By S-3 Public Affairs
FACT OF THE WEEK
Bisnow reports, “In Los Angeles, WeWork’s more than 12,000 members across 16 locations generate $4.4B in gross domestic product, nearly 1% of the county’s annual output, and contribute a portion of the $93M in personal and business taxes collected in California, according to an economic study released Wednesday.” Recode adds that the coworking company is also increasing its focus on security with a new hire, Cory Louie, who is responsible for “overseeing both digital and physical security for WeWork’s nearly 250,000 members.”
Recode adds, “Part of Louie’s task will be combining and growing both the digital and physical security teams at WeWork, which are currently separate. Rajaraman also confirmed WeWork is exploring providing ‘security as as service,’ meaning it could add custom security features for its fast-growing big-business enterprise customers, who currently make up 23 percent of membership.”
BONUS Mother’s Day Fact: Via the USA Today, “The holiday is the $30.8 billion floral industry’s second busiest, after Valentine’s Day and tied with Christmas. And with the National Retail Federation predicting that Americans will spend $2.6 billion on flowers this Mother’s Day, florists are working overtime and bulking up their staffs to meet the demand.”
IN THE MEDIA
AdWeek reports on the new annual Interactive Advertising Revenue Report, conducted by PwC, that finds digital advertising – specifically mobile video – is now king. AdWeek writes, “digital advertising revenues continued to climb in 2017, rising 21 percent to $88 billion in the U.S.”
“While 2017 was yet again another record year for digital ad revenue, it was also the first time online ad spend surpassed the combined total of TV, broadcast and cable advertising, according to PwC. Much of that growth was driven by mobile, which accounted for $49.9 billion in digital revenue—or around 57 percent of the total for the year. Social media also sped up the pace of its growth, increasing 36 percent to now account for about a quarter of all online ad revenue.
“Banner advertising revenue was up 22.6 percent to $8.4 billion in the fourth quarter, while video increased 31.4 percent year over year to total $3.6 billion. In fact, mobile video finally surpassed desktop video. In 2016, mobile video accounted for $4 billion in revenue while desktop accounted for $4.9 billion. Last year, mobile video grew to $6.2 billion while desktop video grew to just $5.7 billion.”
IN THE ADMINISTRATION
President Trump is expected at the Capitol on Tuesday for the Senate Republican weekly policy lunch. Senate Republican Policy Committee Chairman John Barrasso (R-WY) said of the meeting, “Our conference looks forward to discussing the key accomplishments of tax cuts and historic economic growth here at home, and the opportunity for peace on the Korean Peninsula that lies ahead.”
Additionally, NATO Secretary General Jens Stolenberg is expected to visit President Trump at the White House on Thursday, ahead of the alliance’s annual summit in July.
Trade will also be a big focus this week. Speaker Ryan has also set a deadline of this Friday for completed NAFTA negotiations in order for the House to consider it this year. The Wall Street Journal adds that the USTR is hosting a three-day series of hearings on the proposal tariffs on Chinese products this week.
ON THE HILL
Focus in the House is on the Farm Bill. Majority Leader McCarthy also indicated action on a series of law enforcement related legislation to mark National Police Week. The Senate will continue its work on judicial nominations.
