You know what's funny?
I‘m at about 50/50. If they really think a June 1 opening is possible then they won’t furlough most workers just to save a few weeks of pay. If by mid-April the realization hits that June 1 isn’t happening then it is a lot more likely. So much changes every day. In 2 weeks we will know a lot more.If I were a betting man, I would say they definitely are going to be necessary.
My point is... we already are. The kind of activities going on right now in the financial market are beyond the point of no return. The stuff going on with private businesses are going to have impacts for the next 1-2years at least.If the impact of this virus lasts that long, we will be living in a dramatically different world then we currently do.
Besides looking at what is going on with the virus, I am keeping an eye on what will happen to small businesses within the next month or so. I can imagine a good chunk probably don't have more than a couple weeks of cash on hand. It will be devastating for them and their workers. Many may not come back.My point is... we already are. The kind of activities going on right now in the financial market are beyond the point of no return. The stuff going on with private businesses are going to have impacts for the next 1-2years at least.
At this point it's not a question of 'if' - it's only what state we end up in. A propped up economy with inflation and debt with no plan to unwind.. a nationalized economy.... or civil unrest.
The world has already turned... if you're worried about what date to move your holiday to... you're watching the wrong ball.
Unfortunately, Macy's was having a downturn before the virus. This may be the final nail in the coffin.Macy's announced they will furlough 125K staff members.
IMO, thinking about a vacation is basically the only positive/happy thing to think about right now which is why so many people are focusing on them.The world has already turned... if you're worried about what date to move your holiday to... you're watching the wrong ball.
Restaurants, including some at Disney, will also be adversely affected. There will be many that close and never come back.Besides looking at what is going on with the virus, I am keeping an eye on what will happen to small businesses within the next month or so. I can imagine a good chunk probably don't have more than a couple weeks of cash on hand. It will be devastating for them and their workers. Many may not come back.
How great would it be to pool all this money and GIVE IT TO THE FRONT LINE CASTMEMBERS AT THE PARKS who work like dogs everyday for little pay and who will be on the front lines exposed to the next spike when the parks reopen.....Email from Bob Chapek:
In light of this, we are going to be implementing a variety of necessary measures designed to better position us to weather these extraordinary challenges. Among them, we will be asking our senior executives to help shoulder the burden by taking a reduction in pay – effective April 5, all VPs will have their salaries reduced by 20%, SVPs by 25%, and EVPs and above by 30%. I will be taking a 50% reduction in my salary. This temporary action will remain in effect until we foresee a substantive recovery in our business. Our executive chairman, Bob Iger, has chosen to forgo 100% of his salary.
Shared the relevant part from a letter to CMs a friend posted on FB
Canada just announced a 75% wage subsidy on the first ~$58,000 per employee regardless of the number of employees that the business has on payroll; as long as the business has lost 30% or more of its revenue. I feel like drastic policies like this are the only way to save the smaller businessesBesides looking at what is going on with the virus, I am keeping an eye on what will happen to small businesses within the next month or so. I can imagine a good chunk probably don't have more than a couple weeks of cash on hand. It will be devastating for them and their workers. Many may not come back.
These underlying problems resulting from societies choices over the decades will continue to rear their ugly heads with increasing transparency as this situation moves forward. Many easily ignored them by staying focused on their daily routines and filling the rest of their schedules with entertainment/dining. Now with much of that stripped away, many more are forced to look at the messes that have always been hiding in plain sight.We made the Perkins Thai Noodles from Skipper Canteen last week and it was real hit in our house. My 2-year old devoured hers (and although we didn't put as much Sriracha in hers, it was still spicy...she is definitely my daughter ).
Here's the recipe for anyone who's interested.
My sister is a reading teacher for at-risk kids in a tough neighborhood. She said most of her kids haven't even logged in. She continues to work all day uploading lessons, but these are kids who already weren't getting reinforcement of learning at home. She went back for another master's to become a literacy specialist, but was previously a library media specialist (she's the overachiever of the family) for her K-8 Charter School in an area where 98% of the kids live below the poverty line. When she ran book fairs as the librarian, a vast majority of the kids couldn't afford books, and didn't have a single book at home. My sister would ask family and friends for donations so that she could buy books for the kids, which the kids would "win" so that they didn't feel as if they were given the books from charity.
Although I agree 100% with keeping kids home, it's just such a tragedy for kids like my sister's students, who are likely not getting ANY sort of educational value at all while they're at home, and so many were already far behind
Difference is... people goto work because they NEED resources to stay alive. Not go somewhere, spend 5-10% of their income, and also risk that... while not knowing what the future holds for them.The same can be said going to any job on June 1. Someone in your office could infect everyone and they go out to dinner someplace and infect others. There is no perfect safe place. Even with a vaccine there will be people who don’t get it. I think Disney will reopen June 1.
Exactly. Without herd immunity or a vaccine and 99% of the population still susceptible, you can't just lift social distancing in the summer and go back to normal. You have to go slowly. It was just one person in China who started all this.You guys do realize how exponential functions work? If Disney opened June 1, there are still going to be coronavirus cases out there albeit far less than there are now but with 99% of our population still susceptible (Dr. Fauchi stated they think they can keep it under 1% of Americans getting infected which is ~3,300,000 people) that if one infected person goes to WDW on June 1 this whole thing will start over again.
We may be able to have gatherings of 50 or maybe even 250 people after June 1 but it will be many more months before places like Disney can open. Mark my words. Safety is their number one key of the four keys.
Have any other huge companies reduced salaries yet? I've heard of it from some medium and small size retailers and stuff as well as big sports teams in Europe but cant think of anyone else. Although Disney is in a precarious situation considering their portfolio...