Coronavirus stimulus package offers relief for retirees with RMD waiver and penalty-free 401(k) withdrawals

There’s help for older Americans caught between a falling stock market and low interest rates

Story by Inside Radio / Washington Post
Written by Michele Singletary

While many people have focused on the checks they may get as a result of the massive legislation passed to mitigate the economic impact of the coronavirus, there’s very important but little-noticed relief for retirees.

Tucked in the Coronavirus Aid, Relief, and Economic Security Act, or the CARES Act, are several provisions that cover retirement accounts. Here’s what you should know.

— Required minimum distributions (RMDs) are suspended for 2020. Concerned that they would have to take distributions from their retirement accounts with the market now down sharply for the year, many seniors had hoped Congress would suspend their RMDs for 2020.

“Current balances are massively reduced from end-of-2019 balances, and retirees will wind up being forced to sell their stocks/funds at bargain-basement prices,” one District reader wrote.

During the last financial crisis, when the stock market crashed, Congress suspended RMDs for 2009.

You are required by law to take withdrawals from your IRA, SIMPLE IRA, SEP IRA or retirement plan such as a 401(k) once you reach 72. (It was 70½ before 2020.) But the CARES Act waives RMD payments for 2020, including for inherited IRAs. Additionally, the waiver covers the first RMD, which individuals may have delayed from 2019 until April 1, according to a summary of the Act’s provisions by Fidelity Investments.
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You have until April 1 of the following year after reaching the required RMD age to take your first RMD payment. This deadline applies to the RMD only for the first year. Every year thereafter, you have to take your distributions by Dec. 31.

“If the 2020 RMDs had not been waived, you likely would have had to withdraw a greater percentage of your IRA or plan balance and pay a big tax bill on value that no longer exists,” wrote Ed Slott, a certified public accountant, in a post on AARP’s website about the RMD provision in the new law. “So, it’s good Congress gave us all a year off to sit this out and see what happens, and hopefully have more time to recover losses.”

— Penalty-free withdrawal from your retirement plan. If you are younger than 59½, you are subject to a 10 percent early withdrawal penalty on top of the income tax owed on your withdrawal. The CARES Act waives the 10 percent penalty for IRAs and defined contribution plans for participants experiencing financial hardship.

“I’m not a big fan of this part, because it’s encouraging people to dip into their retirement accounts early,” said David Certner, AARP’s legislative counsel and legislative policy director. “It’s never a good idea. It’s particularly not a good idea when the market is down. But for people who are in really bad shape, this may be their one emergency alternative.”

Coronavirus-related distributions can be taken for the following reasons:

— You, your spouse or dependent has been diagnosed with the coronavirus.

— You’ve experienced adverse financial consequences as a result of being quarantined, furloughed or laid off, or your work hours have been reduced.

— You’re unable to work because of a lack of child care.

— You’ve had to close or reduce the hours of a business as a result of the virus.

— You’ve been financially impacted by other factors determined by the treasury secretary.

Withdrawals up to $100,000 made on or after Jan. 1 would not incur the penalty, according to the Society for Human Resource Management (SHRM), which also has a useful analysis of the work-related provisions in the CARES Act.

To ease the tax burden, if you pull money from your retirement account, you have up to three years to pay taxes on the withdrawals. You can repay all or a portion of the distribution within three years, and the repayments will not be counted toward the annual contribution limits. For 2020, the maximum contribution to a 401(k) or similar retirement plan is $19,500. If you’re 50 or older, you can also contribute an extra $6,500. The annual limit for an IRA is $6,000, with a $1,000 catch-up limit if you’re 50 or older.

— Retirement plan loan amount is doubled. Loan limits from retirement plans have been increased from $50,000 to $100,000. The existing rule that loans may not exceed half the vested account balance has been removed, AARP notes. New and existing loan payments can be deferred for a year.

“Retirement plans can make amendments and adopt these rules immediately, even if the plan does not currently allow for hardship distributions or loans,” according to SHRM.

In the coming weeks, the IRS will clarify a lot of what’s in the CARES Act and issue guidance. Before you make a move, you would be wise to double-check what’s allowed. I would recommend you frequently check what the IRS said at irs.gov/coronavirus.

“Older Americans face the one-two punch of coronavirus’s health and economic consequences, and many need immediate relief and ongoing help and support to cope with the pandemic,” AARP chief executive Jo Ann Jenkins said in a statement following the passage of the legislation. “Those needs are only set to grow in the weeks and months ahead.”

Reader Question of the Week
If you have a retirement question, send it to colorofmoney@washpost.com. In the subject line, put “Question of the Week.”

Q: I get Social Security and don’t file a tax return. How will I get a stimulus check?

A: “If you are receiving Social Security benefits but didn’t file taxes in 2018 or 2019, you will be eligible to receive a stimulus check without a tax return based on data available to the IRS from your annual Social Security benefits statement,” said AARP in a recent post explaining the eligibility for beneficiaries. “The government will send you a direct deposit or check using the information from your Form SSA-1099 Social Security Benefit Statement or your Form RRB-1099 Social Security Equivalent Benefit Statement. You will not have to file a 2019 tax return to get a stimulus check.”

Use this calculator to figure out how much you are entitled to receive: https://www.washingtonpost.com/graphics/business/coronavirus-stimulus-check-calculator/?itid=hp_hp-top-table-main_virusfiscal-desktopblurb%3Ahomepage%2Fstory-ans&itid=lk_inline_manual_41

The IRS has set up a coronavirus tax relief page that you should check for any updates: https://www.irs.gov/coronavirus
At this point, the site offers no information on when the payments will be sent out.

I want to note that the Federal Trade Commission has put out a warning to consumers to help them avoid becoming victims of a stimulus check scam. Please read the consumer alert.

Avoiding Layoffs, iHeart Implements Furloughs, Reduces Executive Compensation.

Story by Inside Radio

iHeartMedia late Monday announced steps it’s taking to reduce costs in light of the economic downturn triggered by the COVOD-19 pandemic – without resorting to permanent layoffs. In a memo to employees from Chairman & CEO Bob Pittman and COO and President Rich Bressler, the company said Pittman will voluntarily take no salary for the remainder of the year and has relinquished his annual incentive bonus. In addition, Bressler and the company’s senior management team will take reductions ranging from 30% to over 70% of their total compensation for the remainder of the year.

The company has also implemented a 90-day furlough, or temporary unpaid leave of absence, for jobs that have been deemed non-essential due to its pullback from live events and shift to a work-from-home model.

“This is not a layoff or a reduction in force (RIF),” the executives say in the memo. Under what amounts to an unpaid leave of absence, “the affected employees stay in our employ, allowing us to continue offering these employees full health benefits, and we want to make sure we take care of them as best we can during this time. And with state unemployment benefits, supplemented by the added special benefits that are part of the new federal stimulus legislation, hopefully these employees will not feel any significant financial impact during this limited period of time,” the memo continues.

In addition, the company announced:

* Reduction of all expenses that can be postponed without impacting our service and commitment to our communities;
* Temporary suspension of the 401(k) match;
* No overtime without pre-approval;
* Temporary suspension of new raises; and
* Strict limitations on – or complete elimination of – Travel and Entertainment (T&E) expenses.

Following is the full text of the memo:

Team,

Our number one concern in this unprecedented time is the safety and well-being of our employees. In response to the coronavirus (COVID-19) pandemic, our company continues to be a primarily work-from-home operation and we have also added some coronavirus-related resources and healthcare benefits if you should need to take advantage of them.

Last week we wrote to you about the economic downturn our country is facing as the result of the pandemic and the need to respond to it to preserve the health of our company. During this unsettled time, we also know the biggest economic concern among our employees is understandably about preserving jobs – and we want you to know that it’s our main concern as well.

Although we have had to make hard decisions to address the economic impact of the downturn, our management team has found ways to reduce our company’s expenses without resorting to permanent layoffs.

As the CEO of the company, Bob will voluntarily take no salary for the remainder of the year and has given up his annual incentive bonus, and Rich and our senior management team will take reductions ranging from 30% to over 70% of their total compensation for the remainder of the year.

In addition, we have implemented:

Reduction of all expenses that can be postponed without impacting our service and commitment to our communities;

Temporary suspension of the 401(k) match;

No overtime without pre-approval;

Temporary suspension of new raises; and

Strict limitations on – or complete elimination of – Travel and Entertainment (T&E) expenses.

We believe all of these reductions give us more room to protect jobs.

Given our pullback from live events and our shift to a work-from-home model, there are a few jobs that are not essential until our business operations revert back to usual. This week we are taking the difficult step of implementing a 90-day furlough, or temporary unpaid leave of absence, for jobs affected by these changes. To be clear, while this will involve a small total number of employees, they are valued colleagues and we did not take this step lightly. We look forward to welcoming them back as soon as we can.

