How’s your Thursday?

Stock Market

Stock Market Rises After Senate Passes More Coronavirus Relief

On Wednesday stocks rose after a batch of corporate earnings results topped consensus expectations and the Senate passed another bill to provide more fiscal stimulus into the economy. “Though this bill will address some of the shortfalls, this will not likely be the end for stimulus,” Bank of America analysts wrote on Wednesday. “We think Congress will next pass a bill which…

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Real Estate

3 Million Americans Skipping Mortgage Payments

The number of Americans requesting forbearance on their home loans keeps rising. However, Fannie Mae FNMA and Freddie Mac are relaxing rules for mortgage servicers. As of April 12, nearly 6 percent of all mortgages nationwide were in forbearance, according to data released Monday by the Mortgage Bankers Association. That equates to roughly 3 million homeowners. Moving forward, Fannie Mae and Freddie Mac will be allowed to purchase loans in forbearance.

Stock Market

Here’s Why Reopening the Economy Might Be a Stock Market Disaster

Many investors will tell you they were aware that the stock market was pushing the limits before the coronavirus pandemic started. Many saw a bubble forming months ago. But as Hofstra University’s Jean-Paul Rodrigue suggests, the tail wind on this latest bubble was particularly fierce. “Although manias and bubbles have taken place many times before in history,” Rodrigue wrote, “central banks appear to matters worse by…

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Retirement

Employers Have Started Suspending Their 401(k) Match and They Might Not Ever Bring It Back

As a way to encourage participation, employers started offering “the match” years ago. Matching contributions has been good for lower-paid employees for years…however, the COVID-19 crisis and ensuing economic collapse has employers suspending their matching rates altogether. Now the question is, will employers bring back matching contributions once the economy gets back on track?

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Grocery Industry

Kroger Provides Example on How to Open Back Up Post-Coronavirus

Kroger is a company who had to learn quickly on the fly once the coronavirus pandemic descended on the U.S…they are proving to be adept with their company decision making, and have become a role model of sorts for other businesses. In fact, the Cincinnati based grocery chain is sharing what it has learned during this crisis in “A Blueprint for Business”, which is a best practices for reopening guide for businesses who have been temporarily closed due to the virus and are now ready to reopen.

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Entertainment Industry

Abigail Disney Drops Jaws by Publicly Slamming Company’s Coronavirus Furloughs While Executives Reportedly Got Bonuses

She bears the famous name, but Abigail Disney was not happy with the company her great uncle Walt started. In fact, she tweeted 25 times her displeasure about recent company decisions made by the Disney corporation. The employee furloughs combined with keeping the executive bonuses apparently was too much for Abigail, and instead of remaining silent she spoke out. “WHAT THE ACTUAL F***?????” she tweeted, calling the bonuses a “REAL outrage.”

SEE ALL HER SHOCKING TWEETS →

Hospitality Industry

Airbnb Hosts Not Happy Relief Payments

Hundreds of Airbnb hosts are publicly complaining on social media their displeasure with their relief payments—many claim to have received ZERO dollars from the relief fund received by the Airbnb corporate headquarters. Some hosts who did receive a relief check say the amount is “comical,” “a joke” and insulting. Airbnb hosts were already unhappy with the San Francisco tech company’s earlier response to COVID-19, when they made a massive wave of guest cancellations. “None of this will be ignored when Airbnb does go public,” said Henry Harteveldt, travel industry analyst. “It can expect to be grilled about this by potential investors.”

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U.S. Economy

Reopening Businesses Will Be Harder Than Shutting Them Down Says Disaster Recovery Expert

Chloe Demrovsky, CEO of Disaster Recovery Institute International had some sobering things to say on Wednesday during a CNBC interview—her main thesis being that reopening businesses will be an arduous process because they will have to prove to customers they are using adequate safety measures. “Customers are going to be demanding not just assumptions of safety but visible steps and measures that companies are taking…Shutting down businesses was difficult. Reactivating them is going to be harder,” she said.

SEE WHAT ELSE SHE HAD TO SAY ABOUT REOPENING THE ECONOMY →

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