ESPN Layoffs and cutting employment

ESPN announced Friday that it had laid off some broadcast journalists in hopes of saving money. ESPN said in a statement that it needed to cut costs “in the area of public-facing commentator salaries,” including “a small group of job cuts in the short term.” The layoffs included some of the network’s biggest names. Suzy Kolber also acknowledged in a Twitter post on Friday afternoon that she had…

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Nasdaq, S&P Futures Show Indecision Ahead Of Jobs Data — AMD, Peers, Credit Suisse, Cannabis Stocks In Focus

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Nasdaq, S&P Futures Show Indecision Ahead Of Jobs Data — AMD, Peers, Credit Suisse, Cannabis Stocks In Focus

U.S. stocks are poised to open mixed on Friday, although sentiment could change markedly following the release of the September jobs report. Tech stocks could underperform in the session, weighed down by a couple of high-profile tech warnings.

On Thursday, the major U.S. averages opened lower but managed to fight back and turn positive in early trading. The modicum of strength seen in early trading may have been inspired by the weekly jobless claims report, which showed a bigger-than-expected increase in individuals filing for unemployment benefits.

Fresh selling set in, dragging the market lower immediately. The indices languished in negative territory for the rest of the session.

All sector indices, with the exception of energy stocks, closed lower in the session, with real estate, utility and IT services stocks coming in for particular punishment.

U.S. Indices’ Performance On Thursday Index Performance (+/-)   Value Nasdaq Composite -0.68%   11,073.31 S&P 500 Index -1.02%   3,744.52 Dow Industrials -1.15%   29,926.94

If the jobs data comes in below the consensus, “Fed pivot trade could go into overdrive,” Scott Minerd, Guggenheim Partners‘ global chief investment officer, said in a tweet.

Here’s a peek into index futures trading:

U.S. Futures’ Performance On Friday During Premarket Session Index Performance (+/-)   Nasdaq 100 Futures -0.43%   S&P 500 Futures -0.12%   Dow Futures +0.07%   R2K Futures +0.05%  

In premarket trading on Friday, the SPDR S&P 500 ETF Trust(NYSE:SPY) slipped 0.08% to $372.91, while Invesco QQQ Trust (NASDAQ:QQQ) declined 0.34 to $278.80, according to Benzinga Pro data.

On the economic front, the U.S. Labor Department is scheduled to release its non-farm payrolls report for September at 8:30 a.m. EDT. Economists, on average, expect the economy to have added 250,000 jobs during the month after payrolls expanded 315,000 in July.

The jobless rate is expected to stay put at 3.70% and the average hourly earnings, a measure of inflation, is likely to have increased at a 0.3% month-over-month rate, the same pace as in the previous month. The year-over-year growth is expected to tick down from 5.2% to 5.1%.

Federal Open Market Committee member and New York Fed President John Williams is due to speak and participate in a moderated Q&A session at 10 a.m. EDT.

See Also: NYSE Just Had 2 Straight 90% Up Days In A Row. The Last Time That Happened In 2013, Here’s What Came Next

Stocks In Focus:

Advanced Micro Devices Inc. (NASDAQ:AMD) plunged in the premarket after the chipmaker warned of a revenue shortfall in the third quarter, citing slower PC demand. Rival Intel Corporation (NASDAQ:INTC) and Nvidia Corporation (NASDAQ:NVDA) were all moving lower. Samsung said on Friday operating profit will likely drop quarter-over-quarter, the first decline in about three years.

Cannabis stocks are carrying on the momentum from the previous session when they rallied after President Joe Biden said he would pardon all previous federal offenses for simple marijuana possession. Tilray Inc. (NASDAQ:TLRY) rose over 10% and Canopy Growth Corporation (NASDAQ:CGC) gained close to 9%. Tilray is also scheduled to release its quarterly report on Friday.

DraftKings Inc. (NASDAQ:DKNG) shares spiked about 8% on reports of a potential partnership with Walt Disney Company‘s (NYSE:DIS) ESPN.

Tesla Inc. (NASDAQ:TSLA) and Twitter Inc. (NYSE:TWTR) could move on incremental updates on the proposed M&A transaction.

Credit Suisse Group AG (NYSE:CS) rallied after reports said the company was planning to buy back $3 billion of its debt as part of its plans to streamline following questions about its financial health.

Commodities, Global Equity Markets: Crude oil futures are higher for a fifth straight session amid the recent OPEC+ production cut. A barrel of West Texas Intermediate grade crude oil rose close to 1% and approached the $90 psychological resistance.

Asian stocks closed Friday’s session mostly lower, dragged by the uninspiring lead from Wall Street overnight and apprehensions ahead of the U.S. employment report. The South Korean, Malaysian, Hong Kong and Japanese markets were among the worst decliners.

The European markets opened lower and saw volatility in early trading, as traders preferred to wait and watch ahead of the U.S. jobs data.

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In the Showtime Original Series “Billions”, the lead Character Bobby Axelrod who is a pedal to the metal Billionaire CEO of Axe Capital, a hedge fund company, gets notified that his bid for a NFL team has been denied. Sanford Bessinger, a character that convinces the wealthy to give away a sizeable portion of their wealth to charity delivers this news to Axlerod once he finds that Axe was secretly having photos taken of their meeting to clean up his image to enhance his bid. “…Sports franchises are how we knight people in this country ...”, “…and you’re not royalty, you’re a robber baron”, says Bessinger before he hangs up the phone on Axlerod.

This scene is an alarming reminder of what Professional Sports is about at its core. It’s not about “hometown pride” or building manhood/womanhood or teamwork. It’s a Billionaires “pickup game”, modern day gladiator, etc. It’s a display of wealth and status in the Western world. And ownership of sports teams is a good barometer of the level of cache’ a group has in America. With this in mind, it’s important to not get wrapped up in the sports world to the detriment of our own wealth and progress. It’s been noted that since the financial crisis of 2009, Sports Media outlets like ESPN, have increased the number of Black sports commentators to their daytime programming. Many believe this is due to the rise in unemployment rate amongst black men since that time. In 2007 the unemployment rate amongst black people began to increase at a much higher rate than the rest of Americans which peaked in 2010 at ~16 %. It’s no secret that we dominate all of the major sports, especially if you include the large Afro-Latino presence in Major League Baseball. And in spite of this presence, we control roughly 0% of the ownership.

