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Expert available to discuss how economic impact of COVID-19 may vary across the country
Retailers such as Macy’s, Nordstrom and Urban Outfitters have announced they will temporarily shutter stores and car maker Honda will close six U.S. plants for a week. Earlier, in-person service at restaurants and bars was ceased. R. Andrew Butters, assistant professor of business economics and public policy at the Indiana University Kelley School of Business, cautions against making general assessments about COVID-19’s economic impact across the country. “Assessing the economic impacts of this pandemic -- and the range of policy responses enacted -- or being considered; however, might be harder to predict and have the potential to be even more uneven. For instance, take the most recent response of closing in-person dining at bars, and restaurants after the first confirmed death in Indiana was announced on Monday. Citing the of example restaurants, “According to the most recent economic census data, on the dimension of annual sales per capita coming from restaurants and other eating establishments, the state of Indiana is less dependent on this sector of the economy than other neighboring states Illinois and Ohio, that have enacted similar responses. On this particular dimension, one could view the economy of Indiana being somewhat insulated relative to its Midwest neighbors. “In sectors like airline travel and hotels, net bookings are down across the board -- and at unprecedented levels. How long travelers stay at home will have a lasting impact on the distribution of foregone revenues experienced at restaurants, bars, and hotels across the country. “An empty seat, or hotel room, contributes zero to GDP. This is especially true in a country like the US, as the demands for air travel and lodging vary across different parts of the country. Some areas of the country with peaks in demand over the spring months (e.g. Arizona and Florida) are likely to be especially vulnerable. Other areas with peaks in travel and recreational demand later in the year, (e.g., some areas of New York and Minnesota) might be less impacted, if the health concerns of travel are mitigated over the next couple of months. “There are many factors one can point to as contributors to a sharp rebound in economic activity, after the impact of the health concerns of the virus are subdued. These factors include the current personal savings and unemployment rates. As more varied -- and reflective -- economic and financial data comes in from areas affected by the global supply chain/consumption disruptions created by this virus (see, e.g., Brave-Butters-Kelley Business Cycle Indices and National Financial Conditions Index), it will be imperative that public policy makers work in concert with the most recent assessments of the depth and duration of this crisis to ensure the stabilization of local and national economies.” Butters can be reached at 812-855-5768 (o), 630-699-4868 and rabutter@indiana.edu.
The global pandemic of COVID-19 is no longer just daily news, it is pretty much the only news happening right now across America and most of the globe. Reporters and journalists are working hard to cover this story that is changing and progressing almost exponentially by the day. There are multiple angles to consider, and each storyline is just as important as the other when it comes to informing the public and ensuring that the correct and proper facts are relayed to an audience that is concerned, curious and waiting for answers. If you are a journalist covering COVID-19 – then let our team of experts help. Our experts can assist with and answer your questions about transmission, vulnerable populations and age groups, prevention and how the medical system is handling this outbreak. Emi Minejima is an Assistant Professor of Clinical Pharmacy at USC School of Pharmacy and an expert in infectious diseases pharmacotherapy and antimicrobial stewardship. She is an infectious diseases specialist at LAC+USC Medical Center. Irving Steinberg is the Associate Dean for Faculty Affairs & Associate Professor of Clinical Pharmacy and Pediatrics at USC School of Pharmacy and Keck School of Medicine. He is a pediatric pharmacist at LAC+USC Medical Center and an expert in the areas of predictive performance of pharmacokinetic models for dosing in children. Annie Wong-Beringer is the Associate Dean for Research and Graduate Education & Professor of Clinical Pharmacy at USC School of Pharmacy and an expert in bacterial resistance and virulence, host microbial interactions and host immune response. All three experts are available and ready to speak with reporters – simply click on an individual's icon to make contact and arrange an interview.
