DIRS.INFO The most relevant business & tech news

SAN FRANCISCO (AP) — Reparations advocates urged San Francisco supervisors Tuesday to adopt recommendations aimed at shrinking the racial wealth gap and otherwise improving the lives of Black residents as atonement for decades of discriminatory city policies, including the granting of a lump-sum $5 million payment to every eligible adult. San Francisco's Board of Supervisors was expected to vote Tuesday to accept the final reparations plan issued by the city's African American Reparations Advisory Committee. San Francisco embraces its image as a sanctuary for people living in the country illegally and members of the LGBTQ community. More than 200 people rallied outside City Hall before Tuesday’s board meeting, demanding that the city start addressing the enormous disparities for Black San Franciscans. Critics say the city's reparations plans are unconstitutional and would ruin the city financially.

Persons: Mayor London Breed, Rev, Amos C, Brown, Richie Greenberg, ” California's, Eric Risberg Organizations: FRANCISCO, San, Francisco's, Supervisors, Mayor London, Black San, Associated Press Locations: San Francisco, Francisco

☆ American Eagle sues Westfield over San Francisco mall conditions
▼ + stars: | 2023-09-13 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

It shifted all the blame to San Francisco,” American Eagle said in the complaint. American Eagle signed its lease with Westfield in 2017, and it expires in 2028. Once a bustling retail center in the heart of San Francisco, the San Francisco Centre has taken a significant hit in the past few years. San Francisco Mayor London Breed has proposed tearing down abandoned retail spaces, including the Westfield mall. As San Francisco’s downtown area has struggled over the last three years, property crimes and retail thefts have risen, according to San Francisco Police Department data.

Persons: “, San Francisco Mayor London Breed Organizations: New, New York CNN, Eagle, Westfield, San Francisco Centre, American Eagle, “ Westfield, Nordstrom, San Francisco, San Francisco Mayor London, CNN, San Francisco Police Department Locations: New York, San Francisco, Westfield, Banana Republic, Union, Francisco’s

☆ It’s not just crime: What’s really going on with San Francisco’s shrinking retail district
▼ + stars: | 2023-08-30 | by ( Samantha Delouya | ) edition.cnn.com time to read: +7 min

Mapping the exodusUnion Square has historically been a major commercial hub in the heart of San Francisco’s downtown. A complicated decline in downtownThe reasons for downtown San Francisco’s economic troubles are multi-faceted. In addition, San Francisco’s downtown has experienced a rise in its unhoused population. As San Francisco’s downtown area has emptied over the last three years, property crimes and retail thefts have risen, according to San Francisco Police Department data. Travel to San Francisco has yet to recover fully to pre-pandemic levels, according to data from San Francisco International Airport.

Persons: —, ”, Elon Musk, Tesla, Francisco, “, Lori Lincoln, San Francisco —, Lincoln, Breed, Alexander Quinn, Breed’s, Sarang Peruri Organizations: Los Angeles CNN, Lease, Google, city’s, Nordstrom, CNN, Westfield, San Francisco Centre, KGO, University of California, San Francisco Police Department, San Francisco International, San Francisco Travel, Tourism, San, Oxford Economics, Asia hasn’t, San Francisco Mayor London, Francisco’s, Oxford Capital Group, Ikea, IKEA Locations: Francisco’s, United States, San Francisco’s, Union, Westfield, San Francisco, San, California, Redfin, Palo Alto, Asia, Americas, Europe, Pacific, San Mateo, Lincoln, China, Downtown, Chicago

☆ Stores are leaving San Francisco. Ikea is opening this week
▼ + stars: | 2023-08-21 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +3 min

New York CNN —Ikea is opening a new store in downtown San Francisco Wednesday, bucking the trend of retailers closing in the city. Ikea is opening a new store this week in downtown San Francisco at 945 Market Street. While violent crime statistics in San Francisco have remained relatively low in recent years, property crimes have risen since 2020, according to San Francisco Police Department data. Activity this spring in downtown San Francisco, as measured by mobile phone use, was 68% below its pre-pandemic levels, the largest decline of any US city. In June, shopping mall operator Westfield announced it would give up control of its San Francisco mall, citing “challenging operating conditions in downtown San Francisco, which have led to declines in sales, occupancy and foot traffic.”A month earlier, Nordstrom, one of the biggest retailers in Westfield, said it would shutter both of its San Francisco stores.

