Coronavirus in Massachusetts (Boston, Newton: credit report, corporation, organization)

[msRB311]

Did Mayor Walsh already postpone Boston public going back in person?

[redplum33]

Originally Posted by mdovell

I'm starting to think that we are going to have another shutdown.

I think so also.

[msRB311]

FL is allowing the Miami Dophins to have 65k fans in their stadium at the next game.

[BostonMike7]

Originally Posted by NewfieMama

I'm very anxious about the long-term effects of the economic decisions that are being made. But I'm a Nervous Nelly about money generally. Now I'm worried about losing jobs, and the long term effect on unemployment + inflation. Even some discussions at my company have shifted to which competitors we think will not make it through (key factor being debt). Seems like those companies with cash will be the ones to make it, but it's a very depressing discussion to have.
?

Our year commercially has been very interesting. Consumer demand for things like phones and cars fell off a cliff for us. However, demand for tech infrastructure (iT and remote work solutions) took off. It’s been a record year with record sales through Q3. We have a very diverse portfolio, which comes in handy in uncertain times

Everything dropped off during in the last month. We plan for this sort of drop off, and I’ve seen it before so nothing new, and not near ‘08/‘09 numbers. But the emails have started to trickle in to reduce spending, reduce overtime for my techs, postpone capital spending and prepare to conserve. Headcount cuts have been made in some of the nanufacturing areas, but again that’s typical in a dip and not out of the ordinary. Cuts rarely make it to my dept, but they do happen. So far for 2020 we’ve managed to avoid white-collar cuts and furlough, but we will see if that holds true through Q4 and Q1.

I was going to buy a new car (nothing fancy...mine is just getting up there in miles) ..but let’s wait a year and see how things play out.

[NewfieMama]

Originally Posted by BostonMike7

Our year commercially has been very interesting. Consumer demand for things like phones and cars fell off a cliff for us. However, demand for tech infrastructure (iT and remote work solutions) took off. It’s been a record year with record sales through Q3. We have a very diverse portfolio, which comes in handy in uncertain times

Everything dropped off during in the last month. We plan for this sort of drop off, and I’ve seen it before so nothing new, and not near ‘08/‘09 numbers. But the emails have started to trickle in to reduce spending, reduce overtime for my techs, postpone capital spending and prepare to conserve. Headcount cuts have been made in some of the nanufacturing areas, but again that’s typical in a dip and not out of the ordinary. Cuts rarely make it to my dept, but they do happen. So far for 2020 we’ve managed to avoid white-collar cuts and furlough, but we will see if that holds true through Q4 and Q1.

I was going to buy a new car (nothing fancy...mine is just getting up there in miles) ..but let’s wait a year and see how things play out.

It sounds like your diverse portfolio is keeping your your business as a whole in good shape--it's good you have some industries that are growing in these times, that definitely makes the dips elsewhere less concerning. Even in my industry--retail--it's a tale of two industries. The stores have obviously taken a hit, but my side of the business, e-commerce, is busier than ever. So much pivoting in strategy over the past 7 months.

My husband is an actuary, and at first we felt that insurance is an industry that is relatively safe, but I do think this economic downturn will have far-reaching impacts. His company has announced that they are providing packages for early retirement, spending has been reduced...so he's nervous about layoffs further down the road.

We have had the same discussion about replacing our older vehicle. We are not fancy car owners--we take the Dave Ramsey approach to buying vehicles which is to pay cash for a low-mileage used car and then drive it into the ground. Our 2008 Jeep has about 180K miles on it and is near the end of its life, but I think we have another year in it. Would be nicer heading into winter if the heat worked...

[lrfox]

Originally Posted by BostonMike7

I was going to buy a new car (nothing fancy...mine is just getting up there in miles) ..but let’s wait a year and see how things play out.

I pulled the trigger on a slightly used car in September. My old car was a purchase made with practicality in mind (light towing, driving in the mountains, snow, relatively fuel efficient for daily commute, lots of cargo room, etc.). I owned it for 7 years and put nearly 190,000 miles on it. The last three years without a payment have been nice, but I have been itching to swap it for something a little more fun (since my driving now is mostly weekend driving, no towing, and less space required) since I made that last car payment. I had put some money aside for a considerable down payment with last spring being my goal.

I haven't personally felt that my job is at risk, but there's enough uncertainty around the economy in general that I decided to push back the purchase (from spring to fall) and scale back the budget by a good chunk. I just didn't want to take any chances right now.

[OutdoorLover]

At worldometers, the 7-day moving average for new cases in Mass has been creeping up since July, but the 7-day moving average for deaths has been flat over this time.
https://www.worldometers.info/corona...massachusetts/

[sawyer2]

'Dying in a leadership vacuum' - from the New England Journal of Medicine, one of the most esteemed medical publications.

Good summation and worth your time to read - highly unusual editorial in that they and similar journals are nearly always apolitical.

"When it comes to the response to the largest public health crisis of our time, our current political leaders have demonstrated that they are dangerously incompetent. We should not abet them and enable the deaths of thousands more Americans by allowing them to keep their jobs."

https://www.nejm.org/doi/full/10.105...iting_articles

[BostonMike7]

Originally Posted by OutdoorLover

At worldometers, the 7-day moving average for new cases in Mass has been creeping up since July, but the 7-day moving average for deaths has been flat over this time.
https://www.worldometers.info/corona...massachusetts/

Deaths have been falling globally for the last few months, but hard to pinpoint the cause. It could be expanded testing capabilities catching more cases, or inprovements in treatments, or a younger base bearing the brunt of the cases and more apt to survive.

Anecdotally speaking, most of not all of the positive cases I’m aware of now are 20-somethings. Coworker today was telling us of a party her friends went to a few weeks back where no less than 38 people ended up testing positive. “They were sick a few days and got better and are fine now. No big deal”

I’ve got a few more scary tales from the 20-something in our office...which two have been (shocker) tested twice in the last 2 weeks. Needless to say I stay away

[rach5]

I am always complaining and warning here - but this seems more cautious than the Patriots' attitude: https://www.nbcboston.com/news/coron...covid/2209181/