Pro Football Hall of Fame LB Ray Lewis describes football as a game that people watch to relieve the stresses of the world as he critiques Colin Kaepernick’s method of protesting injustices against black people in America. Fellow Hall of Famer Chris Carter in a recent episode of Fox Sport’s “First Things First”, passionately expresses how Football saved his life. I’m pretty sure many pro football athletes agree with these two Gentlemen, but one has to ask if this is a healthy relationship to have with sports? Have black people relegated theirselves to being the entertainment of modern rich “noble” men at the expense of our own nobility? There are plenty of examples where members of other cultures have experienced increased access to material wealth and have leveraged that access to enrich their people as a whole. Are we in danger of Missing our opportunity to capitalize off of the access to monetary wealth from individuals in our community to Benefit the whole? Should we even be participating in institutions that we do not control a significant stake in them? The bottom line is that all evidence from our experience in this country points to the fact that we will never be made “knight” by the contemporary American society, which traditionally will only allow black people to participate as the entertainers and employees, and not as power players in any significant capacity. This is the consequence of a policy of the so-called black leadership in the United States and other western nations fighting for equality instead of focusing on self-empowerment so we can “knight” ourselves and be power players in our community.-HAR

LOOK MAN, THEY’RE TRYING: SPORTS AND ENTERTAINMENT IN A PANDEMIC

LOOK MAN, THEY’RE TRYING: SPORTS AND ENTERTAINMENT IN A PANDEMIC

This quarantine have been a difficult and trying time for everyone. Unemployment is at an all time high and public morale is at an all time low.

With one of the world’s most beloved past times essentially non-existent, what is the world to do? Of course I am talking about sports. COVID-19 have left the basketball season in suspense and left this year’s olympics erased from history.

It poses the question, how do people who spend their livelihoods talking about Sports continue to thrive when there are no sports?

The sights have been kinda crazy to see. Have you seen ESPN’s instaposts? They’re literally coming up with anything! However, it made me think man at least they’re trying. They’re trying to deliver content to their audience, fulfill contractual obligations, doing everything that come with running a media conglomerate in the midst of the pandemic.

The saving grace for sports has indeed been ESPN’s The Last Dance informally known as the “Jordan Doc”. A sports documentary that chronicles Michael Jordan and the Chicago Bulls, last championship run.

This excellent documentary helped reignite Jordan’s legacy as PLAYER and gave sports content driven companies legitimate content  for the next five weeks or so.

With the NBA set to return at the end of July, it makes me wonder will the sports world finally have something to look forward to or we will keep creating impossible hypotheticals?

Anyone who’s been affected by this virus (in reality all of us has), have to come up with a ways to keep the job going even when it’s seemingly no job.

Musicians must utilize livestream features to substitute the lack of concerts, visual artists must use their creative wit to get people to spend money they might not have. It is a trying time for everyone and people can’t be judged for at least trying to ease the blow even if its only a little.

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Quarantine Q&A

I was tagged by my girl @anotherunreadblog

Are you staying home from work/school?

Yes, I am. I work at a dinner theatre (the longest running dinner theatre in the country), and they had to shut down since the Governor of Minnesota issued the first “No big groups of over 250 people” statement. So, I’ve been filing for unemployment since they closed.

If you’re staying home, who’s with you?

My parents, youngest sister, and our dog, Hank. My middle sister is in her senior year at college, but she lives off campus so she’s able to still stay at her place. She’s home right now because of Easter, but she’ll be going back up at the end of the week.

Are you a homebody?

Kind of. I do love being at home, but I miss being able to see my friends and going out to do fun things with them. I’ve been going a little stir-crazy.

What movies have you watched recently?

Okay, let’s see... um, I saw Once Upon a Time in Hollywood for the first time. There’s also Pride and Prejudice, Napoleon Dynamite, Little Woman, Jurassic Park, Incredibles 2, Lilo and Stich, Airplane! Um, I think that might be it...

Shows?

I’ve been rewatching a lot of shows, so The Bold Type, New Girl, Brooklyn 99, The Mentalist. My family has also been watching ESPN’s 30 for 30, and we also have watched a few episodes of Jack Ryan.

An event that was cancelled that you were looking forward to?

Right before social distancing started in Minnesota, my mom and I were supposed to go see Twelfth Night together. I was so upset when they cancelled the show in the beginning, but I’m over it now. We were also supposed to see Emma (not the movie, a play version) as well as Caberet, but that’s cancelled too.

What music are you listening to?

Mostly whatever’s playing on my dad’s playlist when the family’s together. When it’s just me, I’ve been listening to some Train, some Cheetah Girls (my sister and I watched the second movie on Sunday), Taylor Swift, Dixie Chicks (my QUEENS), Niall Horan, and Harry Styles.

What are you reading?

Right now, I’m reading Pride and Prejudice. Last year, I watched the Jane Austen Book Club, and I got inspired to read all of Jane Austen’s books. I was going to do the same order that they did in the movie, and I had read Emma first. But, I didn’t finish Mansfield Park when I had checked it out of the library. So, I decided to skip ahead to Pride and Prejudice, and when I finish, I’ll read Sense and Sensibility next (because it’s the only other Jane Austen book that I have).

What are you doing for self care?

I managed to clean out my closet, and I cleaned out some old magazines that were in my nightstand. My mom and I have been trying to walk whenever the weather is nice. My family has also been playing a lot of card games together, which is nice.

Tagging: @peterparcour, @hopemikaelsvns, @prophecy-grrl, @seize-the-droid, @droo216, @musiciatee, @emiliachrstine, @witchofinterest, @perfectlystiles, @ocfairygodmother

Duty Now For The Future (part six)

Small and mobile

There’s a Venn diagram to be made of the overlap among --

The tiny house community

The nomad community

Homeless people living in cars

These are all reactions to a capitalism driven consumer economy:   Buy real estate!  Build big house!  Fill them full of stuff!  Buy more real estate!  Build bigger house!  Buy more stuff! (Go deeply into debt paying us high interest rates on the inflated prices of your purchases.)

Somewhere in that diagram -- more to the tiny house side of the equation -- sit those who make a conscious choice of “Hold!  Enough!” and take steps to reduce their footprint and baggage.

At the other end, people forced out of homes and apartments desperately trying to keep their lives together long enough to get a roof over their heads.

In the middle (and I think this is a huge overlap in the nomad community) are those who, faced with the prospect of losing their permanent residence, tell others (and let’s be honest, themselves) that they voluntarily made the choice to take up the nomad lifestyle.

Now there’s a fourth overlap to add to the diagram:

People who won’t / can’t afford to travel abroad.

Soon-ok and I are extremely fortunate that we got to take some trips to Europe over the last decade or so, as well as going together to Korea, plus a few trips to Hawaii.

We are -- and will remain -- extremely leery of traveling anywhere by air in the future (by train or bus, too).

Unless and until there’s a vaccine, we’re a little leery of cramming ourselves into a metal tube with strangers for hours on end, then traveling to crowded tourist spots.

Even before the coronavirus we’d discussed when we should stop traveling by air for our trips and start traveling by car or train.

We enjoy Canada and would be delighted to return there, and the US still offers many under visited regions and attractions we’d love to see.

With tourism and airline travel taking a massive hit -- one from which they will not speedily recover due to lack of consumer confidence and high unemployment -- more Americans will opt for domestic travel and trips, driving their own vehicles.

Vans and SUVs will remain a favored vehicle since they can be easily converted or adapted to self-sufficient long distance traveling and tourism.

Campgrounds and trailer / RV parks already exist; the large amount of underused / abandoned shopping mall space offers opportunities to provide similar services for small scale urban travelers who don’t want to sleep out in the wild under the stars but in the comfort and safety of their own van, on a parking lot patrolled and maintained well enough to be safe.

This is good news for the domestic auto industry and the various companies that support it.

