Much Ado About Nothing

Coronavirus Updates

Global confirmed cases rose above 5.78 million yesterday, with more than 356,800 deaths. The number of confirmed U.S. cases rose to nearly 1.75 million, with 102,095 deaths.

• Nevada casinos will be allowed to reopen starting June 4. See where your state stands on reopening here.
• The EU proposed a record $826B relief package yesterday, sending it to the 27 member states for approval.
• Japan approved a record $1.1 trillion stimulus package yesterday.
• New Zealand’s top health official on Wednesday said there are no hospitalized COVID-19 patients in the country, which saw its fifth consecutive day with no new cases.
• Spain began a 10-day mourning period for its COVID-19 victims on Wednesday. Flags will fly half-staff on all naval ships and public buildings until June 5.

HK Not Autonomous From China, Says Pompeo

In a statement to Congress on Wednesday, Secretary of State Mike Pompeo said he no longer considers Hong Kong to be autonomous from China, potentially opening the door for the U.S. to revoke the region’s special trade status. Hong Kong has been exempted from tariffs on mainland China since 1997, though experts say the full impact of Pompeo’s decision depends largely on how Congress will address the issue.

More: Last week, Beijing proposed national security laws that would effectively overturn the “one country, two systems” principle put in place when China assumed control of the island in 1997.

Even More: At least 360 Hong Kong pro-democracy protesters were arrested yesterday as they clashed with police.

Trump Administration Sued By 23 States

A coalition of 23 states filed a lawsuit against the Trump administration on Wednesday for its March easing of tailpipe emissions standards. Several major automakers have already voluntarily agreed to adopt more stringent regulations in accordance with California’s higher legal standards.

More: Last July, the state of California came to an agreement with Ford, Honda, BMW, and Volkswagen on a framework for vehicle emission standards separate from federal regulation.

The Coronavirus Effect

• Disney plans to reopen Disney World on July 11. The company has not yet disclosed plans for attendance limits.
• Boeing will cut 6,770 employees by the end of the week. This is part of a previously announced move to slash 10% of its more than 160,000-member workforce.
• Novant Health and Zipline launched America’s first emergency drone operation on Wednesday to provide a contactless source of PPE to local health workers in North Carolina.
• Tesla announced a price cut on its Models 3, S, and X in the U.S., along with dropping the price on its Models S and X in China.

Show Me The Money

Instagram launched two new monetization options yesterday that further enable video creators to make money on its platform. Viewers will now be able to purchase badges during Instagram Live videos, and may also be subjected to ads of up to 15 seconds when using Instagram’s long-form video platform, IGTV.

Hear, Hear

A Canadian court on Wednesday allowed the pending extradition hearing of Huawei CFO Meng Wanzhou to proceed after a legal challenge from the Chinese company. Meng is the daughter of Huawei’s founder and CEO, Ren Zhengfei.

More: Meng was arrested in Vancouver in 2018 at the request of U.S. authorities, who later indicted her and Huawei with a litany of fraud charges for allegedly violating U.S. sanctions by working with Iranian businesses.

See You Again

Dierdre Taylor - a 40-year-old emergency room nurse - left her Virginia home to travel to New York last month to assist with the COVID-19 outbreak. She had no idea of the unlikely reunion that was to come.

When she was 4 years old, Dierdre was saved from a burning NYC apartment building by a firefighter named Eugene Pugliese. Thirty-six years later, Dierdre was finally reunited with an overjoyed Eugene after she mentioned her backstory to a local NYC firefighter.

Art From The Heart

Ever since she was seven, Connecticut native Chelsea Phaire has begged her parents to start a charity. For her tenth birthday this past August, they finally relented - and Chelsea’s Charity was born.

In roughly 9 months of operation, Chelsea and her mom have assembled and donated custom-made art supply kits to more than 1,500 disadvantaged children in homeless shelters, schools, and foster care homes.

Costume Party

Although Halloween isn’t for another five months, the price of an inflatable costume in New Jersey has more than doubled over the past few weeks due to an unexpected rise in demand.

Local grandmother Maureen Sweeney is one of the hundreds of individuals who purchased an inflatable costume - in her case, a pink unicorn - to be able to safely hug their loved ones during the pandemic.

Your Company… It’s Your Turn

Fortunes are made or lost, not by what happens to us, but by how we react.

Bad things happen to good businesses.

Now you have to decide how you will respond.

Some owners will cut expenses to the bone. Others will become paralyzed by fear.

A rare few will use this opportunity to rethink their business from the ground up. Throw out what wasn’t working and re-commit to strategies that impact long term business value.

ProvenGain uses a simple system for boosting the value of the companies called The Value Builder System™. We’ve recently created an eBook called 8 Ways To Re-Invent Yourself In A Crisis, which I thought might be helpful as you contemplate what’s next. Just send me an email at: paulwildrick@provengain.com for your copy or I can help you with some ideas on a quick 30 or 60-minute call. Schedule here: www.calendly.com/paulwildrick