This is not a layoff or a reduction in force (RIF). With a furlough, while it is an unpaid leave of absence, the affected employees stay in our employ, allowing us to continue offering these employees full health benefits, and we want to make sure we take care of them as best we can during this time. And with state unemployment benefits, supplemented by the added special benefits that are part of the new federal stimulus legislation, hopefully these employees will not feel any significant financial impact during this limited period of time.

We’ve never lived through anything like this and, as managers, we’ve never had to make more difficult decisions. However, please know we are listening, studying and considering all options before we make the important decisions that affect you and the company. We may miss on some of these decisions – and we will pivot when we find better ones – but throughout it all, we truly appreciate your support for us, for your colleagues and for the company.

Please be safe and take care of your health and your families.

Bob and Rich

Trump uses Defense Production Act to require GM to make ventilators

Story by The Hill
Written by Brett Samuels

President Trump on Friday used the Defense Production Act to compel General Motors to produce ventilators to combat the coronavirus after days of hesitating to use the powers in the law.

The president in a statement said the federal government had abandoned negotiations with the automaker on ventilator production, complaining that the automaker was "wasting time."

"Our negotiations with GM regarding its ability to supply ventilators have been productive, but our fight against the virus is too urgent to allow the give-and-take of the contracting process to continue to run its normal course," Trump said.

"GM was wasting time," the president asserted. "Today’s action will help ensure the quick production of ventilators that will save American lives."

The Trump administration had been negotiating with GM to make tens of thousands of ventilators, but talks broke down due to concerns that the price tag would exceed $1 billion.

The president turned his ire on the automaker earlier Friday, singling out CEO Mary Barra for criticism.

"As usual with 'this' General Motors, things just never seem to work out," Trump tweeted. "They said they were going to give us 40,000 much needed Ventilators, 'very quickly'. Now they are saying it will only be 6000, in late April, and they want top dollar. Always a mess with Mary B."

Trump in a separate tweet called on GM to reopen a Lordstown, Ohio, plant that the company shuttered last year and sold in November.

The use of the Defense Production Act gives Health and Human Services Secretary Alex Azar authority to determine how many ventilators are appropriate. The department has not responded to requests for comment about whether it has taken an inventory of the devices.

It was not immediately clear how quickly GM would be able to scale up ventilator production. The company said in a news release earlier Friday that it was partnering with medical device maker Ventec to convert an Indiana GM facility into a ventilator production plant.

The companies said they expected the first ventilators will be available next month with the ability to produce more than 10,000 per month after that.

At a White House briefing on Friday evening, Trump said the use of the DPA "should demonstrate clearly to all that we will not hesitate to use the full authority of the government to combat this crisis."

Trump went on to name trade adviser Peter Navarro as the national policy coordinator for the DPA going forward. The promotion of Navarro, one of the most hardline trade protectionists in the administration, signals Trump may be looking to use the act more broadly moving forward.

Navarro told reporters that the administration is working with Ford and General Electric (GE) on ventilator production, but ran into "roadblocks" with GM that prompted the use of the DPA.

State leaders have warned they are running dangerously low on the breathing machines as hospital capacity fills up in areas dealing with significant outbreaks. New York Gov. Andrew Cuomo (D) has projected the state will need 30,000 ventilators, while Louisiana Gov. John Bel Edwards (D) has indicated the state will run out in early April.

Democrats largely expressed relief that Trump had finally engaged the DPA after days of holding out.

"We desperately needed the Defense Production Act invoked to ensure the production of life-saving ventilators. We are relieved that just happened. Lives depend on it," Cuomo tweeted.

Democratic presidential candidate Joe Biden said during a virtual roundtable event that Trump's order was "good news."

"We were suggesting he do that over a month ago," Biden said. "But the point is he's done it, and I congratulate him for it."

Trump invoked the act last week, which gives the president extraordinary powers to compel private companies to manufacture critical supplies in times of crisis. But he had yet to actually use it to ramp up production of masks, ventilators and other materials that hospitals and state leaders have said are dangerously scarce.

The president and his aides had insisted in recent days that the DPA effectively provided leverage and that private companies were producing sufficient supplies. Trump earlier this week also expressed a reluctance to use the act because he worried that doing so amounted to "nationalizing" industries.

Trump on Thursday night questioned some of the requests for ventilators coming from state leaders.

"I have a feeling that a lot of the numbers that are being said in some areas are just bigger than they’re going to be," Trump said on Fox News.

"I don’t believe you need 40,000 or 30,000 ventilators," he added. "You know, you go into major hospitals, sometimes they’ll have two ventilators. And now all of a sudden they're saying, 'Can we order 30,000 ventilators?'"

But as the number of coronavirus cases in the U.S. has risen, the need has become more dire. The U.S. has more cases than any other nation with more than 97,000. Roughly 1,500 Americans had died from the virus as of late Friday afternoon.

NEW: House passes emergency relief bill

Story by the White House

The CARES Act is headed to President Trump’s desk today! Following extensive negotiations between the Trump Administration and Congressional leaders, the House of Representatives finally passed the historic $2.2 trillion economic relief package.

The Senate approved the measure yesterday with a 96-0 vote.

What does it mean? American families, healthcare workers, and small businesses will get the economic support they need to get through this challenging time. That includes $1,200 payments to qualifying Americans, $100 billion in direct support for hospitals, and over $370 billion to small business owners to keep their employees on the payroll.

President Trump will sign the bill as soon as it arrives at his desk this afternoon.

Coronavirus Stimulus Package (Cares Act) Includes $75 Million For Public Broadcasting.

Story by Inside Radio

The Corporation for Public Broadcasting is getting $75 million courtesy of the $2 trillion emergency coronavirus economic relief package that gained Senate approval on Wednesday.

The much-needed money comes as public media stations see falling revenues.

America’s Public Television Stations (APTS), a non-profit membership group and advocacy organization, is among the organizations applauding the news.

“Corporate, foundation and individual giving to local public television stations have rapidly decreased in the wake of the economic downturn accompanying the contagion,” says Patrick Butler, the organization’s president and CEO, “even while public television stations have dramatically expanded remote learning services for millions of students whose schools have been closed in the national emergency.”

The money, Broadcasting & Cable reports, will support the facilities of noncommercial TV and radio stations, in addition to helping stations — especially rural ones— maintain operations.

The current economic crisis is likely to dramatically reduce pledges and corporate sponsorships, which make up about 85% of non-commercial budgets.

The money, in addition to shoring up station support, also acknowledges the role that public stations play in their local communities. APTS, for example, notes that public stations in more than two-dozen states are already providing high-quality educational resources via PBS Kids and PBS LearningMedia.

“Many stations are devoting their entire daytime schedules to age-appropriate educational programming,” Butler said in a news release, “and stations are also providing online services, learning games, teacher and parent guides, and other resources.”

Bernie Sanders Fights for Laid-off Worker Protections in $2 Trillion Stimulus with Corporate Bailout

Story and Video by Democracy Now

The Senate unanimously approved a historic $2.2 trillion emergency relief package late Wednesday night to battle the unprecedented economic shock of the Corona-Virus Pandemic. 
The House will consider the bill Friday before it goes to President Trump’s desk to be signed into law. 



The bill would massively expand unemployment benefits, providing laid-off workers up to 100% of their salary and health insurance benefits for four months.

Vermont senator and presidential candidate Bernie Sanders successfully fought to strengthen the bill’s assistance to laid-off workers, and voted “yes” even as he warned about the bill’s corporate bailout fund. “We do not need, at this moment in history, to provide a massive amount of corporate welfare to large profitable corporations,” Sanders said in a video explaining his vote.

“In a Week We Will Be Italy”: NYC ER Doctor Says the U.S. Pandemic Will Only Get Worse

Story/Video by Democracy Now

As New York hospitals see a surge in coronavirus cases, medical workers report growing shortages of protective gear, and a nurse who tested positive after treating patients with the highly contagious disease has died. “It’s pretty dire inside New York City hospitals right now,” says New York City emergency room doctor Craig Spencer. “We have a growing number of patients coming in every day with coronavirus. We have people young and old, with complications, without complications, who get put on mechanical ventilators, who get put on life support to help their breathing, who have cardiac arrest. It’s a daily reality for many of my colleagues on the frontline.” Spencer is also a survivor of Ebola, which he contracted while fighting its outbreak in Africa.

Read more: https://www.democracynow.org/2020/3/26/nyc_hospitals_coronavirus?utm_source=Democracy+Now%21&utm_campaign=857b46b39f-Daily_Digest_COPY_01&utm_medium=email&utm_term=0_fa2346a853-857b46b39f-190301493

SYNDICATED RADIO HOST RUSS PARR ANNOUNCES NATIONAL MOMENT OF PRAYER

FOR IMMEDIATE RELEASE

Contact: Janine Brunson-Johnson
301-429-2669
jbrunson-johnson@radio-one.com

RUSS PARR ANNOUNCES NATIONAL MOMENT OF PRAYER


CORPORATE PRAYER FOR COVID-19 PANDEMIC

(Washington, DC –March 25, 2020) – On Friday, March 27th at 7:45AM EST, Reach Media syndicated personality and NAACP Image Awards nominee Russ Parr will conduct a National Moment of Prayer (#NationalMomentOfPrayer) amidst the world’s pandemic crisis. Russ Parr understands the diversity of religion and the individuality of spirituality and believes that the power of faith and believing in the greater good is what unifies us all.