It will also put enormous pressure on bringing the price of self-driving vehicles down low.  Insurance companies will offer lower premiums to folks and families who let the car do the driving, and that, coupled with the appeal of just being able to sit back and enjoy the scenery / watch a video / read a book / take a nap / get ring-tailed drunk, will push that market forward.

Eventually we’ll reach a tipping point where a lot of people and their families will see more sense and cents in living in a vehicle than owning a home, and then real estate will take another tumble.  (What about the children, you ask?  Remote learning; the Australians have been doing it successfully in the outback for generations).

It’s not for everybody, but it’s sure gonna be for a lot of people.

. . .

Sports are broken and need to get fixed

Captain Lou Albano, when asked if professional wrestling was fixed, famously answered, “It wasn’t broken.”

Sports now are broken.

(I want to differentiate between sports in the forms of athletics, as in team sports for students, neighborhood bowling leagues, city marathons, etc., and sports as a business where personalities and icons are marketed to fans and the revenues derive less from the gate and more from advertising and merchandising incomes; we’ll be discussing primarily the latter here.)

I’m surprised that with all the numerous sports games and simulations out there, ESPN or some other entity failed to see the potential of wholly digital sports, pitting classic era teams against one another in a competition decided purely by AI.

Seriously, for the average fan sitting in front of their TV at home, what separates a digital team from a real team?

The personalities?

Okay, fine, you can recruit and groom real life personalities for the fans to idolize, but then you can stage everything else safely (and less expensively) in the digital realm.

Don’t raise your eyebrow at me; this is essentially what professional wrestling does.

People really interested in sports for the grace and skill watch amateur competitions as well as professional ones.

Fans interested only in proving their tribe is superior to other tribes, not so much.

You can still keep national / regional / state / city chauvinism going through digital imagery.

Of course, it will be argued that the opportunities for fixing such an event are rampant.

So?

The chauvinist fans just want to win, they don’t care how.  

The Boston fans can view a streaming channel where their teams wins the playoffs all the time; the New York fans get their channel where they win, etc., etc., and of course, etc.

Amateur athletics will reman unfixed, of course (well, officially unfixed).  People will watch those because (a) children or relatives are playing or (b) they play themselves.

The (b) group will watch televized tennis and golf because those are sports they enjoy and they hope to pick up pointers.

The (a) group will go to games and meets because that’s what family does.

(By the way, expect track and field, golf, tennis, volleyball, and related sports to rise in popularity among students and other amateurs; they allow play while social distancing.)

. . .

Capitalism is fixed and needs to be broken

Capitalism works when it’s kept on a leash with a muzzle and we pick up after it when it poops on people’s lawns.

What we face now is rabid coyote capitalism.

A big hunk of the problem will be self correction as major corporations will face a rapidly changing future and divest themselves of everything they consider marginal.

That’s gonna be a lot of stuff.

Dominos falling now will topple other dominos we can only guess at, but rest assured, corporations do not flourish when dominos topple.

Another part will be the realization that despite almost a century of lies by the 1% and their alt-right / cryptofascist stooges, less government is not better government.

For all the claims that a free market economy could respond more nimbly to changing circumstances, we now face a brutal pandemic that could have been blunted and was blunted by nations with a better handle on their economies.

The response to the COVID-19 pandemic couldn’t be effectively mounted by a market based system for the brutally simple reason that there was no market for such a response before the pandemic occurred.

That’s the job of a government; to look ahead and anticipate and plan and prepare and at least have some coherent response to any number of threats that might suddenly arise.

In the past we had national governmental agencies that tracked pandemics and the spread of disease so as to minimize both their loss of life and the impact on the economy.

For all his sins and shortcomings, George W. Bush and his administration realize the threat pandemics posed and took great strides to organize America’s response so them should they occur.  Barack Obama built on that, organizing it even better, learning from mistakes made in earlier pandemics to make the response to the next one more efficient.

Donald Trump tore all that down in a fit of pique in order to pass the savings along to his billionaire donors.

It’s as if he closed down the fire department and then, when a five-alarm blaze broke out, asked his cronies to start designing smoke alarms.

A rising tide lifts all boats, but it drowns those who can’t get in one.

The other side of the COVID-19 pandemic will want a return to “normal” not “greatness”.

There is, of course, no genuine “normal” to return to.

What we can do is progress, move forward, make the next model of American society better.

A lot of people -- old white people, primarily -- aren’t going to like that.

COVID-19 may be trying to tell ya sumthin’, folks…

 ”I was born by a river, oh man, in this little old tent, oh Just like this river, I've been running ever since It's been a long, long time coming But I know, but I know, a change is gotta come Ooo yes it is” -- Otis Redding

 © Buzz Dixon

Well, I emailed the Georgia Department of Labor.

Then I texted my brother because I feel bad about even fucking ASKING about maybe qualifying for unemployment.  My brother, of course, was very “Sweetheart, no.  You deserve it too.”

My brother just got his job in December, I think. He was the night manager at a small restaurant. My brother has been front and back of house at Michelin-starred restaurants. He was let go very recently -- he didn’t tell me on the day and I don’t know when but very recently.

He’s living with ESPN Brother & ESPN Brother’s partner.  They’re doing okay for now.

There’s still a teeny amount of work trickling in to my contract but not much at all, & what does come in is SNAPPED up tout suite.  I’m hoping against hope that my outside contract can come through & pay me pretty soon for the work I did for them early this month -- & that they can pay me for the work I just invoiced them for pretty soon, too.  I’ve got another 7 hours of audio due for them Sunday, and 5 hours due for my main contract Friday.  So I have a teeny buffer, but no idea when more work will show up.

So.  That’s how it is right now.

NFL Team May Oust Offensive Line Coach Who Refused COVID-19 Vaccine

NFL Team May Oust Offensive Line Coach Who Refused COVID-19 Vaccine

2021-07-23 16:17:24 The Minnesota Vikings may part ways with Rick Dennison after the offensive line coach and run game coordinator refused to get a COVID-19 vaccine. Dennison, a veteran NFL presence with 27 years in the league, is believed to be the first NFL position coach imminently facing unemployment over a potentially life-saving vaccine. While ESPN was first to report Friday that…

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Peloton, Nike And Naomi Osaka Score

Winners and losers in sports activities are sometimes determined by who makes the perfect changes throughout a sport or occasion, however 2020 required pivots on the fly off the sector like by no means earlier than. The NBA and the NHL created “bubbles” to complete their seasons; ESPN and different networks rushed out documentaries, like The Final Dance, to fill programming holes; and athletes skilled at dwelling, prevented from sticking to their traditional finely tuned routines.

Sports activities’ fingerprints have been all around the largest storylines of 2020. The NBA’s resolution to halt its season in March woke up many Individuals to the seriousness of the coronavirus pandemic, and athletes have been high-profile members in racial injustice protests and used their social media accounts to amplify their messages. The U.S. presidential election triggered LeBron James’ “Extra Than A Vote” marketing campaign and crew homeowners opened their large buildings to function socially distant voting retailers.

Listed below are our choices for 2020’s most intriguing individuals, corporations and traits from the intersection of sports activities and cash.

