Thursday, April 2, 2020

HEADLINES AND BREW


FOX
Daily update April 2, 2020


NEWS

Fox News, Facebook To Host Coronavirus Virtual Town Hall
Fox News hosted a town hall on March 24 with President Donald Trump, Vice President Mike Pence and members of the task force at the White House ...
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Facebook and Fox News hosting virtual town hall on coronavirus pandemic using Portal devices
Mike Rowe will also appear for a segment, Facebook tells The Verge. The one-hour town hall will be live streamed on Fox News' Facebook page, Fox's ...
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Fox News Channel and Facebook to Present a Virtual Town Hall on the Global Coronavirus ...
It will also be livestreamed on FNC's Facebook page, FOX's CoronavirusNOW.com and CoronavirusNOW channel on Samsung TV Plus in addition to all ...
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Fox News sweeps top five most-watched cable news programs for first quarter of 2020
Her show also dropped an additional spot in the 25-54 age demographic, behind Fox News's The Story with Martha MacCallum, which airs at 7 p.m. ...
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Today on Fox News: April 2, 2020
CDC now says up to 25 percent of people infected with the new coronavirus may not show symptoms; insight from Fox News medical contributor Dr.
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Trump Lies About Cutting White House Pandemic Team to Dodge (Checks Notes) Fox News
“What are you, working for CNN?” the president asked sarcastically. Tonight John Roberts of FOX NEWS asked Trump about eliminating the pandemic ...
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Fox And Comcast In Long-Term Distribution Deal For Fox Channels
The renewal covers distribution of the Fox Television Stations, Fox News Channel, Fox Business, FS1, FS2, BTN, and Fox Deportes. In addition, the ...
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Trump administration sending troops to border as part of coronavirus fight
A CBP spokesperson told Fox News this month that wall construction is going ahead as scheduled, while Immigration and Customs Enforcement (ICE) ...
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Store Owner Goes on Fox News to Blast Decision to Charge Employee for Shooting
The owner of a local store went on Fox News' Tucker Carlson Tonight last night to discuss the arrest of a store employee for shooting a would-be ...
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WEB

Study: FDA fast-tracks COVID-19 treatment using stem cells
Gil Van Bokkelen, Athersys CEO, explains why there is excitement behind the study for a possible coronavirus treatment using stem cells.
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Smartphone COVID-19 test created by Sugar Land company
DetectaChem says its detection technology will provide test results for COVID-19 detection in minutes via an automated smartphone app that provides ...
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NYC streets empty amid coronavirus pandemic
Footage shows popular tourist destinations in Manhattan near empty as the city is reacting to the coronavirus pandemic.
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Fox News - New York Gov. Andrew Cuomo holds a press briefing.
Called the state budget. let me get give you an update on where I think everybody knows everyone latrice to my doctor. Howard Zucker Melissa ...
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Help Greg Fox open a recording studio in Brooklyn
I'm Greg Fox, and I'm opening a music studio in Brooklyn for tracking, rehearsal, and education. Greg Fox. First created · 2 backed. More ...
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Adorable Little Fox Is Caught Napping On A Tree Stump In Urban Canada
Usually, Sara's parents try to stay out of the fox's way. But they still run into each other! “Once, when my dad was bringing in groceries, she popped her ...
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The Ascent
Good morning. Is this happening to anyone else? The first 10 minutes of every work call—even with people we’ve never met before—is spent talking about the craziness that’s going on and always involves people comforting each other in very personal ways. Wonder if when all this ends we’ll just go back to small talk about the weather.

MARKETS


NASDAQ
7,360.58
- 4.41%
S&P
2,470.50
- 4.41%
DJIA
20,943.51
- 4.44%
GOLD
1,604.70
+ 0.51%
10-YR
0.584%
- 9.30 bps
OIL
21.21
+ 3.56%
*As of market close
  • U.S. markets: In the first trading day of the second quarter, stocks came out of the locker room like the Patriots in Super Bowl LI. Markets may have been reacting to President Trump’s admission Tuesday night that the country has a “very, very painful” two weeks ahead.
  • U.S. economy: A few more grim data points—manufacturing and private payrolls—confirmed to some economists that we’re looking at a deep, deep recession if not a depression. We'll find out weekly jobless claims this morning. 
Francis Scialabba
Strict social distancing measures intended to stymie the spread of the coronavirus have nearly drowned many of the U.S.’ small businesses. Their life raft—$349 billion worth of loans from last week’s stimulus bill—will be available starting tomorrow, say Trump administration officials.
The flow chart: Funds from the Treasury Department → the Small Business Administration (SBA) → lenders → bruised small businesses
The problem: The need is enormous, and two links in that chain, the SBA and lenders, may not be ready to meet it. 
The Small Business Administration wasn’t exactly Agency of the Month to begin with—its inspector general’s office found it didn’t get loans out the door fast enough after Hurricane Harvey destroyed much of the Houston area in 2017. 
  • To accommodate this loan program, it will reportedly have three months to process more than 10 times the dollar amount it issued all of last year. 
As for lenders...industry analysts say the tsunami of applications could overwhelm their systems. And some bankers are saying they're missing the detailed guidance necessary to get approved.