Baylor Sports Marketing Expert Discusses NBA, NCAA Coronavirus Decisions
On Wednesday, the NBA took the unprecedented step to suspend its season following the revelation that one of its players tested positive for coronavirus. In addition, the NCAA announced that the March Madness basketball tournaments will be played, but without fans present. Baylor University’s Dr. Kirk Wakefield is a nationally recognized expert on sports marketing, sports psychology and fan/consumer response. He has conducted research on the sports retail market – including the NBA and all major national organizations – for more than 20 years. In this brief Q&A, he shares his thoughts about these two decisions. Q: This was an unprecedented action by the NBA to suspend the season due to coronavirus. What does this mean for the teams? A: We’ve had work stoppage before with labor lockouts. Fans were angry then, but the majority won’t be now. Most won’t blame the league or the teams. We might see even more passion for the teams as fans are anxious for play to resume. Q: Based on your understanding of the decision-making process, does this seem to be an action that was done thoughtfully? A: It was carefully considered. No one wants to be the one who could have prevented a catastrophe and didn’t take prudent steps. Just like after lockout years, the leagues will recover. Q: The NCAA tournament will be played – but without fans. What does this mean for college sports teams and the NCAA? A: Obviously, viewership will increase – which is good for sponsors with heavy broadcast and digital assets. Sponsors and venues/teams who are reliant on gate revenue will be hit the hardest. ABOUT KIRK WAKEFIELD, PH.D. Kirk Wakefield, Ph.D., is the Edwin W. Streetman Professor of Retail Marketing and executive director of Sports Sponsorship & Sales at Baylor Unviersity's Hankamer School of Business. His research on retailing covers more than two decades and focuses primarily on sports psychology, team sports marketing, entertainment marketing, and fan and consumer response to pricing and promotional tools. He has conducted fan research in almost every venue in sports including the NBA, NFL, MLB, MLS, NHL and NASCAR. ABOUT BAYLOR UNIVERSITY Baylor University is a private Christian University and a nationally ranked research institution. The University provides a vibrant campus community for more than 18,000 students by blending interdisciplinary research with an international reputation for educational excellence and a faculty commitment to teaching and scholarship. Chartered in 1845 by the Republic of Texas through the efforts of Baptist pioneers, Baylor is the oldest continually operating University in Texas. Located in Waco, Baylor welcomes students from all 50 states and more than 90 countries to study a broad range of degrees among its 12 nationally recognized academic divisions. ABOUT HANKAMER SCHOOL OF BUSINESS AT BAYLOR UNIVERSITY At Baylor University’s Hankamer School of Business, integrity stands shoulder-to-shoulder with analytic and strategic strengths. The School’s top-ranked programs combine rigorous classroom learning, hands-on experience in the real world, a solid foundation in Christian values and a global outlook. Making up approximately 25 percent of the University’s total enrollment, undergraduate students choose from 16 major areas of study. Graduate students choose from full-time, executive or online MBA or other specialized master’s programs, and Ph.D. programs in Information Systems, Entrepreneurship or Health Services Research. The Business School also has campuses located in Austin and Dallas, Texas. Visit www.baylor.edu/business and follow on Twitter at twitter.com/Baylor_Business.
