September 29, 2020

According to the National Restaurant Association, during the pandemic more than 100,000 restaurants have closed either indefinitely or permanently and millions of jobs have been lost. Experts expect that the nation’s eateries will lose more than $240 million this year and warn that the worst could be yet to come. Along with takeout and curbside business, many restaurants have relied on outdoor dining to drive sales as many customers remain wary about eating inside. With winter on the horizon, however, Continue reading

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September 22, 2020

On August 27th, Warner Bros. began gradually releasing the movie Tenet in theaters that had been closed for months due to the pandemic. After more than two weeks on American screens, though, the $200 million film has only earned $29.5 million domestically. As a result, Hollywood studios may hold back on releasing major titles until audiences are ready to return. “You can’t do it. The economics won’t allow you to do it,” said one studio executive. “We can’t give [theaters] Continue reading

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September 17, 2020

According to data collected and analyzed by Yelp, nearly 163,700 businesses have closed since the start of the pandemic in March. This marks an increase of 23 percent from July when Yelp last released statistics about closures. To make matters worse, about 98,000 of those businesses will remain closed permanently. 

More than 32,000 of those shuttered businesses are restaurants, 61 percent of which have closed for good. Yelp claims that restaurants like pizzerias, delis, food trucks, and bakeries Continue reading

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September 10, 2020

With Labor Day weekend come and gone, airlines have entered the period of the year where business travelers usually make up the bulk of their flights rather than tourists. But as the pandemic continues to disrupt life throughout the U.S., almost nothing is proceeding like normal in the air travel industry. All told, the nation’s carriers are losing $6 billion per month and have laid off more than one-fifth of workers as the industry desperately looks for ways to cut Continue reading

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August 20, 2020

As companies across all industries look for ways to reduce contact between employees during the pandemic, many are turning to automated labor as a way both to stay safe and trim costs. This video looks at how advanced robotic technology could change workplaces in the long term while also examining the potential limitations of automation. 

Questions:

  1. Why are many companies investing in automated labor during the pandemic?
  2. What are the advantages and disadvantages of automation?
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August 18, 2020

The ongoing coronavirus pandemic has forced countless companies around the world to come up with new ways to sell products or else risk going out of business. For instance, many bars and restaurants have made the switch to carry-out service and installed take-out windows to easily access waiting customers. For some lucky Italian entrepreneurs, though, their businesses come with built-in to-go kiosks constructed more than 500 years ago.

Known as “buchette del vino,” or “little wine holes” in English, these Continue reading

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August 17, 2020

With hundreds of American movie theaters closed since March, the film exhibition industry has made several attempts to return to business only to reverse course soon after. AMC Theatres, for instance, announced plans to reopen on July 15th but scrapped that idea as coronavirus cases spiked across the U.S. Despite these setbacks, though, the nation’s largest theater chain has now set August 20th as its return date. What’s more, AMC plans to charge just 15 cents per admission on the Continue reading

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August 7, 2020

Airline passenger volume has plummeted by 95 percent during the coronavirus pandemic, wiping out tens of billions of dollars in revenue in the process. This video looks at how airlines are fighting to survive these unprecedented times by furloughing employees, limiting flight capacity, and retiring old aircraft like the Boeing 747. 

Questions: 

  1. What measures are airlines taking to cut costs during the pandemic? 
  2. What are the potential long term consequences of furloughing employees like pilots?
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August 6, 2020

Global sales of household cleaning products and disinfectants have skyrocketed since the start of the coronavirus pandemic. As a result, supplies of some products have become increasingly strained as even the biggest brands struggle to keep up with demand. For example, Clorox CEO Benno Dorer said that the company will not be able to fully stock grocery store shelves with disinfectant wipes until at least 2021. 

Clorox has also been running low on many of its most popular items, Continue reading

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August 4, 2020

From April to June 2020, the U.S. GDP plummeted at an annual rate of 32.9 percent, the worst drop on record. As businesses closed across the country due to the pandemic, the U.S. fell into a recession that wiped out the economic gains of the last five years in just a few months. This data released last week by the Commerce Department “just highlights how deep and dark the hole is that the economy cratered into in Q2,” said economist Continue reading

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