Persons: San Francisco Mayor London Breed, Nordstrom, San Organizations: New, New York CNN, Ikea, Shoppers, IKEA, San Francisco Mayor London, San Francisco Police Department, Westfield Locations: New York, San Francisco, San, San Francisco’s Union, Westfield, Francisco

☆ A luxury department store in San Francisco threatens to shut up shop after 162 years, describing the city as 'unlivable' for its residents and 'unsafe' for its staff
▼ + stars: | 2023-08-16 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

The owner of luxury San Francisco retailer Gump's warned that this holiday season "may be our last." He said San Francisco is "unlivable for its residents, unsafe for our employees, and unwelcoming to visitors." Gump's is located just off Union Square in downtown San Francisco. Chachas made his remarks in an open letter to California Governor Gavin Newsom, San Francisco Mayor London Breed, and the San Francisco Board of Supervisors in which he criticized their leadership, published as a paid-for ad in Sunday's edition of The San Francisco Chronicle. "Such abject disregard for civilized conduct makes San Francisco unlivable for its residents, unsafe for our employees, and unwelcoming to visitors from around the world."

Persons: Gump's, John Chachas, Chachas, Gavin Newsom, unlivable, San, Newsom Organizations: Service, San Francisco Mayor London Breed, San Francisco, of Supervisors, San Francisco Chronicle, Census Bureau, San, City, Statistics, San Francisco's Department of Public Health, Public, Whole Foods, Navy, Supervisors, Chachas Locations: San Francisco, Francisco, Wall, Silicon, downtown San Francisco, California, New York, Texas, Florida, San Francisco's, City and County

Whole Foods temporarily closed one of its San Francisco locations due to rampant shoplifting and continued threats to workers and customers. Park Hotels and Resorts, the investment firm that owns Hilton San Francisco Union Square and Parc 55 hotels, also recently revealed it would leave the city. A bus drives by the Westfield San Francisco Centre on June 14, 2023 in San Francisco, California. Downtown San Francisco has an estimated 18.4 million square feet of available real estate. While violent crime statistics in San Francisco have remained relatively low in recent years, compared to other major cities, property crimes have risen since 2020, according to San Francisco Police Department data.

Persons: Los Angeles CNN — John Chachas, Governor Newsom, ” Chachas, Chachas, San Francisco “ unlivable, Gavin Newsom, Justin Sullivan, Nordstrom, Thomas Baltimore , Jr, ” What’s Organizations: Los Angeles CNN, London Breed, city’s, San Francisco Chronicle, Chachas, Republican, London, San, Anthropologie, Whole Foods, Westfield, Resorts, Hilton San Francisco, Square, Westfield San Francisco Centre, San Francisco Police Department, University of California Locations: San Francisco, California, Francisco, ”, Nevada, San Francisco’s, Union, San Francisco’s Union, San Francisco , California, Park, San Francisco's, U.S, Canada, Downtown San Francisco

☆ San Francisco drives tech; will it drive away robot taxis?
▼ + stars: | 2023-08-07 | by ( Greg Bensinger | Thomson Reuters | Greg Bensinger Joined Reuters As A Technology Correspondent In Focusing On The World'S Largest Technology Companies. He Was Previously A Member Of The New York Times Editorial Board | ) www.reuters.com time to read: +7 min

[1/3] A Cruise self-driving car, which is owned by General Motors Corp, is seen outside the company?s headquarters in San Francisco where it does most of its testing, in California, U.S., September 26, 2018. Futuristic test vehicles from Cruise and Waymo are a common sight in some parts of San Francisco. The vote comes at a critical time for San Francisco, which is grappling with thousands of tech job losses, firms leaving the city, and COVID-era work-from-home policies that have contributed to a hollowed out downtown. loadingRamón Iglesias, another San Francisco resident, said that though he’d seen the videos and some erratic behavior from the cars, he supports the expansion and worries any further obstacles could drive tech companies away. “We have a very strong Luddite segment here in San Francisco and you see places like Las Vegas and Miami go out of their way to embrace tech,” said Iglesias, a data scientist.

