Date: 2024-12-21 Page is: DBtxt003.php txt00019282
Media / News
Morning Report
Morning Report ... THE BUSINESS ADVANTAGE TV
Peter Burgess
Morning Report morningreport@businessadvantagetv.com via infusionmail.com
9:08 AM (15 minutes ago) to me
image The Steepest Contraction Ever Recorded. The Risk of a Downward Spiral. And One Last Message from a Leader image
LITIGATION
Families are filing the first wave of Covid-19 lawsuits against employers: “In responding to the lawsuits, employers have said they took steps to combat the virus, including screening workers for signs of illness, requiring they wear masks, sanitizing workspaces and limiting the number of customers inside stores. Some point out that it is impossible to know where or how their workers contracted Covid-19, particularly as it spreads more widely across the country. The new coronavirus has created a global health and economic crisis, responsible for the death of more than 150,000 people in the U.S. while straining resources and institutions. The cases are part of an unfolding liability threat facing U.S. companies of all industries as many resume operations after having employees work remotely or being shut down altogether for months.”
“Employers rarely are found liable for employee deaths tied to the workplace. That’s because the legal bar for proving fault is high, and because states often restrict such complaints to their workers’ compensation systems, which typically limit payouts to a portion of a worker’s salary, coverage of their medical bills and disability compensation.” “Early lawsuits on behalf of sickened workers center on whether employers adhered to state and federal guidelines for reducing the spread of the virus, which evolved rapidly in March and April, especially on mask use, and at times conflicted with each other.” READ MORE
HUMAN RESOURCES
Farm workers face retaliation for demanding safety: “Ernestina Mejía knew people were getting sick all around her this spring. She heard co-workers coughing in the bathroom at work. Others whispered about colleagues looking feverish. Mejía wasn’t surprised. She works at Primex Farms, a dried fruit and nut producer based in Wasco, California, about 130 miles north of Los Angeles. Mejía, who moved to the US from Mexico a decade ago, sorted pistachios indoors on an assembly line, working in close proximity to others. Primex offered them no masks, no gloves and no protection against the coronavirus, she said. Then, in mid-June, Mejía fell ill. ‘I started feeling shivers and a terrible cough that wouldn’t let me sleep,’ she said in Spanish.”
“Horrified at the outbreak, Mejía and other Primex employees took part in a one-day strike in late June to protest what they viewed as their employer’s failure to protect them. They also demanded an investigation by the state’s attorney general.”
“Their situation highlights the tightrope farmworkers must walk to protect their health and jobs while avoiding retaliation from their employers. Within weeks, at least 40 Primex workers, many of whom were active in the strike, were terminated, former workers told The World. Others said they feared the same fate if they spoke up.” READ MORE
THE ECONOMY
The economy contracted at the fastest quarterly rate on record: “The Commerce Department said U.S. gross domestic product—the value of all goods and services produced across the economy—fell at a seasonally and inflation adjusted 32.9 percent annual rate in the second quarter, or a 9.5 percent drop compared with the prior quarter. The figures were the steepest declines in more than 70 years of record-keeping. Meanwhile, the Labor Department’s latest figures on unemployment benefits suggested the jobs market was faltering.”
“The number of workers applying for initial unemployment benefits rose for the second straight week—by a seasonally adjusted 12,000 to 1.43 million in the week ended July 25—after nearly four months of decreases following a late-March peak.”
“The number of people receiving unemployment benefits increased by 867,000 to 17 million in the week ended July 18, ending a downward trend that started in mid-May.” READ MORE
Mortgage rates have fallen below 3 percent: “According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average slipped to 2.99 percent with an average 0.8 point. (Points are fees paid to a lender equal to 1 percent of the loan amount and are in addition to the interest rate.) It was 3.01 percent a week ago and 3.75 percent a year ago. It is just the second time the 30-year fixed rate has fallen below 3 percent. It was 2.98 percent two weeks ago.” READ MORE
Economists say Congress needs to act or the damage could be permanent: “The risk is growing that the economy is going to backslide, a painful scenario where workers who regained jobs in May and June lose them again, and businesses that had started to reopen are forced to shutter, possibly forever. It’s already happening in parts of the country that are seeing a spike in corona virus cases. Once the downward spiral starts — more job losses leading to less consumer spending leading to more business closures leading to more job losses — it can lead to an even deeper downturn that permanently damages the economy for years to come. Economists say the United States is not spiraling yet, but the nation is at an inflection point.”
“Right-leaning economists said Congress should focus on ways to make the nation safer, including at schools and workplaces, so people can resume more daily activities. Now is not the time to worry about the debt, they say.”
“‘This recession was a huge consumption shock. Health care, food, transportation, all those things collapsed,’ said Doug Holtz-Eakin, a former economic adviser to George W. Bush and John McCain. ‘We have to do things to ensure people’s safety and make them feel confident to go back out. Spend what you need to do it.’” READ MORE
BUSINESSADVANTAGE TV
This week’s featured video: Marsha Friedman talks about using public relations to build your business. WATCH HERE
OBITUARY
On the day John Lewis was laid to rest, The New York Times published his last words, a final example of leadership: “Though I may not be here with you, I urge you to answer the highest calling of your heart and stand up for what you truly believe. In my life I have done all I can to demonstrate that the way of peace, the way of love and nonviolence is the more excellent way. Now it is your turn to let freedom ring. When historians pick up their pens to write the story of the 21st century, let them say that it was your generation who laid down the heavy burdens of hate at last and that peace finally triumphed over violence, aggression and war. So I say to you, walk with the wind, brothers and sisters, and let the spirit of peace and the power of everlasting love be your guide.” READ MORE
THE BUSINESS ADVANTAGE TV PODCAST
Episode 27: My Jay Goltz Face: Paul Downs, Jay Goltz, and Dana White talk about how they would know if it were time to close their business, how long it takes to really grow up as a manager, what they’ve learned about managing—and occasionally firing—employees. “I think my staff hears me but eventually does what they want to do,” says Dana. “And that can be very draining because you wonder, ‘Well, why? I pay you. We’ve had training on it and talked about it.’” And Paul tells us that while he’s normally a pretty nice guy, he does have to put on his “Jay Goltz face” occasionally. “So what does that mean exactly?” asks Jay. “I’d like to understand.”
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THE MORNING REPORT AUDIO
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