Zoom out: “Paycheck protection” is the name of the stimulus game. If small firms don’t receive help, they’ll have no choice but to cut staff, if they haven’t already. Those workers would then stop spending, knocking over an endless line of economic dominos. 

A (potential) white knight 

Jack Dorsey’s night job: fintech. Digital platforms like Numerated say they’re customizing their services for businesses applying for the loans. 
  • Many fintechs weren’t SBA-approved lenders until recently. Last week, leaders like Square CEO Dorsey pressured the government to let them ~lend~ a hand. 
  • Over the weekend, Treasury Sec. Steve Mnuchin said their hoodie-clad services were welcome. 
One (potential) silver lining: The mountain of applications may give banks a boost in fees.
        
Francis Scialabba
In our March 12 newsletter, we wrote, “We all know ‘working from home’ roughly translates to ‘rewatching The Sopranos.’” Well call us Joe Exotic because our theory was right all along.
Being stuck at home sends us straight into binge mode. Americans streamed 85% more minutes of video in March 2020 than in March 2019, according to new Nielsen data.
  • The average person has spent 36% more minutes streaming TV and movies in the last four weeks.
  • Binge watching (or watching 3+ episodes in one sitting, per the Hulu English Dictionary) has climbed more than 25% over the last two weeks.
Zoom out: Netflix claimed the biggest share of streaming minutes in the last week of March with 29% to YouTube’s 20%, Hulu’s 10%, and Amazon’s 9%. But if our newfound appreciation for binging continues post-pandemic as some media experts anticipate, this is a plus for all streamers. 
One more TV headline for the road: Hulu founder Jason Kilar was named CEO of WarnerMedia. He’s tasked with launching parent AT&T’s HBO Max streaming service—the most expensive in the streaming wars at $14.99/month—in May.
        

TECH

Big Data’s Time to Shine

There are two theaters of war against the coronavirus: 1) the low-tech, which is us doing jigsaw puzzles and not touching our faces, and 2) the high-tech, which is governments and powerful companies using the latest database tools to trace the virus’s spread and plot the response. 
One of those powerful companies is Palantir, the Peter Thiel-founded, Silicon Valley big data giant that's been valued at $20 billion. It’s currently pitching its data mining services to governments across Europe, reports Bloomberg.
That would signal an expansion of its already extensive involvement in coronavirus tracking:
  • Palantir has been modeling the outbreak for the CDC as part of a long-term contract with the agency.
  • It’s also been enlisted by the U.K.’s National Health Service to coalesce “disparate data” into a “single source of truth that will support decision-making.” 
Zoom out: Palantir, whose clients have included the CIA and FBI, will invite questions of surveillance and privacy. But as The Economist writes, “if the work is done in the open, it could be a boon.” 
        

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This week, the U.S. Coast Guard told cruise ships with passengers possibly COVID-19 positive to stay offshore “indefinitely.” 
The details: Foreign-flagged ships carrying 50+ passengers were directed to treat sick people at sea or seek help from the countries where they’re registered, since the U.S. healthcare system is already buckling.
The issue? They can’t go home. Lots of Carnival, Royal Caribbean, and Norwegian ships are registered in countries like the Bahamas to avoid U.S. tax, employment, and environmental laws—but those countries are even more strapped than the U.S. for hospital beds.
  • FYI, Carnival said Tuesday it has over 6,000 passengers still at sea, where they’ve been since at least March 13 (the date new sailings were halted).
Big picture: Already facing an indefinite slump in demand, cruise companies wanted to hear this news like you want a root canal. Carnival just upped the size of a rescue bond package backed by its ships to $4 billion...and warned it still might only have enough cash to survive eight more months.
        

MOVIES

tweet about the box office
        

WHAT ELSE IS BREWING

  • T-Mobile and Sprint officially completed their $26 billion merger.
  • U.S. automakers saw a major sales slowdown in Q1 because of the coronavirus.
  • Whiting Petroleum became the first big U.S. shale company to file for bankruptcy because of the plunge in oil prices.
  • Wimbledon has been canceled for the first time since WWII.

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BREW'S BETS

  • Like 4chan found a Bloomberg terminal. That’s the motto on the subreddit r/WallStreetBets, where 1 million members share the most horrifyingly risky stock market strategies imaginable. And in these volatile times, those bets are riskier and bigger than ever. Morning Brew’s Business Casual podcast spoke with WallStreetBets’s founder to understand the new norms in market psychology. Listen now: Apple / Spotify / everywhere else
  • The media, marketing, and advertising industries were just thrown a huuuuuge curveball with COVID-19. The Brew's head of brand partnerships Jason Schulweis walks you through his team's forward-thinking approach to the crisis with extreme transparency. It's a must-read for leaders.

CALENDAR

Your Daily Quarantine Planner: April 2

Many of you were wondering who was writing the Brew from Tallahassee. It's the panhandle's finest, Kinsey Grant. 

