Grocery stores offer comments on operations during the pandemic #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/30388424?utm_source=category&utm_medium=internal_referral

Grocery stores offer comments on operations during the pandemic

May 24. 2020
Shoppers are spaced apart while waiting their turn to enter the Trader Joe's on 14th Street NW in the District of Columbia on April 10. MUST CREDIT: Washington Post photo by John McDonnell

Shoppers are spaced apart while waiting their turn to enter the Trader Joe’s on 14th Street NW in the District of Columbia on April 10. MUST CREDIT: Washington Post photo by John McDonnell
By The Washington Post · No Author · NATIONAL, BUSINESS, HEALTH 

Amid the novel coronavirus pandemic, the country’s nearly 40,000 grocery stores have been classified by officials as “essential” businesses that must remain open, putting the stores at the front lines of the crisis.

At least 100 grocery workers nationwide have died of covid-19, the disease caused by the virus, since late March, and at least 5,500 others have tested positive, according to a Washington Post review of data from the nation’s largest grocery workers union, other workers’ rights coalitions and media reports. Below are comments provided by supermarket chains about their operations during the pandemic.

– – –

– Walmart

Our associates are playing a critical role in helping people have access to fresh food, medicine and critical supplies during this crisis, and their safety is our highest priority. In areas experiencing community-wide outbreaks like Quincy and Worcester, our associates also felt the impact as members of those communities. We work closely with public health and medical experts and follow their guidance in implementing safety and health measures for our associates and customers.

Since the start of this pandemic we’ve been following the evolving guidance of health and medical experts, working diligently to ensure our response is appropriate to scale in how we protect our customers and associates, while also taking into account the complexities that surround each location and the varying dynamics at play in working with state and local authorities. With stores, clubs and other facilities located within 10 miles of 90% of the U.S. population, the health of our associates tends to track with the health of the country as a whole. Given the significant differences in reporting criteria and standards in the different jurisdictions where we operate we are unable to confidently provide a specific number of cases at this time with a degree of certainty. However, we believe the number of associates that have contracted COVID-19 is better than the current U.S. trend.

It may be impossible to track the source of anyone’s infection, especially in some of the communities that have felt the devastating impact of the virus. As part of our response we have a clear protocol in place for how we are cleaning and sanitizing stores, and have provided guidance for managers to work through each confirmed case. Part of this overall process also involves reiterating to our associates the leave options available to them specific to this crisis, and administered by Sedgwick. We’ve seen a high adoption of those benefits, which is a strong indicator that our associates are hearing that their health is the most important factor. Additionally, we’ve sourced PPE and made those resources available for all associates.

While we are looking into Mr. Quiros’ claims we have not been provided with enough information to substantiate them. Ms. Quiros was separated for performance reasons unrelated to any request for time off due to the Pandemic. These claims are not consistent with the experiences of the more than 235,000 people recently employed by Walmart or the countless other associates that have been able to utilize our emergency leave policy to stay home and keep their jobs protected.

– Lorenzo Lopez, Walmart spokesman

– – –

– Kroger (owner of Ralph’s and QFC)

Our most urgent priority throughout this pandemic has been to provide a safe environment for our associates and customers while meeting our societal obligation to also provide open stores, ecommerce solutions and an efficiently operating supply chain so that our communities have access to fresh, affordable food and essentials.

Since mid-March, we have invested $700 million to reward our associates and safeguard associates, customers and our communities. On May 15 we announced a special Thank You Pay for hourly frontline associates – $400 for qualified full-time associates and $200 for qualified part-time associates, totaling an additional $130 million – to acknowledge their dedication to maintaining safe, clean and stocked stores. The new Thank You Pay bookends an Appreciation Pay first provided to frontline associates for their efforts at the start of the pandemic in March. It also follows multiple Hero Bonuses that were paid in April through mid-May, with associates receiving their final payment by May 23.

