Coronavirus: Rezdora Part One

Jill on Money with Jill Schlesinger

Audacy

Self-improvement, Business, Investing, Education

4.6 • 1.8K Ratings

🗓️ 8 August 2020

⏱️ 14 minutes

🔗️ Recording | iTunes | RSS

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Summary

Small businesses have been decimated by the pandemic, and perhaps no industry has been impacted more than the hospitality industry, especially in cities like New York. According to a recent survey, more than 80% of restaurants and bars in the Big Apple couldn’t pay their rent in July. One of those restaurants fighting to survive is Rezdora, an Italian restaurant in New York City's Flatiron neighborhood that was put on the map after a three-star review in the New York Times. Chef and co-owner Stefano Secchi joins us on the podcast this weekend to discuss what he's doing to try and survive the pandemic, as well as his thoughts on the future of the hospitality industry once the pandemic passes. Apologies in advance if this interview leaves you hungry and looking for reservations the next time you visit the NYC! Have a money question? Email me here. Please leave us a rating or review in Apple Podcasts. "Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Transcript

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0:00.0	Welcome to the Jill on Money Corona virus Market update. It is Saturday, August 8th.
0:10.0	And we did receive from the government the report on July jobs.
0:17.0	There were just under 1.8 million positions created during the month of July, and that was probably right in the middle
0:24.7	kind of the consensus it was such a strange estimate because I saw reports of
0:30.1	people who thought that there were going to be job losses in July, maybe up to a
0:33.8	million, maybe there were job gains, up to 3 million, so this was sort of right in the
0:38.6	middle, seemed okay to me. Okay, what else did they tell us? They told us that the unemployment rate, that headline number, 10.2%, down from 11.1%. Good news. The broader unemployment rate, that's the one that we like to look at and when we talk about the U6.
0:57.0	That rate stands at 16.5%, you know, big numbers, but down, down from the peak of 22.8%. You know I think that this just tells us what we really know
1:10.1	intuitively and that is that the spread of the virus in the south and the west, now the
1:14.6	Midwest, looks like it is slowing down the forward progress.
1:18.9	22 million jobs evaporated in March and April.
1:22.4	Then about 7.5 million came online in May and June. I mean
1:26.0	June 4.8 million jobs. Ridiculous huge number. Now we find out 1.8 million. So we know that job growth slowed down some in July. I guess that's
1:37.4	okay. I think we just got to keep an eye on the path of the virus. That is going
1:41.9	to determine what happens in the economy. Okay, now you got
1:47.1	your data dump. Glad I could do that with you. Let's do something a little different this week and we're switching gears.
1:54.0	We are going to talk to a chef and owner of a restaurant in New York.
1:59.1	The restaurant's name is Resdora.
2:01.8	The chef's name, the chef co-owner is Stefano Seckey. And I just want to point out that this
2:09.9	restaurant, Rez Dora, got a ton of notoriety just over a year ago.
2:14.5	The New York Times restaurant reviewer Pete Wells went in there and gave it a rave review.
2:20.7	I saw the review.
	...

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