WHAT YOU NEED TO KNOW
A bout of volatility contributed to U.S. stock futures wavering Tuesday as investors contend with the dwindling chances that lawmakers agree on a second round of economic relief before the November election. As cases surge in Europe, confidence fades in the world’s economic recovery.
A $1 billion fund Congress gave the Pentagon in March to build up the country’s supplies of medical equipment was found to have been funneled to defense contracts and used for making things like jet engine parts, body armor and dress uniforms. The tax-payer backed effort to battle coronavirus – The Cares Act, which Congress passed earlier this year – was diverted toward patching up “long-standing perceived gaps in military supplies.”
The House passed a resolution to denounce the racism toward Asian Americans that has risen as a result of COVID-19. The measure demands the condemnation of all forms of racism and scapegoating, and while it won heavy Democratic support, it also got some Republican backing. Though the resolution is nonbinding, House Democrats said they hoped it would show support for the community and send a message that such bigotry is not tolerated.
A Pew Research poll published in July found about four-in-ten Black and Asian adults say people have acted uncomfortable around them because of their race or ethnicity since the beginning of the coronavirus outbreak.
Rural hospitals have expressed concern as COVID-19 Medicare loans come due during a time when the institutions are still struggling. A full repayment of a hospital’s loan is due 120 days after it was received and according to the loan’s terms, federal regulators will stop reimbursing hospitals for Medicare patients’ treatments until the loan is repaid in full. When the pandemic hit, more than 65% of the nation’s small, rural hospitals, many of which were already operating at a deficit, jumped at the Medicare loans.
Though hospitals now benefit from improvements, like better supply chains for personal protective equipment, rural hospitals still tend to have less intensive care unit capacity, which is critical as coronavirus cases trend upwards. Advances in the ICU are shown to save more patients who have COVID-19, though those treated in the ICU are also at higher risk of death.
In the U.S., the pandemic is threatening to upend years of economic gains for women. Globally, women earn some 77 cents for every dollar a man makes for the same job, a figure which does not reflect the regional barriers that women often face in their quest for paid work, training, and access to credit or other investment. Women overall stand to lose more than $400,000 over a 40-year career and women of color stand to lose more than a million dollars. Due to coronavirus, women have also been disproportionately affected by furloughs and unemployment, largely because so many hold jobs in industries that have shrunk. New data from the U.S. Census Bureau shows that between 2018 and 2019, no progress was made on closing the overall wage gender gap.
Cities are struggling to keep up with residential trash volume amid the pandemic. From empty pizza boxes to Amazon cartons, household trash cans are overflowing. Trash volume spiked as much as 25% this spring but has shrunk a bit since then. Garbage collectors say more people at home means more trash, which for them, means longer workdays and more trips to the dump.
NAVIGATING THE PANDEMIC
Horseshoe crabs have a vital role in the development of a coronavirus vaccine. Here’s why. – USA TODAY – 9/22/2020
Simply put, it works like this: A mixture of lysate is first made from the horseshoe crab’s amebocyte or blood cells. Next, that fluid is added to whatever material a researcher is testing for safety. Depending on the test, the fluid will either clot or change color to signal the presence of a dangerous toxin.
This is how the global economy will recover from COVID-19, according to CEO’s – World Economic Forum – 9/22/2020
In the U.S. and Japan, 23% of CEOs expect a second contraction to occur, meaning that economic activity could undergo a W-shape recovery. Both countries have experienced quite the hit, but there are stark differences in their resultant unemployment rates—15% at its peak in the U.S., but a mere 2.6% in Japan.
3 lessons you didn’t know you learned from the tech you’ve been using to work from home – Fast Company – 9/22/2020
The technologies that we’ve all come to rely on have so seamlessly infiltrated our lives that it’s easy to overlook their impact. But when you consider the repercussions of remote working, you’ll see that these platforms have taught us more than just how to use them. They’ve made us better leaders, collaborators, employees, and employers.
Did the pandemic put an end to small talk? – Mic – 9/22/2020
“COVID-19 has changed the way that we communicate forever,” says Tasha Seiter, a Colorado-based psychotherapist who specializes in helping people with their relationship communication skills. “Just going through this experience, we are more aware of how vulnerable our ‘normal’ is. We can’t go back to taking each other for granted again after such a profound shift in the way we think about things and the way we treat each other.”
‘Doubling down’: Inside the 49ers social and digital rush to replace lost in-stadium marketing dollars – Digiday – 9/21/2020
“It’s a huge hit not to be able to have local revenue, which primarily is driven through ticket sales, concessions, some merchandise and local partnerships,” said Alex Chang, CMO of the 49ers. “There are some things we’re trying to do to close the gap but we probably never will. What we’re more focused on from a marketing standpoint is doubling down on social and digital as a way to engage fans.”
WHAT INFLUENCERS ARE SAYING
Dallas Morning News @dallasnews 21 Sep 1/ Six months after #COVID19 was declared a pandemic by the @WHO, coronavirus has had a devastating impact on retailers.20,000 stores are expected to shutter this year – 60% of those are in malls.
Retail Week @RetailWeek 21 Sep Analysis: Can retail survive a second national coronavirus lockdown?
KHOU 11 News Houston @KHOU 21 Sep Texas restaurants, stores, offices and gyms can now open to 75% capacity #KHOU
Kearney @kearney 21 Sep For #retailers, this holiday shopping season will be like no other. Our partner Michael Brown predicts that holiday sales will need to start “as early as October for retailers to have enough selling days in restricted occupancy stores.” More
KRON4 News @kron4news 21 Sep PERMANENT SHUTDOWN: California is likely to permanently lose half of its nearly 40,000 closed storefronts.
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