FAU Experts Available to Speak on Coronavirus and its Impact Worldwide
Coronavirus has now earned global attention and Florida Atlantic University experts are available to speak with media about the impact of coronavirus on areas related to this worldwide epidemic, including hospitality, tourism, employment sick leave, and politics. If you are a journalist covering the progress of this virus and how it is impacting various sectors and segments of society – then let us help with your stories, questions and ongoing coverage. LeaAnne DeRigne, Ph.D., MSW, associate professor in FAU’s Phyllis and Harvey Sandler School of Social Work LeaAnne DeRigne is an expert on paid sick leave and its impact on the health and financial security of individuals, families and public health in general. Her recent research on the importance of paid sick leave benefits has received wide press coverage,and has been cited around the country by policy makers, lobbyists, and advocates pushing cities and states to mandate sick leave coverage. Key findings from the study, which are representative of the nation, showed that regardless of income, age, race, occupation, full-time or part-time work status, health status or health insurance coverage, workers without paid sick leave were three times more likely to delay medical care than were workers with paid sick leave. She also conducts research on other workplace benefits such as flexible work, vacation time and pensions. Peter Ricci, clinical associate professor and director of the Department of Marketing and Hospitality Management in FAU’s College of Business Peter Ricci is a hospitality industry veteran with more than 20 years of managerial experience in segments including food service, lodging, incentive travel, and destination marketing. While filling the role of hotel general manager for almost a decade, Ricci served as a part-time educator before entering academia full time as both a clinical associate professor and administrator. Kevin Wagner, Ph.D., professor and chair of FAU’s Department of Political Science in the Dorothy F. Schmidt College of Arts and Letters Kevin Wagner’s research and teaching interests include presidential and judicial politics, political behavior and legislative behavior. He is also a research fellow of the FAU Business and Economics Polling Initiative (BEPI). Wagner has lectured extensively on American politics and has served as an expert in many leading newspapers including the New York Times, Boston Globe, New York Newsday, the Dallas Morning News, and the Miami Herald. He has been featured as the political analyst for CBS 12 in West Palm Beach and on national television including NBC’s “Today.” All of the experts listed above are ready and available to speak with media. To arrange an interview simply click on an expert’s profile or email Lisa Metcalf at lmetcalf@fau.edu.
What started in China with the world watching, now has the globe’s full attention as some countries are locking down borders and advising residents to prepare for the worst. In America, leaders are urging caution and hoping to ease anxiety among the population. The number of coronavirus cases across the nation surged to more than 100 on Tuesday with six deaths blamed on the outbreak. That doesn't mean it's time to panic, said Surgeon General Jerome Adams. “Caution, preparedness, but not panic,” he said. That message was echoed at the White House, where Vice President Mike Pence confirmed "four additional fatalities" in Washington state Monday but stressed again that the risk "remains low" according to experts who are working with the Trump administration's newly formed coronavirus task force. There are more than 40 "domestic cases," mostly in California and Washington state, Pence said, and even more cases of people who came from other countries. However, as Covid-19 creeps closer to pandemic levels, there’s a lot of information out there, and not all of it is accurate. So, if you’re a journalist covering the progressing story – let Manhattanville College help ensure you get the right information and facts for your stories. Manhattanville College Professor Anna Yeung-Cheung is a biologist, virologist and infectious disease expert and has a lot of insight and experience with infectious diseases and Covid-19. When asked recently by Slate.com how Coronavirus can kill a young doctor if the risks are primarily to older people and small children, Professor Yeung Cheung said it was due to the repeated exposure because of his profession. “It’s a dosage thing,” explained Anna Yeung-Cheung to Slate.com. “Health care workers are exposed to far more people, often pretty sick people, than the average person, and therefore stand to come in contact with higher levels of the virus. A lot of virus can still overwhelm a healthy immune system.” Originally from Hong Kong, Professor Anna Yeung-Cheung received her B.S. from National Taiwan University and her M.S. and Ph.D. degrees from the University of Georgia. Dr. Yeung-Cheung is available to comment on global pandemics and where we are now with Covid-19. Simply click on her icon to arrange an interview today.
