Companies Step Up Efforts to Keep Workers From Quitting

With the tight labor market companies have had to get creative in order to keep employees satisfied with their jobs and therefore have started instituting more incentives. Now more than ever tenure no longer means anything and many employees find it more advantageous leaving their job in order to find one that has higher paying salaries with more free time. Companies have no had to become more flexible and adapt to the changes to our society. Last year there was a record number of people quit their jobs, the most of any year and therefore companies have been trying to find ways to balance their employees work life better so they enjoy actually coming to work. Rather than trying to outsource talent companies find it advantageous to keep current prospects and train them rather than trying hire from the outside. With every year changing their have been many new changes associated with management, more people are given family related benefits, full paid parental leave and an easier pathway to management has shaped companies for the better. 

https://www.wsj.com/articles/companies-step-up-efforts-to-keep-workers-from-quitting-11583058602

Austin’s South by Southwest Festival Canceled Due to Coronavirus

An unprecedented situation is currently experienced in Austin, after the famous South by Southwest (SXSW) multidisciplinary festival was canceled, this in the face of fears of infection by the coronavirus.

The organizers of the festival detailed that the cancellation was due to a direct order from the City Council of the Texan capital, the first occasion that occurs in 34 years.

"We are devastated to share this news with you. 'The show must continue' is in our DNA, and this is the first time in 34 years that the March event will not take place," the official account of the festival published on its social networks.

"The Austin Department of Public Health said that" there is no evidence that canceling the SXSW or any other event would make the community more protected. "However, the situation changed rapidly, and we respect the decision of the City of Austin."

The organizers of the SXSW, which would be held from March 13 to 22 in Austin, Texas, said they are exploring options to re-enlarge the event and looking for practical alternatives for some of the activities.

So far, 11 confirmed cases of coronavirus have been reported in Texas.

Some of the technology and entertainment companies that had announced that they would not participate in the 2020 edition of the festival before the alert for the coronavirus are Twitter, Facebook, Netflix, TikTok, Amazon, Apple, IBM, HBO, Intel, and Warner Media.

March 6, 2020 6:31 pm ET

link: https://www.wsj.com/articles/south-by-southwest-festival-canceled-over-coronavirus-11583530566?mod=business_lead_pos2

States, Insurers Move to Limit Coronavirus Testing Costs for Patients

As seen from the title, the U.S. is pressuring health insurance companies to lower the cost for testing for the coronavirus in the patients. The U.S. is actually pushing for no charging of testing for the coronavirus but there's no way the insurance companies will accept that deal. This is good because it also pushes the people of the U.S. to go get tested that way the disease don't continue to spread across this country. Cigna Inc. has already removed out of pocket costs for corona virus testing and Washington has already forced insurance companies to cover all the cost during the testing process of each patient.

School Shut in Seattle Area as Coronavirus Spreads

The coronavirus has made its way to the United States, impacting many businesses and school districts. New York, Illinois and other states report new cases as Seattle tech companies urge employees to work from home. Seattle is one of many states that are having to battle the virus from spreading. The United States has now a total of 11 citizens who have died from the virus and it seems that this number will continue to rise. The United States are now taking precautionary measures to slow down the spread of the virus. Seattle-area companies and schools began implementing contingency plans to help contain the new coronavirus in the region, where the number of confirmed cases jumped to 70 from 39 a day earlier. Seattle has affected the most by the coronavirus which is leading for workers to work from home and students to stay home. Government Jay Inslee is now encouraging residents and organizations to give "serious consideration" to canceling or post-poning large events as virus spreads to new parts of the state. Companies are now having to accommodate their employees to work at home and possibly provide the resources so they can work from home. Governor Inslee also directed state insurance providers to waive copays and deductibles for anyone qualifies for testing for the new coronavirus. Northshore School District, which includes both King and Snohomish counties, said it would close its 33 campuses for up to 14 days and that more than 23,500 students would continue their lessons online. This decision was made by officials because a parent at an elementary school tested positive for the virus. Students have received training on the online platform so they are able to utilize online classes. The district is arranging for those who don't have a digital device to get a loaner. Those without Wi-Fi can also receive loaner hot spots. Seattle is not the only state that is taking these measures, officials at schools including Rice University, Northwestern University and Penn State University have canceled sponsored international spring break trips. Facebook Inc. and Amazon Inc. based in Seattle have also asked many of its employees to work from home through March 31. The reason that many states are beginning to take these measures is because there is evidence of community transmission suggest there are more people, without showing symptoms, who are spreading the virus than health officials initially realized.

