 I mean this is at the crux of what we've 0:08:10.720 --> 0:08:14.200 been talking about this industry, you know, truly one of 0:08:14.200 --> 0:08:18.440 the most affected by this massive, massive crisis. Yeah, exactly. 0:08:18.520 --> 0:08:20.760 So good to hear from him and get some input 0:08:20.840 --> 0:08:23.120 on what is happening and what can be done. This 0:08:23.440 --> 0:08:27.120 is Bloomberg Business Week with Carol Masser and Jason Kelly 0:08:27.280 --> 0:08:31.119 on Bloomberg Radio. Well around this time every day, Carol, 0:08:31.200 --> 0:08:33.959 we've been trying to go to a medical expert to 0:08:34.080 --> 0:08:37.240 really help keep us honest about where we are, what 0:08:37.320 --> 0:08:40.720 we should be doing, just as human beings, to try 0:08:40.840 --> 0:08:44.319 and get through this. Uh, get smart about the medical 0:08:44.360 --> 0:08:46.920 aspects but also the social aspects of this. Uh. No 0:08:47.000 --> 0:08:49.520 better person to talk about than the dr Patrice Harris. 0:08:49.559 --> 0:08:53.240 She's the president of the American Medal Medical Association. Excuse me, 0:08:53.320 --> 0:08:56.880 joining us on the phone from Atlanta. Dr Harris, Great 0:08:56.920 --> 0:08:59.679 to have you with us. Well, thank you, it's good 0:08:59.720 --> 0:09:02.400 to be with you. All right. So here we are, 0:09:02.520 --> 0:09:05.600 Carol and I working from our respective homes. You know, 0:09:05.640 --> 0:09:08.679 we're working for a company like many that basically is 0:09:08.720 --> 0:09:12.520 saying don't come into the office. Social distancing. Help us 0:09:12.600 --> 0:09:16.160 understand what we know so far. I know it hasn't 0:09:16.160 --> 0:09:18.560 been a super long time. Uh, it's been a couple 0:09:18.600 --> 0:09:20.120 of weeks for a lot of us here in the 0:09:20.120 --> 0:09:23.640 New York area. What are we learning about whether we 0:09:23.760 --> 0:09:28.120 are in fact going to flatten this curve? So let 0:09:28.160 --> 0:09:34.680 me start with the endpoint. Social distancing works, physical distancing works. Certainly, 0:09:34.760 --> 0:09:36.960 we all hear about what's going on in New York 0:09:36.960 --> 0:09:39.959 as I sit here in Atlanta, our I see you 0:09:40.120 --> 0:09:44.000 beds are at or near full capacity, and we see 0:09:44.480 --> 0:09:47.480 the cases spike in New Orleans, and so it is 0:09:47.559 --> 0:09:51.680 important for everyone to know. People may not appreciate that 0:09:52.080 --> 0:09:56.800 individual accents lead to collective impact. And if everyone commits 0:09:57.440 --> 0:09:59.680 to staying at home, of course, you know, going out 0:09:59.760 --> 0:10:04.560 for for groceries or or medical needs medicines. But if 0:10:04.600 --> 0:10:08.360 everyone stays at home when they can, they are not 0:10:08.480 --> 0:10:12.480 only helping themselves, but they are helping the medical community. 0:10:13.960 --> 0:10:18.080 So when you hear the presidents say let's let's talk 0:10:18.120 --> 0:10:20.960 about creating zones around the country, some of them not 0:10:21.000 --> 0:10:26.199 as hard hit um and thinking about reopening the economy, 0:10:26.400 --> 0:10:29.319 what do you think? What do you say? Well, here's 0:10:29.320 --> 0:10:32.000 what we are all going to have to commit to. 0:10:32.320 --> 0:10:34.360 We are going to have to commit to being led 0:10:34.400 --> 0:10:37.360 by the science and the evidence and the data. There's 0:10:37.360 --> 0:10:41.199 no question we all want things to open back up, 0:10:41.240 --> 0:10:46.520 but that has to be defined and determined by the data. 0:10:46.720 --> 0:10:50.120 And as I heard Dr Fauci say, we just don't 0:10:50.200 --> 0:10:53.880 have the data to make those decisions right now, and 0:10:53.880 --> 0:10:57.319 and and and certainly we want to try to guard 0:10:57.360 --> 0:11:02.120 against a false choice here umbok health forces the economy. 