There should be a national dialogue in getting back to work

[Buffalo_Gal]

56 minutes ago, 3rdnlng said:

So, how is this pause between phases any different than Purgatory? Isn't it just the same as extending Phase 1? 

?‍♂️

 

[B-Man]

 

 

BOSTON MARATHON CALLED OFF OVER CORONAVIRUS, RACE WILL BE ONLINE ONLY.

 

“Boston Athletic Association officials said they plan a ‘historic virtual marathon.’”

 

More details at the Boston Athletic Association Website:

[Pine Barrens Mafia]

6 minutes ago, B-Man said:

 

 

BOSTON MARATHON CALLED OFF OVER CORONAVIRUS, RACE WILL BE ONLINE ONLY.

 

“Boston Athletic Association officials said they plan a ‘historic virtual marathon.’”

 

More details at the Boston Athletic Association Website:

Virtual. Marathon.

 

Good God.

 

[RochesterRob]

  Erie County Fair cancelled for 2020.  A loss of income for local vendors and probably not the only cancellation for national vendors and entertainment providers.

[B-Man]

3 minutes ago, RochesterRob said:

  Erie County Fair cancelled for 2020.  A loss of income for local vendors and probably not the only cancellation for national vendors and entertainment providers.

 

 

Over 10 weeks away.

 

 

?

[RochesterRob]

9 minutes ago, B-Man said:

 

 

Over 10 weeks away.

 

 

?

  Not my thing anymore but a county fair can be a pretty big deal to some kids.  I'm surprised that whoever runs the fair made a call to cancel this far ahead of when it was to run.

[Buffalo_Gal]

2 hours ago, Joe in Winslow said:

Virtual. Marathon.

 

Good God.

 

Hush-up.  This is my only chance win finish compete pretend I am a runner.

 

[Koko78]

1 hour ago, RochesterRob said:

  Erie County Fair cancelled for 2020.  A loss of income for local vendors and probably not the only cancellation for national vendors and entertainment providers.

 

They cancelled the Genesee and Wyoming County fairs as well.

[3rdnlng]

1 hour ago, Buffalo_Gal said:

Hush-up.  This is my only chance win finish compete pretend I am a runner.

 

We've got a runner, men. Break out the hounds.

[keepthefaith]

4 hours ago, OldTimeAFLGuy said:

....are you kidding me??...MS-DOS?......I have a 386SX-16 or IBM 8088 computer for sale if you're interested.......

 

NYS using MS-DOS to process unemployment claims

Jennifer Lewke
Updated: May 26, 2020 06:11 PM
Created: May 26, 2020 03:03 PM 

 

 

 

ROCHESTER, N.Y. (WHEC) — The New York State Labor Department says it has now paid out $10 billion in unemployment benefits to 2 million New Yorkers, but as so many of you know, the process has not been a smooth one.

 

News10NBC Investigative Reporter Jennifer Lewke has been exposing major issues with the unemployment system for weeks and now she is in possession of an internal training video that shows just how antiquated the system is. 

 

Hundreds, if not thousands of New Yorkers have contacted News10NBC over the past two months, people who lost their jobs due to the pandemic and have been struggling to get the unemployment benefits they are entitled to. When non-essential businesses were closed, New York’s unemployment system was crushed with claims. Making matters worse, that system is antiquated at best, archaic to most. 

 

In June 2017, when asking for bids to update the system, the Labor Department wrote in an RFP, “the state has faced the pressing problem of maintaining, modifying, and extending outdated and expensive mainframe-based UI benefits and contributions systems that were written in the 1970’s and 1980’s and remain constrained by the technology of that era.”

 

https://www.whec.com/news/nys-using-ms-dos-to-process-unemployment-claims/5741693/

 

How much for the IBM and is it a PC or XT?

[Taro T]

4 hours ago, B-Man said:

 

 

BOSTON MARATHON CALLED OFF OVER CORONAVIRUS, RACE WILL BE ONLINE ONLY.

 

“Boston Athletic Association officials said they plan a ‘historic virtual marathon.’”

 

More details at the Boston Athletic Association Website:

 

So, rather than LightBrites shutting down Boston, will it be Ms PacMan now?

[Magox]

If there was any shred of doubt whether or not Sweden took the right approach, you can officially eliminate that doubt now.

 

Quote

 

The Swedish economy expanded at a far superior rate than many of its European counterparts over the first three months of the year, data published Friday showed, following the government’s decision not to impose a full lockdown to contain the spread of the coronavirus.