In addition to these investments, we have recently provided new career opportunities to more than 100,000 workers nationwide, including those from the hardest-hit sectors like restaurants, hotels and food service distributors, to support our retail, ecommerce, manufacturing and logistics operations. Kroger employs one of the largest unionized populations in the U.S. And prior to the crisis, our workforce topped 460,000 associates.

Ralph’s outbreak: We decided early on to be transparent, ensuring our associates and customers feel valued and safe. This includes making sure our associates are informed. Once we’re notified of associates who have a confirmed diagnosis, have symptoms, may have been exposed to the virus or have been asked to quarantine by a healthcare provider due to a health-related reason, a member of our HR team contacts the employee to offer support and gather additional information, such as when the symptoms began, when they were last at work and other relevant details. This process immediately ensures the manager is well informed and notifies all co-workers and encourages others to self-quarantine, if appropriate.

Our guidance is always to communicate with integrity – openly and transparently – while protecting the privacy of any affected associate.

We are thankful to report 12 of the associates at the Hollywood store that we treated as if testing positive for COVID-19 have already fully recovered and returned to work. A total of 10 associates out of the store’s total 158 associates are still self-isolating due to exposure, per the company’s paid COVID-19 Emergency Leave guidelines. We have identified this location as a hot spot and are offering free testing to those symptomatic and asymptomatic.

Customer counting software: During this national pandemic, we committed to adopting preventive measures to help protect the safety and health of our associates, customers and communities. As an illustration, the standard building capacity for a grocery store is 1 person per 60 square feet. Under Kroger’s reduced capacity limits, the number is 1 person per 120 square feet. By leveraging QueVision, our preexisting technology system that uses sensors and predictive analytics, we can more efficiently support capacity limits. Our management team also verifies limits, creating a safer environment.

Thermometer errors: We are unaware of any mass calibration thermometer errors. We also encourage our associates to monitor their own health and check their temperature at home before every shift.

Store closings/cleaning: Our practice is to perform a thorough deep cleaning by a third party with a focus on common and high-touch areas once we’re notified of a confirmed case. In many cases, a store will close earlier than its scheduled time for this step to happen overnight. Below are the measures we have implemented and continue to execute to protect the safety of our associates, customers and communities:

– Offering COVID-19 testing to associates based on symptoms and medical need.

– Providing COVID-19 Emergency Leave to associates most directly affected by the virus or experiencing related symptoms and providing paid time off.

– Supplying masks for all associates and encouraging them to stay home if they are sick.

– Encouraging customers to wear masks in stores, or alternatively, use ecommerce services.

– Providing comprehensive benefits packages, including healthcare coverage and retirement benefits.

– Offering $5 million through the organization’s Helping Hands fund to provide financial support to certain associates experiencing hardships due to COVID-19, including childcare costs.

– Making mental health resources readily available.

– Continuing implementation of customer capacity limits and special shopping hour for senior shoppers and higher-risk customers.

– Continuing the use of plexiglass partitions and physical distancing floor decals.

– Expanding contact-free payment solutions like Scan, Bag, Go and Kroger Pay.

– Offering a no-contact delivery option, low-contact pickup service and ship-to-home orders.

Reporting to health departments: Our stores coordinate with local health departments when we learn of a positive COVID-19 case in our workforce and take immediate action to support and safeguard our associates and customers. We are acutely aware and responding to the safety needs of our associates across our family of companies. We continue to work closely with federal, state and local public health authorities as they coordinate our country’s response to flatten the curve and slow the spread of COVID-19.

Number of employees who tested positive for covid-19/died from the virus: The cumulative effect of Kroger’s safety efforts has contributed to our case rate being below that of the surrounding communities where we operate, and significantly below the national case rate. That doesn’t mean there aren’t hotspots; this is a pandemic and there are areas of the country where we have individual locations with higher rates of illness. In those areas, we’re responding with additional safety measures, including associate testing.

