(CNN) — Prominent Wall Street economists like Mark Zandi, investing luminaries like ARK Invest’s Cathie Wood and executives like JP Morgan Chase CEO Jamie Dimon can make recession predictions until they’re blue in the face , but their guidance will remain just that — an economic forecast. That’s because, in the United States, the economy isn’t broadly and officially considered to be in a recession until a relatively unknown group of eight economists says so. READ MORE: Maryland Weather: Sunny & Warm The economists, who serve together as the Business Cycle Dating Committee , are hand-selected by and work under the umbrella of the National Bureau of Economic Research (NBER), a private nonprofit organization. They have no predetermined meeting dates and their deliberations are private. There are no fixed term dates and the final determination of who gets to serve on the committee is made by one man: NBER president and Massachusetts Institute of Technology economist … [Read more...] about Who Decides If We’re In A Recession? 8 Economists You’ve Likely Never Heard Of
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Throughout the month of June, several Bay Area business owners announced the permanent closure of their cherished restaurants and bars after decades in service. Among the shuttered businesses was Buffalo Bill’s Brewery in Hayward, which closed its doors after nearly four decades. Owner and master brewer Geoff Harries first shared the news of Buffalo Bill’s Brewery’s closure on Instagram and later told SFGATE that his decision to close was based on a lengthy closure during the pandemic. The historic bar will be remembered for putting pumpkin ale on the map back in 1986 when its former owner, Bill Owens, revamped the polarizing brew and turned it into a seasonal classic. In San Francisco, Ramon Oropeza Sr., the owner of Villa D'Este, also announced the closure of his cherished Italian restaurant after 44 years. It’s unclear whether the pandemic motivated Oropeza in his decision to permanently close, but in a goodbye message, he told his longtime customers that he was looking … [Read more...] about Villa D’Este, Buffalo Bill’s Brewery and more Bay Area restaurants, bars that closed in June
Good morning, Bay Area. It’s Thursday, June 30, and we may finally find out today if the Oakland Athletics will be approved to move forward with their ballpark at Howard Terminal. Here’s what you need to know to start your day. Surge upon a surge? Before the current COVID surge, the Bay Area had been accustomed to the pandemic pattern where a rise in cases over several weeks was then followed by a short plateau and rapid drop. It’s now very clear: that isn’t playing out this time. Cases continue to rise in the Bay Area and across the nation, as two new highly infectious and immune-evasive coronavirus variants, BA.4 and BA.5, become dominant. These new variants could prolong the current surge or cause a fresh spike in cases, and they could apply pressure on health care systems frayed from nearly three years of pandemic stress. Just how bad could things get this time — and would mask mandates and other restrictions return? Erin Allday looks at what we know now . How to … [Read more...] about Bay Briefing: Will new COVID variants make the surge even worse?
When Simon Tran had to close his restaurant Botellón Spanish Tapas & Wine after nine months in City Park West last summer, he wasn’t ready to call it quits yet. “Why would I stop?” Tran said. “I’m the type of person who likes taking risks. Servers, bartenders and chefs have all been so complacent in our previous jobs that this is so exciting and new for us. We wanted some sort of adventure, and there’s no feeling like doing something new and creative.” Tran is getting ready to reopen Botellón in a new location at 2124 Larimer St. in the Ballpark neighborhood, targeting late August or early September. The space Tran previously operated Botellón in, at 1618 E. 17th Ave., was leased by local restaurateur Alex Gurevitch, who ran Peruvian eatery Limón there for nearly 10 years until 2015, then a Southern eatery called Bread N Butter for two years and finally a barbecue restaurant dubbed Smokehouse17 for a year. Tran said he bought the business assets from Gurevitch and … [Read more...] about Spanish restaurant that closed after 9 months reopening in Ballpark
Despite what its name implies, Reckless Noodles is carefully planning its next move. The roughly 5-year-old noodle house and cocktail bar in Seattle is adding a second location in Denver. Owner Bryce Sweeny said he hopes to open in November at 820 Sherman St., where he has leased roughly 3,000 square feet on the ground floor of the Moto apartment building. “We’ve been looking to expand here for quite a while,” Sweeny said. “The demographic in Denver is really similar to Seattle … our average clientele are all late 20s, mid 30s, mid 40s – active young adults.” Sweeny, a California native who used to live in Vail, said that the plethora of activities in the region, like rock climbing and skiing, also contributed to his desire to open up a spot in Denver. He plans to move to the area to “make sure everything gets off the ground.” Within the city, Sweeny had been eyeing the RiNo and Cap Hill neighborhoods specifically before settling on the spot on Sherman. The unit used to … [Read more...] about Seattle noodle house and bar taking space in Cap Hill