Finest Product: Peloton

“When the coronavirus lockdowns began in March, individuals typically went one in all two methods: They drank or labored out,” says Forbes Awards choose Scott Tilton, CEO of Hookit, which tracks the affect of athletes, groups, leagues and types on social media. Happily for Peloton, sufficient selected exercises. The inventory is up nine-fold since its March lows. That may be a large turnaround, with Peloton having opened 2020 reeling from a viral ad campaign, labeled sexist and tone-deaf by many, as properly a lawsuit over unpaid music royalties. Questions remained over the marketplace for $2,500 stationary bikes; CEO John Foley is now focusing on 100 million subscribers prepared to pay $39 a month to sync exercises to their Peloton tools, up from 1.4 million at the moment.

Peloton

Peloton

Most Intriguing Newcomer: Sky Brown

The 12-year-old Anglo-Japanese skateboarder competes for Nice Britain and was on monitor to qualify for the 2020 Summer time Olympics. She posted a video to her 765,000 Instagram followers of a horrific fall that reportedly resulted in a number of cranium fractures however is decided to be prepared for the rescheduled Tokyo Olympics in 2021. Brown was featured in a Nike advert marketing campaign with Serena Williams and Simone Biles final 12 months.

Sky Brown

Simon Hofmann/Getty Photographs

Disruptive Innovator: Adam Silver

“It took lots of guts for Silver to close all the things down,” Tilton says of the NBA commissioner’s resolution to pull the plug on all video games March 12, the day after the primary participant, Rudy Gobert, examined constructive. Different leagues shortly adopted go well with. The NBA completed its season in an Orlando “bubble” and not using a single Covid-19 case over three months, serving as a mannequin for different sports activities.

Excellent Agency: Nike

Nike put its unparalleled marketing might behind a pair of high-profile advert campaigns—“Play Inside; Play For The World” and “You Can’t Cease Us”—and public opinion shifted in its favor for its help of Colin Kaepernick and the Black Lives Matter motion. The pandemic additionally accelerated the corporate’s high-margin, direct-to-consumer enterprise. Wall Avenue cheered, with the replenish 43% and a current market worth of $180 billion.

Annus Horribilis: MLB homeowners and gamers

The U.S. unemployment price topped 14% in April, however homeowners and gamers of America’s Nationwide Pastime squabbled over the right way to divvy up the sport’s billions. Baseball and its growing old fanbase had an opportunity to be the primary main sport to return to play and seize thousands and thousands of recent followers, nevertheless it struck out as the general public spat delayed the 2020 season additional and turned off many longtime followers.

Forbes Forecast: Information Surge

“Extra knowledge is coming to the world of sports activities. From sponsorships to athlete efficiency, knowledge can be in all places and extra available,” says Tilton. Groups and leagues more and more use knowledge for enterprise selections for ticketing and advertising and marketing whereas body-monitoring startups like Whoop and Oura Ring that monitor exercise, sleep and restoration are proliferating.

And drumroll, please …

The Forbes Individual Of The 12 months In Sports activities: Naomi Osaka

The 23-year-old tennis ace confronted a confidence disaster as her world rating dipped to No. 10—her lowest level since her breakthrough U.S. Open title in 2018. However the world’s highest-paid female athlete ever found her sport on and off the courtroom in 2020.

She claimed one other Open title in September, however the self-described introvert gained much more reward for her activism. 

“She used her affect each alternative she received to carry consciousness to racial injustice,” says Tilton. Osaka withdrew from an occasion to protest the police capturing of Jacob Blake, wore facemasks with the identify of a unique Black sufferer of racial injustice and police brutality earlier than every of her seven Open matches, and was an lively voice on Twitter.

Our inaugural Forbes Sports activities Awards have been chosen in session with Scott Tilton, CEO of Hookit, which tracks the affect of athletes, groups, leagues and types on social media.

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Disneyland isn't close to reopening

New Post has been published on https://appradab.com/disneyland-isnt-close-to-reopening/

Disneyland isn't close to reopening

Disney’s California parks, which have been closed for seven months, will be allowed to reopen at just 25% capacity, and only after the county where it’s located reaches a lower level of Covid-19 cases — something that may take several weeks, if not months.

Orange County, where Disneyland is located, is currently in the second, “red” tier of the state’s four-tier reopening system, which represents a “substantial” spread of the virus. Under state guidelines, all theme parks must remain closed under this tier. Disney’s California Adventure theme park will also remain closed because Los Angeles County is also in a “widespread” tier.

California officials released the guidelines Tuesday afternoon. Disney, which partially blamed state restrictions for the company’s decision to lay off thousands of workers, blasted the latest guidance as “arbitrary.”

“We have proven that we can responsibly reopen, with science-based health and safety protocols strictly enforced at our theme park properties around the world,” said Ken Potrock, president of Disneyland Resort. “Nevertheless, the State of California continues to ignore this fact, instead mandating arbitrary guidelines that it knows are unworkable and that hold us to a standard vastly different from other reopened businesses and state-operated facilities.”

The parks were originally set to reopen in July, but weren’t permitted to because of state guidelines. Disneyland’s unions have also been pushing California Governor Gavin Newsom to reopen parks.

“We believe a path exists where Disneyland would be able to open safely when Orange County moves into the Orange tier,” the Coalition of Resort Labor Unions, which represents over 10,000 Disneyland workers, wrote in a letter Saturday.

Edmund Velasco, president of the local American Federation of Musicians union, says lack of supplemental unemployment benefits is a partly behind the Disneyland union leaders’ decision to support reopening. In March, Disneyland employees were receiving $600 in weekly unemployment benefits through the CARES Act stimulus bill, which expired at the end of July.

“That actually does factor into it a bit. I won’t lie about that,” Velasco told Appradab Business. “We were the first to be laid off, musicians and artists. We’re going to be the last to be hired back. There’s going to be a lot of people who are struggling to make ends meet because of this.”

Disney reopened its Florida theme parks in July with safety protocols and health measures that included reduced capacity at its parks and requiring all employees and guests to wear masks.

Reopening Walt Disney World was important to the company’s bottom line. “It’s three times the size of Disneyland in terms of revenue,” Michael Nathanson, a media analyst and founding partner at MoffettNathanson, previously told Appradab Business.

Nathanson estimates that Disney World alone generated $11.2 billion, or about 16% of the company’s total revenue in 2019 and added that it’s a massive driver of growth for the company. “It’s probably their most important single asset,” Nathanson said.

Disney (DIS) recently reorganized its whole business around streaming. It created a new Media and Entertainment Distribution group that will be in charge of monetizing content via distribution and ad sales. The group will also oversee the operations of the company’s streaming services like Disney+, Hulu and ESPN+.

Disney+ has quickly become the focal point and a saving grace of Disney’s business this year as the pandemic has ravaged its bottom line, noticeably at its theme parks.

Prior to this closure, Disneyland has only been a closed few times in its past since its opening in 1955. The park has closed for the national day o mourning following the assassination of President John F. Kennedy and the September 11 terror attacks.

