With the threat of holiday-related COVID-19 spread passed, restaurants across New York are reopening for indoor dining — except for restaurants in the state's biggest city. New York City restaurateurs are fighting back for their very survival. Seaport House owner and executive chef Kian Khatibi is pushing on with a lawsuit, filed in December, demanding immediate reopening of indoor dining.
Khatibi opened Seaport House, a seafood joint in the historic South Street Seaport district, on October 31 in the thick of the COVID-19 pandemic. Building out and opening a restaurant amid the pandemic was no cakewalk, but neither is operating.
"Right now, you know, we're running on an empty tank. Every day pays our bills. And that's about it," he said.
The new restaurant got to enjoy less than two months of indoor dining, albeit at significantly reduced capacity, before New York Gov. Andrew Cuomo cracked down again. As of mid-December, indoor dining closed down again, indefinitely, as COVID-19 cases spiked across the state and nation.
But the data behind the governor's decision didn't sit well with Khatibi, who is also a licensed attorney. According to data collected by the state, bars and restaurants are responsible for roughly 1.4 percent of new coronavirus infections. By contrast, the top contributor to spread, private gatherings, accounts for a whopping 74 percent of infections.
He decided to sue, arguing that indoor dining saves lives by giving people something to do other than gather in private homes.
"People are congregating," said Migir Ilganayev, Khatibi's co-council on the case. "By shutting down indoor dining, places that are safe, that are ventilated, that provide UVC lights in the ceilings, open windows — when you take that away from the people, especially during the holiday season, they'll find a place to go."
Although many cases questioning the constitutionality of lockdown orders have been slapped down by judges, Ilganayev said he thinks they have a chance because "numbers don't lie."
The case is heading to court for a preliminary injunction hearing on Jan. 21.
The coronavirus pandemic has been devastating to the restaurant industry, which even in the best of times is a business with very slim margins. More than 1,000 restaurants have shut down permanently in New York City, alone, according to Eater.
A relative newcomer to New York City's restaurant scene, Seaport House is getting by, thanks largely to an expensive outdoor seating installation. But even the optimistic Khatibi knows times ahead will be tough if indoor dining remains shut down amid winter.
"You know, we just have to make it to March," he said.
Sky Harbour, a company developing private aviation infrastructure, is gearing up to land on Wall Street. The company announced plans to go public through a SPAC deal with Yellowstone Acquisition Company, valuing the combined venture at $777 million. The company will trade on the New York Stock Exchange as $SKYH.
Dish Network is reportedly in discussions to merge with DirecTV. According to the NY Post, the two sides are currently 'trying to iron out the details.' The competitors have had talks in the past -- over the course of the past 20 years, but those talks been halted by the DOJ over antitrust concerns. Lydia Moynihan, Business Reporter, NY Post joined Cheddar's Opening Bell to discuss.
Stocks closed higher Wednesday, with the Nasdaq making gains for the third day in a row despite this morning's CPI data showing inflation continues to run hot. The report showed that CPI ticked up to 7% in December, and while it was the biggest jump since 1982, the data was broadly in line with Wall Street's expectations. Mark Lehmann, CEO of JMP Securities, a Citizens Company, joins Cheddar News' Closing Bell to discuss today's close, the Fed's proposed monetary tightening, and more.
As more and more consumers are experiencing empty shelves at their grocery stores, Phil Lempert, editor of SupermarketGuru.com, spoke with Cheddar's Ken Buffa to discuss the changes in the supply chain that have trickled down into our grocery stores. "It's really three major factors: number one is climate change, number two is labor, and number three is transportation," he explained. Lempert also called on people to shop with local, independent grocers, calling it "critical to our infrastructure."
CPI rose 7% from a year prior in December, showing that inflation has continued to increase at its fastest pace since June 1982. Consumers are feeling the pressure when it comes to food, apparel, and used car prices, but got some relief in December as energy prices ticked slightly lower month-over-month. How will this ongoing inflation streak impact U.S. monetary policy as the Federal Reserve says it's prepared to implement aggressive tactics like raising interest rates? John Leer, Chief Economist at Morning Consult, joins Cheddar News' Closing Bell to discuss December's CPI data, what it means for consumers, how the Federal Reserve can help limit inflation, and more.
One startup is working to reverse climate change one seed at a time. Terraformation is a global forest accelerator that provides tools, training, financing, and business support to help scale forest restoration projects worldwide. Forests naturally absorb carbon and Terraformation says that reforestation is a safe, low-cost, and scalable solution to the climate crisis. Yee Lee, VP of growth at Terraformation, joins Cheddar Climate to discuss.
