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Jon Quinn, lecturer in marketing at the Indiana University Kelley School of Business, who has served in senior marketing positions in the financial and food services industries, explains why many Americans may be unnecessarily hoarding supplies and seeking comfort through retail shopping. “The pandemic and the constant reporting of it is creating a significant threat and disruption to consumers’ perceived control over their daily lives, similar to a hurricane. This leads to a reduced feeling of security and well-being, driving us downward in our hierarchy of needs. When this happens, we rely more on our instinctive behaviors of self-preservation. We cease thinking logically and think and act more impulsively or even primitively. “As consumers, we have been conditioned to address problems and challenges by consumption-based solutions. We need to restore some sense of control and security, so we look for consumption-based solutions. In cases such as coming natural disasters or a pandemic, those solutions are everyday staples and items specific to protecting ourselves from the specific threat.” What should we do? -- “In a situation like this, retailers have to act with the greater good of society in mind. However, acting in such a way is also in their own best interest in the long-term. Putting quantity limits on products that are being purchased out of panic is the right thing to do, but retailers need to do a better job at explaining why. They can do this through social media, point-of-purchase and public relations. “This is an opportunity for retailers to build or fortify trust and loyalty and they can do that through dependability – avoiding stock outages as much as possible – as well as open and timely communication (explaining unit purchase limits) and accurately managing customer expectations (if they are out of stock, when will the items be back in stock). “Consumers should resist the natural and conditioned impulses and think logically. The greater the proportion of society that is protected, the greater the likelihood the spread will be contained and the greater the likelihood you and those close to you can remain healthy. Consumption will not make you safer. “Consumers will respond better if the media identified society-benefitting behaviors and demonstrated them by how these behaviors will benefit them personally. I have not seen such a message widely disseminated – but it needs to be.” Quinn can be reached at 614-390-1287 (m), 812-855-4671 (o) and jonquinn@iu.edu.
It truly has been a roller coaster of a month for those working in, invested in, or keeping a close eye on the financial markets this past month. It’s been the perfect winter storm of plunging oil prices, jittery investors and even a much over-due market correction. And now, with a pandemic declared, it looks like financial markets will continue on their wild ride due in part to COVID-19. If you are a journalist covering the markets and have questions about what possibly lies ahead – then let us help. W. Todd Roberson, Indiana University Kelley School of Business senior lecturer in finance, can discuss changes to financial markets, including stock markets, bond markets, interest rates and Fed policy changes. Professor Roberson can also give his thoughts and perspectives on what it means for investors and what investors should know and do in response to changing market conditions. Professor Roberson is available to speak with media, and if you would like to arrange an interview contact Teresa Mackin at tmackin@iu.edu or 317-274-2233.
The Markets never lie – and it looks like Wall Street is smiling about Joe Biden
The Markets never lie – and it looks like Wall Street is smiling about Joe Biden It wasn’t just the Joe Biden campaign celebrating after a monumental Super Tuesday – so too was Wall Street. Dow (INDU) futures were last up more than 580 points, or 2.3%, after the former US vice president was projected to win many as nine states including Texas, Virginia and Minnesota. Sanders captured Utah, Vermont and Colorado, and was leading in California. Futures for the S&P 500 (INX) were up 1.8%, while the Nasdaq Composite (COMP) increased 1.9%. Wall Street has been unnerved by prospect that Sanders, who wants to ban fracking, break up big banks and institute a wealth tax, could win the Democratic nomination and eventually the presidency. March 04 – CNN Business But what impact and influence will investors and indexes have on the actual outcome of the primaries? Will voters be convinced or swayed by the markets or is this result simply a by-product of an election result? It is interesting for sure, and if you are a reporter covering this topic – then let our experts help with your coverage. Jeff Haymond, Ph.D. is Dean, School of Business Administration and a Professor of Economics at Cedarville and is an expert in finance and trade. Dr. Haymond is available to speak with media regarding this topic – simply click on his icon to arrange an interview.
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.
With South Carolina in the rear-view mirror, for most candidates seeking to represent the DNC this November – Tuesday is bottom of the 9th with the bases loaded. A home run means it is game over and the champion is crowned. A hit likely means you’ve survived to play another day. But for those who swing and miss … it’s a long walk to hang up the cleat and hit the political showers. There is a lot riding on Super Tuesday and odds are there will be a lot of people pontificating, pondering, and trying to predict what’s next for those left standing. And if you are a journalist covering the lead up and the aftermath to this high-stakes and heated race to lead the Democratic Party against President Donald Trump – let us help with your stories. Dr. Stephen Farnsworth is a sought-after political commentator on subjects ranging from presidential politics to the local Virginia congressional races. He has been widely featured in national media, including The Washington Post, Reuters, The Chicago Tribune and MSNBC. He is author or co-author of six books on presidential communication. His latest work, "Presidential Communication and Character: White House News Management from Clinton and Cable to Twitter and Trump," examines how the last four U.S. presidents sell themselves and their policies in an ever-expanding and sometimes precarious media environment. Dr. Farnsworth is available to speak with media and help with your coverage – simply click on his icon to arrange an interview today.
Truce with the Taliban - will it hold and is it possible?
