April 30, 2020

Although many companies remain closed during the ongoing pandemic, some businesses have been able to alter their operations to produce increasingly vital supplies. This video looks at how Dogfish Head Brewery managed to keep its employees on the payroll while also supplying local hospitals with hand sanitizer.

Questions:

  1. How did Dogfish Head Brewery change its operations to make hand sanitizer?
  2. What is the three-step process that Dogfish Head Brewery used to engage with their community during the coronavirus crisis?
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April 28, 2020

Last week, legislators approved of another round of small business loans after funding failed to reach thousands of companies the first time. Unfortunately, many of these desperate businesses are encountering the same problems as they did a few weeks ago. Shortly after going online on Monday, the Small Business Administration’s electronic loan portal crashed due to high demand. “The SBA’s systems were not designed to and are not capable of handling the volume of loans banks processed over the last Continue reading

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April 23, 2020

This morning, the Labor Department announced that another 4.4 million Americans filed for unemployment benefits last week. That brings the official number of jobless people to 26.5 million over the past month, effectively erasing almost all of the new jobs created since the 2008 financial crisis. To make matters worse, many state unemployment processing systems have become overwhelmed after receiving record numbers of requests. As a result, experts predict that the actual number of jobless Americans could be much higher Continue reading

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April 21, 2020

A few weeks ago, legislators approved a $2 trillion stimulus package that set aside $349 billion for small businesses that have drastically altered operations during the pandemic. After a poor rollout left many companies unable to petition for relief, however, the fund dried up last weekend with thousands of businesses still in need of loans. What’s more, among the companies that received relief included major chains with thousands of employees and numerous locations across the country.

For example, the Continue reading

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April 17, 2020

With millions of cars off the road and thousands of airplanes sitting idle on tarmacs, oil consumption has plummeted since the start of the coronavirus pandemic. This has led to a drastic drop in petroleum prices that could have an enormous impact on the global economy in the months to come. This video looks at how trade tensions caused prices to fall before the Covid-19 crisis and how oil producing nations are now rethinking their priorities. 

Questions:

  1. How has Continue reading
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April 16, 2020

With thousands of stores closed around the country, U.S. retailers saw sales plunge by 8.7 percent in March. That represents the worst monthly decline on record as millions of consumers stopped visiting restaurants, bars, and shopping malls due to stay-at-home orders for coronavirus containment. While sales of cars, furniture, and electronics all experienced double digit drops, spending at clothing stores plummeted by more than 50 percent. Manufacturing capacity and oil production also fell to their lowest rates since the end Continue reading

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April 14, 2020

Last week, we looked at how dairy and egg suppliers that primarily work with restaurants are struggling to adapt to a radically changed business environment. And while food companies that service supermarkets are better equipped to deal with the current crisis, many suppliers are now facing labor shortages as an increasing number of employees fall ill with coronavirus. Experts predict that the nation’s food supply chains will be disrupted in the coming weeks, potentially resulting in local shortages of certain Continue reading

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April 10, 2020

Over the last few weeks, shoppers at supermarkets across the country have stocked up on versatile staples like milk, bread, and eggs that are well-suited for hunkering at home. But as many meat and dairy producers ramp up production to satisfy this increasing demand, food companies that serve clients like restaurants and schools are drastically scaling back. With many eating establishments now closed or take-out only due to coronavirus containment, food suppliers have seen demand for their services plummet. As Continue reading

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April 9, 2020

This morning, the U.S. Department of Labor announced that another 6.6 million Americans filed for unemployment benefits last week. All told, almost 17 million people have applied for jobless aid in the past three weeks, accounting for 10 percent of the U.S. labor force. The sudden loss of so many jobs is staggering and unprecedented. For comparison, it took two years for 8.6 million people to lose their jobs during the Great Recession. Many analysts predict that the unemployment rate Continue reading

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April 7, 2020

The ongoing coronavirus pandemic has caused countless restaurants and stores across the country to alter their services or close entirely, some for as long as a month so far. This stretch of downtime has been devastating for many small businesses that usually get by on week-to-week sales. At Old Town Pizza & Brewing in Portland, Oregon, owner Adam Milne had to lay off two-thirds of his staff as the brewpub transitioned into carry-out only service. In the process he racked Continue reading

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