This topic will continue to be interesting to look at since it is changing and impacting many lives. And it seems as though this is just the beginning on how the virus is going to change the economy and our daily lives. The virus is not only affecting the people who have the virus but also people who don't even have the virus. Companies and school districts are now having to accommodate themselves to protect not only themselves but their employees and children. The economy is taking a great toll and companies are trying to adapt to still stay in business. Schools are now having to provide students with technology and wi-fi to ensure that the students can still keep up with their assignments. Insurance providers are being pushed to give deductibles to the coronavirus patients. Everyone is being affected in different ways but nonetheless we are all finding solutions.

https://www.wsj.com/articles/coronavirus-spreads-world-wide-containment-is-an-unlikely-outcome-11583403706?mod=hp_lead_pos2

The Coronavirus Is Hammering China’s Economic Outlook

By 

James T. Areddy

Updated March 2, 2020 12:09 am ET                                       
The coronavirus has been an economic issue in China since so many of their citizens are sick and not returning to work. Many do not want to go out because they do not want to get exposed to this outbreak or they are contagious with it and physically can't go to work. There is a weakness in tourism, restaurants, transportation and construction. This ultimately makes for an economic drop without these four things expanding. It is also causing a low in production and demand from international transportation of goods. 
Many economists are predicting that the GDP in China is going to drop. In order to keep this from getting worse, the cabinet decided to cut taxes for small businesses and state-owned banks to have cheaper loans and longer grace periods. This will cause people to borrow money to pay their bills and eventually repay it. The Central Bank has made a change to reduce interest rates to save the citizens from not being able to pay them. In addition, the Central bank put billions into the domestic financial system to support the banks and help the economy. 
The main reason for the businesses in China to struggle is there is no movement in people. Meaning people are not going anywhere or doing anything. But on top of that, there is no travel of other countries coming in and out of China. This has caused the government to do something about this virus. The government is reported to have smoothed out the number of infectious cases. 
The main effect right now in the economy is the smaller companies since they are unable to pay for their employees and have a less stable income. There is not much wiggle room to make an error with a situation as extreme as an incurable virus. 
China is hoping that this economic drop is short term and they are hoping to get back on their feet once this is over. Since China's economy is so big it plays a role into other economies with transportation or goods and travel. This virus has caused so much kayos and there is hoping to be a light at the end of the tunnel with what is going on. Not only is this Virus effecting China, it is effecting every country it has spread too. 

Prices Of Virus-Killing Supplies Increase Amid Coronavirus Fears

          With the recent spread of the Coronavirus, the demand for disinfecting supplies has surged. With this in mind, many items have increased in price drastically. Amazon, for example has had to remove multiple products from their website due to price gouging. For example, "An 12-ounce, two-pack of Purell hand sanitizer bottles was listed at $99.95, around 10 times what major retailers charge". Sales for hand sanitizer have gone up 54%, thermometers sales have gone up 34%, and aerosol disinfectant sales have risen 19% when compared to last year. Many other companies such as Walmart and Target have tried their best to keep prices low but the demand is extremely high, leading to empty shelves. 

          I chose this article because the spread of the Coronavirus is something that is going to effect the whole world, myself included. Disinfectant supplies are in high demand right now and at some places, the only way to get them is for an unreasonable price. 

         This article topic relates to marketing since it shows us a clear example of how supply and demand work. It shows us how some companies deal with pricing during a time of high demand and how some ethical issues are raised.

https://www.wsj.com/articles/amazon-dogged-by-price-gouging-as-coronavirus-fears-grow-11583417920

Working from Home Because of Coronavirus? These Are Your Tech Fixes

Companies are preparing employees to work from home due to the new cases of the viral infection within the U.S. Many love the idea of staying home, not needing to dress up, or even deal with traffic.  While others think it's a horrible idea since they have loud family members or horrible internet. A piece of advice given is finding a set place in your home where you are able to separate yourself everything around your home. A place possibly close to the internet router if you struggle with weak Wi-Fi or even switching to Ethernet. 

As companies begin to prepare their employees many might lack on certain tools and have a limit of the amount of work possible to do. I personally love the idea working from home. Traffic is horrible and many of the drivers are reckless. Dressing up is not something I love to do so being home in my comfy clothes working on assignments is something I would totally love to do. 

Link: https://www.wsj.com/articles/working-from-home-because-of-coronavirus-these-are-your-tech-fixes-11583326801?mod=hp_lead_pos11