0:11:02.760 --> 0:11:05.360 You know, it's it's we're either going to choose to 0:11:05.480 --> 0:11:09.440 follow the science and the evidence and save lives or 0:11:09.480 --> 0:11:12.680 ignore the science and evidence and lives will be lost. 0:11:13.800 --> 0:11:16.120 So Dr Harris, let me ask you this because part 0:11:16.160 --> 0:11:19.520 of what you're saying, which I certainly believe in, and 0:11:19.559 --> 0:11:21.520 I know Carol does too, and many of our listeners do. 0:11:21.760 --> 0:11:23.840 Is this notion of the most important thing you can do, 0:11:23.880 --> 0:11:28.760 this proactive thing, is to stay home. And yet I 0:11:28.800 --> 0:11:30.800 think a lot of us feel like, but are there 0:11:30.800 --> 0:11:33.800 other things we can be doing even from the safety 0:11:34.240 --> 0:11:37.560 uh and hopeful, hopefully for most people sort of comfort 0:11:37.600 --> 0:11:40.559 of their homes, to somehow help out. Are there places 0:11:40.600 --> 0:11:44.080 we should be supporting financially? Are there things that we 0:11:44.160 --> 0:11:48.839 can be doing from a distance to help this along? Well? 0:11:48.880 --> 0:11:54.280 Certainly each individual locale will be different. But people are 0:11:54.320 --> 0:11:56.760 talking about while we are at home, if you can, 0:11:57.640 --> 0:11:59.880 and I want to say not everybody will be able 0:12:00.000 --> 0:12:03.160 to another conversation. Not The subject of today is we 0:12:03.240 --> 0:12:06.760 have to appreciate that there's a diversity of needs out there. 0:12:06.840 --> 0:12:09.120 For instance, I'll just give you a quick example and 0:12:09.160 --> 0:12:11.679 get back on topic. But we talk about handwashing, and 0:12:11.720 --> 0:12:14.520 we know folks who are homeless, uh, you know, don't 0:12:14.559 --> 0:12:16.920 have hot running water. There's a group in Atlanta that 0:12:17.120 --> 0:12:19.800 filled up some water. Takes is going out to the 0:12:19.840 --> 0:12:22.640 homeless in Atlanta to do that. So we have to 0:12:22.679 --> 0:12:25.080 appreciate that. But the other things that we can do 0:12:25.160 --> 0:12:28.679 is again, check on a neighbor. I've heard folks talk 0:12:28.720 --> 0:12:32.120 about buying a gift card from a restaurant. Certainly, Um, 0:12:32.160 --> 0:12:34.120 they can get the money now and then can be 0:12:34.200 --> 0:12:38.240 used later once we get through this piece. Uh, make 0:12:38.280 --> 0:12:40.960 sure you stay connected. You know you could if you're 0:12:41.000 --> 0:12:44.640 healthy and and no risk factors. And maybe you have 0:12:44.720 --> 0:12:48.400 a neighbor or a family member who um is elderly 0:12:48.559 --> 0:12:51.200 or is in a risk factor. Maybe a grocery shop 0:12:51.240 --> 0:12:54.640 when you grocery shop for yourself and your family grocery 0:12:54.640 --> 0:12:57.360 shop for them. So those are the other things that 0:12:57.400 --> 0:12:59.800 we can do. I do want to mention a headline 0:12:59.800 --> 0:13:02.880 crawl seeing the Bloomberg terminal autopy. US regulator is exploring 