“We believe in the power of prayer, especially in numbers.” Russ says. “On Friday, March 27th at 7:45am EST, my friend, gospel singing sensation and Reach Media syndicated radio host Erica Campbell from “Get Up Mornings with Erica Campbell” will join us on the Russ Parr Morning Show and lead us in prayer. Please join us wherever you are for our National Moment of Prayer as we pray for peace, healing & gratitude.”

CEO of Radio One and Reach Media, David Kantor said, “We are 100% behind this National Moment of Prayer. We feel now is the time to bring our nation together as we pray together. I will be praying 7:45am.”

“While this is truly a time of uncertainty, it’s important for us to redirect our fear and turn to our faith. I too will be praying at 7:45am” says Kashon Powell, Vice President of Programming for Radio One.

Russ adds, “Our connection to our listeners is what matters most to us. We take our social responsibility very seriously as the well-being of our collective community is our top priority.”

New York Governor Andrew Cuomo takes national spotlight during coronavirus pandemic

Story by CBS News
Written by Caitlin O'Kane

Video link: https://www.cbsnews.com/news/coronavirus-updates-new-york-governor-andrew-cuomo-takes-national-spotlight-during-coronavirus-pandemic-2020-03-24/

As the number of coronavirus cases continues to increase in the U.S., tensions and anxieties have risen, too. New York has become the U.S. epicenter of the virus, with more than 20,000 cases reported in the state. And New York's governor has taken the spotlight nationally during the crisis.

New York Governor Andrew Cuomo, who hosts daily briefings to update his state on the coronavirus pandemic, often uses strong language to issue drastic warnings – especially messages about social distancing.

His press briefings are streamed on social media and are often covered by national news. So, people far outside New York are hearing Cuomo's messages – and they are starting praise his leadership. On Tuesday, #CuomoforPresident started trending on Twitter.

"Thank you so much for doing these daily, calmly and with so much valid information," Texas resident Nan Sauta tweeted. "I live in Austin, TX and watch you everyday. Stay safe."

"Andrew Cuomo... NY Governor ... leader of the free world at the moment. Words of calm, logic and wisdom," wrote George Philipas, who works in South Africa, according to his Twitter bio.

"NY Governor Andrew Cuomo's press conference right now should be required viewing for all Americans," wrote Heather Earley, who is from Mount Lebanon, Pennsylvania, according to her Twitter.

"Governor Andrew Cuomo of New York, is a true leader and American. His demeanor and speech are bringing a much needed calm to this country," wrote Terri McCormick, a radio host from Nebraska.

While many people used the #CuomoforPresident hashtag to express their praise for Cuomo, some were serious – they wanted him to run for president. "I don't know how the rest of the country is feeling but, Andrew Cuomo @NYGovCuomo is officially the only President I will be listening to going forward," a user named Julie Anne, who is from California, wrote. "This man is a public servant of the highest quality. Facts and comfort Thank You Governor."

Of course, some people tweeted opposite sentiments, saying they would not support a presidential run from Cuomo. Others pointed out that the governor may be having a short moment in the sun due to this tragedy. "Cuomo is having a moment in history like Rudy Giuliani did post 9/11. Strong leader that made people feel safe in a desperate time," one Twitter user from New Jersey wrote.

Former New York City Mayor Rudy Giuliani was similarly thrust into the national spotlight after the September 11 terrorist attacks, and relied on that image during his 2008 presidential campaign.

A CBS News/New York Times poll from 2007 found that 78% of registered voters said Giuliani handled the crisis well. In the run-up to the 2008 primaries, he topped many national polls among the Republican contenders. But he never won a single primary and John McCain ultimately won the nomination.

According to U.S. News and World Report, Cuomo's approval rating has been up and down during his three terms as governor. In February 2011, he had a 77% approval rating and last month, it was 44%, according to a Siena College poll. However, data is still coming in and "anecdotally… I think we're going to see a significant rise in the way voters are viewing Andrew Cuomo right now," Siena College pollster Steven Greenberg told U.S. News and World Report.

If social media is a reflection of how people are feeling, Cuomo's image during the coronavirus outbreak is one of authority, yet hope — a role people value enough to begin visualizing his presidency.

At Cuomo's press conference on Tuesday, he was both tough and also empathetic. "My mother is not expendable, and your mother is not expendable, and our brothers and sisters are not expendable and we're not going to except the premise that human life is disposable...We're not going to put a dollar figure on human life," Cuomo said about President Trump's proposed return to normal life to help the economy, which could result in more people getting sick.

While promoting continued social distancing, Cuomo also promoted unity. "New York loves everyone...Love wins, always. And it will win again through this virus," he said on Tuesday.

Cuomo's father, Mario Cuomo, served as governor of New York for three terms and was often rumored as a possible presidential candidate. Andrew Cuomo, who is currently in his third term as governor, worked in his father's administration and served as Housing Secretary under former President Bill Clinton.

Andrew Cuomo's younger brother, Chris Cuomo, currently has his own show on CNN. In an interview with the governor about coronavirus response last week, the anchor took a break to be a brother.

"I know you're working hard for your state, but no matter how hard you're working, there's always time to call mom. She wants to hear from you—just so you know," Chris Cuomo joked to his older brother.

"I called Mom. I called Mom just before I came on the show. By the way, she said I was her favorite," the governor replied. "Good news is she said you're her second favorite — second favorite son." The Cuomo brothers have three sisters but there are only two sons in the family.

The brothers' biting banter over the past few weeks has become widely talked about – and meme'd – on social media, perhaps adding to the Cuomo fandom that sparked the #CuomoforPresident trend.

Corona Virus Update USA - Friday March 24, 2020

Story by Yahoo News
Written by Dylan Stableford

The latest on the pandemic

• Global coronavirus cases surpassed 395,000 to date, with more than 17,000 deaths.

• In the United States, there have been more than 46,000 confirmed COVID-19 cases and 600 deaths.

• The World Health Organization said the United States has the "potential" of becoming the epicenter of the virus.

• The U.S. Senate appears to be nearing a deal on a $2 trillion stimulus package to help American workers survive the pandemic.

• President Trump said he would "love" to reopen the U.S. economy by Easter.

• The 2020 Summer Olympics in Tokyo have been postponed until 2021.

• India will begin a 21-day lockdown of its 1.3 billion citizens at midnight.

• Worried you're experiencing coronavirus symptoms? Here's what the CDC says to do: https://www.yahoo.com/lifestyle/worried-youre-experiencing-coronavirus-symptoms-heres-what-the-cdc-says-to-do-203952935.html

• Shelter in place, stay at home, quarantine: What do coronavirus restrictions mean? https://news.yahoo.com/shelter-in-place-stay-at-home-quarantine-what-do-coronavirus-restrictions-mean-145017819.html

• Want some uplifting stories? Click here: https://news.yahoo.com/coronavirus-good-news-192846810.html

Trump Says Country Will Be “Open for Business Very Soon” Despite Skyrocketing COVID-19 Infections

Story by Democracy Now

President Trump said America will be “open for business very soon,” and suggested the U.S. could dramatically change its approach to handling the pandemic.

President Donald Trump: “We cannot let the cure be worse than the problem itself. We’re not going to let the cure be worse than the problem. At the end of the 15-day period, we’ll make a decision as to which way we want to go, where we want to go, the timing. And essentially, we’re referring to the timing of the opening, essentially the opening of our country.”

Trump’s message was in stark contrast to the United Nations, public health experts and other heads of state around the world. This is Canadian Prime Minister Justin Trudeau Monday.

Prime Minister Justin Trudeau: “We’ve all seen the pictures online of people who seem to think they’re invincible. Well, you’re not. Enough is enough. Go home and stay home.”

And this is British Prime Minister Boris Johnson Monday.

Prime Minister Boris Johnson: “From this evening, I must give the British people a very simple instruction: You must stay at home, because the critical thing we must do to stop the disease spreading between households.”

Trump also said if solving the pandemic were up to doctors, they would “keep [the world] shut for a couple of years.” This comes as reports say Trump is growing impatient with Dr. Anthony Fauci, head of the National Institute of Allergy and Infectious Diseases, who has had to correct Trump’s repeated falsehoods about the pandemic. Fauci was not present at Monday evening’s press briefing.

Read More: https://news.yahoo.com/coronavus-trump-says-destroy-country-171629269.html?soc_src=hl-viewer&soc_trk=fb

44-Year-Old Black N Mild, New Orleans Bounce DJ, Dies of the CoronaVirus.

Black N Mild (Olivers Stokes Jr.) died from the CoronaVirus

Story by Inside Radio

The coronavirus has claimed the life of a prominent New Orleans bounce DJ and radio personality.