–Appradab’s Sarah Moon, Frank Pallotta and Jordan Valinsky contributed to this report.

#AFewThings 1. First Our Men, Now Our Women: Studies show 20% of black women were unemployed due to Covid-19. 2. Media Half Stories: There was such excitement about the unemployment rate coming in at 14.7% you didn't know unemployment has not been this high since 1929. In addition, you didn't hear much about black unemployment's increase. 3. MJ Coughs After He Chokes: MJ has committed $100m to various civil rights and criminal justice causes. Although this is great, the Hall of Famer had 30 years to publicly advocate for racial equality and against police brutality. He didn't. His leadership would've made a huge difference in the fights for equal and civil rights over the years. His recent ESPN special reminds us of his mantra, "Republicans buy sneakers too". Many people died while he stayed quiet. 4. NFL Joins In: Roger Godell put out a long message offering sympathy to the Arbrey, Taylor and the Floyd families. There was nothing about Colin Kapernick who began kneeling during the Pledge of Allegiance 4 years ago. No comment, no job offers, no applogy. Hard to see this as anything more than an effort to keep black viewers and fans. 5. Symbolism Is Not Change: @viacom owner of @CBS, @CBSN, @SciFi, @Oxygen, @TheCW, @CMT, @MTV, @Showtime, Logo, Comedy Central, TVLand, TMC, Nickolodeon, Paramount Networks & Smithsonian TV observed George Floyd's murder by pausing its programming for 8min 46sec. Google gave its employees the same amount of time to reflect. I am interested in whether these multi-billion dollar companies that pay little to no taxes think that is enough. 6. Invasion Of The Body Snatchers: Kanye West joined protesters in Chicago last week. In addition the 2019 new billionaire he has donated $2million to social justice causes, paid for #BreonnaTaylor and #ArmaudArbrey's funerals, set up a 529 college fund for #GeorgeFloyd's 6 yr old daughter. His publicist also reported he is covering the Aubrey family legal expenses. Because we live in a society that values money over everything, people like West, Jordan and others can use their (white) publicists and their money to influence public opinions of their past words & actions https://www.instagram.com/p/CBLuDjZhKUb3l_wOxxkf_oZYou-hrxC_CVBm9c0/?igshid=fl6yrcmqk18q

