Frank Holmes on Bloomberg March 2020

Today is “reopening” day for Texas, home state of U.S. Global Investors. Restaurants, retail stores and malls can now open their doors to customers again, so long as occupancy is kept at 25 percent of what it normally would be. In metropolitan areas such as San Antonio, social distancing and masks are still required in public places.

If everything works out well and we don’t see a massive spike in new COVID-19 cases, then bars, salons, barbershops, gyms and more could be next to reopen later this month.

This is all very positive for the state and local economies, especially San Antonio’s. Hundreds of thousands of people work in the city’s important travel and hospitality industry, which contributes some $15 billion to the San Antonio economy every year. Many of you reading this may have visited the River City to stroll down the beautiful River Walk, take in the historic San Antonio Missions—named a UNESCO World Heritage site—or enjoy the Battle of Flowers Parade during Fiesta.

And for those who haven’t yet, I highly recommend you make it a point to visit San Antonio—once you feel that it’s safe, of course.

Coincidentally, the Transportation Security Administration (TSA) reported a big jump in the number of daily commercial air passengers this week. From April 29 to 30, the number of people the agency screened in the U.S. rose by 35,000, or 30 percent, to 154,695 people. That’s still 2.3 million below where we were a year earlier, but I see the increase as an encouraging sign that we’re past the bottom.

number of daily U.S. commercial air passengers jumped at the end of April
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The experience of commercial air travel has not returned to “normal,” of course. Most major airlines, including American, Delta and United, now require masks be worn, even though the average number of passengers on domestic flights stands at only 17.