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Business leaders call on Mayor de Blasio to fix NYC

NYC business leaders wrote an open letter to Mayor Bill De Blasio, urging the mayor to crackdown on New York City’s quality of life and economic issues. Yahoo Finance’s On The Move panel share the details.

Video Transcript

- Something else that's causing trouble is just good old life here in New York City. 150 women, men, business leaders in this city sent a letter to Mayor Bill de Blasio, warning the administration that quote, "widespread anxiety" over public safety, cleanliness, and other quality of life issues.

Essentially telling the administration, clean up your act. You've got to get people back to New York City. Start with you, Rick Newman. Not unprecedented for business leaders to do this kind of thing in other venues. Is this going to hit home with de Blasio? Or is he going to say, go away.

RICK NEWMAN: It's a black eye for de Blasio for sure. Now as I talk I'm sitting here in the suburbs. But I have been in the city several times in the last few weeks. You can tell the city is coming back to life, but you can also tell, you know, there are problems.

So, you know, crime is up. That's a big problem. You've got a lot of people away, wondering when they should come back. And you got businesses, wondering when they should reopen. So I think even, you know, even if you just look at it as a business issue, these are CEOs and people who run companies on behalf of businesses saying, we need this city to go back to the way it was, not slide into some form of disrepair.

- Yeah, you know, I've been in the city, I'm in Queens now. And Adam I believe you're in the city as well. I mean, you know, you do go out, you do see issues with, you know, sanitation. There are, you know, fewer garbage pickups in parks, things like that.

But it is far from the hellscape that this ad, or letter rather to the mayor, makes it seem like. There's been certainly problems with crime, especially guns and shootings. And the murder rate is higher, but a lot of that is not necessarily related to specifically coronavirus. It's the knock-on effects of coronavirus where, yes you have the lockdowns and then you have layoffs. And so people are, you know, frustrated because they don't have jobs.

And then on top of that, during the summer, that's usually when things like that happen. The NYPD has something called the Summer Streets Program. Where they'll go around and specifically patrol neighborhoods where they think that there may be more shootings. So I think this is just all exacerbated by the virus and by the economic slowdown. But, you know, a letter to the mayor isn't going to get the virus to go away.