Black N Mild, according to multiple media reports, died Thursday after a positive coronavirus test. Black N Mild, who was born Oliver Stokes Jr., was 44 years old.

According to an obituary in Billboard, Stokes is known for bringing bounce music — a brand of New Orleans hip-hop — to the radio.

Stokes’ “Rhythm and Bounce” show aired on Saturday nights from 2013 to 2017 on the New Orleans AM station WBOK.

A father of four, he also worked at a charter school in New Orleans, where he served as a counselor. He left school with a fever on March 9.

A report by nola.com — the online home of the New Orleans Times-Picayune — said Stokes chronicled the early stages of his illness on social media. He checked in to a local hospital on March 9 with a temperature of 102.4 degrees.

Stock market news live: Wall Street roars at the open as investors bet on coronavirus rescue bill

Story by Yahoo News
Written by Emily McCormick,Javier E. DavidandNishant Mohan

Live Video Link: https://finance.yahoo.com/news/stock-market-news-live-updates-march-24-2020-221411642.html?.tsrc=fin-notif

Stocks surged Tuesday, recouping some losses as market participants anxiously awaited further fiscal stimulus measures from policymakers to combat the economic fallout from the coronavirus pandemic.

During pre-market trading, contracts of each of the S&P 500, Nasdaq 100 and Dow Jones Industrial Average rallied about 5% to hit their upper trading limits, which are established each day by CME Group. The indices were pinned to “limit up” as of Tuesday morning, with about two hours to go until the opening bell.

Monday was yet another ugly day on Wall Street, which saw the Dow erase nearly all of its gains from the presidential election day in November 2016. It capped a second straight session in the red after the U.S. Senate again failed to approve a nearly $2 trillion economic rescue package, disappointing investors hoping to see a speedy authorization of the relief legislation.

Late Monday, House Speaker Nancy Pelosi unveiled a $2.5 trillion coronavirus economic rescue package as a countermeasure to the Senate’s polarized debate. She signaled optimism on Tuesday that the warring parties were closing in on an agreement.

The repeat stalling of the Senate bill came just hours after the U.S. Federal Reserve unleashed its own set of new and extensive measures to help keep corporate credit flows and other critical parts of financial markets functioning smoothly. The new program included unprecedented measures from the Fed, including purchases of eligible corporate bonds from companies and exchange-traded funds, and purchases of commercial mortgage-backed securities.

“With the Fed now all-in and then some, the onus will be largely on fiscal policy to provide any further support for consumers and businesses,” Ben Ayers, senior economist for Nationwide, said in an email Monday. “Early signals suggest widespread layoffs and cutbacks by businesses with the sudden economic stop seen across the globe, necessitating further action to cushion the harm to the economy.”

Damage from the outbreak has taken a massive toll on small and local businesses, as well as the country’s largest corporations, as residents practice social distancing and shun leisure and travel. These huge, if temporary, societal changes have been aimed at slowing the spread of the coronavirus, which has sickened more than 46,000 U.S. citizens as of Tuesday morning, according to Johns Hopkins data.

The ensuing business disruptions and economic uncertainty has weighed heavily on risk assets, with the S&P 500 tumbling by about 34% from its recent closing high on February 19.

Panthers expected to release Cam Newton Today, per reports

Story by CBS Sports
Written by Bryan DeArdo


The Panthers are expected to release Cam Newton as early as Tuesday, according to NFL Network's Tom Pelissero. The Panthers announced earlier this month that they were giving Newton, the team's starting since the 2011 season, permission to seek a trade.

Instead of a trade, Newton will now get a chance to choose his next team on the open market. Newton is coming off a foot injury that kept him sidelined for the majority of the 2019 season. Newton, the 2010 Heisman Trophy winner, won league MVP honors in 2015 after helping the Panthers win 15 regular season games en route to an appearance in Super Bowl 50.

CBS Sports' Jonathan Jones reported on March 18 that the Panthers received interest from the Chicago Bears, but the "expectation is that Newton will be released in the coming days."

Ten years ago, today - Affordable Care Act "Obamacare"...

Hi Kirk,

The events of the past month remind us that as a community, we all have an obligation to look out for one another.

Ten years ago today, I signed the Affordable Care Act into law for that reason—that as Americans, we all deserve quality, affordable care. As Americans, we take care of each other.



When I ran for President in 2008, one of the first promises I made was that I would pass a law that moved us toward universal health care in my first term. It was a pledge informed by the stories I heard on the campaign trail and reinforced by the letters I would read in the White House: parents denied coverage due to a pre-existing condition; young people left without health insurance after finishing school; entrepreneurs and small business owners unable to afford coverage for their workers.

Those stories reflected the complexity of America’s fractured health care system. But the reason I pushed for what became the Affordable Care Act was a simple, deeply held conviction: In the richest country on Earth, high-quality, affordable health care shouldn’t be a privilege for a few; it should be a right for all.

Since then, the Affordable Care Act has helped millions of Americans access care, lower their health care costs, and receive treatment—Americans who would have been left on their own in the old system. In just a few years, it covered half this country’s uninsured. That’s not to say it was perfect—no major piece of legislation is—but it saved lives, expanded access, cut down on medical-related bankruptcy, and made our nation healthier and more equitable. It is progress worth protecting and building on until we finish the job of covering every single American once and for all.

Coronavirus Crisis Highlights Racial Disparity in Healthcare and Economy

Story by the National Urban League

Federal Response Must Include Targeted Relief to Hardest-Hit Communities

Marc H. Morial
President and CEO
National Urban League


“Far too many African Americans still struggle to lead healthy and economically secure lives. This is due to the long-standing effects of racism, which touches all African Americans, regardless of socioeconomic status. These effects can be reversed, but it will take real commitment and systemic change. It shouldn’t have taken an international pandemic to prove to America’s leaders what civil rights activists have known all along: a system in which people can’t afford to seek medical care and are forced to go to work sick is a recipe for national disaster.” – Jamila Taylor, Director of Health Care Reform and Senior Fellow, The Century Foundation

At every point along our health care and economic systems, Black Americans are more vulnerable to the most serious effects of the coronavirus crisis. We are more likely to have underlying health complications, like asthma. Our complaints are less likely to be taken seriously by medical professionals. We are less likely to receive treatment for our complaints. Even with treatment, we are less likely to experience positive outcomes. The high level of disparity erodes Black Americans’ trust in the health care system.

Although the Affordable Care Act extended health insurance to 2.8 million African-Americans, 9.7 percent remained uninsured in 2019, compared with 5.4 percent among whites. Out-of-pocket health care expenses represent 20% of household income for Black families, compared with 11% for white households.

Several months ago, researchers found that a process used to guide health care decisions for millions of people was beset with racial bias, drastically underestimating the needs of the sickest Black patients.

According to the Washington Post:

The algorithm wasn’t intentionally racist — in fact, it specifically excluded race. Instead, to identify patients who would benefit from more medical support, the algorithm used a seemingly race-blind metric: how much patients would cost the health-care system in the future. But cost isn’t a race-neutral measure of health-care need. Black patients incurred about $1,800 less in medical costs per year than white patients with the same number of chronic conditions; thus the algorithm scored white patients as equally at risk of future health problems as black patients who had many more diseases.
Because of systemic barriers, African Americans receive less health care – so the algorithm identified Black patients as less in need of care, creating a vicious cycle of neglect.

We cannot allow this neglect to continue in the face of a deadly epidemic. We must insist that testing and treatment are available in underserved low-income neighborhoods and communities of color, and that the care is commensurate with that offered in other communities.

The nation’s two-pronged response – delivering health care and economic relief – presents a unique opportunity to address bias and disparity and, and to begin to build a more equitable system.

The National Urban League is leading the effort to shape the nation’s response so that the communities hardest hit by the crisis are not overlooked. We are working with Congressional leaders to ensure that coronavirus response legislation must take racial equity into account – not just in the wake of the crisis, but permanently.

Black families need access to quality, affordable health care – not just now, but all the time. Schoolchildren need broadband access - not just now, but all the time. Workers need paid sick leave, paid family leave and unemployment compensation – not just now, but all the time.

Times of crisis expose the cracks in an institution’s structure. Now is the time to repair them.

Urban One Reports ‘Difficult’ Q4, Warns Of Covid-19 Cancellations.

Story by Inside Radio

In what CEO Alfred Liggins called a “difficult quarter,” Urban One’s radio division revenues fell 11.6% to $45.0 million during fourth quarter 2019, compared to $50.8 million one year earlier. Radio ad revenues declined 9.2% to $48.4 million from $53.3 million, mainly due to the loss of political. Excluding political, same station radio billings were down 2.9%.

Radio took the biggest hits in Baltimore, Cincinnati, Cleveland, Columbus, Detroit, Indianapolis, Philadelphia, Raleigh and St. Louis with Dallas showing growth. Detroit revenues were down because the company sold urban AC WDMK-FM in August 2019.

