Varney: America’s cities are in crisis
'I don't think city life or business will ever quite be the same again'
FOX Business' Stuart Varney on big cities being permanently impacted by the coronavirus pandemic and riot violence.
FOX Business’ Stuart Varney, in his latest “My Take,” argues that American cities are experiencing crises between rising violence during protests and the coronavirus pandemic's impact on business.
In New York City, Varney said stores like Starbucks has not reopened most locations, Macy’s has a “tiny fraction” of foot traffic from what used to be and Lids’ top executive said doing business in New York is not an “economically viable situation.”
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SBUX | STARBUCKS CORP. | 102.50 | +2.44 | +2.44% |
| M | MACY'S INC. | 16.29 | +1.23 | +8.17% |
“The New York Post spells it out,” he said. “‘NYC is now the worst place to do business.’ It’s the crisis of the cities.”
VARNEY: MOB RULE, CORONAVIRUS SHUTDOWNS WILL SET AMERICAN CITIES BACK FOR YEARS
Varney said another riot in Portland, Oregon, after 56 nights in a row, doesn’t fix the issue. Democratic Mayor Ted Wheeler, he said, had to be protected from the protesters he supports.
“How will that city recover after its take-over by anarchists?” he said.
In Chicago, Varney said Mayor Lori Lightfoot is now accepting aid from federal agents sent in by Trump.
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“But she's lost control of the city,” he said. “Why should office workers return to the office towers, keep social distance and ignore the threat of rising crime?”
Former civil rights activist Robert L. Woodson adds his perspective on the current nationwide protests.
In Los Angeles, Varney said, classroom teaching has been canceled while Mayor Garcetti considers another stay-at-home order.
Varney said no matter which city is in crisis, the same problems are occurring nationwide which could potentially become permanent.
“It’s the same problem all over,” he said. “Office workers can't come back to their cubicles. Mass transit can't cope with social distance. The tourists are gone. Commuters are scared of rising crime. Retailers, restaurants and bars are shutting their doors. All of this changes the look, feel and future of America’s cities. It’s a crisis. And I don't think city life or business will ever be quite the same again.”