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Business Leaders vs. NYC

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Published 09/14/2020

What Happened?

One of the hardest-hit cities of the pandemic, New York City, is struggling to return to its former glory.

Big rotting apple. Over 160 business leaders signed a letter to the New York City mayor, urging him to stop the city’s decline.

  • Within the letter, the leaders asked the mayor to reactivate prior services that have since been cut since the pandemic such as garbage pickups and graffiti removal.
  • Among the leaders included executives from Mastercard, Citigroup, and Nasdaq.
  • Homicides are also up 49% after the pandemic compared to last year.

The message: The business leaders stated that the city needs to become safe and maintain a healthy environment again, or else people will be slow to return to the city.

How Does it Affect My Wallet?

Financial crisis. New York City is currently in a $9 billion deficit over the next two years.

  • Over the next coming weeks, over 22,000 NYC government workers are expecting to be laid off.

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