0:13:02.880 --> 0:13:05.840 whether to throw a lifeline to mortgage services that are 0:13:05.880 --> 0:13:09.760 stressed by the coronavirus pandemic, thinking about tapping a program 0:13:09.760 --> 0:13:13.600 meant to address natural disaster. So watching that we're talking 0:13:13.600 --> 0:13:16.760 about Jenny May and they're weighing that disaster aid relief 0:13:16.800 --> 0:13:19.760 for virus hit mortgage services and Jason, this speaks to 0:13:19.840 --> 0:13:23.040 that very big story that people aren't paying mortgages or 0:13:23.080 --> 0:13:26.120 don't have the ability. You know, there is a trickle 0:13:26.160 --> 0:13:29.320 down effect. Uh, and then it becomes this health crisis 0:13:29.360 --> 0:13:31.840 becomes more of a financial crisis. We are talking with 0:13:31.920 --> 0:13:35.320 Dr Patrice Harris, President of the American Medical Association, on 0:13:35.360 --> 0:13:39.200 the phone from Atlanta. Dr Harris, um, your members, You 0:13:39.200 --> 0:13:42.720 guys represent the decisians across the countries, but you also, 0:13:43.200 --> 0:13:46.880 you know, are tapped into, uh, the drugmakers, the healthcare 0:13:46.960 --> 0:13:50.480 industry in a big way. Are we getting to a 0:13:50.480 --> 0:13:53.800 point where our system is going to be overstressed and 0:13:53.920 --> 0:13:58.559 doctors will be making some critical decisions about who gets 0:13:58.559 --> 0:14:02.800 what equipment because we just have enough. Well, certainly that's 0:14:02.840 --> 0:14:05.800 one of the reasons we want to be proactive about 0:14:05.880 --> 0:14:08.200 the number of ventilators, which is why the American Medical 0:14:08.240 --> 0:14:11.360 Association has called on the President to use all levels 0:14:11.400 --> 0:14:15.800 of government to be proactive and particularly the Defense Production 0:14:15.920 --> 0:14:19.360 Act to make sure we have the number of ventilators. 0:14:19.480 --> 0:14:22.800 I do know that there has been a conversation around 0:14:22.840 --> 0:14:26.760 making choices. I can tell you that at the American 0:14:26.800 --> 0:14:29.400 Medical Association, we have a Code of Medical Ethics that 0:14:30.200 --> 0:14:32.840 talks and speaks to what to do when there are 0:14:32.880 --> 0:14:35.960 scarce resources, and that information is available on our websites. 0:14:36.240 --> 0:14:40.480 But hospitals and health systems are having these conversations ahead 0:14:40.480 --> 0:14:44.000 of time and developing policies, and that's as it should be. 0:14:44.120 --> 0:14:46.880 Should the President though, impose the Defense Production Act. We 0:14:46.960 --> 0:14:49.120 just did a story about General Motors, and you know 0:14:49.160 --> 0:14:51.760 there are companies out there in the private sector who 0:14:51.800 --> 0:14:55.160 are ready to go and ramp up to make ventilators 0:14:55.160 --> 0:14:57.360 and so on. And yet there's a lot of confusion 0:14:57.360 --> 0:15:00.560 because the President hasn't done that. What conversation aation have 0:15:00.640 --> 0:15:03.080 you had with him or your or the A M 0:15:03.080 --> 0:15:05.360 A to do this And do you think it would 0:15:05.360 --> 0:15:07.760 be the right thing to do at this point? Yes, 0:15:07.840 --> 0:15:10.600 we know it's my understanding that the President is signed 0:15:10.600 --> 0:15:15.720 the act, but we have UH communicated in writing UM 0:15:15.880 --> 0:15:22.440 and UH in other media forms to please invoke, activate 0:15:22.480 --> 