– Kristal Howard, Kroger spokeswoman

– – –

– Whole Foods Market

Whole Foods Market is providing an essential service in our communities and like all businesses operating in this climate, we continue to balance that responsibility with our responsibility as an employer to ensure the health, safety and privacy of our Team Members. Any notification of a diagnosis in our stores is met with swift and comprehensive action and communication, and stores continue to diligently follow all guidance from local health and food safety authorities. Along with enhanced daily cleaning protocols, social distancing and crowd control measures, we require temperature screenings and face masks for in-store workers, and in addition to providing face masks, we offer gloves and personal face shields for added protection. We are auditing all of these practices on a daily basis to help protect the health and safety of our Team Members and customers, which remains our highest priority.

We do notify health departments of confirmed cases in our stores and diligently follow the guidance of local health and foody safety authorities.

Like most grocery retailers, we have Team Members who have been affected by COVID-19, and are supporting any Team Member diagnosed or placed in quarantine so they can prioritize their health and stay home. Our priority is ensuring safety in our stores, which is why we address any confirmed diagnosis in our stores or facilities with a comprehensive action plan that includes enhanced cleaning and contact tracing, as well as communicating directly with our Team Members. If a customer has a question about a specific location, they are encouraged to reach out to our customer care team for information.

Because of the thorough nature of our daily enhanced cleaning procedures and our escalated safety protocols, our stores remain open to serve our communities under the guidance of health officials.

We made the decision to temporarily close our Lynnfield location out of an abundance of caution. The store has had multiple professional deep cleanings and disinfections throughout the facility, and we are following the guidance of health and food safety authorities.

– Rachel Malish, Whole Foods Market spokeswoman

– – –

– BJ’s Wholesale Club

The safety of our team members, members and communities is our top priority. Since the outbreak of the pandemic, we have taken aggressive actions and implemented extensive safety and sanitation measures across all our facilities; and we always encourage our team members to provide feedback and voice concerns. We’re fully focused on supporting our team members and operating our clubs with the highest safety standards. Some of our safety measures include, but are not limited to:

– Significantly increased sanitation and deep cleaning protocols on top of our already high standards.

– Continuous communication reinforcing social distancing protocols and using signage, floor decals and overhead announcements to enforce.

– Limiting the number of members to no more than 20% of a club’s capacity at any given time.

– Providing masks and gloves to all team members, and face shields for certain positions.

– Mandating that customers wear masks while in our clubs where required by state or local authorities and requesting it in all other locations.

– Additional training on safety and sanitation practices and procedures.

– Temperature checks of all team members and on-site vendors upon arrival.

– Mobile and fixed sneeze-guard barriers placed in checkout lanes, at the membership desk and at our exit for the receipt-checking process to maintain social distancing protocols.

– Waived absenteeism policy.

– Provide standard pay for up to 14 days for team members under mandated quarantine or who have tested positive for COVID-19.

– Notifying all team members, regardless of shift, when there is a confirmed diagnosis in their club.

– Immediately bring in a third-party industrial cleaning vendor to thoroughly sanitize and clean the club after any notification of a confirmed diagnosis.

– Covering the cost of testing and COVID-related treatment for those enrolled in our health plans.

– Donating more than $1 million to support relief funds, hunger relief programs and hospitals throughout our footprint.

– Ensuring team members have access to financial assistance through our employee relief fund.

– Requiring any vendor employee to wear a mask while in our clubs.

– Going above and beyond CDC guidelines and recommendations in our safety and sanitation protocols and communicate with local health officials.

– Kristy Houston, BJ’s Wholesale Club spokeswoman

– – –

– Best Market/Lidl

We are taking significant steps to protect the health and safety of our team members during this public health emergency. Across our entire store network, we are providing paid leave for all employees over the age of 65 or with documented health conditions that put them at higher risk of complications related to COVID-19. We also modified our attendance policy to allow all employees to stay home with full pay if they are sickened by the virus or placed under quarantine.