NBA has a new CEO in China. His first task is to make up with Beijing

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Some of it isn’t true”,”duration”:”02:01″,”sourceName”:”CNN”,”sourceLink”:””,”videoCMSUrl”:”/video/data/3.0/video/business/2020/05/12/elon-musk-covid-19-tesla-gr-orig.cnn/index.xml”,”videoId”:”business/2020/05/12/elon-musk-covid-19-tesla-gr-orig.cnn”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/200210092652-elon-musk-file-large-169.jpg”,”videoUrl”:”/videos/business/2020/05/12/elon-musk-covid-19-tesla-gr-orig.cnn/video/playlists/business-news/”,”description”:”Tesla CEO Elon Musk has called stay-at-home orders “fascist” and spread misinformation about Covid-19 on Twitter. Now, he says he’s reopening a factory despite government orders.”,”descriptionText”:”Tesla CEO Elon Musk has called stay-at-home orders “fascist” and spread misinformation about Covid-19 on Twitter. Now, he says he’s reopening a factory despite government orders.”},{“title”:”Scott Van Pelt: ESPN ‘just making it up’ without live sports”,”duration”:”02:09″,”sourceName”:”CNN Business”,”sourceLink”:”http://www.cnn.com/business”,”videoCMSUrl”:”/video/data/3.0/video/business/2020/05/08/espn-scott-van-pelt-no-sports-orig.cnn-business/index.xml”,”videoId”:”business/2020/05/08/espn-scott-van-pelt-no-sports-orig.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/200508091043-scott-van-pelt-0508-large-169.jpg”,”videoUrl”:”/videos/business/2020/05/08/espn-scott-van-pelt-no-sports-orig.cnn-business/video/playlists/business-news/”,”description”:”Scott Van Pelt, anchor of ESPN’s “SportsCenter,” tells CNN’s Frank Pallotta how the network has had to reinvent itself now that all major sports are suspended due to Covid-19.”,”descriptionText”:”Scott Van Pelt, anchor of ESPN’s “SportsCenter,” tells CNN’s Frank Pallotta how the network has had to reinvent itself now that all major sports are suspended due to Covid-19.”},{“title”:”Watch this Jeep crash and then tip over in test”,”duration”:”01:17″,”sourceName”:”CNN Business”,”sourceLink”:””,”videoCMSUrl”:”/video/data/3.0/video/business/2020/05/08/jeep-wrangler-crash-test-orig.cnn-business/index.xml”,”videoId”:”business/2020/05/08/jeep-wrangler-crash-test-orig.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/200508175644-jeep-wrangler-crash-test-large-169.jpg”,”videoUrl”:”/videos/business/2020/05/08/jeep-wrangler-crash-test-orig.cnn-business/video/playlists/business-news/”,”description”:”In a random audit, the Insurance Institute for Highway Safety conducted a driver-side small overlap front crash test for the 2019 Jeep Wrangler. This is the first time a vehicle has tipped over in an IIHS crash test.”,”descriptionText”:”In a random audit, the Insurance Institute for Highway Safety conducted a driver-side small overlap front crash test for the 2019 Jeep Wrangler. This is the first time a vehicle has tipped over in an IIHS crash test.”},{“title”:”20 million US jobs just vanished. Here’s what that means”,”duration”:”01:14″,”sourceName”:”CNN Business”,”sourceLink”:””,”videoCMSUrl”:”/video/data/3.0/video/business/2020/05/08/jobs-report-unemployment-rate-great-depression-coronavirus-covid-orig.cnn-business/index.xml”,”videoId”:”business/2020/05/08/jobs-report-unemployment-rate-great-depression-coronavirus-covid-orig.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/200508105811-unemployment-arkansas-0423-large-169.jpg”,”videoUrl”:”/videos/business/2020/05/08/jobs-report-unemployment-rate-great-depression-coronavirus-covid-orig.cnn-business/video/playlists/business-news/”,”description”:”The April jobs report shows the US has the highest unemployment rate since the Great Depression. CNN Business’ Christine Romans breaks down what the numbers mean historically.”,”descriptionText”:”The April jobs report shows the US has the highest unemployment rate since the Great Depression. CNN Business’ Christine Romans breaks down what the numbers mean historically.”},{“title”:”How Covid-19 misinformation is still spreading online”,”duration”:”02:33″,”sourceName”:”CNN”,”sourceLink”:”http://www.cnn.com/”,”videoCMSUrl”:”/video/data/3.0/video/business/2020/05/08/coronavirus-misinformation-conspiracy-theories-online-spread-osullivan-pkg-newday-vpx.cnn/index.xml”,”videoId”:”business/2020/05/08/coronavirus-misinformation-conspiracy-theories-online-spread-osullivan-pkg-newday-vpx.cnn”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/200507171538-01-youtube-app—stock-large-169.jpg”,”videoUrl”:”/videos/business/2020/05/08/coronavirus-misinformation-conspiracy-theories-online-spread-osullivan-pkg-newday-vpx.cnn/video/playlists/business-news/”,”description”:”Despite pledges from the big social media companies to remove dangerous coronavirus misinformation, from false causes to false cures, Silicon Valley and fact-checkers around the world are struggling to stem the flow of false claims about the pandemic. CNN’s Donie O’Sullivan reports.”,”descriptionText”:”Despite pledges from the big social media companies to remove dangerous coronavirus misinformation, from false causes to false cures, Silicon Valley and fact-checkers around the world are struggling to stem the flow of false claims about the pandemic. CNN’s Donie O’Sullivan reports.”},{“title”:”The economic recovery hinges on a big unknown: human behavior”,”duration”:”02:53″,”sourceName”:”CNN Business”,”sourceLink”:””,”videoCMSUrl”:”/video/data/3.0/video/business/2020/05/06/stores-reopen-economic-restart-restaurants-closed-travel-recovery-orig.cnn-business/index.xml”,”videoId”:”business/2020/05/06/stores-reopen-economic-restart-restaurants-closed-travel-recovery-orig.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/200319002828-03-travel-coronavirus-sweden-large-169.jpg”,”videoUrl”:”/videos/business/2020/05/06/stores-reopen-economic-restart-restaurants-closed-travel-recovery-orig.cnn-business/video/playlists/business-news/”,”description”:”As some states reopen parts of their economies, experts weigh in on whether consumer behavior will drive or stall our economic recovery.”,”descriptionText”:”As some states reopen parts of their economies, experts weigh in on whether consumer behavior will drive or stall our economic recovery.”},{“title”:”This CEO is giving $1.6 million he made in the stock market to his employees”,”duration”:”01:22″,”sourceName”:”CNN Business”,”sourceLink”:””,”videoCMSUrl”:”/video/data/3.0/video/business/2020/05/01/ceo-stock-market-bonus-employees-the-connor-group-orig.cnn-business/index.xml”,”videoId”:”business/2020/05/01/ceo-stock-market-bonus-employees-the-connor-group-orig.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/200501162053-larry-connor-ceo-the-connor-group-large-169.jpg”,”videoUrl”:”/videos/business/2020/05/01/ceo-stock-market-bonus-employees-the-connor-group-orig.cnn-business/video/playlists/business-news/”,”description”:”Larry Connor, CEO of the Connor Group, made a lot of money on the stock market in just 8 days. He’s giving it all away to about 400 employees.”,”descriptionText”:”Larry Connor, CEO of the Connor Group, made a lot of money on the stock market in just 8 days. He’s giving it all away to about 400 employees.”},{“title”:”Food bank demand skyrockets as supplies dwindle “,”duration”:”02:59″,”sourceName”:”CNN”,”sourceLink”:”http://cnn.com/”,”videoCMSUrl”:”/video/data/3.0/video/business/2020/04/29/food-bank-shortage-demand-high-carroll-dnt-newday-vpx.cnn/index.xml”,”videoId”:”business/2020/04/29/food-bank-shortage-demand-high-carroll-dnt-newday-vpx.cnn”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/200428164426-arkansas-foodbank-large-169.jpg”,”videoUrl”:”/videos/business/2020/04/29/food-bank-shortage-demand-high-carroll-dnt-newday-vpx.cnn/video/playlists/business-news/”,”description”:”With Covid-19 shuttering many workplaces and causing problems in the US food supply chain, many food banks are trying to balance massively increasing demand with limited supply. CNN’s u003ca href=”https://ift.tt/2WZkv3o; target=”_blank”>Jason Carroll u003c/a>reports.”,”descriptionText”:”With Covid-19 shuttering many workplaces and causing problems in the US food supply chain, many food banks are trying to balance massively increasing demand with limited supply. CNN’s u003ca href=”https://ift.tt/2WZkv3o; target=”_blank”>Jason Carroll u003c/a>reports.”},{“title”:”America’s economy is shrinking for the first time in six years”,”duration”:”02:02″,”sourceName”:”CNN Business”,”sourceLink”:”http://www.cnn.com”,”videoCMSUrl”:”/video/data/3.0/video/business/2020/04/29/gdp-economy-covid-christine-romans-orig.cnn-business/index.xml”,”videoId”:”business/2020/04/29/gdp-economy-covid-christine-romans-orig.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/200429131332-christine-romans-gdp-explainer-large-169.jpg”,”videoUrl”:”/videos/business/2020/04/29/gdp-economy-covid-christine-romans-orig.cnn-business/video/playlists/business-news/”,”description”:”CNN Business’ Christine Romans explains why shrinking GDP in the first quarter is a dire warning for the future of the US economy.”,”descriptionText”:”CNN Business’ Christine Romans explains why shrinking GDP in the first quarter is a dire warning for the future of the US economy.”},{“title”:”First conspiracy theorists said she started the pandemic. Now she’s afraid for her life”,”duration”:”05:45″,”sourceName”:”CNN Business”,”sourceLink”:”https://www.cnn.com/2020/04/27/tech/coronavirus-conspiracy-theory/index.html”,”videoCMSUrl”:”/video/data/3.0/video/business/2020/04/26/coronavirus-covid-19-conspiracy-theory-orig.cnn-business/index.xml”,”videoId”:”business/2020/04/26/coronavirus-covid-19-conspiracy-theory-orig.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/200426142714-05-maatje-benassi-0422-large-169.jpg”,”videoUrl”:”/videos/business/2020/04/26/coronavirus-covid-19-conspiracy-theory-orig.cnn-business/video/playlists/business-news/”,”description”:”Conspiracy theorists claim US military worker Maatje Benassi brought coronavirus to China. She didn’t. Benassi speaks exclusively to CNN’s Donie O’Sullivan about how being the target of these theories has ruined her life.”,”descriptionText”:”Conspiracy theorists claim US military worker Maatje Benassi brought coronavirus to China. She didn’t. Benassi speaks exclusively to CNN’s Donie O’Sullivan about how being the target of these theories has ruined her life.”},{“title”:”Working from home could shake up parenting dynamics”,”duration”:”04:27″,”sourceName”:”CNN Business”,”sourceLink”:””,”videoCMSUrl”:”/video/data/3.0/video/business/2020/04/23/dads-share-moms-work-at-home-coronavirus-suffrage-orig-ec.cnn-business/index.xml”,”videoId”:”business/2020/04/23/dads-share-moms-work-at-home-coronavirus-suffrage-orig-ec.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/200423175103-dads-working-from-home-4-large-169.jpg”,”videoUrl”:”/videos/business/2020/04/23/dads-share-moms-work-at-home-coronavirus-suffrage-orig-ec.cnn-business/video/playlists/business-news/”,”description”:”Millions of dads now working from home may spark the kind of generational change this researcher says could be bigger than World War II.”,”descriptionText”:”Millions of dads now working from home may spark the kind of generational change this researcher says could be bigger than World War II.”},{“title”:”Dr. Oz, Dr. Drew and Dr. Phil made these claims on Fox News. Now they’re backtracking”,”duration”:”03:17″,”sourceName”:”CNN Business”,”sourceLink”:””,”videoCMSUrl”:”/video/data/3.0/video/business/2020/04/17/dr-oz-dr-drew-dr-phil-fox-news-misleading-claims-orig.cnn-business/index.xml”,”videoId”:”business/2020/04/17/dr-oz-dr-drew-dr-phil-fox-news-misleading-claims-orig.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/200417145124-20200417-dr-drew-dr-phil-dr-oz-fox-gfx-large-169.jpg”,”videoUrl”:”/videos/business/2020/04/17/dr-oz-dr-drew-dr-phil-fox-news-misleading-claims-orig.cnn-business/video/playlists/business-news/”,”description”:”TV hosts Dr. Mehmet Oz, Dr. Drew Pinsky and Phil McGraw have all appeared on Fox News and made these misleading claims about coronavirus. Now, all of them are backtracking.”,”descriptionText”:”TV hosts Dr. Mehmet Oz, Dr. Drew Pinsky and Phil McGraw have all appeared on Fox News and made these misleading claims about coronavirus. Now, all of them are backtracking.”},{“title”:”Global oil crisis: Bottom of the barrel is still unclear”,”duration”:”02:12″,”sourceName”:”CNN Business”,”sourceLink”:””,”videoCMSUrl”:”/video/data/3.0/video/business/2020/04/16/coronavirus-oil-industry-crisis-price-war-explained-lon-orig.cnn-business/index.xml”,”videoId”:”business/2020/04/16/coronavirus-oil-industry-crisis-price-war-explained-lon-orig.cnn-business”,”videoImage”:”//cdn.cnn.com/cnnnext/dam/assets/200409105402-oil-pump-jack-0408-large-169.jpg”,”videoUrl”:”/videos/business/2020/04/16/coronavirus-oil-industry-crisis-price-war-explained-lon-orig.cnn-business/video/playlists/business-news/”,”description”:”The oil industry has been ravaged by the coronavirus and a price war between two of its biggest players. CNN’s John Defterios investigates. “,”descriptionText”:”The oil industry has been ravaged by the coronavirus and a price war between two of its biggest players. CNN’s John Defterios investigates. “}],’js-video_headline-featured-28kcm13′,”,”js-video_source-featured-28kcm13″,true,true,’business-news’);if (typeof configObj.context !== ‘string’ || configObj.context.length

