May 15, 2020
The Federal Reserve’s support, as well as $3 trillion in Treasury stimulus, may not be enough to compensate for soaring unemployment, a wave of bankruptcies and no end in sight to the pandemic.
According to the latest figures, those displaced are still not being brought back to work under a freeze that was supposed to last weeks but now has extended for nearly two months.
Of the 125 restaurant or retail companies tracked by S&P Global Ratings, about 30% now have a credit rating that indicates they have at least a 1-in-2 chance of defaulting on their debts, which is often a precursor of bankruptcy or liquidation.
Forced into record spending by the threat of another Great Depression, policy makers are blurring the lines between borrowing the money they need and simply creating it.
That would mean an additional 250,000 or so people would be without permanent shelter compared with the 568,000 who were homeless in January 2019
“…a sector that has collapsed so fast that sales over the past 12 months are down a crippling 21.6%. The severity of the decline is unrivaled for retail figures that date back to 1992.”
“…producers fell victim to supply-chain disruptions, a severe weakening in exports market and a drop in domestic demand.”
In all, 75% believe sharing their sleep space results in poorer sleep quality, and 25% said that sleep has become even harder to attain since the coronavirus arrived on the scene.
What you do, how much tech prowess you have to help survive these months of sheltering in place, whether or not you can be home, and other factors are changing people’s status in the eyes of society.
JCPenney said the bonuses were part of a compensation plan approved by the company’s board, under which CEO Jill Soltau was paid $4.5 million. Meanwhile, chief financial officer Bill Wafford, chief merchant Michelle Wlazlo and chief human resources officer Brynn L. Evanson each received $1 million.
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