Persons: Heather Somerville, Waymo, ”, Kyle Vogt, X, ” Cruise, San Francisco, Cruise, Julia Ilina, Mike Smith, Ramón Iglesias, he’d, Iglesias, “, London Breed, Greg Bensinger, Peter Henderson, Diane Craft Organizations: General Motors Corp, REUTERS, FRANCISCO, Motors, San, San Francisco County Transportation Authority, Cruise, California Public Utilities Commission, Las, Ford, Tesla, Francisco, FIRST, ”, London, Thomson Locations: San Francisco, California, U.S, Francisco, San, San Francisco County, State, dazzled, Dallas, Miami, Las Vegas, Los Angeles

☆ Even Elon Musk isn't 'above the rules,' San Francisco mayor reportedly says amid Twitter sign drama
▼ + stars: | 2023-08-01 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

San Francisco Mayor London Breed said Elon Musk is not "above the rules," Bloomberg reported. San Francisco Mayor London Breed doesn't appear to be a fan of Elon Musk's recent antics at X, the company formerly known as Twitter. The city of San Francisco received 24 complaints about the light-up sign, including that the sign was "poorly constructed" and disturbed nearby residents, CNN reported. The X sign is one of many issues Musk is facing in San Francisco. The company has been sued over allegations it has not paid rent at the San Francisco building, as well as had several lawsuits filed against it by former employees.

Persons: San Francisco Mayor London Breed, Elon Musk, Breed, X, Elon Organizations: San Francisco Mayor London, Bloomberg, Twitter, San Francisco Police Department, Department of, San Francisco, CNN, San Locations: San, San Francisco

Unlike past tech booms that have touched San Francisco, the generative AI craze brings fewer jobs, because AI firms excel at staying lean and automating work. "I think we should curb our optimism that San Francisco commercial real estate will bounce back because of AI," said Silicon Valley investor Jeremiah Owyang. Eleven of the country's top 20 AI companies are in San Francisco and have raised $15.7 billion collectively between 2008 and 2023. That amount is just 2.3% of the estimated 150,000 daily workers that downtown San Francisco lost during the pandemic. Reporting by Anna Tong in San Francisco; Editing by Sayantani Ghosh, Anna Driver and Matthew LewisOur Standards: The Thomson Reuters Trust Principles.

Persons: Carlos Barria, San, Jeremiah Owyang, Erin Price, Wright, OpenAI, Matt Schlicht, Mike Grabowski, Grabowski, Owyang, Lee Edwards, Daron Acemoglu, Anna Tong, Sayantani Ghosh, Anna Driver, Matthew Lewis Organizations: Intelligence, REUTERS, FRANCISCO, Reuters, Francisco, San Francisco Mayor London Breed's, San, Microsoft, Octane, Google, Nordstrom, Massachusetts Institute of Technology, Thomson Locations: San Francisco, California, U.S, Valley, NFX, Dubai

☆ Working from home could wipe $800 billion from office values globally
▼ + stars: | 2023-07-13 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Remote work risks wiping $800 billion from the value of office buildings in major cities worldwide by 2030 as the post-pandemic trend pushes up office vacancy rates and drives down rents, according to a new report. “Urban real estate in superstar cities around the world faces substantial challenges. In a more severe scenario, the value of office space could fall by as much as 42%, the consultancy said. Waning demand for office space has driven down landlords’ asking rents, with US cities suffering the sharpest falls, McKinsey found. In a moderate scenario, demand for office space could be 13% lower by the end of the decade than it was in 2019.