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Japan’s central bank will ease its support for the stock market. Here’s what you need to know: The headquarters of the Bank of Japan in Tokyo.Credit…Kim Kyung-Hoon/Reuters The Bank of Japan said on Friday that it would scrap its annual minimum target for equity fund purchases, a decision that comes as Japan’s stock markets hit levels unseen since the collapse of the country’s economic bubble in the early 1990s. The decision was announced as part of a three-month policy review meant to give the central bank more flexibility to address the economic effects of the coronavirus pandemic. Under its previous policy, the bank aimed to invest around $55 billion annually in exchange-traded funds — baskets of equities that can be bought and sold on the stock market. That was part of a policy of monetary easing intended to stimulate inflation to combat sagging prices, which sap corporate profits. Since 2010, when the purchases began, the bank has become Japan’s single largest stockholder. Share prices are now at their highest point in over three decades. The decision on Friday will give the bank the flexibility to make future purchases at more favorable prices. It will also help to address concerns that the program has distorted Japanese stock markets. The bank will continue to invest in equities that track Japan’s Topix stock index “as necessary,” it said. It will maintain the upper limit of $110 billion in purchases per year that was set earlier in the pandemic, as part of emergency measures to stimulate the economy. The bank also said that it would maintain its current interest rate targets while allowing long-term rates slightly more room to breathe, increasing the band to 0.25 percent from 0.2 percent. Charles Rettig, the Internal Revenue Service commissioner, last year. He said the I.R.S. was planning to automatically issue refunds to taxpayers that were eligible for new tax breaks.Credit…Anna Moneymaker for The New York Times Taxpayers who already filed their 2020 returns should not amend them to take advantage of tax breaks that were created by the new $1.9 trillion pandemic relief legislation, the Internal Revenue Service commissioner, Charles Rettig, told lawmakers on Thursday, saying that the I.R.S. would automatically send refunds to those who qualify. Mr. Rettig, speaking at a congressional hearing, was referring to a provision in the law that provides a tax exemption on the first $10,200 of jobless benefits collected in 2020 by unemployed workers whose households earned less than $150,000. “We believe that we will be able to automatically issue refunds associated with the $10,200,” Mr. Rettig said. According to The Century Foundation, about 40 million Americans received unemployment insurance last year. The tax changes included in the most recent stimulus bill passed earlier this month, along with tax changes in the December aid package and the rush to disburse economic impact payments, have put severe pressure on the I.R.S. The agency said on Wednesday that Tax Day would be pushed back by a month, from April 15 to May 17, to give itself and taxpayers more time to handle returns and refunds. The Treasury Department and the I.R.S. are also racing to develop new regulations and update systems to reflect other aspects of the March relief law. Treasury officials said at a briefing on Thursday that they are working with the I.R.S. to develop a new online portal to disburse advance payments for the expanded Child Tax Credit, which will provide up to $3,600 per child under age 6 and $3,000 for children ages 6 to 17, regardless of whether a family earns enough to pay income taxes. The portal will allow taxpayers to upload relevant data for midyear payment adjustments, such as the birth of a child, the officials said. Treasury officials also said the department is working on additional guidance on how states can use money included in the relief law. That will include clarity about how states must repay relief funds if they decide to cut taxes after receiving aid. Government workers have been particularly hit hard by the pandemic. Nearly 1.4 million of the 9.5 million jobs that have disappeared over the past year came from state and local work forces. State and local government positions account for about 13 percent of the nation’s jobs, and the sector has historically been more welcoming for women and African-Americans, offering an entryway into the middle class. But a report from GovernmentJobs.com, a recruiting site for public sector jobs, suggests that even in this corner of the economy, applicants who are not white males can be at a disadvantage. The study, which analyzed more than 16 million applicants by race, ethnicity and gender in 2018 and 2019, found that among candidates deemed qualified for a job in city, county or state government, Black women are 58 percent less likely to be hired than white men. Over all, qualified women were 27 percent less likely to be hired than qualified men. The disparity was surprising. In a survey of 2,700 applicants, nearly a third said they thought they were more likely to be discriminated against in the private sector than in the public. Black Americans, who make up 13 percent of the population, rely disproportionately on state and local government jobs, making up 28 percent of the applicants for positions. There were steps that could mitigate bias. The study found that many more Black women were called in for interviews when all personally identifying information was withheld during the application screening process — so recruiters did not know a candidate’s name, race and gender. Using a standardized rubric with specific guidelines for each score also sizably increased the number of Black women called in. Penisha Richardson, who is 35 and lives in Newport News, Va., is a specialist in technical support at a company making printers and copiers. She remembers that when she was looking for jobs — in the public and private sectors — she got many more responses when she listed her name as Penny instead of Penisha. “I had one person tell me I should go by Penny because it’s easier to pronounce,” Ms. Richardson said. Alexi McCammond, who made her name as a politics reporter at the Washington news site Axios, had planned to start as the editor in chief of Teen Vogue next Wednesday. Now, after Teen Vogue staff members publicly condemned racist and homophobic tweets Ms. McCammond had posted a decade ago, she has resigned from the job. Condé Nast, Teen Vogue’s publisher, announced the abrupt turn on Thursday in an internal email that was sent amid pressure from the publication’s staff, readers and at least two advertisers, just two weeks after the company had appointed her to the position. China’s internet regulator rebuked LinkedIn executives this month for failing to control political content, according to three people briefed on the matter. Though it isn’t clear precisely what material got the company into trouble, the regulator said it had found objectionable posts circulating in the period around an annual meeting of China’s lawmakers, said these people, who asked for anonymity because the issue isn’t public. As a punishment, the people said, officials are requiring LinkedIn to perform a self-evaluation and offer a report to the country’s internet regulator. The service was also forced to suspend new sign-ups of users inside China for 30 days, one of the people added, though that period could change depending on the administration’s judgment. LinkedIn has been the lone major American social network allowed to operate in China. Amazon will show Thursday night games on its Amazon Prime Video service.Credit…Jennifer Stewart/Associated Press The N.F.L. signed new media rights agreements with CBS, NBC, Fox, ESPN and Amazon collectively worth about $110 billion over 11 years, nearly doubling the value of its previous contracts, Ken Belson and Kevin Draper report for The New York Times. CBS, Fox and NBC will pay more than $2 billion each to hold onto their slots, with NBC paying slightly less than CBS and Fox, according to four people familiar with the agreements who requested anonymity because they were not authorized by the N.F.L. to speak publicly about the deals. ESPN will pay about $2.7 billion a year to continue airing Monday Night Football, but also to be added into the rotation to broadcast the Super Bowl beginning in 2026. The agreement with ESPN starts one year earlier, in 2022, because its current contract expires one year earlier than the others. Each of the broadcasters’ deals include agreements for their respective streaming platforms, while Amazon will show Thursday night games on its Amazon Prime Video service. “Over the last five years, we started the migration to streaming. Our fans want this option, and the league understands that streaming is the future,” said Robert K. Kraft, owner of the New England Patriots and chairman of the N.F.L.’s media committee. The N.F.L. has not yet announced who will broadcast Sunday Ticket, a subscription service that lets fans watch out-of-market weekend games that are not broadcast nationally. DirecTV has the rights to that service through 2022. The contracts also set the stage for the league’s owners to make good on plans to expand the regular season to include a 17th game. It will be the first major expansion to the N.F.L. season in more than four decades, when teams began playing 16 games, up from 14, in 1978. Source link Orbem News #bank #Central #ease #Japans #market #stock #Support

