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.
In the wake of Robinhood announcing it will be letting go of 9 percent of its staff, Caleb Silver, Investopedia editor-in-chief, joined Cheddar News to talk about the growing pains that the trading platform is going through, how it is affecting its user experience, and where it goes from here. “I think you're gonna see a little bit more automation, but that's how Robinhood was built," he said. "I think what you'll see is less marketing." Silver also noted that the steep drop in the stock price leaves it potentially open to being acquired. "I'm not saying that I know anything about this, but they're looking awful cheap. And when you think about what's going on with Twitter and some of these other platforms, you can see a buyer coming for Robinhood any minute now."
Stocks closed slightly higher Wednesday as the Nasdaq closed flat after a failed attempt to close higher. Investors are keeping an eye on earnings, which so far have been shaky for big tech giants and companies that typically drive the market. Garrett Phillips, Managing Partner at 3Summit Investment Management, joins Closing Bell to discuss today's close, our current volatile environment, where to invest in the current environment, and more.
Ron Carson, CEO and Founder of Carson Wealth, sits down with Cheddar's Hena Doba to share how he achieved 'work-life harmony' by investing time and money into businesses he's passionate about.
Jan Lee, co-founder of Neighbors United Below Canal, joins Cheddar News to discuss how the new mega jail in NYC's Chinatown will negatively impact the community.
Melissa Eamer, founder and CEO of aging wellness brand Modern Age, joins Cheddar News to discuss the recent launch of its digital experience and flagship in New York City.
Danny Trejo is teaming up with Tostitos the once again for Cinco de Mayo. The actor and restaurateur is starring in the tortilla chip brand's commercial with Sofia Reyes to inspire others on how to celebrate the holiday. The "Machete" star joined Cheddar News to talk about the campaign. "I only do things I like, and I like Tostitos," he said. "You know, I love their Scoops. They don't break in the guacamole."
With National Infertility Awareness Week underway, the fertility and family-building benefits provider for employers, Kindbody, is looking to make a full suite of treatments and care accessible — including for LGBTQ+ patients. Founder and chairwoman Gina Bartasi joined Cheddar's Opening Bell to talk about the importance of infertility awareness, what role employers play in offering benefits, and how to remove the stigma around the fertility conversation. "We have to talk about the patient holistically, not just fertility services, but what can we do from a mental health standpoint to support patients," she said. "Most patients talk about fertility being more stressful than divorce, infertility being more prevalent than cancer or diabetes. So it is our mission, remains our mission, to elevate awareness around infertility, not just [during] National Infertility Awareness Week."
With a constrained supply of housing in the most desirable markets, home prices have risen nearly 20 percent year-over-year in February. David O’Reilly, CEO of Howard Hughes Corporation, joined Cheddar News to talk about where people are migrating to, and away from, leading to red hot real estate. "We see clearly the most demand is going into those states that I would define as warmer and less expensive, those secondary cities like Houston, Phoenix, and Las Vegas, where individuals are trading in higher traffic and lower quality of life for more affordability," he said. O'Reilly pointed to urban centers in the Northeast and West Coast as seeing the most losses in residents.
Social media giants including Twitter, Meta, Alphabet, and Pinterest all report earnings this week, and there's plenty to keep an eye on. One big earnings report to watch will be Twitter's, after the company today accepted Tesla CEO Elon Musk's $44 billion bid to take the company private. Investors will also be keeping an eye on ad revenue, user numbers, and more when it comes to Meta's social media networks like Facebook and Instagram. Ted Mortonson, technology strategist at Baird, joins Closing Bell to discuss Musk's Twitter takeover, how Apple's iOS privacy change could continue to impact ad revenue, and more.