Billings at Reach Media, which syndicates shows from Rickey Smiley, DL Hughley, Russ Parr and others, tumbled 14% to $8.0 million from $9.3 million.

Urban One posted a Q4 loss of $7.9 million, or 18 cents a share, after posting a profit for the same period a year ago.

The company posted total revenues of $105.9 million for the quarter, down 6.8% from a year ago. Broadcast and digital operating income was $34.3 million, a drop of $10.3 million compared with the same period in 2018.

Revenues at the company’s TV One cable segment dipped 2% to $44.8 million compared to $45.9 million for the same period in 2018, mainly due to soft ad sales. Cable TV affiliate fees were flat.

Digital and events were bright spots. Digital revenues rose 6% to $8.6 billion from $8.1 billion in Q4 2018 while events and other revenue grew 71.4% to $3.4 billion.

In a press release Friday morning ahead of the company’s earnings call with investors, Liggins said the 2.9% same-station radio revenue dip was “in line with our previously reported low-single digit decline in core pacings. With tough political comps (-83.5%) this made for a difficult quarter, but in line with expectations.”

For the full year, Urban One reported profit of $925,000, or 2 cents per share. Revenue was $436.9 million.

First quarter 2020 got off to strong start with January and February radio revenues up, thanks to robust political spending. But the Covid-19 outbreak “has reversed that growth, with cancellations from clients whose businesses revolve around events, travel, leisure and entertainment,” Liggins said. “On a same station basis our radio division is currently pacing up mid-single digits including political, and down low single digits excluding political revenue.”

Because of the pandemic, Urban One has postponed Tom Joyner's Fantastic Voyage cruise, a big moneymaker for the company, which Liggins warned will impact Q2 revenue and cash flow. “We are monitoring all of our larger public events with a view towards mitigating risk and keeping our employees, clients and listeners safe,” Liggins said.

United States of America Senator Ben Cardin (MD.) response to Proposed COVID-19 Stimulus Package

FOR IMMEDIATE RELEASE
March 20, 2020
CONTACTS: SUE WALITSKY 202-224-4524/TIM ZINK 410-962-4436

Cardin Response to Proposed COVID-19 Stimulus Package

“We should focus on ensuring capital to pay your household bills, to pay your workers, to stay open, to stay viable.”

WASHINGTON – U.S. Senator Ben Cardin (D-Md.), Ranking Member of the Senate Small Business and Entrepreneurship Committee (SBC) and a senior member of the Senate Finance Committee, released the following statement on the third COVID-19-related package being considered by the Senate.

“Our first priority is to do everything possible to keep Marylanders and everyone in this country safe. This is a public health emergency and addressing the health issues, including but not limited to increasing testing capacity, ensuring hospital surge capacity and developing a vaccine, must be paramount. The necessary public health measures that are being put in place to keep us all safe, however, are having a catastrophic financial impact on individuals, families and our economy as a whole.

“I would like to see more of the federal stimulus directed at the workers and small businesses who are getting hit the hardest during this public health crisis. We should focus on ensuring capital to pay your household bills, to pay your workers, to stay open, to stay viable. If we are going to inject such a large cash infusion into the economy, Congress also should be providing more support for the state and local governments and the health care providers and emergency response personnel who have been on the front lines of this battle. They continue to deliver essential services under difficult circumstances, while watching their revenues drop off a cliff with the rest of the economy.

“As Ranking Member of the Senate Small Business and Entrepreneurship Committee, I look forward to working with Chairman Rubio on finding the best path forward to support the small businesses who have been most affected by COVID-19 measures. With narrow margins and low reserves, small businesses depend on day-to-day cash flow, which has screeched to a halt. America’s small businesses need capital and they need it fast. My goal is to make sure funds can get directly to the small businesses most affected by the coronavirus, so they can keep their workers on payroll and stay current on their bills.”

Yesterday, Senator Cardin led Small Business Committee Democrats in introducing a broad relief package for small businesses that would provide capital to the small businesses most affected by the public health-related challenges caused by the COVID-19 outbreak. Today, he introduced legislation with Senate Finance Committee Ranking Member Ron Wyden, the Save America’s Main Street Act, which would provide immediate cash flow through a tax rebate, help businesses maintain payroll through a tax credit, and defer estimated tax payments.

Corona Virus Update USA - Friday March 20, 2020

Story by Yah00 News
Written by Dylan Stableford

The latest on the Pandemic

• The number of coronavirus deaths around the world has surpassed 10,000, with more than 240,000 people infected with the disease.

• In the United States, there are over 13,000 confirmed cases, with more than 176 deaths.

• California Gov. Gavin Newsom announced a statewide order for people to stay at home.

• Two Los Angeles Lakers and three Philadelphia 76ers have tested positive for the coronavirus, adding to a growing list of infected players in the NBA.

• President Trump said he is using the Defense Production Act to increase the U.S. supply of masks: https://www.yahoo.com/news/as-pressure-builds-trump-says-he-is-using-defense-production-act-to-increase-supply-of-masks-165731218.html

• Several U.S. senators briefed on the virus, including Intel Committee Chairman Richard Burr, sold millions of dollars worth of stock before the market took a deep dive.

• Italy's death toll has surpassed that of China's in a grim milestone of the coronavirus pandemic

• Worried you're experiencing coronavirus symptoms? Here's what the CDC says to do: https://www.yahoo.com/lifestyle/worried-youre-experiencing-coronavirus-symptoms-heres-what-the-cdc-says-to-do-203952935.html

• Want some good news? Click here: https://news.yahoo.com/coronavirus-good-news-192846810.html
_________________________________________________
Read More: https://news.yahoo.com/coronavirus-covid-19-news-and-live-updates-120246923.html

CBC Convention 2020 in Washington DC is convening as planned

CBC Founders

FOR IMMEDIATE RELEASE
March 19, 2020

CONTACT: CJ Epps
202.263.2812
Media@CBCFinc.org

CBCF Issues Statement on Status of 2020 Programming

WASHINGTON — CBCF Board Chair Congressman Cedric L. Richmond and Interim President and CEO Tonya Veasey issued the following statement regarding the coronavirus (COVID-19) pandemic and its effect on future CBCF activities and events:

“The health and wellness of the Congressional Black Caucus Foundation’s supporters, funders and alumni is extremely important to us. As the coronavirus spreads and drastically affects our lives and daily routines, the Congressional Black Caucus Foundation, Inc. (CBCF) will continue to adhere to the guidance of local and national health authorities, as well as the World Health Organization.

“As of today, the Scholarship Classic slated for June 14-15, 2020 in Cambridge, Maryland; the Annual Legislative Conference scheduled September 16-20 in Washington, DC; and other CBCF programming [tentatively] scheduled post June 1, will proceed as planned. Please stay tuned to CBCF’s social media platforms and website for any new updates or changes.

“For more than 40 years, CBCF has worked to facilitate academic, leadership and professional development opportunities for emerging black leaders. During the current pandemic, our work continues. In this critical year for our country, CBCF will persevere. Regardless of CBCF program or event status, we must continue to invest in our nation’s young people to help ensure they are competitive in the global marketplace. We cannot do it without you! Help CBCF invest in our future and educate, empower and motivate a new generation of informed and engaged leaders.

“As the CBCF team does its part to help slow the spread of COVID-19 and help make the dream of an education possible for hundreds of students, please practice healthy habits; adhere to travel restrictions; and implement social distancing.”
____________________________________

ABOUT CBCF
Established in 1976, the Congressional Black Caucus Foundation, Inc. (CBCF) is a non-partisan, nonprofit, public policy, research and educational institute committed to advancing the global black community by developing leaders, informing policy and educating the public. For more information, visit cbcfinc.org.

Democracy Now Program: Trump Continues Calling the Coronavirus “Chinese” Despite Reports of Anti-Asian Hate Crimes

Story by Democracy Now

“I would like to begin by announcing some important developments in our war against the Chinese virus. I will be invoking the Defense Production Act just in case we need it.” That was the opening line of President Trump’s news conference Wednesday afternoon. Later in the news conference, Trump was questioned by ABC News reporter Cecilia Vega on continuously referring to the coronavirus as the “Chinese virus.” A member of the administration also reportedly referred to the coronavirus as the “kung-flu.” Meanwhile, racist incidents and threats of hate crimes against Asian Americans have emerged across the United States, the United Kingdom and elsewhere. We get response from Elizabeth OuYang, the former president of OCA-New York, a civil rights organization where she advocated for victims of hate crimes and fair media representation of Asian Americans. She is a civil rights attorney and community advocate who teaches at Columbia and New York University.

Transcript
This is a rush transcript. Copy may not be in its final form.
AMY GOODMAN: This is Democracy Now! I’m Amy Goodman.

PRESIDENT DONALD TRUMP: I would like to begin by announcing some important developments in our war against the Chinese virus. We will be invoking the Defense Production Act just in case we need it.

