The toilet paper industry is segmented into manufacturing for residential and commercial use, and the difficulty in altering that balance is why finding toilet paper is difficult, rather than a surge in hoarding, argues Will Oremus. "Shifting to retail channels would require new relationships and contracts between suppliers, distributors, and stores; different formats for packaging and shipping; new trucking routes -- all for a bulky product with lean profit margins," he writes.
Data from the Bureau of Labor Statistics shows a loss of 701,000 jobs in March, driving the unemployment rate to 4.4%. Barclay's US chief economist, Michael Gapen, predicts April will show more losses and that the unemployment rate could be more than 10%.
The February unemployment rate was 3.5%, the lowest in 50 years, but is expected to reach 10% in the second quarter, according to the Congressional Budget Office on Thursday. "What usually takes months or quarters to happen in a recession is happening in a matter of weeks," said Michelle Meyer, chief U.S. economist for Bank of America Merrill Lynch.
Choose a popular video conferencing tool to get started with livestreaming, and use paid versions, says communications expert Jennifer Jacobson. Place the camera at eye level in a quiet place, use a script, and cater to your audience, Jacsobson suggests.
Before applying for loans, business owners need to know their credit scores, the loan amount and how they'll use the money, writes Lindsay Mueller of Women's Business Development Center in Chicago. Companies should also gather documents demonstrating their capabilities, Mueller notes.
Business leaders must prepare for the worst-case scenario in response to the coronavirus pandemic if they hope to come out stronger than before, states Marco Tronchetti Provera, CEO of the Pirelli tire company. Pirelli sped up initiatives it had been working on, such as digitizing internal communications, and began using digital training methods more broadly in response to the pandemic.
GivingTuesday will hold a special day of giving known as #GivingTuesdayNow on May 5 to raise money for organizations around the world coping with the coronavirus pandemic. "We each have the power to make an impact with acts of generosity, no matter how small, and to ensure the sustainability of organizations and services that are crucial to the care and support of our communities," says CEO Asha Curran.
Why it matters: If you're one of the millions of people who have seen their flights canceled due to the coronavirus pandemic, you should know that getting a refund is an option. Many airlines are trying to hang onto cash, so they are steering displaced passengers into credits for future flights. US airlines have now been ordered to issue full refunds to passengers who request them.
WYWW reader Peter Edmondson recounts two of Michael Jordan's most iconic shots -- one of which broke the heart of the Utah Jazz fan.
If you have some spare time this weekend and don't want to organize the garage, pull weeds, deep clean the kitchen, etc., write to me about your favorite sports moment.
Stay safe out there, y'all.
-- Doug Harris
When team members are coached to do their best, are invested in success and are inspired by a vision larger than themselves, they are more likely to succeed, writes Mark Miller, author of "Win Every Day." "Lofty goals inspire; unachievable expectations discourage, deflate and lead to disengagement," Miller writes.
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