12 Major Coronavirus Developments—March 18, 2020

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NUMBERS

23 Cases in RI

218 Cases in MA

6,203 Cases in the United States

200,071 Cases in the world

107 Deaths in the United States

7,989 Deaths Globally

Raimondo's Broken Website

For Rhode Islanders going to the Governor's website looking for critical information about the coronavirus, the information is outdated, has broken links and features Raimondo high-fiving a child.

The link to the Department of Health was broken at the time of publication and the most recent press update is more than a week old.

(The actual Department of Health COVID website page can be found here.)

Economics Troubles for Consumers

Around 67 million Americans think they will have trouble paying their credit card bills due to coronavirus, according to WalletHub’s new Coronavirus Money Survey, released Wednesday. 

Key Stats:

Coronavirus is a huge source of stress. Coronavirus is now the top stressor in America, above money problems, which has traditionally topped the list.
 
Many Americans have started saving extra. 158 million Americans are saving more money during coronavirus, rather than spending more.
 
Spending habits have changed differently for women and men. The top category women have spent less on due to coronavirus is travel. For men, it's entertainment events, such as concerts, sports and movies.
 
Travel has halted. 94 million Americans have canceled or plan on canceling travel plans due to the coronavirus.
 
Touching cash is scary. More than 6 in 10 people believe it is possible to contract the coronavirus from money.

Wall Street Rally, But Media Stocks Are Lagging

The U.S. markets rallied on Tuesday -- the Dow Jones industrial was up more than 5%. It is just the latest in the rollercoaster.

The stock sector that may be taking the biggest hit after the airlines is media stocks:

- Nexstar, WPRI-12's parent co., is off more than 51% from 52-week high

- Sinclair, WJAR-10's parent co., is off more than 79% from 52-week high

- Gannett, Providence Journal's parent co., is off more than 80% from 52-week high

- Cumulus, WPRO's parent company, is off more than 67% from 52-week high.

With sports currently canceled, auto slashing spending and the Olympics' future in doubt, many national media companies face a difficult future. 

More Lockdowns

New York City is considering a "shelter in place" order.

The New York Times reports:

The city’s mayor signaled that the shutdown could go even further with the possibility of an order to “shelter in place” — a decision he said “should be made in the next 48 hours.”

“If that moment came, there are tremendously substantial challenges that would have to be met,” Mayor Bill de Blasio said in an emotional address at City Hall. “And I don’t take this lightly at all.

RI Courts Closed Except for Emergencies

Chief Justice Paul Suttell has issued an Executive Order for the Rhode Island Courts, shutting down much of the activities, including the high profile ongoing grand jury investigating Speaker Nick Mattiello’s office involvement with the Rhode Island Convention Center Authority.

“In light of the ongoing public health crisis arising from the novel coronavirus (COVID-19) pandemic occurring across the world, the State of Emergency declared by the Governor on March 9, 2020, and guidance provided by the Rhode Island Department of Health in conjunction with the federal Centers for Disease Control and Prevention, and pursuant to the authority invested in me by § 8-15-2 of the Rhode Island General Laws, the following order is hereby issued to protect the public health, safety, and welfare by reducing the risk of exposure to COVID-19 and slowing the spread of the disease,” states Suttell’s order.

According to the order, there is a limited scope of activities that are defined as emergency and those issues will be addressed — issues like bail, emergency motions and restraining orders to name a few.

European and Asian Stocks Fall

The Financial Times is reporting that European and Asian stocks fell on Wednesday, as government measures have failed to reassure investors.

"London’s FTSE 100 fell 3.4 percent at the open as a new wave of concern over the global economy snuffed out a brief market rally. The losses were spread across Europe, as in Frankfurt the Dax slid 3.5 percent and In Paris the Cac 40 lost 2.4 percent. Futures trading suggested that selling would resume on Wall Street on Wednesday with contracts for the S&P 500 dropping 3.7 percent, the maximum allowed," reports the Financial Times.