AMY GOODMAN: That was the opening line of President Trump’s news conference about coronavirus on Wednesday. Later in the conference, he was questioned by ABC News reporter Cecilia Vega.

CECILIA VEGA: Why do you keep calling this the “Chinese virus”? There are reports of dozens of incidents of bias against Chinese Americans in this country. Your own aide, Secretary Azar, says he does not use this term. He says ethnicity does not cause the virus. Why do you keep using this?

PRESIDENT DONALD TRUMP: Because it comes from China.

CECILIA VEGA: A lot of people say it’s racist.

PRESIDENT DONALD TRUMP: It’s not racist at all. No, not at all. It comes from China. That’s why. Comes from China. I want to be accurate.

CECILIA VEGA: And no concerns about Chinese Americans in this country?

PRESIDENT DONALD TRUMP: Yeah, please, John? Please.

CECILIA VEGA: To the aides behind you, are you comfortable with this term?

PRESIDENT DONALD TRUMP: No, I have a great — I have great love for all of the people from our country, but, as you know, China tried to say at one point — maybe they stopped now — that it was caused by American soldiers. That can’t happen. It’s not going to happen, not as long as I’m president. It comes from China.

AMY GOODMAN: “It comes from China,” he said. PBS correspondent Yamiche Alcindor also questioned Trump at his news conference.

YAMICHE ALCINDOR: There are some — at least one White House official who used the term “kung flu,” referring to the fact that this virus started in China. Is that acceptable? Is it wrong? Are you worried that having this virus be talked about as a “Chinese virus,” that that might focus —

PRESIDENT DONALD TRUMP: I wonder who said that. Do you know who said that?

YAMICHE ALCINDOR: I’m not sure of the person’s name. But would you condemn the fact that “kung flu” —

PRESIDENT DONALD TRUMP: Say the term again.

YAMICHE ALCINDOR: A person at the White House used the term “kung-flu.”

PRESIDENT DONALD TRUMP: No, just the term.

YAMICHE ALCINDOR: My question is —

PRESIDENT DONALD TRUMP: “Kung flu.”

YAMICHE ALCINDOR: Do you think that’s wrong? “Kung flu.”

PRESIDENT DONALD TRUMP: No.

YAMICHE ALCINDOR: And do you think using the term “Chinese virus,” that puts Asian Americans at risk, that people might target them?

PRESIDENT DONALD TRUMP: No, not at all. No, not at all. I think they probably would agree with it 100%. It comes from China.

AMY GOODMAN: Yamiche Alcindor was referring to an incident reported by CBS White House correspondent Weijia Jiang, who describes herself in her Twitter profile as a “Chinese born West Virginian.” She tweeted on Tuesday, “This morning a White House official referred to #Coronavirus as the 'Kung-Flu' to my face. Makes me wonder what they’re calling it behind my back,” she said.

Well, for more, we’re joined by Elizabeth OuYang, the former president of OCA-New York, a civil rights group, where she advocated for victims of hate crimes and fair media representation of Asian Americans; civil rights attorney; community advocate, who teaches at Columbia and New York University.

Liz, thanks so much for joining us. Can you respond to President Trump repeatedly saying this, calling the coronavirus the “Chinese virus”?

ELIZABETH OUYANG: Certainly. There’s a big difference in saying that the virus originated in China versus calling it a “Chinese virus.” By calling it a “Chinese virus,” it is implying, for people who have limited interaction with persons of Asian descent and information about how this virus is spread, that it’s people who are Chinese, or they think are Chinese, who have this virus. And this leads to a domino effect of both economic ostracization as well as social ostracization, that leads to people not going to Chinese business establishments because they’re afraid that they have the virus, or it — on the other extreme, it leads to hate crimes, that we’ve seen, you know, from California to New York, whether it be cars being vandalized and racist graffiti scrawled all over the cars or actual physical assaults of women and men of Asian descent who people think may have the virus because they are Asian, and they’re attacked, kicked, sprayed with things on the subway, all these things.

AMY GOODMAN: And then you have Republican Senator John Cornyn of Texas quick to defend President Trump’s use of the term “Chinese virus.”

SEN. JOHN CORNYN: Well, I think China is to blame, because the culture where people eat bats and snakes and dogs and things like that, these viruses are transmitted from the animal to the people. And that’s why China has been the source of a lot of these viruses, like SARS, like MERS, the swine flu.

AMY GOODMAN: Critics say Senator Cornyn wasn’t just being openly racist, he’s also bad at geography. MERS stands for Middle East respiratory syndrome, which was first reported in Saudi Arabia in 2012. And the swine flu originated in the United States in 2009, before spreading around the world, according to the CDC. So, Liz OuYang, if you can talk about — further about what this means, especially as this pandemic rips through this country?

ELIZABETH OUYANG: People need to understand that pandemics and novel pathogens could come from barns of a state fair or the Astroturf of a college football field. And so, when so-called leaders defend this irresponsible — these irresponsible statements, it further fuels divisiveness and misguided information, and takes us away from where we need to be focused, and that is, helping people most vulnerable in getting the disease, elderly or people with respiratory illnesses, and making sure that they’re protected.

I’ve never been to Wuhan. And, you know, I am as frightened as my non-Asian neighbors, non-Asian-American neighbors, as well, of the disease. And we need to unite together to fight it, and not scapegoat a minority of color for this illness. As your previous speaker said, this pandemic goes beyond borders, has no racial exclusivity to it. People of all races, unfortunately, are coming down with it. And if you think only people of Chinese descent have it or may have it, then you miss the white lawyer from Miami who came to — who flew to New York and was infected.

AMY GOODMAN: Well, we want to thank you so much, Elizabeth OuYang, for joining us, former president of OCA-New York, advocate for victims of hate crimes and fair media representation of Asian Americans.

And that does it for our broadcast. I want to thank the incredibly dedicated team of Democracy Now!, most of whom are working from their homes in self-isolation. This is a very difficult time, but they are every day devoted to producing this stellar newscast, Democracy Now! Thank you to them all.
_______________________________________________________________________

See More:

Corona Virus Update USA - Wednesday March 18, 2020

Story by Yahoo News
Written by Christopher Wilson

The latest on the pandemic

• The total number of coronavirus cases has risen to more than 222,000, with about 9,100 deaths attributed to the novel virus.

• In the United States, there are nearly 9,000 confirmed cases, with more than 150 deaths.

• President Trump signed the Families First Coronavirus Response Act, which will provide paid sick and family leave for many Americans. https://news.yahoo.com/senate-plans-vote-house-coronavirus-144129706.html

• Two members of Congress, Reps. Mario Diaz-Balart (R-Fla.) and Ben McAdams (D-Utah), tested positive for the virus.

• Once the epicenter for the virus, China's Wuhan reported no new cases for the first time. https://news.yahoo.com/chinas-wuhan-reports-no-infections-014312371.html

• The Dow closed down 1,300 points on Wednesday with stocks hitting a 3-year low.

• Worried you're experiencing coronavirus symptoms? Here's what the CDC says to do: https://www.yahoo.com/lifestyle/worried-youre-experiencing-coronavirus-symptoms-heres-what-the-cdc-says-to-do-203952935.html

How to strengthen your immune system to fight viruses

Dr. Shiva Ayyadurai, an MIT scientist and researcher on the human immune system on why we need to focus more on healthier foods and supplements to strengthen your immune system

Stock market news live: Stocks boosted by Trump coronavirus stimulus plans; Dow rockets over 1,000 points

Story by Yahoo Finance
Written by Emily McCormickand and Javier E. David

Stocks surged on Tuesday, offering some respite from the prior session’s gruesome sell-off that saw the Dow Jones Industrial Average post its largest-ever point drop, and its worst sell-off on a percentage basis since Black Monday of 1987.

[Read more: Coronavirus jitters send Dow swooning to worst-ever point loss, closes at near 3-year low]

The coronavirus pandemic continues to keep investors on edge, as one major economy after the other shuts its borders to stem the outbreak. And Tuesday’s move was not enough to undo the damage wrought by a viral outbreak that has a stranglehold on the world’s economy — and driven stocks from record highs to a bear market in just under a month.

Worldwide, the total of coronavirus infections is creeping inexorably toward 200,000 — with over 5,000 alone in the U.S. — amid a death total that is closing in on 8,000.

Volatility stemming from the outbreak has seen the Dow move up or down by 1000 points or more for 7 straight days, and 11 times total in the last month, according to Yahoo Finance data. Based on the stock market’s historically steep declines over the past few weeks, market participants have already priced in a recession, according to Fundstrat head of research Tom Lee.

“Over the past month, equity markets and financial assets broadly, have been attempting to price in the dual shock of a pandemic and the sudden collapse in oil prices (which is viewed by markets as negative given effect on high-yield and drilling-related GDP),” Lee wrote in a note late Monday.

Nevertheless, markets rallied sharply in Tuesday’s session as the Trump administration discussed further measures to help the American people and companies most hurt by the fall-out from the coronavirus pandemic, which may top $1 trillion.