0:15:26.040 whatever the appropriate term is the Defense Production Act. And also, 0:15:26.560 --> 0:15:29.280 by the way, we we have asked for a national 0:15:29.400 --> 0:15:32.400 tracking system and right now, as you are aware, sort 0:15:32.400 --> 0:15:35.680 of ad hoc, but it would be I think much 0:15:35.720 --> 0:15:39.560 more productive to UM you know, have a database or 0:15:39.600 --> 0:15:42.160 tracking system where we know who has what, who needs what, 0:15:42.640 --> 0:15:45.360 and then we can prioritize that. We hope that the 0:15:45.400 --> 0:15:50.200 President activates that and also develops a tracking system. Dr 0:15:50.240 --> 0:15:52.640 Harris just thirty seconds left. But I have to ask you, 0:15:52.640 --> 0:15:55.840 you're a psychiatrist, what can we do from a mental 0:15:55.840 --> 0:15:59.880 health perspective for ourselves right now. Well, just a couple 0:15:59.880 --> 0:16:01.960 of think First of all, it's important conversation to have 0:16:02.200 --> 0:16:06.320 because a poll released by the American Psychiatric Associations just 0:16:06.400 --> 0:16:10.640 the other day revealed that that folks were experiencing anxiety. 0:16:10.760 --> 0:16:14.160 And so I would encourage everyone to practice self care, 0:16:14.800 --> 0:16:17.440 try to get as much sleep as they can, get 0:16:17.520 --> 0:16:20.240 some activity, even if it's walking around your neighborhood and 0:16:20.280 --> 0:16:23.040 putting on your favorite record today at and sometimes you 0:16:23.080 --> 0:16:26.040 have to you have to, uh stay informed, but sometimes 0:16:26.080 --> 0:16:27.440 you have to take a break from the news and 0:16:27.520 --> 0:16:30.720 social media. All right, Well, that's very very good advice. 0:16:30.760 --> 0:16:32.480 We really appreciate your time. Hope you'll come back and 0:16:32.560 --> 0:16:35.120 join us. Dr Patrice Harris, president of the American Medal 0:16:35.280 --> 0:16:39.960 Medical Association, joining us on the phone from Atlanta. This 0:16:40.280 --> 0:16:43.800 is Bloomberg Business Week with Carol Masser and Jason Kelly 0:16:44.160 --> 0:16:47.840 on Bloomberg Radio. Bloomberg Business Week Food editor k Crater 0:16:48.040 --> 0:16:51.200 writing this week about how the golden age of restaurants 0:16:51.240 --> 0:16:54.040 maybe over because of the coronavirus. Earlier, we talked with 0:16:54.120 --> 0:16:56.880 the CEO of the Chef's Warehouse and really got a 0:16:57.360 --> 0:17:02.760 um firsthand indication of how stressed this industry is. Kate 0:17:02.840 --> 0:17:06.000 joins us now along with Bloomberg business Week editor Joel Webber, 0:17:06.040 --> 0:17:08.879 both of them on the phone. Joel, Uh, you know, 0:17:08.920 --> 0:17:10.520 we've been talking with Kate a lot. I mean, the 0:17:10.560 --> 0:17:13.760 restaurant industry, the hospitality industry, they've really been hit hard. 0:17:14.640 --> 0:17:18.720 I mean understatement, I think really and and I think 0:17:18.760 --> 0:17:22.200 as um Kate and Richard vines right in this story. 0:17:22.240 --> 0:17:24.680 You know, like keep in mind the context for restaurants. 0:17:24.760 --> 0:17:28.919 The past few decades have just been just literally this 0:17:29.000 --> 0:17:32.480 golden age where we've just seen restaurants coming to their 0:17:32.520 --> 0:17:38.760 own chefs have become effectively celebrities. Um. And here comes 0:17:38.880 --> 0:17:42.440 a coronavirus that suddenly means that you're not eating in restaurants. 