Monday (May 14): Opening of the U.S. Embassy in Jerusalem; Senate vote on the confirmation of Michael Scudder and Amy St. Eve, both to be Circuit Judges for the Seventh Circuit; Administration briefing on the President’s drug pricing program with Health and Human Services Secretary Alex Azar, Centers for Medicare & Medicaid Services Administrator Seema Verma, and FDA Commissioner Scott Gottlieb; National Press Club Headliners Luncheon with Commerce Secretary Wilbur Ross;
Tuesday (May 15): Primary elections in Idaho, Nebraska, Oregon, and Pennsylvania; President Trump to attend the Senate Republican Policy Committee weekly luncheon meeting; Senate Homeland Security and Governmental Affairs Committee hearing on the authorities and resources needed to protect and secure the U.S., with testimony from Department of Homeland Security Secretary Kirstjen Nielsen; Senate Small Business and Entrepreneurship Committee hearing on the state of small business in America, with testimony from Small Business Administration Administrator Linda McMahon; Senate HELP Committee hearing to examine oversight reports on the 340B drug pricing program; Senate Banking Committeeexecutive session and hearing on the nominations of Richard Clarida (to be vice chairman of the Federal Reserve Board of Governors) and Michelle Bowman (to be a member of the Federal Reserve Board); Senate Intelligence Committee hearing on the nomination of William Evanina to be director of the National Counterintelligence and Security Center; Senate Energy and Natural Resources Committee hearing to consider the nomination of Aimee Jorjani to be chair of the Advisory Council on Historic Preservation; Senate Judiciary Committee hearing on protecting and promoting music creation for the 21st century; Senate Commerce Subcommittee hearing on trends in mobile technologies; Senate Foreign Relations Subcommittee hearing on the Asia Reassurance Initiative Act; House Rules Committee hearing on the Agriculture and Nutrition Act, an amendment to the Veterans Cemetery Benefit Correction Act to incorporate the VA Mission Act, and the Protect and Serve Act; House Appropriations Subcommittee markup of the FY2019 interior, environment, and related agencies appropriations bill; Washington Post Live event on healthcare with CMS Administrator Seema Verma;
Wednesday (May 16): Senate Commerce Committee hearing on the nominations of Joseph Gruters (to be director of the Amtrak board of directors), Jennifer Homendy (to be a member of the National Transportation Safety Board), and Heidi King (to be administrator of the National Highway Traffic Safety Administration) and subcommittee hearing to examine administration perspectives on the future of the International Space Station; Senate Foreign Relations Committee business meeting on the nomination of Francis Fannon to be assistant secretary of State for energy resources and hearing on authorizing the use of military force; Senate Judiciary Committee hearing on Cambridge Analytica and the future of data privacy; Senate Indian Affairs Committee business meeting to consider 2 bills and oversight hearing on the safety and security at Bureau of Indian Education schools; House Appropriations Committee markup of the FY2019 energy and water and agriculture, rural development, Food and Drug Administration, and related agencies appropriations bill and subcommittee markup of the FY2019 transportation and housing and urban development, and related agencies appropriations bill; House Oversight and Government Reform Committee hearing on the President’s Management Agenda; House Financial Services Subcommittee hearings on oversight of the SEC’s Division of Enforcement(with testimony from division co-directors Stephanie Avakian and Steven Peiken) and implementation of FinCEN’s customer due diligence rule (with testimony from director Kenneth Blanco); House Energy and Commerce Subcommittee hearings on telecommunications, global competitiveness, and national security and legislation addressing new source review permitting reform; House Rules Committee hearing on amendments to the Agriculture and Nutrition Act; House Homeland Security Committee markup of 9 bills; House Natural Resources Committee markup of 6 bills and subcommittee legislative hearing on the Tribal Jobs Protection and Energy Security Act; House Education and the Workforce Subcommittee hearing to examine proposals to simplify and modernize retirement plan administration; House Veterans’ Affairs Committee member day hearing to receive testimony and proposals on the Department of Veterans Affairs;
Thursday (May 17): Senate Environment and Public Works Committeelegislative hearing on America’s Water Infrastructure Act; House Intelligence Committee hearing on China’s worldwide military expansion; House Foreign Affairs Committee markup of the Intercountry Adoption Information Act, Cambodia Democracy Act, and BURMA Act; House Oversight and Government Reform Committee hearing on revitalizing the office of National Drug Control Policy; House Financial Services Subcommittee hearings on stakeholder perspectives of the community development block grant disaster recovery program and an overview of homelessness in America; House Natural Resources Subcommittee oversight hearing on federal impediments to commerce and innovative injurious species management and legislative hearing on 4 bills; House Homeland Security Subcommittee hearing on assessing the TSA checkpoint, PreCheck program, and airport wait times; House Committee on Education and the Workforce hearing on how schools and states keep data safe; House Science, Space & Technology Committee hearing on America’s human presence in low-Earth orbit; House Small Business Subcommittee hearing on inconsistencies in Defense subcontracting; House Veterans’ Affairs Subcommittee hearings on funding, findings and partnerships in VA research and a review of the VA’s vocational rehabilitation and employment program; House Foreign Affairs Subcommittee hearing on global health supply chain management; POLITICO Morning Money event with House Financial Services Committee Chairman Jeb Hensarling (R-TX);
Friday (May 18): House Energy and Commerce Subcommittee hearings on the Responsible Disposal Reauthorization Act and reauthorization of the West Valley demonstration project and quantum computing.