Seven NBA Players Test Positive

The NBA was the first pro league to suspend its schedule.

Now, seven members of the league have tested positive, including superstar Kevin Durant.

U.S. Stock Futures

It will be another rocky day on Wall Street according to the U.S. market futures.

"Futures tied to the Dow Jones Industrial Average dropped 3.9%. The pan-continental Stoxx Europe 600 index fell 3.7% to its lowest level since December 2012. Most major Asian markets closed lower, with Hong Kong’s Hang Seng Index falling 4.2%," reports the Wall Street Journal on Wednesday morning.

City of Providence Announces Further Changes

As part of the temporary modifications, the following City services and offices WILL REMAIN FULLY OPERATIONAL: 

All emergency services including Police, Fire, Emergency Medical Services and—for life safety matters only— Animal Control will continue regular operations.

City contracted curbside trash and recycling collection will continue as regularly scheduled. Please note this does not include privately contracted dumpsters.

City Parks including greenspaces and walking paths will remain open, however social distancing is encouraged in these spaces.. Residents are urged to stay off playground equipment, as their cleanliness cannot be guaranteed.

Mayor’s Center for City Services will be taking calls from 8:00AM to 8:00PM and will continue to address concerns submitted through the PVD311 app or website.

The following City services and offices WILL REMAIN OPERATIONAL WITH THE FOLLOWING LIMITATIONS:

City planning applications, permits, and licensing reviews will require residents and businesses to use online and email tools for submission of materials and payment. In cases where this is not possible, documents can be dropped-off at specified times or submitted through the drop-box located at the back entrance of 444 Westminster Street (accessible by the parking lot on Greene St).**

All Public Works requests will be handled on a case by case basis as it relates to the safety and sanitation of the city.*

The Inspections of buildings and other infrastructure will continue as regularly scheduled.*

Tax Collection will be accessible online, by phone or by mail. Mailed payments should include quarterly coupon and a personal check, certified check or money order payable to the City of Providence.*

Tax Assessment services will be accessible online. Time sensitive documents, such as homestead exemption applications, are available online and can be mailed to City Hall or e-mailed to [email protected] and will continue to be processed.* 

Vital Records will continue to receive documents for death certificates through mail, at specified drop-off times** or using the City Hall drop-box accessible through Eddy Street. Select documents can be requested online and will be provided through mail.

Licensing will continue to receive documents online or through mail.* New licenses will not be issued and all food, entertainment and liquor licenses and licensing violation hearings will not be held until further notice.

Public meetings that are non-essential will be postponed for the next 30 days, per the Governor’s Executive Order, and all essential meetings are encouraged to happen online or by phone as specified.

Documents processed by the Recorder of Deeds can be mailed to City Hall or dropped-off during specified times.** Property history can be searched online, research prior to 2004 cannot be done at this time.

Commission of Human Relations complaint intake will be accessible online only.

All Finance and budget functions essential to core city operations and payroll will continue.*

The Board of Contract and Supply will continue to receive bids on city contracts according to specified drop off hours** and on the same day that the Board of Contract and Supply meetings occur between the hours of 11 AM and 2:15 PM. For day-of drop-offs, documents can be submitted using the buzzer located next to the wheelchair-accessible entrance of City Hall on Eddy Street and giving the documents to a member of the City Clerk’s office.

Rhode Island's Budget Will Be in Tatters

With Rhode Island's casinos closed, the state is losing millions a month in revenue.

Tax revenue will drop with the hospitality industry closed.

Consumer and business spending will freeze in the next few weeks.

It will be a difficult year on Smith Hill.

Schools Closed for the Year?

Kansas schools are out for the summer. California may be next.

"After consulting with education professionals, Kansas Gov. Laura Kelly ordered the closure of all K-12 schools in the state for the rest of the year. The decision came Tuesday, and Kelly along with Commissioner for Kansas State Department of Education Randy Watson tasked school personnel with designing plans for continued learning and meal distribution," reports CNN.