Persons: ” McKinsey, “, ” Organizations: London CNN, McKinsey Global Institute, HSBC, ” McKinsey, McKinsey, Bloomberg’s Technology, San Francisco Mayor London Breed, Westfield Locations: Canary Wharf, Beijing, Houston, London , New York, Paris, Munich, San Francisco, Shanghai, Tokyo, United States, Francisco and New York

SAN FRANCISCO, July 8 (Reuters) - Venture capital firm Headline used to be in one of San Francisco's most eye-catching skyscrapers: the pyramidal Transamerica building that has defined the skyline for decades. Venture capital firms are increasingly joining retailers and other businesses in finding homes outside downtown San Francisco. [1/5]People enjoy the afternoon in Presidio, a former military base-turned-national park in San Francisco California, U.S., July 7, 2023. They're actually really excited," said Eurie Kim, whose venture firm Forerunner left downtown for the Presidio in early 2022. "Mayor Breed continues to implement strategic initiatives to help stabilize existing businesses and recruit new ones as part of her Roadmap to Downtown San Francisco's Future plan.

Persons: Mathias Schilling, Schilling, Rex Salisbury, Carlos Barria, They're, Eurie Kim, CBRE, Lisa Petrie, Jon Rehagen, Molly Martell, San Francisco Mayor London Breed, Breed, Colin Yasukochi, Krystal Hu, Peter Henderson, Rosalba O'Brien Organizations: FRANCISCO, Venture, Employees, Presidio, Westfield, San, Felicis Ventures, Forerunner Ventures, Letterman, Cambrian Venture, San Francisco Bay Area, REUTERS, Presidio Trust, Lucasfilm, Walt Disney Family Museum, Catalyst, Brand, San Francisco Mayor London, Downtown San, CBRE's Tech, Thomson Locations: San Francisco, Presidio, San Francisco Bay, San Francisco's, There's, Sand, Silicon Valley, South, downtown San Francisco, San Francisco California, U.S, Marin, San Francisco ., South Park, Downtown

☆ San Francisco mayor proposes tearing down Westfield Mall
▼ + stars: | 2023-06-23 | by ( Samantha Delouya | ) edition.cnn.com time to read: +3 min

CNN —San Francisco’s mayor Thursday proposed remaking the city’s struggling downtown by tearing down abandoned retail space, including the city’s Westfield mall, and building new structures to reshape the struggling city. A Westfield Mall could become something completely different than what it currently is,” she said. Earlier this month, Westfield said it planned to surrender its mall, the San Francisco Centre, back to its lender. The mall operator cited the “challenging operating conditions in downtown San Francisco, which have led to declines in sales, occupancy and foot traffic.”Shoppers walk through the Westfield San Francisco Centre on April 13, 2022 in San Francisco, California. So, let’s make some adjustments to do everything we can to reimagine what parts of San Francisco can be,” Breed said.

Persons: London Breed, Breed’s, it’s, Breed, ”, Justin Sullivan, ” Breed Organizations: CNN, Westfield, ”, London, Bloomberg’s Technology, San Francisco Centre, Westfield San Francisco Centre, Resorts, Hilton San Francisco, Square, San Francisco, San Locations: Francisco’s, San Francisco, San Francisco , California, city’s, ”

☆ Mayor London Breed Discusses San Francisco’s Woes and What Lies Ahead
▼ + stars: | 2023-06-14 | by ( Thomas Fuller | ) www.nytimes.com time to read: +1 min

I’ve been in this city my whole life and I know what it’s capable of. Time and time again, San Francisco reinvents itself. Well before the current influx of tech workers, San Francisco was known for art and culture. Do you think San Francisco will ever be affordable again to artists and musicians? Part of what my legislation is doing is getting rid of those requirements which make absolutely no sense.

Persons: I’ve, Francisco reinvents, Francisco Locations: Francisco, San Francisco

☆ A San Francisco builder converted a former garage into 3 tiny homes
▼ + stars: | 2023-06-04 | by ( Lauren Steussy | ) www.businessinsider.com time to read: +3 min

A San Francisco housing organization transformed a garage into three small apartments. The affordable housing units cost $600,000 and are seen as a victory in the city's housing crisis. But critics told San Francisco Standard the cost of the units is high considering the square footage. An organization in San Francisco has turned a six-car garage into three 550- to 600-square-foot units, each with a bedroom, bathroom, and small kitchen. According to The San Francisco Standard, the Mission Housing units raised eyebrows among architects and building professionals.