It’s been nearly two decades of war that has taken thousands of lives and cost American taxpayers trillions of dollars. And late last week, a temporary truce with the Taliban was finally reached after 18 years of fighting and if that holds, a more permanent resolution is expected to be signed on February 29. If successfully implemented, the weeklong “reduction in violence” agreement, which came into force at midnight Friday local time (1930 GMT, 2:30 p.m. EST), will be followed by the signing of the peace accord on Feb. 29, wrapping up America's longest-running conflict and fulfilling one of President Donald Trump's main campaign promises. Friday's announcement of an agreement on terms for a peace deal follows months of negotiations between the two sides that have broken down before. Yet both parties have signaled a desire to halt the fighting that began with the U.S. invasion after the September 11, 2001, attacks by Osama bin Laden's Afghanistan-based al-Qaida network. Should the truce stand, the U.S.-Taliban deal would be followed within 10 days by the start of all-Afghan peace talks that could result in the formation of a new government in Kabul, a pledge from the Taliban not to allow terrorist groups to operate in the country, and the phased withdrawal of U.S. and other foreign troops over 18 months. February 21 – US News and World Report It’s a historic moment for all involved, but there’s a lot of questions to be asked. Does an agreement like this have a chance of succeeding? What will happen to the area once all U.S. and other troops finally withdraw? Is this potentially the first sign of peace in the region? What protection does Afghanistan’s fragile government have if left to stand on its own? There are a lot of scenarios to consider, and if you are a journalist covering this vent, that’s where our experts can help with your questions, stories and ongoing coverage. Dr. Craig Albert is a leading expert on war, terrorism and American politics and has testified to the U.S. Congress on Islamic Extremism. He is also the Director of the Master of Arts in Intelligence and Security Studies at Augusta University. He has experience with all forms of local and national news organizations and is available to speak to media regarding this latest development between America and the Talban. Simply click on Dr. Albert’s icon to arrange an interview or to learn more about his expertise.
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.
Well it’s obvious now – the gloves are off. The Nevada debate on NBC was the closest thing to a prize fight the network has aired in decades. No punches were pulled, it got personal quick for newcomer Michael Bloomberg. In fact, if anyone thought that the contest to lead the Democrats against Donald Trump in November was going to be a polite conversation abut ideas and policy, was proven dead wrong. Here are just a few of the memorable moments captured by media: Warren labeled Bloomberg “a billionaire who calls people fat broads and horse-faced lesbians.” Sanders lashed out at Bloomberg’s policing policies as New York City mayor that he said targeted “African-American and Latinos in an outrageous way.” And former Vice President Joe Biden charged that Bloomberg’s “stop-and-frisk” policy ended up “throwing 5 million black men up against the wall.” Watching from afar, Trump joined the Bloomberg pile on. “I hear he’s getting pounded tonight, you know he’s in a debate,” Trump said at a rally in Phoenix. “I don’t think there’s any chance of the senator beating Donald Trump,” Bloomberg declared before noting Sanders’ rising wealth. “The best-known socialist in the country happens to be a millionaire with three houses!” And ongoing animosity flared between Buttigieg and Klobuchar when the former Indiana mayor slammed the three-term Minnesota senator for failing to answer questions in a recent interview about Mexican policy and forgetting the name of the Mexican president. Buttigieg noted that she’s on a committee that oversees trade issues in Mexico and she “was not able to speak to literally the first thing about the politics of the country.” She shot back: “Are you trying to say I’m dumb? Are you mocking me here?”Later in the night she lashed out at Buttigieg again: “I wish everyone else was as perfect as you, Pete.” February 19 – Associated Press There’s a long way to go, but the next couple of weeks could be crucial as Super Tuesday approaches. And if you are a journalist looking for a media-ready expert who can provide insight, perspective and objective opinions about who will win, who needs to drop out and who is the best possible challenger for the Whitehouse – let us help. Mark Caleb Smith is the Director of the Center for Political Studies at Cedarville University. Mark is available to speak with media regarding the DNC Primary and the upcoming election. Simply click on his icon to arrange an interview.
Economic Impact of Macy's Closures, Sephora Openings
On February 4, Macy's announced that it will lay off 2,000 employees at corporate-level positions and close 125 stores over the next three years. They will also look to open smaller store concepts in shopping center locations, which have become more popular destinations for consumers than shopping malls. On the same day, Sephora announced it was going to open 100 stores in 2020. Villanova's David Fiorenza, an assistant professor of economics, has provided comments on both retailers' moves: "Macy's closing about 125 stores with a couple thousand jobs lost is basic economics. Supply and demand has been changing for many years, as people are shopping online, visiting boutique stores, travelling to smaller stores in strip malls, and visiting the urban-style malls that are popping up in suburban towns. These town centers, like King of Prussia Town Center, offer everything a mall or city shopping district does—but with smaller stores such as Sephora or Ulta." "Specialty stores like Sephora and Ulta will continue to see good growth in 2020 and beyond, as this is one area of retail that cannot be replaced with online shopping. The servicing of makeup, cosmetics, hair salons and fragrances needs to be experienced in a store with a knowledgeable sales representative." "The cosmetics counters in the large stores that are anchors in malls, such as Nordstrom, Neiman Marcus and Bloomingdale's, continue to show strong sales. However, in other departments within these stores, the sales are flat or declining." "Most of the smaller strip malls and suburban town centers do not have the competition you see at the larger malls." "Since the economy has been thriving for some time now, people have more discretionary income to spend. This is another bonus for Sephora and even Ulta to expand." "Macy's is a great organization but some of the stores look old and tired, similar to what happened with Toys 'R' Us' shops. I can see Macy's opening smaller boutiques, like what Best Buy has done, or discount stores, like Nordstrom Rack." "Landlords in these small strip centers and urban centers look for a certain type of business, and the large format of Macy's does not work at this point."
