The Daily Valet. - 3/25/20, Wednesday
✔️ Your Check Is Coming
Wednesday, March 25th Edition
Just when I think I’m making progress ... I touch my face.
Cory Ohlendorf , Editor ⋯ @coryohlendorf
Today’s Big Story
President Wants to End Isolation
A growing debate pits the health of the American economy against the health of its people
Since the time you read this newsletter yesterday, at least 163 Americans have died from COVID-19, making Tuesday the deadliest day in the US since the coronavirus pandemic began. It also brought the American death toll past 700, as the WHO warned the US could be the next epicenter of the virus.
To put it another way, I don’t think we’re past the worst of this. Not yet. But with President Trump saying he wants “the country opened” by Easter to salvage the economy, a debate is now raging among policymakers over the necessity of shutting down vast swaths of American society to combat the outbreak, reports the Washington Post.
Public health experts and local and state leaders have cautioned against easing restrictions too early, saying it could put an enormous strain on hospitals and lead to even more deaths and economic damage. But Trump said Tuesday that he believed the human toll would be greater should Americans continue to stay at home.
At the same time, the White House issued strict new guidelines for people who have traveled to New York City, reports Vice. They recommend travelers self-quarantine for 14 days if they recently left the region.
Trump on Tuesday expressed frustration with the economic consequences of having millions of Americans staying home and compared the coronavirus to the flu, despite public experts cautioning against the comparison, reports NBC News.
But a fact check of those statements prove that the two really can’t be compared. They are very different and present different kinds of dangers. And as eager as we all are to get back to normal, we’ve still got some time to go.
↦ Valid QUestion: Is the president just suffering from the same self-isolation stir-craziness so many of us are dealing with?
“We Have a Deal”
The $2 trillion package is the biggest economic stimulus in modern American history
Senate leaders and the Trump administration reached an agreement early Wednesday on a $2 trillion stimulus package to rescue the economy from the pandemic's assault, reports the New York Times.
The full text and details of the bill will be coming later today, but the legislation is expected to be enacted within days. The plan will send direct payments and jobless benefits to individuals, as well as money to states and businesses devastated by the coronavirus pandemic. Other provisions include relief for overworked and underfunded hospitals.
According to Reuters, the deal was struck after 1 a.m. this morning, capping five straight days of intensive negotiations that occasionally descended into partisan warfare.
The bill calls for an inspector general and a bipartisan congressional panel to monitor the industrial aid, sources said. That means the companies that request financial help would face restrictions on stock buybacks and executive pay.
↦ FYI: The stimulus amounts to more than what the government spends on national defense, scientific research, highway construction and other discretionary programs in a given year.
Automakers Come to the Rescue
Ford joins Tesla and GM in helping with ventilator and mask supply
Times are tough for those on the front lines of this outbreak. A mad dash for masks, gowns and ventilators is pitting states against each other and driving up prices. Some hard-hit parts of the country are receiving fresh supplies of N95 masks, but others are still out of stock. Hospitals are requesting donations from construction companies and nail salons, while considering using ventilators designed for large animals because they can't get the ones for humans.
But America's automakers are answering the call of duty. On Tuesday, Ford announced it’s working with 3M and General Electric to make the kinds of ventilators and masks that are currently in short supply. They join Tesla and GM, who are putting their parts suppliers to work manufacturing vital medical equipment.
Ford is also testing new face shields to help medical professionals mitigate the risk of becoming infected with COVID-19, which can be spread by tiny droplets in a person’s cough or sneeze.
Maybe it's good karma. The country bailed the auto industry out when they really needed it in 2008. Now their country needs them and they're rising to the occasion.
One Bright Spot? Online Shopping
Nike says digital orders have actually offset the damage done by closing stores
The rapidly spreading coronavirus has prompted Nike and dozens of other retailers to close their stores, governments to limit travel and many shoppers to stay home. But according to the Wall Street Journal, sales initially plunged when stores closed but demand quickly jumped online.
In fact, Nike was able to offset nearly all of its lost retail sales with online orders. It makes sense. I've been shopping online more since staying home. And GQ pointed to data from analytics firm Quantum Metric that showed online clothing shopping revenue is already up 43% at US-based online retailers since the first week of January, and that the average order value has gone up 26% in that time span.
On Tuesday, the US Postal Service said that it was joining the ranks of Amazon, Wal-Mart and several national pizza chains by hiring a slew of new people to keep up with the demand from online deliveries during this time of social distancing and self-isolation.
If by purchasing stuff I want and need from the comfort of my home is a small way I can boost the economy, count me in.
↦ Is it safe? The CDC states that “there is likely very low risk of [virus] spread from products or packaging that are shipped over a period of days or weeks at ambient temperatures.”
In Other News
Other Things We’re Talking About Today
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Working From Home?
Then you should make it as nice as you can
Working from home always sounds like a great way to work ... until you end up trying to stay productive typing on the couch or wasting most of the day on some distracting side project.
The key, I've found, is to make sure you've got a dedicated place to work. It could be a separate office (if you're really lucky) or just a small space tucked into a corner of a room.
To help you outfit your home workspace with the right gear, we rounded up a few good looking desks, along with some comfortable office chairs and handsome finishing touches.
Perhaps you're in the market to upgrade or maybe you're just in the mood to look at some cool stuff—in any case, we've got you.
↦ Expert Advice: Entrepreneur shares 10 tips from CEOs on working from home effectively and happily.
What We’re Buying
Billykirk just kicked off their annual spring sale, and this year, the brand is donating 10% of the proceeds to Feeding America. Which really makes it a win-win, right? Use code SALE25 for 25% off anything sitewide. Of course, there are handsome bags and our favorite valet trays, but we're using the discount for a new belt that's sure to last a decade or more.
↦ Get It $95 / $71.25 at Billykirk
Today’s Deals
Expires 3/25
Expires 3/26
Expires 3/25
↦ Want More? See all 72 sales
Morning Motto
Let your work speak for itself.
↦ Follow: @maxwastler
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