0:17:42.480 --> 0:17:45.200 And this is not just a New York or London phenomenon. 0:17:45.240 --> 0:17:47.560 It's like almost a global one at this point. And 0:17:48.080 --> 0:17:52.440 even pivots to delivery or take out have been hamstrung. 0:17:52.600 --> 0:17:56.399 So it's really this existential moment for restaurants and and 0:17:56.520 --> 0:17:59.320 about how they're going to actually even make it through this. 0:17:59.840 --> 0:18:01.879 And Kate, what do you what is the future according 0:18:01.920 --> 0:18:03.399 to the people that you've talked to, what is the 0:18:03.440 --> 0:18:06.280 future of restaurants start to look like? Now? I mean, 0:18:06.400 --> 0:18:09.200 the future is so uncertain. It's really, as you say, 0:18:09.200 --> 0:18:12.639 it's just heartbreaking. And it seemed like there was restaurants 0:18:12.680 --> 0:18:15.520 are always there for you, and it seriously has been 0:18:15.520 --> 0:18:18.239 the Golden Age for maybe three decades now, building and 0:18:18.280 --> 0:18:22.080 building and unstoppable and suddenly stopped and its tracks. But 0:18:22.600 --> 0:18:26.840 there's definitely a feeling. Certainly restaurants are trying pativo to 0:18:26.920 --> 0:18:30.080 take out, some with more success than others. But there's 0:18:30.119 --> 0:18:32.320 so many safty concerns now, a lot of stuff that 0:18:32.400 --> 0:18:36.080 I got to talk to Jonathan Waxman, who loved Master 0:18:36.240 --> 0:18:39.960 from Barbudo, and he had this fantastic take out service 0:18:40.000 --> 0:18:42.840 going for maybe like a week, two weeks, and he 0:18:42.920 --> 0:18:46.640 shut it down. He was like, it's not safe, and 0:18:46.720 --> 0:18:50.200 so Kate, you know, it's so interesting because you know, 0:18:50.240 --> 0:18:52.560 we're talking to Chris Poppas earlier, who I know you've 0:18:52.600 --> 0:18:55.840 spoken to a lot about what he's doing with Chess Warehouse, 0:18:55.880 --> 0:18:59.119 and he was talking about some of the very famous 0:18:59.200 --> 0:19:01.720 chefs that he's supplies to and sort of how they're 0:19:01.880 --> 0:19:05.680 both individually and collectively dealing with this. I mean, the 0:19:05.800 --> 0:19:10.400 economics have so radically changed here and that filters through 0:19:10.440 --> 0:19:14.000 not just obviously to diners like us, but to the owners, 0:19:14.000 --> 0:19:17.919 the operators and the workers. What are the good things 0:19:17.960 --> 0:19:19.879 that are being done at this point, because I know 0:19:19.920 --> 0:19:22.639 you're seeing a lot of them. I mean, well there's 0:19:22.680 --> 0:19:25.440 there's you know, there's like little silver linings. And also 0:19:25.520 --> 0:19:28.000 it must be said, um, the package that was past 0:19:28.080 --> 0:19:33.280 age very good for employees seeing what it means for restaurants. Um, 0:19:33.359 --> 0:19:36.680 but definitely in terms of unemployment, for people who went 0:19:36.720 --> 0:19:40.000 from paycheck to being desperate, it's, um, it's very good 0:19:40.000 --> 0:19:43.639 news for them right now. But supter um sucter. You 0:19:43.680 --> 0:19:45.560 know they've turned some of them are turning to restaurants 0:19:45.560 --> 0:19:48.800 into corner stores and they even have toilet paper get 0:19:48.840 --> 0:19:51.960 they're throwing along with bottles of wine and they're take 0:19:52.080 --> 0:19:54.560 out food. Um, but there is lots you can do 0:19:54.640 --> 0:19:57.520 for in it next week with Chris Poppas from