Morning workout

Here’s a seven-minute workout that requires nothing but a chair and the will to keep going when the side plank kicks in.

  Work playlists

Poolside in Your Mind is perfect for those aching for summertime. Alternatively, Christmas Peaceful Piano is what I, a person always aching for the holidays, listen to during work.

Lunch break, but make it productive

Do good: We’ve been writing a lot about people losing their jobs. Here’s a list of companies hiring right now.
Level up: Behold this Twitter thread from Merriam-Webster of “beautiful, obscure, and often quite useless words.”
Or don’t: Ina Garten makes a convincing case for “it’s always 5 o’clock in quarantine.” Also, she makes cosmos.

Things to send your group chat

Vulture compiled the best memes and tweets about the current state of affairs. There’s nothing funny about a pandemic-recession combo, but the world still needs comedy. 

Dinner plans

Check out Half Baked Harvest on Instagram for a mix of both health and hedonism. I’m eyeing the cheesy herb-stuffed naan, anyone with me?

 Evening activities

No screen: Birdwatching has become one of my favorite socially distanced pastimes. Check out local feeding times (which often conveniently coincide with cocktail hour), read up on the dos and don’ts, grab binoculars, and start calling yourself an amateur ornithologist.
Screen: Settle in for these nine extremely good, extremely long streamable movies The Ringer rounded up. If that’s not enough, The Atlantic has the perfect film for every stay-at-home mood.
        

NAME THE PLAYLIST

Ok, trying out an experimental trivia section today. It should be fun. 
Here's how it works: We'll give you three songs from a specific Spotify playlist. You have to name the playlist. 
  1. "Chicken Fried," "Red Solo Cup," "Alright" 
  2. "7 rings," "pete davidson," "Bang Bang" 
  3. "Don't Start Now," "Blinding Lights," "Intentions" 
  4. "Call Me Maybe," "Shut Up and Dance," "Uptown Girl" 

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NAME THE PLAYLIST ANSWER

  1. Tailgate Party
  2. This is Ariana Grande
  3. Today's Top Hits
  4. Songs to Sing in the Shower
April 02, 2020 Read in Browser

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April 02
Charlemagne, chromolithograph.
FEATURED BIOGRAPHY

Charlemagne

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John Paul II
FEATURED EVENT
2005
Death of Pope John Paul II

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Earth's To-Do List
 
MORE EVENTS ON THIS DAY
Oliveira, Manoel de
2015: Portuguese filmmaker Manoel de Oliveira, who was known for richly meditative and often self-reflexive films that were frequently inspired by literary and theatrical works, died at age 106.
Falkland Islands; Malvinas Islands
1982: Argentine troops seized the Falkland Islands (Islas Malvinas), precipitating the Falkland Islands War with Britain.
Kubrick, Stanley: 2001: A Space Odyssey
1968: Stanley Kubrick's 2001: A Space Odyssey had its world premiere in Washington, D.C.; it became a classic, setting the benchmark for sci-fi films.
Sir Alec Guinness in the title role of Macbeth (1966).
1914: British actor Sir Alec Guinness was born.
Max Ernst, photograph by Yousuf Karsh, 1965.
1891: German sculptor and painter Max Ernst , who was a leading advocate of irrationality in art, was born.
Women in mourning among the ruins in a burned section of Richmond, Virginia, April 1865.
1865: In the face of advancing Union forces, Confederate troops evacuated Richmond, Virginia, the capital of the Confederate States of America during the American Civil War .

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Big Labor Union Bosses Target Hospitals


Video
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INVESTING
The Existential Risk Of Relying On China

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China Concealed COVID-19, Just Like It Did SARS

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Tipsheet
Chinese Doctor Who Raised Alarm About Wuhan Coronavirus Has Disappeared

Dr. Oz Slams NY Gov. Cuomo: People Need Access to Chloroquine

Man Allegedly Derails Train Near USNS Mercy Ship to 'Expose' Government Conspiracy

Here's How the Democratic Media Complex Previously Compared the Flu to the Coronavirus

California Gov. Newsom: I'd Be Lying If I Said Trump 'Hasn’t Been Responsive to Our Needs'

Top US General Issues Brutal Warning to Drug Cartels Trying to Take Advantage of COVID-19 Crisis

Fines and Evictions During a Pandemic: The Unruly Power of the Homeowner Association

Trump Announces New Military Operations Against Drug Cartels

The Threat to New York City Getting Its Wuhan Coronavirus Outbreak Under Control Comes From Below

Is This a Joke? Seattle Police Chief Had to Be Kidding When She Tweeted This, Right?

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Political Cartoons
Bearing Arms
Calling Gun Grabbers "Human Rights" Activists Is Blatant Lie | Tom Knighton

Debunking Social Media Post On Negligent Discharges | Tom Knighton

Gone Too Soon: AR-15.com Founder Edward Avila Passes Away | Cam Edwards

FBI Says March Gun Background Checks Set New NICS Record | Cam Edwards

Life In The Rural Epicenter Of The Coronavirus Pandemic | Cam Edwards


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