Coronavirus’s Alarming Impact on African-Americans; What Do We Do After?

Squawk Pod

CNBC

Investing, Business, News, Business News

4.2 • 543 Ratings

🗓️ 8 April 2020

⏱️ 26 minutes

🔗️ Recording | iTunes | RSS

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Summary

“There is going to be a wrenching debate about who got bailed out, and who didn't.” Tom Friedman, foreign affairs columnist at The New York Times, discusses the difficult debates society must have once the Coronavirus passes its peak. John Hope Bryant, chairman and CEO of Operation Hope, on the economic impact on small businesses run by entrepreneurs of color. On a larger scale, PVH CEO Manny Chirico says his company has furloughed about 75% of its workforce in North America as Calvin Klein, Tommy Hilfiger and other PVH-brand stores have been closed since mid-March.

Transcript

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0:00.0	This is
0:02.0	This is Squackpad. I'm C. NBC producer Katie Kramer.
0:05.0	Today on our podcast,
0:06.0	New York Times columnist Tom Friedman on what America needs
0:10.0	to overcome a pandemic.
0:11.0	The meta discussion we have to have is about
0:14.4	resilience and propulsion. The devastating impact of coronavirus on small
0:19.7	businesses run by entrepreneurs of color. John Hope Bryant joins us.
0:24.0	You're talking about most businesses are saying that they can last about three months.
0:28.0	For a black-owned business, you cut that in half.
0:32.0	And major retail chains continue to suffer.
0:35.0	Manu Churico is CEO of PVH overseeing brands
0:38.0	such as Calvin Klein and Tommy Hilfiger.
0:40.0	There will be winners and losers.
0:42.0	There will be casualties along the way and this virus is just totally intensified back.
0:48.0	It's Wednesday, April 8th, 2020, Squawk Pot begins right now.
0:54.7	Good morning everybody.
0:55.8	I'm Becky Quick along with Joe Kernan and Andrew Ross Sorkin.
0:58.8	Let's start with yesterday's wild ride on Wall Street.
1:02.4	First up today on the podcast, a few numbers.
1:05.0	The number of confirmed US cases of coronavirus rising above 400,000,
1:10.0	and more than 12,000 have died in America.
	...

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