WEBVTT

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SITES LATER THIS WEEK.

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>> THE VARIOUS STATE AND CITY

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CORONAVIRUS RESTRICTIONS ARE

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HAVING A DRAMATIC EFFECT ON

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LOCAL BUSINESSES ESPECIALLY MOM

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AND POP RESTAURANTS AND STORES.

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PARIS SCHUTZ IS GETTING THE VIEW

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ON THE GROUND.

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TONIGHT HE JOINS US FROM

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CHINATOWN TO TALK ABOUT THE

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IMPACTS ON THAT COMMUNITY.

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PARIS?

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>> IN MANY WAYS CHINATOWN IS

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GROUND ZERO FOR THE ECONOMIC

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IMPACT OF THE CORONAVIRUS

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BECAUSE IT STARTED TO SEE A

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SLOWDOWN IN BUSINESS SEVERAL

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WEEKS AGO WHEN CONCERNS ABOUT

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THE VIRUS IN THE U.S. STARTED TO

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MATERIALIZE AND NOW IT'S GROUND

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TO A COMPLETE HALT.

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WE TRIED TO FIND RESTAURANTS

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OPEN FOR LUNCH THIS AFTERNOON

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AND WE ONLY FOUND A HANDFUL FOR

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DELIVERY AND TAKE OUT.

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THE CHAMBER OF COMMERCE

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PRESIDENT MABEL MOY HOPES THAT

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SMALL BUSINESS LOANS COULD

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MATERIALIZE TO KEEP SOME OF THE

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BUSINESSES AFLOAT AND ANY

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FEDERAL STIMULUS INCLUDES A

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LIFELINE FOR SOME OF THESE

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BUSINESSES.

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>> NOW I COULD SEE BEFORE 40-50%

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DOWN NOW IT'S 80% I THINK.

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FOR THE PEOPLE WHO CLOSED THAT'S

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IT.

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100% LOSS.

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I DON'T KNOW HOPEFULLY THEY CAN

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GET SOME ASSISTANCE FROM THE

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PACKAGE.

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IT SEEMS LIKE NOT TOO MANY

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PEOPLE ORDERING CARRY OUT.

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AND HOPEFULLY, AS I SAY,

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HOPEFULLY THE FIRST WEEK PEOPLE

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GOT A LOT OF FOOD AT HOME.

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THEY TRIED TO COOK AND DO THIS

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IT IS A FUN THING TO DO AT HOME.

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BUT AFTER A WEEK OR TWO,

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HOPEFULLY THEY COME OUT AND GET

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CARRY OUT.

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>> MABEL MOY SAYS A LOT OF

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BUSINESSES MADE THE DECISION TO

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SHUTDOWN BECAUSE THEY COULD NOT

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AFFORD PAYROLL OR RENT OR

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UTILITIES AND COSTS LIKE THAT.

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ONE OF THE RESTAURANTS WE

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VISITED TRIPLE CROWN WAS OPEN ON

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WENTWORTH IN THE HEART OF

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CHINATOWN HAD A STEADY STREAM OF

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DELIVERY ORDERS PROCESSED.

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THE OWNER HAS BEEN ABLE TO DO

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20% OF THE BUSINESS THAT HE

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NORMALLY DOES AND DOWNSIZED FROM

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35 FULL-TIME WORKERS TO SEVEN

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THAT WORK ROTATING ON A SHIFT TO

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MAKE A PARTIAL SALARY.

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>> WE TRY JUST TO MAKE SURE BY

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GUYS GET A LITTLE BIT OF MONEY

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TO PAY RENT AND SUPPORT THEIR

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FAMILIES.

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WE'RE ROTATING.

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EVERYBODY WORKS TWO, THREE DAYS

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AND IT ROTATES WEEKLY.

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AND TRYING TO WORK WITH LANDLORD

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ALSO WITH THE RENT BECAUSE RENT

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IS SUPER HIGH.

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AND WE'RE JUST PLAYING A NUMBERS

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GAME RIGHT NOW.

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>> IS THE LANDLORD --

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>> HE IS BEING PRO-ACTIVE BUT

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ONGOING CONVERSATION NOTHING SET

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IN STONE YET.

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BECAUSE LONG RUN WE HAVE BEEN IN

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CHINATOWN SINCE '92.

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AND I'M THE SECOND GENERATION

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AND WE WANT TO KEEP THE FAMILY

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BUSINESS GOING.

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BUT AT THE SAME TIME IT'S HARD

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WITH THE PANDEMIC HAPPENING.

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AND NOBODY FACED BEFORE.

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>> ONE OF THE THINGS HE TOLD US

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HE HAS WRITTEN OFF 2020.

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HE KNOWS THE BUSINESS WILL BE IN

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THE RED AND THE DECISION MADE IS

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TO ACCEPT A LOAN FROM A LOCAL

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BANK AT 3.75 INTEREST OR NOT

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HAVE THOSE ON THE BOOKS.

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WHAT MABEL MOY SAYS SHE IS

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TRYING TO COORDINATE WITH LOCAL

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BANKS TO GET FAVORABLE TERMS TO

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GET THE BUSINESSES OPEN.

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I'M GOING TO SIT DOWN WITH

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REPRESENTATIVE THERESA MAH TO

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TALK ABOUT SOME OF THE CULTURAL

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FALLOUT OF THE CORONAVIRUS

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SPECIFICALLY WITH THE BRANDING