Treasury Secretary Steven Mnuchin said during a White House press briefing that “the president wants to give cash now” to the public, and is discussing doing so in the next two weeks. He also said the administration “believes in keeping the markets open,” but is considering shortening market hours eventually amid the outbreak.

A day earlier, President Donald Trump had offered a grim assessment of the COVID-19 crisis, acknowledging that the U.S. “may be” heading toward a recession, and social distancing measures could drag on well into the summer months.

The U.S. government, however, has also underscored a willingness to provide at least some aid to individuals and corporations most affected by the outbreak to soften the blow to the economy as much as possible. Trump has vowed to “back the airlines 100%,” with air carriers having been hit hard by a steep drop-off in travel demand and in desperate need of government aid to survive.

In Congress, the House of Representatives unanimously passed a revised multi-billion coronavirus emergency bill Monday evening and sent it up to the Senate for a vote. The package would include at least $750 billion to combat disruptions from the coronavirus outbreak, providing funds for hospitals, expanded unemployment insurance, small businesses and food aid.

The situation overseas also continues to evolve, with the entire European Union following moves made by Italy, Spain and France to shut their borders. In North America, Canada closed its borders to most non-residents, offering some exemptions including for U.S. citizens.

As travel grinds to a halt, economists are increasingly bracing for a major hit to global GDP growth in 2020.

“In a realistic scenario where travel and tourism dropped by 50% in four or five months, annual global GDP growth would be reduced by about 0.7 percentage points,” Jennifer McKeown, head of global economics service as Capital Economics, wrote in a note Tuesday. “Indirect effects or disruption to domestic travel could make the hit even harder. What’s more, the strain on insurers and airlines is adding to the risk of a financial crisis.”

4:00 p.m. ET: Stocks claw back from the ‘new Black Monday’
Investors cheered President Donald Trump’s aggressive plan to backstop the U.S. economy with fiscal stimulus worth a reported $1 trillion, and the Federal Reserve’s latest bid to shore up stressed financial markets amid the worldwide spread of the coronavirus.
___________________________________________________________

Here’s where major benchmarks ended the day:

S&P 500 (^GSPC): +142.73 (+5.98%) to 2,528.86
Dow (^DJI): +1,048.49 (+5.19%) to 21,237.01
Nasdaq (^IXIC): +430.19 (+6.23%) to 7,334.78

Crude (CL=F): -$1.77 (-6.17%) to $26.93 a barrel
Gold (GC=F): +$49.30 (+3.32%) to $1,535.80 per ounce

10-year Treasury (^TNX): +26.9 bps to yield 0.9970%

Lone GOP congressman delays House coronavirus relief bill from moving to Senate

Story by NBC News
Written by Rebecca Shabad and Alex Moe

WASHINGTON — Rep. Louie Gohmert (photo above), R-Texas, is holding up the House-passed coronavirus relief bill and preventing it from being delivered to the Senate for a vote.

The House was expected to make technical corrections Monday to the bipartisan measure, passed by the House early Saturday, but Gohmert is insisting on reading them, a Democratic leadership aide confirmed to NBC News on Monday.

The technical corrections package has not yet been finalized and the House wants to pass it by unanimous consent because the House is on recess this week.

If one member stands in opposition, the House can’t send the bill to the Senate without bringing the entire House back from their districts to Washington for a vote. The Senate is in session this week, but schedules have been fluid because of the coronavirus outbreak.

Gohmert was among 40 Republicans who voted against the bill that overwhelmingly passed the House on Saturday and was endorsed by President Donald Trump. In a statement explaining his vote, the Texas Republican praised how Trump had negotiated the package but said, "This crucial bill was not even given the normal amount of time to debate it on the House floor."

Gohmert said that he had a number of questions he wanted answered before the vote, but there was no time. "We voted, and I truly had wanted to vote yes, but could not for a bill that created so many concerns without time to examine whether some of our language did more harm than good."

"Unfortunately, now that it has passed the House, we will find out what this bill actually does," he said. "Hopefully, the Senate will take the time to clean up the damage our bill caused and not just rubber-stamp it, so I can vote for the bill that they send back to the House."

Senate Majority Leader Mitch McConnell, R-Ky., acknowledged in a statement Sunday that the ball is in the House’s court. He said that he commends the work Treasury Secretary Steven Mnuchin did to strike the agreement and that senators from both parties are carefully reviewing the details and "are eager to act swiftly to help American workers, families and small businesses navigate this challenging time."

House Speaker Nancy Pelosi, D-Calif., who negotiated the legislation with Mnuchin, said that the legislation included free coronavirus testing, even for the uninsured, two weeks of paid sick leave and paid family and medical leave. To assist people who lose their jobs amid the outbreak, Pelosi said the bill strengthens unemployment insurance and boosts food security initiatives like food stamps.

It also increases federal funds "for Medicaid to support our local, state, tribal and territorial governments and health systems, so that they have the resources necessary to combat this crisis," she said.

Radio On Frontlines Of Providing Real-Time Info On Pandemic.

Story by Inside Radio

News/talk stations are in high gear covering the coronavirus pandemic, while music stations are also being called upon to provide the latest information, including updates on the widening cancellations of tours, concerts, sports and community events. As this extraordinary moment in history unfolds, broadcast radio is rising to the occasion.

Radio is reacting and adjusting to the crisis in real time. It’s an unprecedented event that has programmers switching into crisis mode to provide the latest information, which is affecting all aspects of life, from entertainment to sporting events and political gatherings, to simple tasks such as getting groceries.

Planning a course of action is crucial in any crisis. Radio has been at the forefront of informing citizens through disasters before – from tornadoes, hurricanes, earthquakes, floods and wildfires to 9/11 and the days, weeks and months that followed. However, “this situation feels very much unlike other disasters that have impacted the U.S.,” Fred Jacobs writes on the Jacobs Media blog. “This one is approaching us like a slow-moving tidal wave.”

Steve Butler, former Program Director of Entercom news KYW Philadelphia and Adjunct Instructor at Temple University's Klein College of Media and Communication, tells Inside Radio the first step should be an all hands-on deck meeting. “Find out how this crisis could, or is already affecting [your staff’s] everyday lives… fear of closed schools, childcare issues, the kids’ soccer league, sick leave questions….” Butler says you’ll leave the room with “50 or so ideas in no time.”

Entercom Senior VP of Programming Jeff Sottolano says the company’s news outlets are broadcasting “around-the-clock coverage of press conferences, expert interviews, and news tailored to the community.” Entercom also activated its national network of radio stations and are sharing news content and updates.

While it is very much a news event, music radio should also be providing information to their listeners. “I can see music stations also doing something informative. I think you need to act now with a short-form feature that airs multiple times a day – maybe even in a regular spot in the hour – with info about how people and institutions are dealing with the crisis,” Butler offers.

That’s exactly the course of action Hubbard classic rock “The Drive” WDRV Chicago took as it “launched an hourly ‘COVID-19 Chicago Update’ series, which runs adjacent to stop-sets every hour from 6am-7pm,” PD Rob Cressman explains. The reports are delivered by Jill Egan, Executive Producer of the “Sherman & Tingle Show” during morning drive and Bob Stroud’s midday show. Janda, co-host of “The Seaver and Janda Show,” handles the updates through 7pm. “Every report is live and consists of the latest local and national headlines along with brief details on WDRV promotional events and activities which have been postponed or canceled in the interest of public safety,” Cressman continues.

In its Local Radio Pandemic Checklist, Paragon Research says, “Music stations should continue to be a source of entertainment and a respite from the news, but also consider a branded hourly update,” similar to what The Drive has done. The Paragon checklist provides suggestions and guidelines, from how to re-shape your e-newsletter to what advertising or underwriting should be pulled. “This is a time for local radio to come together and for all of us to collaborate,” Paragon founder Mike Henry writes on the company website.

Street Teams On Stand-By.

On Thursday morning (March 12), Beasley Media Group country WXTU Philadelphia broke the news to listeners that the evening’s Dan + Shay concert at Wells Fargo Center was postponed. The band’s busses were seen leaving the venue overnight and news broke that the venue was closed for cleaning following the Sixers-Pistons basketball game. The Pistons played the Utah Jazz on Tuesday (Match 10), where Jazz player Rudy Gobert tested positive for coronavirus, leading to the suspension of the rest of the NBA season.

Sottolano says Entercom has “been closely following safety guidelines shared by officials in response to the virus” and is evaluating events, appearances, and live remotes “on a case-by-case basis.”

Cressman has also been following the guidance of public officials. To protect the safety of loyal fans, WDRV canceled its weekly Traveling Thirsty Thursday happy hour event and postponed The Fourth Annual St Patty’s Pub Crawl, originally scheduled for Saturday afternoon, March 14.

