Private Planes, Concierge Doctors And Germ Free Hideaways: How An Epidemic Looks Different When You’re Rich
For the rich, the threat of a pandemic might just mean a vacation in their isolated Hampton houses or Idaho cabin retreats. Meanwhile, stocks tumbled as global cases surged and economists look at the way the outbreak could affect the U.S. economy even more than China's. In other economic news: price-gouging, airlines, working from home, and more.
The New York Times:
The Rich Are Preparing For Coronavirus Differently
The new coronavirus knows no national borders or social boundaries. That doesn’t mean that social boundaries don’t exist. “En route to Paris,” Gwyneth Paltrow wrote on Instagram last week, beneath a shot of herself on an airplane heading to Paris Fashion Week and wearing a black face mask. “I’ve already been in this movie,” she added, referring to her role in the 2011 disease thriller “Contagion.” “Stay safe.” (Williams and Bromwich, 3/5)
Reuters:
Coronavirus Wreaks Financial Havoc As Infections Near 100,000
Business districts around the world began to empty and stock markets tumbled on Friday as the number of coronavirus infections neared 100,000 and the economic damage wrought by the outbreak intensified. (White and Whitcomb, 3/6)
The New York Times:
Why The Coronavirus Could Threaten The U.S. Economy Even More Than China’s
After a string of deaths, some heart-stopping plunges in the stock market and an emergency rate cut by the Federal Reserve, there is reason to be concerned about the ultimate economic impact of the coronavirus in the United States. The first place to look for answers is China, where the virus has spread most widely. The news has been grim with deaths, rolling quarantines and the economy’s seeming to flat line, though the number of new cases has begun to fall. (Goolsbee, 3/6)
The New York Times:
‘Almost Without Precedent’: Airlines Hit Hard By Coronavirus
Empty jumbo jets arriving at deserted airports. Masked passengers disinfecting their own seats. Stone-faced airline executives huddling with President Trump. With the coronavirus outbreak continuing to spread around the globe, the aviation industry is being jolted. Airline stocks dropped sharply on Thursday as investors reckoned with the prospect of canceled flights, lost sales and substantial reductions in service for months to come. Several carriers — including United Airlines, Jet Blue and Lufthansa — announced new route closings in recent days. An industry trade group said the coronavirus could wipe out between $63 billion and $113 billion in worldwide airline revenues this year. (Gelles and Chokshi, 3/5)
The Wall Street Journal:
Amazon Dogged By Price Gouging As Coronavirus Fears Grow
Amazon is struggling to stamp out third-party sellers charging exorbitant prices for virus-killing cleaning supplies, hand sanitizer and other products in high demand amid coronavirus fears. The company said it has removed tens of thousands of items because of unreasonably high prices and it is taking action against sellers making unsubstantiated claims. “There is no place for false claims and price gouging on Amazon,” Dharmesh Mehta, Amazon’s vice president of world-wide customer trust and partner support, said Wednesday at a consumer-protection hearing in Washington, D.C. (Terlep, 3/5)
The New York Times:
Workplace Vs. Coronavirus: ‘No One Has A Playbook For This’
At Facebook on Thursday, the questions from spooked employees came thick and fast. The evening before, the social network had disclosed that the coronavirus had been diagnosed in a contractor in its Seattle office and had said all employees in that city should work from home until March 31. Other Facebook employees, some of whom had recently traveled for work, soon began asking their managers and one another: Who was the contractor? Had that person been near them? And what did that mean for their work? (Isaac, Yaffe-Bellany and Weise, 3/5)
The Washington Post:
Work From Home In The Coronavirus Era: It's Coming To A Couch Near You
For a taste of what's in store for Americans, look to Hong Kong, where businesses have been enforcing work-from-home arrangements for six weeks due to coronavirus fears. The social experiment of teleworking en masse has unearthed pitfalls, comical moments and potential opportunities. With the virus hitting the United States and Europe, millions more will likely need to crowd into homes with children and spouses while finding a way to stay productive. (Mahtani, 3/6)
PBS NewsHour:
How The IMF Is Trying To Reduce The Economic Fallout Of Novel Coronavirus
Restrictions intended to control the global outbreak of novel coronavirus continue to increase. In many countries, schools are closed, travelers face quarantine and business has ground to a halt. (Brangham, 3/5)
Kaiser Health News:
With Coronavirus Lurking, Conferences Wrestle With Whether To Cancel
Nearly 100,000 pop culture fans flocked to Emerald City Comic Con in Seattle last year, including many dressed as superheroes, aliens and robots. But something scarier than a comic book villain is roiling the conference this year — the spread of the coronavirus. Ten people have died from novel coronavirus in King County, Washington, where Seattle is located, according to the Washington State Department of Health. At least 70 people have tested positive statewide. (Szabo, 3/6)
Atlanta Journal-Constitution:
Health Group Set To Host Trump Scraps Conference Over Coronavirus Fears
The impact of the Coronavirus hit the White House travel schedule on Thursday, as a global health care group cancelled a conference set for next week in Orlando, Florida, where President Donald Trump had been set to speak on Monday. (Dupree, 3/5)
