USA Today - 27.03.2020

(Darren Dugan) #1
The new reality competition on Amazon Prime
has one big difference: a $1M prize. Page 5B

For Klum, ‘Making the Cut’ not


just another ‘Project Runway’


MONEY+LIFE


USA TODAY | FRIDAY, MARCH 27, 2020 | SECTION B

INDEX CLOSE CHG
Dow Jones Industrial Avg. 22,552.17 x 1,351.
S&P 500 2,630.07 x 154.
Nasdaq composite 7,797.54 x 413.
T-note, 10-year yield 0.852 y 0.
SOURCES USA TODAY RESEARCH, BLOOMBERG


Dow Jones Industrial Avg.


18,

24,

26,

28,

AP SEPT. MARCH

1,351.

30,

22,
20,

22,

THURSDAY MARKETS


MCDONALD'S SUSPENDS
ALL-DAY BREAKFAST MENU


McDonald’s is temporarily pulling its
coveted all-day breakfast menu to
streamline operations as the coro-
navirus pandemic continues to strain
day-to-day affairs. “We are working
with our franchisees and local restau-
rants to focus on serving our most
popular choices and will begin tempo-
rarily removing some items from the
menu over the next few weeks,” Bill
Garrett, the senior vice president of
McDonald’s U.S. operations, said in a
statement obtained by USA TODAY
Wednesday.


ITALY TO SHUT DOWN
FACTORIES NATIONWIDE


Italy has become the first western
developed nation to idle most of its
industry to halt the spread of the
coronavirus. After more than two
weeks of a nationwide lockdown, the
Italian government decided to expand
the mandatory closure of nonessential
commercial activities to heavy indus-
try in the eurozone’s third-largest
economy, a major exporter of machin-
ery, textiles and other goods. The
industrial lobby Confindustria esti-
mates a cost of 70 billion to 100 billion
euros ($77 billion-$110 billion) of na-
tional wealth a month if 70% of com-
panies are closed, as anticipated.


ECONOMY GROWS 2.1%
IN FOURTH QUARTER


The economy grew by a moderate
2.1% in the fourth quarter of last year,
but many economists believe that will
be the last positive growth seen for
some time due to the coronavirus. The
Commerce Department said Thursday
that growth was unchanged from its
previous estimate but that the com-
ponents were slightly altered with
consumer spending slightly stronger
but government spending and busi-
ness investment a bit lower.


MARCIO JOSE SANCHEZ/AP


MONEYLINE


Per gallon of regular unleaded.

Current Avg. ............................ $2.
Yesterday Avg. ........................ $2.
Week Ago Avg. ....................... $2.
Month Ago Avg. ..................... $2.
Year Ago Avg. ......................... $2.

AMERICAN AUTOMOBILE ASSOCIATION


Gas Prices


USA TODAY SNAPSHOTS ©

From bookstore shopkeepers to
cafe owners to disc jockeys, entrepre-
neurs across America have been
among the hardest hit by the coronavi-
rus pandemic.
Small businesses in the U.S. employ
nearly 60 million people, and 57 mil-
lion are self-employed independent
contractors, gig workers, temporary
and part-time workers. Benefits like
health care coverage or sick paid leave
are not guaranteed for all of these
workers and many rely on their income
to handle these expenses.
With the Centers for Disease Con-
trol and Prevention guidelines to limit
the social gatherings and local govern-

ments mandating the closure of nones-
sential businesses to help curb the
spread of COVID-19, these business
owners have a major challenge: Find
creative ways to adjust in a time of cri-
sis.
Here are seven entrepreneurs who

are innovating and reinventing their
businesses during the coronavirus pan-
demic.

A bookstore all to yourself

Even before Washington Mayor Mu-
riel Bowser ordered all restaurants, bars
and gathering places in the District of
Columbia to be shut down, the owners
of Capitol Hill Books had been preparing
for a new chapter in its business.
Foot traffic had slowed during the
March 14 weekend. Usually on week-
ends, the cozy, three-floor used book
store gets quite packed.
“Things were slowing down, and we
also anticipated there would be some
orders coming down from local govern-
ment to close,” said Kyle Burk, one of
several co-owners who purchased the
store in July 2018.
That led the store’s operators to con-
sider how to keep the business open
while keeping “social distancing prac-

Small businesses forced to adapt


Entrepreneurs find


inventive ways to cope


Josh Rivera, Brett Molina,
Coral Murphy-Marcos, Mike Snider,
Jefferson Graham
and Jazmin Goodwin
USA TODAY

Capitol Hill Books in Washington, D.C.,
offers shopping by appointment and
virtual grab bag book collections
shipped to shoppers. CAPITOL HILL BOOKS

See ENTREPRENEURS, Page 2B

M


ost auto dealers and service stations are keeping

their doors open during the coronavirus pandem-

ic, saying they should not be forced to close be-

cause they provide an essential service. ❚Dealers,

who have been hit hard by the crisis already, say their businesses

are essential to many Americans who need to buy or fix cars to get

to their jobs or other critical destinations like hospitals.

“You have millions of workers who
still have to get to their jobs in health
care and all types of industries like
that, and they need their vehicles,”
said Marc Cannon, chief marketing
officer of AutoNation, the country’s
largest dealer network.
To make people comfortable,
dealers are practicing social distanc-
ing in their showrooms, offering to
deliver purchased vehicles, allowing
solo test rides and eliminating cer-
tain in-person activities to make a
purchase.
They’re also offering steep dis-
counts in the form of incentives

passed along by the auto manufac-
turers. Auto sales are expected to
drop sharply due to the COVID-
pandemic.
In some states, including New Jer-
sey and Michigan, dealerships have
been forced to close their showrooms
because of stay-at-home orders but
can keep their service departments
open. In others, such as Ohio, they
can keep both operating, according
to trade journal Automotive News.
Details of each state’s so-called shel-
ter-in-place directive vary.

Why most


auto dealers


are still open


COVID-19 is a crisis for industry as


discounts on cars, services abound


Nathan Bomey USA TODAY

See AUTO DEALERS, Page 3B
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