Meanwhile, some SAG-AFTRA members are being advised that they should not attend events away from the station if they feel uncomfortable doing so. “Union members worried about coming into work due to possible contamination may be able to use special paid leave, depending on individual contracts,” the union said in an email to members. “These instances would be particular to individual and station contracts and agreements. – Jay Gleason

12 Tips For Creating A Safer Radio Studio In A Coronavirus Reality.

Story by Inside Radio

The normal flu season may be enough to have air personalities on edge in a studio, but the Covid-19 outbreak may be taking that to a whole new level. From microphones just inches from a host’s mouth to studio boards touched by many, there’s lots of potential ways to transfer a virus. What can stations do?

We put that question to Kirk Harnack, a Senior Systems Consultant at studio equipment seller The Telos Alliance. Here 12 tips that he shared.

Gloves Aren’t Just For Hospitals. Step into many big retail chains today and you may notice employees wearing blue gloves as a way to protect themselves from contaminated surfaces. It’s something Harnack says could work inside a radio station studio, too. “They don’t prevent you from doing your job and my experience has been good with touchscreens,” he says. “This doesn’t require you to clean everything, although that’s still a good idea. It protects you.” A box of 200 blue nitrile gloves that are latex and powder-free costs about $19 online.

Bring your own headphones. The investment that had seemed like a luxury may now be a health safety maneuver some personalities at risk may want to consider.

Don’t touch the mic. Even in the healthiest of times, engineers say touching the microphone is a bad move. “Some jocks just have that habit of wiggling it around while they’re clearing their throat – that’s how mic arms get worn out,” says Harnack. “Don’t touch the mic, leave it where it is.”

Get a mic muff for each employee. The cost may be $20 per muff for standard mics, but Harnack says the muff doesn’t need to be the exact model for the mic that’s in the studio. “There are generic mic muffs that are in the $10-$12 range,” he says.

Make sure there’s hand sanitizer in the studio, even if it means bringing your own.

Wipe it down. While disinfecting wipes have suddenly become tough to find at the store, they’re worth finding. Harnack says a lot more things in a studio can be wiped down without becoming damaged than some might think. “Just wipe down the audio console, mic arms, headphone jack areas – the things you are going to touch – like the knobs and keyboards,” he says. Harnack says of special attention should be the headphone and speaker volume controls. “Those are probably touched more than anything else in the room,” he says. Telephones should get wiped-down too. Harnack thinks it might even be a good time to replace the keyboard and mouse with ones that are easier to keep clean. And perhaps even do it every few weeks, depending on their use. “Keyboards and mice are generally really cheap now,” he points out. And don’t forget the mousepad.

Don’t spray the touchscreen. A good rule of thumb according to Harnack is don’t use cleaning or disinfecting sprays on any studio equipment that has slots in them, such as an audio console with faders that move up and down. “Don’t use a Lysol spray on them but use Clorox wipes all you want. And if you use the wipes, you don’t have to worry about over-spray,” he says. “Alcohol is fine for any surface that’s in a modern broadcast facility.” He says it doesn’t require any special types – anything you can find in the supermarket is just fine. “But I wouldn’t spray Lysol on stuff,” he adds. “If it’s not electronics, you can spray the tabletop or doorknobs with Lysol – you can do that.”

If you’re sick, stay home. In an effort to slow the spread of the coronavirus, experts are urging people who are not feeling well to self-quarantine as the only effective way to keep the coronavirus epidemic at bay. “If you’re sick, don’t come in to do your shift,” says Harnack. He points to the off-color but appropriately named #StayTheFuckHome movement that has swept social media and spawned a website with a full explanation for why remaining at home is the best decision. There are also these workplace guidelines from the Centers for Disease Control.

Take work home instead. “A lot of jocks do their voice-tracking at the studio, but a lot of jocks also now do it at home,” Harnack says. “If you’re not set up to do it at home, now is the time to get with your engineer, find out what you need to order, get a decent microphone or headset, a USB converter into your laptop, and you could be in business for a couple hundred bucks.” He says companies like Telos offer technology that allows voice-tracking be done remotely. “One of our best clients does talk shows and runs ball games from home, and he’s hundreds of miles from the station he owns,” says Harnack.

Practice good cough and sneeze etiquette. Cover your mouth when you cough or sneeze is what parents teach their kids. In a confined space like a radio studio that may be even more important. “There needs to be tissues in every room, in the studios, offices, lounges – and a trash can,” Harnack suggests.

Don’t touch your face. “If you don’t touch your face, you could put off all the things that I mentioned if you’re just wearing disposable gloves and you don’t touch your face,” he says.

When the air shift is over, wash your hands.

Nancy Pelosi says Bernie Sanders shouldn’t drop out of race (Did Nancy Pelosi just enforse Bernie)

Speaker Nancy Pelosi wants to see Sanders and Biden race play out

Story by New York Post
Written by Bob Fredericks

Nancy Pelosi said Thursday that she did not want Bernie Sanders to drop his now-long-shot candidacy for the Democratic presidential nomination — and that she was looking forward to his debate Sunday with Joe Biden.

“In case you were going to ask, no, I don’t think Bernie Sanders should get out of the race. I think — I’m a grassroots person,” the House speaker told reporters at the Capitol during her weekly press briefing.

“I know the enthusiasm of supporters for candidates and they want to see it play out for the ideas, the causes that the candidates advances, for the opportunity for people to show their support,” the California Democrat continued.

“I congratulate both of the candidates as they go into debate on Sunday. I wish them both well.”

Sanders, who has taken a beating in the majority of primaries this month, has big-time support among Democrats in the Golden State, where he beat Biden on Super Tuesday 34 percent to 27.2 percent, one of only four wins he scored out of the 14 contests on Super Tuesday.

The Democratic National Committee said Tuesday that the CNN- and Univision-sponsored debate set for 8 p.m. Sunday will be conducted without an audience due to concerns over coronavirus.

MLB suspends spring training, delays Opening Day at least two weeks

Story by ESPN News Service and AP

Major League Baseball is delaying the start of the 2020 regular season by at least two weeks in response to the coronavirus pandemic, the league announced Thursday.

MLB also said in a statement that spring training games have been suspended, starting at 4 p.m. ET Thursday.

Commissioner Rob Manfred and the league's owners held a conference call Thursday afternoon to formalize the plan.

"MLB will announce the effects on the schedule at an appropriate time and will remain flexible as events warrant, with the hope of resuming normal operations as soon as possible," MLB said in its statement.

MLB had been scheduled to open its season March 26, with all 30 teams in action.

Players had been awaiting a decision. On Thursday, before the announcement, Los Angeles Dodgers pitcher David Price walked into the team's facility and said: "It's gotta happen. This is so much bigger than sports. I've got two kids."

Multiple teams had already pulled scouts off the road and sent them home because of coronavirus concerns, sources told ESPN's Jeff Passan. Others have canceled all travel.

Shortly after MLB announced its decision to delay the start of its regular season, Minor League Baseball followed suit. In a statement, MILB announced that: "After consultation with medical professionals and our partners at Major League Baseball, Minor League Baseball will delay the start of the 2020 Championship Season." The minor-league season was scheduled to begin on April 9.

The MILB statement was a bit more open-ended that MLB's announcement in that there was no mention of a minimum delay. However, it said that, "We will continue to monitor the developments and will announce additional information about the 2020 season at a later date. We will work with (MLB) and our community partners to resume play as soon as it is safe to do so."

The major leagues have not had a mass postponement of openers since 1995, when the season was shortened from 162 games to 144 following a 7½-month strike that also wiped out the 1994 World Series. Opening Day was pushed back from April 2 to April 26.

If regular-season games are lost this year, MLB could attempt to reduce salaries by citing Paragraph 11 of the Uniform Player's Contract, which covers national emergencies. The announcement Thursday said the decision was made "due to the national emergency created by the coronavirus pandemic."

"This contract is subject to federal or state legislation, regulations, executive or other official orders or other governmental action, now or hereafter in effect respecting military, naval, air or other governmental service, which may directly or indirectly affect the player, club or the league," every Uniform Player's Contract states.

The provision also states the agreement is "subject also to the right of the commissioner to suspend the operation of this contract during any national emergency during which Major League Baseball is not played."

Player salaries were reduced by 11.1% in 1995 because the games were lost due to a strike.

Live Nation Cancels All Current Domestic And International Tours.

Story by Inside Radio

Live Nation is pulling the plug on current touring shows in the U.S. and internationally.

The live events promoter told employees that current arena tours will be postponed, effective this weekend. A few shows will go on as scheduled Thursday and Friday, Billboard reports. Live Nation employees are being asked to work remotely, with its Beverly Hills offices closed until the end of March.

March is a slower month for tours and the company said it will reevaluate the situation at the beginning of April, with hopes to have tours resume in May or June, as the summer concert season begins in earnest.

Some of the tours affected include shows by Billie Eilish, Jason Aldean, Zac Brown Band, Cher, Kiss, Post Malone, Tool, Lynyrd Skynyrd, Shania in Vegas and Chris Stapleton.

According to Billboard, company executives told employees there will be no layoffs due to the temporary cease in operations.