Persons: —, Sam Moss, Rebecca Möller, Möller, Moss, I'm Organizations: San Francisco, Service, Housing, London, Mission Housing, San Francisco Standard Locations: Francisco, California's, San Francisco, Mission District

☆ A mother was raising her son in a city she loved. Then San Francisco changed and stole her boy
▼ + stars: | 2023-05-14 | by ( Sara Sidner | ) edition.cnn.com time to read: +8 min

And her son got caught up in a scene you can almost not avoid in the city: the drug scene. “When I got out of the BART station, the first thing that I was asked is if I wanted to buy drugs,” Tilghman said. “All the tents started going up in the city,” Tilghman said. “What makes me sad is that I see my son’s face in everybody’s faces … out on the streets,” Tilghman said. The Tenderloin Linkage Center, which was later renamed to just the Tenderloin Center, closed last December.

☆ A man who may have known Cash App creator Bob Lee has been arrested in connection to the fatal stabbing, per reports
▼ + stars: | 2023-04-13 | by ( Grace Kay | ) www.businessinsider.com time to read: +3 min

The San Francisco Police Department arrested a man in its investigation into Bob Lee's death, per ABC7 News and Mission Local. The man appears to have known the Cash App creator, both publications reported. Lee was fatally stabbed on April 4 in downtown San Francisco. Matt Dorsey, a member of the San Francisco Board of Supervisors confirmed the report on Twitter. Lee's former wife, Krista Lee, told KTVU Fox 2 that she believes the man who was arrested was an acquaintance of Lee's.

☆ SF police chief says there's 'evidence that we found that I can't talk about' in Bob Lee death investigation
▼ + stars: | 2023-04-07 | by ( Sindhu Sundar | ) www.businessinsider.com time to read: +3 min

The SFPD chief said Thursday there are "good developments" in the investigation, per ABC's KGO-TV. But the city's District Attorney said "this is one that's going to take time to solve," per the report. Representatives for the San Francisco police department and the city's department of emergency management did not respond to Insider's requests for comment on Friday. The San Francisco police previously said in a statement that they responded to a call regarding the attack early morning on Tuesday at 2:35 a.m. The District Attorney's office can't make a determination on bringing charges until police have concluded their investigation and made an arrest, a representative for the DA's office previously told Insider.

☆ Security footage reportedly shows Cash App creator Bob Lee looking for help in downtown San Francisco after he was stabbed
▼ + stars: | 2023-04-06 | by ( Grace Kay | Sindhu Sundar | ) www.businessinsider.com time to read: +3 min

The Mayor of San Francisco, London Breed, called Lee's fatal attack a "horrible tragedy." The video shows Lee apparently seeking help after his stabbing attack in the Rincon Hill neighborhood in downtown San Francisco, according to a report from ABC's San Francisco affiliate, KGO-TV. But The San Francisco Standard said the car pulled away and Lee then appeared to drop down to the ground. The San Francisco Police Department did not respond to Insider's request for comment on Thursday morning ahead of publication. San Francisco Mayor London Breed said that "San Francisco is prioritizing public safety," amid calls by tech industry leaders including Elon Musk to address safety concerns in the city.

☆ Bob Lee: Moments following stabbing of Cash App founder captured on video, local news site reports
▼ + stars: | 2023-04-06 | by ( Taylor Romine | ) edition.cnn.com time to read: +4 min

CNN —The moments following the San Francisco stabbing attack of Cash App founder Bob Lee were captured on surveillance video and in a 911 call to authorities, according to a local Bay Area news portal. The driver of the Toyota pulls the car away and Lee collapses to the ground. Lee manages to get up and walk a bit further before he collapses in front of an apartment building. “No one who commits a violent crime, or who’s a repeat offender are receiving overly lenient plea deals.”Her comments appear to be in response to Twitter’s new owner, billionaire Elon Musk. In total, there were 56 homicides in San Francisco in 2022, the same as in 2021.

