White House trade adviser Peter Navarro outlines some of the ongoing supply chain initiatives to meet ongoing demands of the corovirus effort. Navarro highlights the cooperation between US government and private enterprise. WATCH:
Tonight Florida, Illinois and Arizona are holding their 2020 democrat presidential primary. Ohio Governor Mike DeWine cancelled/postponed the Ohio primary due to Wuhan virus fears.
The polls began to close in Florida at 7pm ET/ panhandle polls will be closed in FL at 8pm ET.
Polls also close in in Illinois at 8pm ET, and in Arizona at 10pm ET.
Bernie Sanders is expected to get crushed in Florida as a result of his supportive politics toward Fidel Castro and Cuba, the only question will be the size of the Biden win. However, Illinois and Arizona might fare better for Bernie depending on turnout.
Earlier today President Trump met with executives from the U.S. tourism industry to discuss how their operation are impacted by the various COVID-19 mitigation efforts.
Participants included: Roger Dow, President & CEO, Travel Association; Chip Rogers, President & CEO, American Hotel & Lodging Association (AHLA); Jon Bortz, President and CEO, Pebblebrook Hotel Trust and AHLA Chairman; Elie Maalouf, President, The Americas, Intercontinental Hotels Group (IHG); Christopher Nassetta, President & CEO, Hilton; Arne Sorenson, President & CEO, Marriott International; Richard Bates, EVP, Disney; Mark Hoplamazian, President & CEO, Hyatt Hotels Corporation; John Sprouls, Chief Administrative Officer, Universal Parks and Resorts; Patrick Pacious, President and CEO, Choice Hotels International; David Kong, CEO, Best Western Hotels and Resorts; Jim Murren, President & CEO, MGM [Video and Transcript Below]
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[Transcript] – THE PRESIDENT: Well, thank you very much. We have the tourism industry executives, the biggest anywhere in the world. These are the great ones, and they’re going to say a couple of little words pretty soon, I think. We’ll talk about their company quickly and the number of employees and what’s happened since the Chinese virus came about. And they’ll be discussing that.
President Trump, Vice-President Pence and Treasury Secretary Steven Mnuchin lead the daily coronavirus briefing on COVID-19 mitigation efforts from the White House.
[Video Below – Transcript Added]
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[Transcript] – THE PRESIDENT: Thank you very much, everyone. Thank you. Progress being made. And I appreciate you all joining us.
Last night, the FDA announced groundbreaking new policies to further increase testing very substantially so. All states can now authorize tests developed and used within their borders, in addition to the FDA. So the states are very much involved. They have been involved from the beginning. But we’re stepping it up as much as we can, and the testing procedures are going well.
Earlier today President Trump held a conference call with a who’s-who of executives in the restaurant industry. One of the key aspects to the call was President Trump asking the CEO’s to continue food service operations despite the dine-in closures. The reason is simple: the alternative, the retail supermarket industry nationwide, cannot compensate for the closure of restaurants in the total food production supply chain. [Ground Reports]
(WHITE HOUSE) – Today, President Donald J. Trump spoke by telephone with restaurant executives representing hundreds of thousands of hardworking Americans about the response to COVID-19. The executives thanked President Trump and his Administration for the whole-of-government response and for his efforts to ensure the public has the most accurate and up-to-date information.
The President reminded the restaurants that they can help flatten the curve and slow the spread of this virus in communities across the country by encouraging their customers to use drive-thru, pickup, or delivery options.
By today the closure of dine-in restaurants should be in full swing across almost all areas. Understandably there’s going to be an operational lag as many of those restaurants don’t have the systems or equipment in place for exclusive take-out or pick-up services (ie. carry-out containers); though hopefully many are responding quickly to the changes.
The upstream consequence of the restaurant disruption is going to be even more pressure on grocery outlets already seeing additional traffic. Many people now shifting from meals “outside the home”, back to the more traditional “home-cooked” meals etc. Which brings up the question of the retail supermarket capacity to meet that extra demand.
This coronavirus event is like a nationwide pre-Hurricane shopping experience.
There have been numerous reports of wide-scale shortages in retail food markets. On the positive side this experienced supply chain has the ability to scale-up very fast (depending on region). However, on a national scale this is the first time the entire country has needed this level of increased retail food distribution simultaneously. To cope with the volume most stores appear to have reduced their hours of operation.
National Economic Council (NEC) Director Larry Kudlow held an impromptu press conference to describe what sectors of the U.S. economy may need direct financial assistance to bridge revenue gaps from mandated government policy. The stock market is not the U.S. economy.
Calling this type of financial assistance a “bailout” is not a fair term considering the financial impact was created by government instruction. Government orders to shut down restaurants creates a financial loss for restaurants who also have bills and payroll obligations to meet. These types of affected businesses will need immediate assistance.
Airlines, hotels, resorts, private parks, gyms, restaurants and various entertainment companies/industries may also need a direct infusion of cash or deferred tax payment to compensate for financial losses. Again, these businesses have been impacted by government ordering their closure. Depending on the size of the business, the need for gap funds may be urgent.
Vice-President Mike Pence and the COVID-19 task force will be holding a press briefing from the White House at 3:30pm ET. Livestream Links Below
WH Livestream Link – Fox News Livestream Link – CSPAN Livestream Link
White House trade advisor Peter Navarro appears on CNBC to discuss the White House’s response to the coronavirus outbreak, and the administration’s plan to help stimulate the economy.
Navarro gives examples of the public-private partnership working together with logistics of getting critical supplies distributed; also Navarro discusses the importance of timely and targeted stimulus measures. Additionally, Navarro outlines the construct of a likely executive order to shift medical supply manufacturing back to the U.S.
National Economic Council Director Larry Kudlow discusses what economic options the U.S. government has to mitigate and assist businesses and individuals dealing with the financial impacts of coronavirus.
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Note to Mr. Kudlow: Do not trust Dr. Anthony Fauci.
Fauci is a purposeful panic seller. His goals are not the administrations goals.