Entrepreneurship expert: New Americans vital to U.S. economy
In the United States, there is a long history of marginalized communities being extremely entrepreneurial. These communities were driven, in large part, by the desire to meet their own ethnic, religious, and cultural needs, according to Christine Beech, D.M., the Dr. Jon and Betty Kabara Endowed Chair in Entrepreneurship and Innovation at Saint Mary’s University of Minnesota. In the mid-19th century, more than 100 hospitals were founded by the Jewish community to fight anti-Semitism in medical school appointments and meet patient needs of having kosher options during the hospital stay.These opportunities were not available in the existing network of mainstream hospitals. Similarly, in the beginning of the 20th century, Irish Catholic immigrants began establishing a network of parochial elementary schools as a way to preserve their faith and culture and allow children to learn about their faith in school, Dr. Beech said. These two initiatives, led by immigrant groups, helped establish networks of schools and healthcare institutions that served a social good in their communities while generating jobs and stimulating the economy. In addition, there is a long line of entrepreneurs in the African-American community who combatted racial discrimination through new businesses because they were marginalized from the mainstream economy, Dr. Beech said. Examples of these entrepreneurs include Madam C.J. Walker, who invented a line of hair care products to serve the needs of her community, and Charles Clinton Spaulding, who developed the largest African-American business in the early 20th century specifically serving the insurance needs of the African-American community. In modern times, one of the largest marginalized communities in the U.S. is comprised of new Americans, many of whom are immigrants and have developed culturally responsive businesses. Although current policies are set in place to curtail U.S. immigrants, it is important to remember that the country could potentially lose an entire segment of the population that has been vital to the economy, Dr. Beech said. Beech pointed to a 2015 study from the Kauffman Foundation which mentioned that 40% of the Fortune 500 in 2010 were companies founded by an immigrant or the child of an immigrant. Nearly 30% of all new businesses started in 2014 were started by immigrants, Dr. Beech said, according to a related study from the same foundation. “We've been able to see constant growth and diversity within our economy that's been very healthy for us,” said Dr. Beech, who also serves as the executive director of the Kabara Institute for Entrepreneurial Studies at Saint Mary’s. “There's a narrative that says that the immigrant community is coming here to find work. But in fact, when we look at the data, a significant portion of them are actually creating jobs and starting businesses.” Dr. Beech added three primary reasons for these continued statistics indicating significant immigrant entrepreneurship: The drive to be independent A desire to meet their communities culturally specific needs A response to societal biases that hinder success within the mainstream workforce “Those migrant communities often develop their own businesses, almost like a subset of the economy, where they can't be marginalized, where they're actually taking charge of their own economic well-being,” said Dr. Beech. When it comes to knowing the overall impact of the immigration policies on the economy, there will be a natural lag in the data — possibly as long as five years — given how much time it typically takes for immigrants to establish businesses after arriving in a new country, Dr. Beech said. Are you a journalist covering this topic and interested in an interview? That’s where we can help. Christine Beech, D.M., has had a career that encompasses academics, entrepreneurship, military service, and consulting. She has been a faculty member in the business department at Saint Mary’s University since 2017 and is the executive director of the Kabara Institute for Entrepreneurial Studies. Before joining Saint Mary’s University, Dr. Beech owned her own consulting business in the Washington, D.C., area for many years. Before that, she worked as a corporate entrepreneur where she led the development of a multimillion-dollar business line for a global consulting firm. Dr. Beech is an expert in entrepreneurship, social entrepreneurship, and women entrepreneurs. She is available to speak with the media. To arrange an interview with her, simply click on her photo below to access her contact information.
Unprecedented levels of partisanship vitriol threatens the health of democracy in U.S., globally