When any team member tests positive for COVID-19, we immediately place that person on paid leave for 14 days and put all associates who may have had close contact with that person on paid leave out of an abundance of caution. To date, more than 150 employees without any symptoms have been put on paid administrative under this policy.

At all our stores, we have enhanced our cleaning regimen to meet or exceed guidelines established by the Centers for Disease Control and Prevention (CDC). We are limiting the number of customers in our stores to encourage social distancing, equipping our team members with masks and gloves, and installed protective barriers at checkout lanes.

We take our responsibility to protect our team members seriously.

Confirmed Case of Covid-19 at Franklin Square Store: We follow the latest guidelines established by the CDC at all our stores which stipulates the incubation period for COVID-19 is 14 days. When we learn of a confirmed employee case, we conduct a close contact trace and put any employee who may have had close contact with an infected employee on paid administrative leave for the period of time that extends to 14 days from exposure. Prior to returning to work, our HR team screens those employees to ensure that they have not developed symptoms. In the case you cited at Franklin Square, the employee who tested positive had not been at work for nine days when we learned of the diagnosis. At that point, we immediately contacted the employee you mention. We determined that she was last in contact with the infected employee nine days prior. Despite having no symptoms, we placed her on paid administrative leave for five days to fully cover the 14-day period since possible exposure. Prior to returning to work, per our policy, our HR team contacted her to ensure no symptoms had developed before returning to the store.

Passing of Gladys Cortes: We were saddened when we learned of her passing. Gladys was a valued member of our team for many years and brought enthusiasm and passion to work every day. Gladys last worked at the store in Islip on March 30th, and we have no reports indicating that she was sick while working. Our policy is clear that employees who are sick should stay home. We reiterate this policy to our team and our store management regularly. We first learned of Glady’s positive diagnosis and of her passing on April 9th. As soon as we were informed, we immediately briefed employees at the store on the same day through in-person meetings. We also issued a letter the following morning to all team members at the store on their paycheck. In the letter to employees, we pointed out that we thoroughly clean all our stores every day throughout the day. When an employee with confirmed case of COVID-19 worked in the store within a five-day period, we will also have a third-party company specializing in sanitization conduct an additional deep cleaning of the store. According to CDC guidance, five days is the maximum time the virus can live on surfaces. In this case, Gladys was not in the store for nine days. We reported the case to the appropriate regulatory authorities, who investigated and closed the case.

– William Harwood, Lidl spokesman

– – –

– Target

At Target, our priority has always been the safety and well-being of our team, and that’s the approach we’ve taken throughout the coronavirus. Since early March, we’ve introduced dozens of safety, social distancing and rigorous cleaning measures at our stores across the country. The number of confirmed cases we’re seeing across our team is lower than the percent being reported for the U.S population. But even a single case gets our attention, which is why you see us working so hard to do everything we can to protect our team and our guests.

We’re informing team members who work at a location where a case of the coronavirus is confirmed and we’ll continue to be transparent in the process, along with the measures we put in place to address it. While being transparent, we’re also careful to keep team member privacy from being compromised with the information we share. There are some details we do not provide, as it increases the likelihood of a team member’s privacy being compromised.

We’re following health expert guidance and we’re providing information that any health department requests of us.

We want all team members to feel comfortable sharing their concerns. We provide opportunities for team members to share feedback, either through team leaders or through anonymous reporting.

While I can’t provide company-by-company detail, what I can share is our high-level approach.

Partners who operate in our stores receive updated information regarding our policies and expectations as we monitor and address the evolving situation pertaining to the coronavirus.

Additionally, we routinely communicate CDC guidance in and around stores to reinforce these important measures.

– Danielle Schumann, Target spokeswoman

– – –

– Trader Joe’s

Trader Joe’s has long been known as an employer of choice because of our industry-leading compensation and benefits we provide our Crew Members, as well as our caring culture and the communication we maintain with our Crew Members. This has held true as we have addressed the COVID-19 coronavirus. Since the beginning, we’ve looked to the CDC and local and state health officials for guidance on best health and safety practices, meeting and exceeding all recommendations and guidelines on everything from the implementation of proper cleaning and safety measures to the proper handling, tracking and reporting of positive cases.