The House of Mouse Got Caught in Corona’s Mouse Trap

Everyone knows Disney. If you’re a Marvel fan, you like Disney. If you’re a Star Wars fan, you like Disney. If you watch sports on ESPN, you’re into Disney. The billion dollar company has become a large staple in the entertainment industry all around the world. But amid this pandemic, not even this business giant is safe. Furloughs and insane amounts of money loss brought back Bob Iger, former CEO of the company, from the brink of retirement as the company struggles to survive through this pandemic. In this post, we will be looking into the devastation at Disney and the radical changes in people’s spending habits. 

An article by the New York Times, detailed the dilemma at Disney and the unplanned return of Bob Iger to the company. Iger had been putting off retirement for quite some time, and right as he planned to leave the House of Mouse for good, disaster struck and he went right back to work to work on saving the company.

 Disney is losing billions of dollars daily as the Corona Virus pandemic strikes, and their employees have joined the millions of people around the world in the boat of unpaid leave or unemployment. 

“The company employed 223,000 as of last summer, and won’t say how many workers are furloughed, but the numbers are huge. It includes more than 30,000 workers  in the California resort business alone, according to the president of Workers United Local 50 that represents some of those workers, Chris Duarte. Another 43,000 workers in Florida will be furloughed, the company confirmed on Sunday. All the workers will keep their benefits, but their last paychecks come April 19.“The next day, March 13, was their last in the office. In early April, Mr. Chapek sent a bleak internal email announcing a wave of furloughs. He pushed immediate cuts and freezes on everything from development budgets to contractors’ pay.” 

Disney employees are luckier than others though, as the company will continue to grant them their benefits as they are not being fired or layed off, just furloughed. 

How is it that such a big company can be struggling so much? 

Disney is largely associated with its on screen work, but the company has expanded so far beyond. A large portion of the company’s income came from their amusement parks, resorts and cruises. Of course, as social distancing became more and more strict, these things were quickly shut down. 

“But Disney’s much-imitated model was almost perfectly exposed to the pandemic. The shift from on-screen entertainment into in-person experiences helped Disney become the biggest media company in the world. But those businesses have been impossible to protect from the pandemic. The company’s largest division brought in more than $26 billion in the year ending last June by extending its brands to cruise ships and theme parks. Those are all shuttered now.” 

Why should we be thinking about this? 

Well, if a billion dollar company can begin to question things about its future, then what does that mean for us as the average citizen? The issue Disney faces is now is the larger scale version of what people are facing individually in light of the economy so severely shutting down. What is happening in Disney right now is an indicator to the gravity of this situation and should be a wake up call to everyone, but especially to those who are bluntly downplaying the serious nature of the virus. The crisis at Disney should be something that people see and actually acknowledge, because many, if not most people, are facing the same issue albeit on a smaller level. 

Changing Gears to Money Land 

With that situation covered, there’s another thing that has taken a significant change as the world faces this pandemic. People used to spend their money more leisurely and were more indulgent with their purchases, but with paychecks cut significantly or completely off the table, the spending train has changed tracks. The basic needs of a human have taken center stage in spending as everything---including restaurants---shut down. With vacations basically useless since everything is shut down all over the world, travel money has been taken out of the budget. Unless you’re travelling to be with family, which costs very little now, you probably aren’t paying for travel. And with all sorts of entertainment and luxury businesses shut down, there isn’t much but necessities to spend money on. Another article from the New York Times looked into the changed spending habits of people in the US. 

“Some companies like Walmart, Amazon and Uber Eats have seen spikes in purchases. But customers of many other businesses have simply stopped spending, the data shows...As restaurants closed and people began staying home last month, grocery stores experienced a surge in demand. “

It is not difficult to see these changes reflected in the community. I’ve noticed some serious changes in the way my family, and I personally, spend money. Most purchases we make are food with very little exception. There isn’t much spent on entertainment except for the occasional rented movie or purchase on Amazon. 

This pandemic has gotten to the entire population of Earth. With company’s as large as Disney suffering and people having to rethink their everyday habits, it is clear that a lot in the world has changed, both in our personal lives and in the ways of the community. It’s how we deal with it and whether or not we choose to acknowledge it that will determine the outcome of this difficult time. 

Until next time. 

 KEY TERMS 

Furlough- 

A time period of unpaid leave for employees of a company. Is an alternative to layoffs. 

CEO- 

The head of a company. They are responsible for running/managing the company.