☆ Cash App creator Bob Lee moved out of San Francisco because he thought the city was 'deteriorating' shortly before he was stabbed there, friend says
▼ + stars: | 2023-04-06 | by ( Sophia Ankel | ) www.businessinsider.com time to read: +3 min

Cash App creator Bob Lee was fatally stabbed in San Francisco earlier this week. His friend, Jake Shields, told NewsNation that Lee had recently relocated to Miami. Lee moved out of San Francisco because he thought it was unsafe, Shields added. "[Lee] did comment on San Francisco deteriorating, which is why he actually had just relocated to Miami," Shields told the outlet. Shields told NewsNation the attack was a "senseless act of violence in San Francisco," adding that the city has had "problems" for a while.

☆ San Francisco mayor says the city is 'prioritizing public safety' after Cash App creator's fatal stabbing during visit
▼ + stars: | 2023-04-06 | by ( Britney Nguyen | ) www.businessinsider.com time to read: +3 min

San Francisco's mayor called the death of Cash App creator Bob Lee "a horrible tragedy." London Breed said police are investigating, and San Francisco is "prioritizing public safety." Breed pointed to a recent budget supplemental that will put more police in SF neighborhoods. He tagged San Francisco District Attorney Brooke Jenkins to ask if "the city taking stronger action to incarcerate repeat violent offenders." San Francisco's violent crime rates are relatively favorable compared to other large cities, like Chicago and Los Angeles.

☆ San Francisco's homicide rate is low compared to other big cities, but the killing of tech founder Bob Lee shows that doesn't tell the whole story
▼ + stars: | 2023-04-05 | by ( Paayal Zaveri | ) www.businessinsider.com time to read: +6 min

The tragic killing of tech founder Bob Lee has reignited the debate over crime in San Francisco. Those stats compare relatively favorably to other big cities in the US, the San Francisco Chronicle reported, citing FBI data. Meanwhile, the homicide rate in San Francisco was 5 per 100,000 in 2020, the FBI's crime data shows, as analyzed by the San Francisco Chronicle. It's also lower than other cities of comparable sizes to San Francisco, including Columbus, Ohio. Additionally, the San Francisco Police Department must conclude its investigation before the DA's office can step in, Randy Quezada, communications director at the San Francisco District Attorney's office, told Insider's Grace Kay and Sindhu Sundar.

☆ The 'office apocalypse' won't doom big cities — it's actually making them stronger
▼ + stars: | 2023-03-02 | by ( Matthew E. Kahn | Christopher Okada | ) www.businessinsider.com time to read: +12 min

In San Francisco, tax revenue is projected to drop by as much as a billion dollars over the next six years. In order to bring in these new residents, cities will have to shift some of their priorities. Research coauthored by Steven Levitt of "Freakonomics" found that increases in violent and property crimes were correlated with city residents migrating to the suburbs. All is not lostThere's little doubt that superstar cities like New York and San Francisco have serious problems on their hands. Christopher Okada is the CEO of Okada & Company, a full-service commercial real estate brokerage and investment company in New York City.

☆ San Francisco Mayor Lays Out Strategy to Jump-Start Downtown
▼ + stars: | 2023-02-09 | by ( Jim Carlton | Peter Grant | ) www.wsj.com time to read: 1 min

San Francisco Mayor London Breed is aiming to beef up the law-enforcement presence downtown through more foot patrols. SAN FRANCISCO—Mayor London Breed rolled out her plan Thursday to revitalize the moribund downtown office market, the latest city to announce steps to recover from an exodus of workers during the pandemic. Ms. Breed’s “Roadmap to Downtown San Francisco’s Future” includes a mix of tax incentives and a renewed focus on cleaning up the streets.

☆ How San Francisco can tackle two of its biggest issues: office vacancies and housing
▼ + stars: | 2022-12-30 | by ( Sydney Boyo | ) www.cnbc.com time to read: +6 min

"Prior to the pandemic, in the city of San Francisco, our office vacancy rate was about 4%. San Francisco has been referred to as the work-from-home capital of the United States, with the American Community Survey finding that 46% of employees in San Francisco worked from home in 2021, up from 7% in 2019. Under the Housing Element, the state of California is mandating that San Francisco build 82,000 new units of housing, including affordable units meant for low-income residents, by 2031. "The rents that you can get for a life sciences lab space are much higher than office space. The San Francisco mayor said the problem is that it takes a long time to build housing, especially given all the requirements.

Search resuls for: "Mayor London"

25 mentions found