Upon notification of any possible exposure to COVID-19 in any of our stores, we follow practices that meet or exceed CDC and other health official requirements. Our actions vary by situation, and depending on the date range of potential exposure, can include notifying the public and Crew Members, and closing our stores for additional, thorough cleaning and sanitization. We take a hyper careful approach by closing stores in these instances, and we do not reopen a store until we are satisfied that further intense cleaning and sanitation has been completed.

Any time someone at one of our stores tests positive and they were recently in the store, we close the store for an additional, thorough cleaning and post the closure on our website, in addition to posting a notice on the door of the store. We stay in touch with local and state health officials and comply with all reporting requirements for COVID-19. In fact health officials consistently tell us that we go above and beyond.

The CDC recommends there be an additional cleaning if someone who is sick has been in a facility within the last 7 days, however that additional cleaning is something Trader Joe’s does in our stores every day. This thorough cleaning is done in addition to the cleaning that takes place throughout the day, every day.

At Trader Joe’s we pride ourselves on operating our business with integrity and adhering to the law at all times. We also listen to our Crew Members and customers, appreciate and often implement their ideas and input, and take all concerns seriously. From the beginning, we have made it clear that Mr. King’s employment at Trader Joe’s did not end because of desire to set up a social media page or because he expressed concerns. When asked further about that, I have been clear that due to for privacy reasons I am not at liberty to say more.

As this unprecedented situation continues to evolve, so has our approach to doing all we can to safeguard the health and wellbeing of our Crew Members and customers. Every day, we’re listening to Crew Members and customers and re-evaluating what we’re doing and what we can do better. Our Crew Members are the heart of the company, every day going above and beyond to take care of customers and their communities. We want to do everything we can to take care of them. Their safety and wellbeing have been at the center of every decision we’ve made, throughout this situation. Over the months, we have provided safety and sanitation guidelines and protocols for our stores and reinforced these new measures with regular reminders and updates. We were one of the first grocery stores to reduce store hours, regulate the number of customers in our stores, and implement social distancing protocol in all stores.

Examples of additional measures we’ve taken:

– Early on we instituted enhanced cleaning and sanitization efforts at all of our stores, especially in high-touch areas, as we know this is the best way to combat any potential virus.

– All of our stores are conducting Crew Member Wellness Checks with all Crew Members, prior to the start of each shift. The Wellness Checks screen for potential exposure to COVID-19, as well as symptoms consistent with a COVID-19 infection. They are an extra precaution we are taking to reduce the possibility of any Crew Members inadvertently exposing their fellow crew or our customers to illness.

– Any Crew Member who had health insurance before the pandemic will keep that insurance, no matter how many hours they work. This allows Crew Members the opportunity to take a couple of days or a couple of weeks off without repercussions to their jobs or the benefits they’ve come to enjoy.

– We implemented bonus pay as well as $2/hour increases of thank you pay on top of already industry-leading pay that is $15/hour starting pay. The average tends to be much higher because Crew Members have the potential to receive a 7%-10% annual increase.

– We have increased Crew Members’ store discount to 20%.

– Even before the CDC changed it’s guidance on masks, at the start of April, we had masks made for all of our Crew Members and we had plexiglass shields installed at registers at all of our stores, starting with stores located in areas that have higher COVID-19 cases.

– We’ve reduced store hours to support our Crew Members in taking care of one another and our customers.

– We were one of the first grocery stores to limit the amount of customers in our stores at one time, and implement social distancing measures in all stores, to help ensure all Crew Members and customers are able to maintain the recommended 6-foot distance when working or shopping.

– We’ve dedicated a special shopping hour for only our senior customers over the age of 60 and other vulnerable customers who may need extra assistance while shopping.