Seft 0:19:57.560 --> 0:20:01.840 Warehouse about how the that's that Um, the fact that 0:20:01.920 --> 0:20:05.679 chefs aren't buying have they are and dancy teases and 0:20:05.800 --> 0:20:09.840 pastas and wade beat anymore means that customers, consumers can 0:20:09.880 --> 0:20:11.680 get them at a discount. So look out for that 0:20:11.760 --> 0:20:14.359 story next week. You know, Kate, you're talking to you 0:20:14.400 --> 0:20:17.360 know Danny Meyer, You're you're talking to all the all 0:20:17.400 --> 0:20:19.359 these big you know, Dan barbera the chef, and Cohner 0:20:19.400 --> 0:20:21.720 a blue Hill. I mean, these these folks, Danny Meyer, 0:20:21.760 --> 0:20:23.760 you say, was forced to lay off eighty percent of 0:20:23.800 --> 0:20:26.560 his workforce, or two thousand people. Dan Barber is saying, 0:20:26.560 --> 0:20:28.560 this is the worst hard time. I mean, these are 0:20:28.600 --> 0:20:32.159 individuals who've been through nine eleven, They've been through the 0:20:32.240 --> 0:20:35.680 eight seven Black Friday crash, They've been through the AIDS epidemic, 0:20:35.680 --> 0:20:38.240 They've been through so many crises that our science society 0:20:38.240 --> 0:20:41.800 has faced, and yet this is like no other. I mean, 0:20:41.880 --> 0:20:46.960 Danny Meyer, Danny Meyer, Well, Danny Meyers always like always 0:20:46.960 --> 0:20:49.480 has something to say. He really is always glass half fool, 0:20:49.520 --> 0:20:53.719 and he is devastated. He um, he absolutely for him 0:20:53.760 --> 0:20:55.840 to lay up one person's hard he had to lay 0:20:55.920 --> 0:20:59.560 up eight percent of the workforce, which is systematic of 0:20:59.600 --> 0:21:02.320 what's going on in the restaurant industry right now. And 0:21:02.359 --> 0:21:06.080 for that, Jonathan Waxton said, he's seen like the financial crass, crass, 0:21:06.080 --> 0:21:09.120 the eighth crisis, so many things and this is by 0:21:09.200 --> 0:21:12.520 far the worst he's ever seen. And of course, right, 0:21:12.560 --> 0:21:15.639 I mean like this speaks to just how devastating. This 0:21:15.800 --> 0:21:19.800 particular scenario is where we're just seeing service, the service 0:21:19.840 --> 0:21:22.879 sector be the one that takes it on the nose here. Usually, 0:21:22.880 --> 0:21:25.040 you know recessions, and we have this in the current 0:21:25.080 --> 0:21:28.919 issue of the magazine and our Eco section. Usually recessions 0:21:28.920 --> 0:21:32.920 start basically with the manufacturing sector sector. So the fact 0:21:32.960 --> 0:21:35.919 that this is UM hitting service so hard is going 0:21:36.000 --> 0:21:40.399 to be really one of the memorable things about this 0:21:40.480 --> 0:21:44.280 particular precament. And when you think about all the cascading 0:21:44.280 --> 0:21:47.160 effects here, obviously, like you know, going out to restaurants 0:21:47.160 --> 0:21:48.680 is sort of out of the question at the moment, 0:21:48.840 --> 0:21:51.800 but you think about you know, restaurants have to pay leases, 0:21:52.000 --> 0:21:55.280 and leases being commercial real estate, and commercial real estate 0:21:55.320 --> 0:21:59.120 will be heavily impacted by this as much as frankly, 0:21:59.160 --> 0:22:00.600 like you know, residents. So it was going to be 0:22:00.640 --> 0:22:03.359 there too, because people are suddenly losing jobs and not 0:22:03.400 --> 0:22:07.040 able to pay their mortgages. But we haven't seen a 0:22:07.080 --> 0:22:11.680