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I plan on making a list of how different companies “stepped up” during these difficult times – Wit and Wisdom
Good morning.
Stocks are continuing to advance today … on the heels of last week’s gains … even though we were told yesterday that the number of fatalities could be more than 50 times what the total that was broadcast at end of yesterday’s session. Further, “social distancing guidelines” were extended out to the end of April.
Like most, I am scratching my head. On the positive front, companies have stepped up … are answering the call … and are accomplishing some rather remarkable things. Just two weeks ago testing (which all agree is quite important) consisted of a rather uncomfortable process … with the amount of tests limited in scope … with a result that took quite a bit of time … and tied up important medical personnel. Now we are about to receive tests that are much less obtrusive, plentiful and able to be self-administered … with an almost immediate result. I don’t want to use the phrase “miraculous” … but that word is what comes immediately to mind.
In another bit of encouraging news, we looked at the recent report … and it appears the number of deaths yesterday … although the numbers are being adjusted … might actually show a decline from the previous day. It appears that social distancing does work … although there are still some clowns (an economic term) out there gathering in groups … somehow thinking they are immune to this disease.
Meanwhile, with deaths continuing to mount, it is tough to make plans. I mean … I am supposed to go to a wedding in August. Am I going to trog to another state … spend time in a crowd … and, maybe even worse, go on a 330-mile trip with a 90-year old relative who at this moment sits safely in his home?
I’m not so sure.
But I will say one thing about my future behavior. I plan on making a list of how different companies “stepped up” during these difficult times … with the intent on rewarding them with my business after this has passed.
One example is in the last note below, as Krispy Kreme is giving free donuts to those in the medical field … Starbucks is giving free coffee … and there are, of course, a host of others – including business in every local town.
I just saw a doctor on TV tell us that at a time like this we should focus on inner peace … and to achieve this we should finish things that we started and never had time to complete.
Upon hearing this last night, I finished a bottle of Merlot and what remained in a bottle of Baileys.
Now to move on to those Oreos.
Have a good day,
Joseph G. Witthohn, CFA
Vice President
Emerald Asset Management PA, LLC
610 Freedom Business Center Drive
King of Prussia, PA 19406
#flattenthecurve
A Quick Look at the News
… as of 11:40 AM today …
Talented people can achieve great things. Just a short while after realizing more and better tests were needed, one company came to the rescue and is about to ship out 5 minute tests (Vox)
… and other creative minds are “on the case.” Dean Kamen, of Segway fame, is just one of our country’s entrepreneurs taking up the charge. (UnionLeader)
Some are not letting disruption completely bring their businesses to a halt. Do you want to “visit” a home that’s for sale? You can do it virtually (CNBC)
https://www.cnbc.com/2020/03/30/coronavirus-fallout-virtual-and-solo-home-touring-soars.html
What can a CEO do at a time like this? Show that they are accessible. This affects the happiness of employees … and might be especially needed at a time like we are in right now (Inc)
One of the saving graces while people are homebound is video games … and WHO changed its opinion … now favoring the hobby for mental health (USAToday)
… but if you are not “into” video games … and looking for something to do … you might want to set up your Amazon Echo … to supply custom answers to certain questions (CNET)
https://www.cnet.com/how-to/my-favorite-hidden-amazon-echo-trick-and-how-to-find-it/
One thing many realized over the past few weeks is just how dependent we are on others … and them on us. Companies are stepping up … making a tough situation a bit more bearable (NYPost)
https://nypost.com/2020/03/30/krispy-kreme-is-giving-healthcare-workers-free-donuts-starting-today/