The Nordic country’s statistics office reported gross domestic product (GDP), the broadest measure of economic health, grew at an annual rate of 0.4% in the first quarter. 

 

 

 

They actually grew!

 

 

[Magox]

Whoah!

 

There will be pent up demand.  Just got to get them back to work.

 

 

[OldTimeAFLGuy]

12 minutes ago, Magox said:

Whoah!

 

There will be pent up demand.  Just got to get them back to work.

 

 

 

…...and so Big Fredo hits the "pause" button for today as of late yesterday afternoon.....SMH...…..

 

Finger Lakes region not entering Phase Two on Friday

 

WHECTV
Updated: May 29, 2020 08:42 AM
Created: May 29, 2020 04:16 AM

ROCHESTER, N.Y. (WHEC) — Phase Two appears to be on pause, at least for another day.

Many of you expected to wake up on Friday morning to find a number of reopened businesses in the Finger Lakes region, but that isn't the case. 

This news is not sitting well with some local retailers who were poised to open Friday morning. Some of these stores have been closed for more than two months.

Business owners told News10NBC's Andrew Hyman they question if the state is being completely transparent. Many expected more communication on all the health and safety guidelines they need to follow and that they would reopen today.

https://www.whec.com/coronavirus/phase-two-will-not-start-friday/5744432/?cat=565

 

 

[snafu]

16 hours ago, Joe in Winslow said:

Virtual. Marathon.

 

Good God.

 

 

Here’s the virtual marathon winner:

 

[GG]

19 hours ago, Magox said:

I just alluded to this in my previous post.  Corporate bond market is gonna get awfully hairy in the next 3-18 months.   Luckily for them, the federal reserve will backstop it.

 

I wouldn't count on that.  Fed is "backstopping" it with zero interest rates.  The high end of the corporate bond market is going gangbusters, where no additional support is needed.  On the other end of the corporate debt pole, are deeply indebted companies that are owned by the buyout shops.  Don't expect Fed support for those cases.  That's where the defaults are going to come in, because liquidity is starting to evaporate for the weaker companies.  S&P just raised their default expectations to 12.5% for 2020 and Moody's is above 13%.

 

[Magox]

1 minute ago, GG said:

 

I wouldn't count on that.  Fed is "backstopping" it with zero interest rates.  The high end of the corporate bond market is going gangbusters, where no additional support is needed.  On the other end of the corporate debt pole, are deeply indebted companies that are owned by the buyout shops.  Don't expect Fed support for those cases.  That's where the defaults are going to come in, because liquidity is starting to evaporate for the weaker companies.  S&P just raised their default expectations to 12.5% for 2020 and Moody's is above 13%.

 

 

As you know during these Fed minutes releases, you learn to read in between the lines.  The way I read it is that they will do everything that they possibly can to stave off job losses and support the labor markets, meaning they will pull out the all the stops.  This economic crisis is probably only in the 2nd inning.  If they believe that corporate defaults will lead to a weaker economy, then I think they will do it.  You could be right, but my hunch is that this economic crisis will be a rolling crisis and I think they have more tools at their disposal to head these things off.

[GG]

7 minutes ago, Magox said:

 

As you know during these Fed minutes releases, you learn to read in between the lines.  The way I read it is that they will do everything that they possibly can to stave off job losses and support the labor markets, meaning they will pull out the all the stops.  This economic crisis is probably only in the 2nd inning.  If they believe that corporate defaults will lead to a weaker economy, then I think they will do it.  You could be right, but my hunch is that this economic crisis will be a rolling crisis and I think they have more tools at their disposal to head these things off.

 

I don't think they will touch the political hot potato of supporting the buyout shops.  You already saw it when there was a lot of pushback to these companies receiving PPP funds.  It's a valid argument of whether firms that paid billions of dividends to its owners should be getting federal tax-payer funded aid.

[Magox]

Just now, GG said:

 

I don't think they will touch the political hot potato of supporting the buyout shops.  You already saw it when there was a lot of pushback to these companies receiving PPP funds.  It's a valid argument of whether firms that paid billions of dividends to its owners should be getting federal tax-payer funded aid.

 

I certainly hope that they don't have to.  But I don't think they are eliminating that possibility. But you are right though, there are political implications.    But I do think it's gonna get awfully hairy.

[Magox]

Similar to what has been posted earlier but this lends a lot of credence that there could be a surge in sales over the next few months.   The key is getting people back to work.

 

I wouldn't be surprised if they do another round of stimulus checks, that is a concession that the R's will probably have to make to the D's for the next bill.