– Kenya Friend-Daniel, Trader Joe’s spokeswoman

Cancellation of internships, jobs nurtures students’ creativity #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/30388436?utm_source=category&utm_medium=internal_referral

Cancellation of internships, jobs nurtures students’ creativity

May 25. 2020
University of Massachusetts at Amherst nursing student Brendan Barrie recently completed his freshman year off-campus due to the coronavirus epidemic. Barrie, who lost his summer nursing internship, is spending his time nursing his uncle, who is dying of cancer. MUST CREDIT: Photo for The Washington Post by Katye Martens Brier

University of Massachusetts at Amherst nursing student Brendan Barrie recently completed his freshman year off-campus due to the coronavirus epidemic. Barrie, who lost his summer nursing internship, is spending his time nursing his uncle, who is dying of cancer. MUST CREDIT: Photo for The Washington Post by Katye Martens Brier
By The Washington Post · Sydney Trent · NATIONAL, EDUCATION 

First, there was the Spring of Rebellion, when teens chaffed at their parents’ demands to stay home as the deadly coronavirus pandemic descended. Next came sullen acceptance, followed by weeks filled with virtual non-learning and video games.

Now millions of American high school and college students have arrived at the Summer of Nothing, a landscape of scuttled internships, summer camps and travel plans that might have been résumé gilders – or at least something to do. A summer in which paid jobs are scarcer than a Stanford University admission and require something almost as tough to obtain: parental permission.

Ryan Amarillas, a 17-year-old who lives in northern Virginia, had cleared the first hurdle when a friend recommended him for a gig at his local grocery store. His escape from quarantine was near; the outgoing junior from Falls Church could see it. He’d shine at customer service, goof off with his buddies on breaks and before long buy the Ford F150 truck of his dreams. But Ryan could not persuade his parents, who said a job was not worth risking the life of his grandmother, who lives with them.

“It feels like prison, like I’m on house arrest,” he said. His summer would be a lot like his spring.

This was to be the summer of European travel for Maddy Bram, whose mother, Elizabeth, had made extravagant plans. They’d spend a few days in Barcelona and then take a Disney cruise to Rome, Nice and Florence before capping it off with another frolic on the Spanish coast. The 14-year-old from Bay Harbor Islands, Florida, “has really only been to England, with a plane switch in Madrid,” said her mother, an operations manager for an equity brokerage firm. Now Maddy’s travel will take place in a kayak just a few miles from her house, a clear “zero” of a summer, the teen declared.

Yet as unbelievable as a bored teen may find it, this Summer of Nothing might offer some unexpected benefits – like the blue skies over Beijing when industry ground to a halt.

“The primary role of summer is to experience the real world and get away from school,” said Peter Gray, an evolutionary psychologist who writes about the role of free time and play in child development. “It’s a time to explore your own interests and work on your hobbies – the things that poetry tells us are good for the human soul.”

In past generations, meandering summer days led naturally to career paths, Gray noted, though today’s parents are giving the process a pandemic boost.

Kristin McGovern had planned to hire professionals to build an entertainment space in her Boston backyard this summer when her son, a rising college junior majoring in mechanical engineering, lost his chance at an internship with the state transportation department due to covid-19, the disease caused by the novel coronavirus. Her friend had posted photos on Facebook of a patio her three sons had built.

“It looked awesome,” McGovern said, and her mind started spinning. They’d get the materials delivered and pay Conor an hourly rate as project designer and then builder with his brother Aiden, 17. She envisions a patio with a firepit and pizza oven while Conor is contemplating an outdoor bar. If all goes well, it will be a Summer of Initiative and hands-on experience.

Brendan Barrie had his internship lined up early. The 19-year-old college freshman from Milford, Massachusetts, would be a summer counselor at the Hole in the Wall Gang Camp for children in need of medical supervision. He had attended the Ashford, Connecticut, camp himself as a high school kid battling leukemia and the experience had inspired him to major in nursing.