Voter-based political parties have played an integral role in American politics since their formation in the 1790s, yet it is difficult to remember any other time in history — other than perhaps the 1850s — when the level of divisiveness was this high and the polarity this profound between Republicans and Democrats. To add more fuel to the fire, the anti-democratic actions against the rule of law by President Donald Trump have become a primary threat to democracy in the U.S., said David Lynch, Ph.D., a professor of History and Social Sciences and Political Science program coordinator at Saint Mary’s University of Minnesota. The same action are also threatening how the government works and delegitimizing and undermining institutions that make and enforce laws,Lynch added. Those institutions include formal ones such as Congress and the political parties themselves, as well as less formal entities, such as the traditional news media. “You have to have free, fair, open media in order to have a democracy. If you do not have a free press, you do not have a democracy,” Dr. Lynch said. “And similarly, you need to have the rule of law where laws are carried out not for political ends, but based on the laws.” The recent impeachment proceedings were an attempt to curtail these actions, but the partisan response to the Senate’s impeachment trial allowed the violation of democratic norms to be rewarded, said Dr. Lynch. Furthermore, politicians who react strongly to anti-democratic actions threaten to further delegitimize the government, such as Trump’s refusal to shake the hand of House Speaker Nancy Pelosi, a Democrat, at his most recent State of the Union address and her subsequent action of tearing up his speech. “That helps both sides reinforce their own position that the other side is less legitimate and that we shouldn't cooperate with somebody like that,” Dr. Lynch said. Dr. Lynch pointed to how the indices that measure the health of democracy both in the U.S. and abroad have all gone down since Trump won the 2016 election. In addition, the most recent Economist Intelligence Unit’s Democracy Index reflected the worst registered global democracy score since its inception in 2006. In that report, the U.S. received a score of “flawed democracy.” Traditionally, the U.S. democratic system has been able to regulate such extreme partisanship before election day by not nominating candidates that violate democratic norms or are far from the ideological center. On election day, overly partisan candidates are vulnerable in swing districts and swing states. That ability for the public to express its collective voice, though, has eroded over the years as the number of swing districts has dwindled. "When people view through a partisan lens, it changes the incentives that elected officials have because they may be rewarded for partisan but anti-democratic actions,” Dr. Lynch said. “It also changes how average people view this whole debate.” To demonstrate the current political scene in the U.S., Dr. Lynch alluded to a 2017 study conducted by a group of political scientists at Yale University in which experimental surveys were sent to Venezuelans to see to what degree they would be willing to accept a less democratic candidate if he or she was a member of the political party they affiliated themselves with. The answer was quite a large degree. “The big message here is you can't necessarily rely on the public just to vote out an anti-democratic candidate because they might get a partisan advantage from that anti-democrat,” Dr. Lynch said. Are you a journalist covering this topic and interested in an interview? That’s where we can help. David Lynch, Ph.D., professor of History and Social Sciences and Political Science program coordinator, has taught political science at Saint Mary’s University of Minnesota since 1996. Dr. Lynch has also written over a dozen chapters on international relations, international political economy, and American foreign policy, including the chapter on trade in the United Nations Association of the USA’s “A Global Agenda” from 1996 to 2005. Dr. Lynch is an expert in political science, political economies, and international relations. He is available to speak with the media. To arrange an interview with him, simply click on his photo below to access his contact information.
The coronavirus will impact these three things in a major way
The coronavirus has already sent ripple effects through the global economy, according to Michael Ehrlich, professor of finance at New Jersey Institute of Technology. Reports of Wall Street reacting, automakers scrambling to avoid major disruptions and the Mobile World Congress cancellation has demonstrated the effects of COVID-19. According to Ehrlich, some of the biggest indirect impacts of the virus will be felt in tourism and travel, supply chain disruption and the flight to quality. Airlines have begun to cut routes to destinations with high risk, and tourism in major European countries have forecasted a decline, as much as 30-40% in France according to a report in Forbes. "We're already seeing people decide to not go on cruise ships or not to travel on airplanes because of the coronavirus," said Ehrlich. Supply chains are being met with challenges due to China's factory shutdowns. "The real impact of where it's going to affect the economy is supply chain. China is the factory of the world, and those factories are being shut down in order to contain the virus and slow down the transmission of the virus," said Ehrlich. Finally, the third impact is a phenomenon called flight to quality. This is when investors move capital from risky investments to safer ones, a reaction when there is uncertainty in international markets. The move, according to Ehrlich, can see investors take up more U.S. stocks, bonds, and dollars that are viewed as more stable long term investments. The downstream effect could lead to a boost in the U.S. economy as it allows national manufacturing sectors to better compete in a marketplace where they are in higher demand. Michael Ehrlich is an expert on financial markets and institutions, with an emphasis on market failures. Simply click on the button below to arrange an interview.
United Nations’ Sustainable Development Goals fall behind initial hopes, lacks needed funding
In 2000, United Nations member states adopted eight Millennium Development Goals (MDGs), which featured a number of ambitious global initiatives, such as eradicating extreme poverty and hunger, and achieving universal primary education in all countries around the world. As these goals were extremely aspirational, most were far from met by the target date. However, by 2015 significant progress was made in a few areas, such as increased official development assistance (foreign aid), reduced trade barriers for developing country exports, and new debt-reduction strategies for some of the heaviest indebted countries. By the target date of the MDGs, the most notable outcome was the number of people living in extreme poverty around the world had been reduced by 50% since 1990. To keep the sustainable development agenda moving forward, at the end of 2015, the United Nations member states adopted 17 new Sustainable Development Goals (SDGs) to be met by 2030. Since the adoption of the SDGs in 2015, some progress has been on two of the SDGs: eliminating preventable deaths among newborns and children under the age of 5, and getting children into primary schools. These are both important initiatives and progress should be celebrated, says Matt Bluem, assistant dean of graduate programs and MBA director of Saint Mary's University of Minnesota's School of Business and Technology. Unfortunately, progress on the other 15 goals has not kept pace. With just 10 years until the target date for meeting all 17 SDGs, it is becoming increasingly clear that most of these goals will not be met. According to the UN, the biggest challenge in meeting the SDGs is funding. An additional $2-3 trillion is needed to help meet funding requirements. A recent report by the Brookings Institution states that sub-Saharan Africa alone would need hundreds of billions of dollars in additional financial support every year in order to meet the SDGs by the target date of 2030, Bluem says. U.N. Secretary-General António Guterres has argued that public investment by governments is not enough, insisting that private industry is going to need to get involved. To meet the aggressive SDGs, the private and public sectors will need to work together to bring about the investment and policy change. In order to encourage governments and the private sector to put the resources and effort necessary into meeting the SDGs, it is imperative to let world leaders know that goals such as the SDGs are important to the international citizenry, Bluem says. Are you a journalist covering this topic and interested in an interview? That’s where we can help. Matt Bluem, Ph.D., assistant dean of graduate programs and MBA director, has taught business and marketing courses at Saint Mary’s University of Minnesota since 2008. Prior to Saint Mary’s, he worked in both the banking and the nonprofit sectors, most recently with a non-governmental organization (NGO) with operations in more than a dozen countries. Bluem is an expert in political and economic development and is available to speak with media. To arrange an interview with him, simply click below to access his contact information.
The election is on. In fact, it’s as if the campaign of the 2016 election has never come to a finish. U.S. President Donald Trump’s strategy of constant rallies, speeches and campaign stops has essentially meant the Republican incumbent has been on the stump for the better part of almost five years now. On the other side, at one time last year, there were more than two dozen contenders vying for the right to represent the Democrats. That field has been whittled down to about half of that, and it is expected to continue shrinking now that primaries are in play and the financial costs of keeping up will become a reality. So, if there were to be an actual starting point for the November election – this week could be it. On Monday, the Iowa Caucus kicks off what could be months of rigorous and aggressive campaigning for Democrats. The winner Monday will have a huge boost, but after that it’ll be all eyes on New Hampshire, Nevada, South Carolina and then Super Tuesday. Also, this week, the President will deliver the State of the Union. The timing of this speech could be the change of channel the President needs as the clouds of impeachment linger. As well, the speech and the huge audience it gathers could set the tone of what's to come on the campaign trail. For political junkies and journalists – it is going to be a busy nine months. And if you are a reporter covering the primaries, politics and the presidential election – then let our experts help. The team from FAU can help with a variety of topics that will inevitably be part of or influence the policies and platforms of each party and candidate. Kevin Wagner's research and teaching interests include presidential and judicial politics, political behavior and legislative behavior. He is also a research fellow of the FAU Business and Economics Polling Initiative (BEPI). Robert Rabil is an expert in political Islam, terrorism, U.S. foreign policy, and U.S.-Arab relations. Kelly Shannon specializes in the history of U.S. foreign relations, with particular attention to the Middle East and the 20th century. Colin Polsky is trained as a geographer, specializing in the human dimensions of global environmental change. He also oversees FAU's quarterly environmental poll. All of these experts from Florida Atlantic University are available to help with any of your questions or coverage – simply click on an expert’s icon to arrange an interview today.