The pandemic closed that door, but then opened another.

Barrie decided to spend the summer nursing his 50-year-old Uncle Ken, who was dying of late-stage glioblastoma, an aggressive brain cancer. He worked 12-hour days helping his uncle get to the bathroom, eat and stay hydrated. He made sure his patient did not fall asleep smoking or wander in confusion through the sliding screen door.

With his dad unemployed, Barrie even applied to get paid as a personal-care assistant under Medicaid, though there was no putting a price on the time with his uncle, who brightened when his nephew walked into the room.

“As hard as it is, it’s very rewarding to care for him,” he said. Then things took a turn for the worse, and Uncle Ken suddenly died with Barrie by his side Friday night. The intimate experience with hands-on nursing “will stay with me my whole career,” the teen said, and has left him with the gift of perspective.

Nate Tinbit, who just graduated from John F. Kennedy High School in Wheaton, Maryland, also sees the summer as a chance to help others.

Tinbit, the student board member for Montgomery County Public Schools, was looking into a job as a community organizer for a nonprofit before leaving for Cornell University to study labor relations. With that plan defunct, he had at least hoped to keep his part-time gig at Panera to help his parents out. But now that’s gone, too, and Tinbit said he wants to volunteer full-time for a food bank or some other nonprofit “doing anything and everything possible” to ease the suffering around him.

“This summer is not for me anymore,” he said.

Jobs are much more than résumé builders for many of the low-income teens and young people in the District of Columbia who rely on the Marion S. Barry Summer Youth Employment Program for work.

On Friday, Mayor Muriel Bowser, a Democrat, announced that the summer jobs program will be virtual, with teenagers and young adults providing tech support or teaching children to read remotely. Other cities, including Philadelphia and Chicago, are doing the same.

“We have to be creative,” said Tyon Jones, an Advisory Neighborhood Commission representative. “These jobs can sometimes be the deciding factor in whether employees and their brothers and sisters can eat at night.”

For teens who are not college-bound, the program also provides hands-on training that can lead directly to full-time jobs. Jones, a supervisor in the city’s transportation department, points to one young man he nurtured for two summers before the agency hired him last year to repair and install street signs.

“I love it because you are helping people out and the people you are helping out, they don’t even know you,” Trevon Williams, 21, said. “If I install a stop sign, I can save a thousand people from crashing at that intersection. I’m helping my community.”

The friend who recommended Ryan Amarillas for a job at the grocery store had a different goal in mind when he took a part-time job as a cashier last year at the store in Falls Church.

“I like Harris Teeter cookies,” Ali Nawal, 17, said. “. . . I thought they’d have free cookies all the time, and they do have free cookies all the time.”

The $10.50 an hour was better than minimum wage, enough to save some money while helping his mom pay the household bills. As schools shut down, Ali became the envy of his cooped-up friends.

Ali’s parents, like Ryan’s, were opposed to his working, preferring he use the time to study and volunteer. “But at the end of the day, they let me make the final decision,” Ali said, because they know he’s responsible and works hard in school. This spring, Ali made sure to shed the mask, gloves and blue polo he wears as an essential worker before walking in the door. His name tag had a new motto: “We’re all in this together, just six feet apart.”

His twin brother got a job at the grocery store, too. But earlier this month, his brother came down with a sore throat and, on May 16 he tested positive for covid-19. Both teens are now quarantining in their two-bedroom apartment. Ali’s summer is looking very uncertain.

Meanwhile, Maddy has changed her summer fun forecast from zero to eight. “When it all got canceled, especially Europe and everything, I was really bummed,” she said. “But it’s given me a lot of time to figure out things I like to do.”

So far that’s included dance, via Zoom lessons, and cooking – she’s made a mean leche frita, a Spanish rice pudding. Even the things that she thought were boring, or at least not special – like sitting near the water watching jet skiers blast by or grabbing a latte – have a strangely new sheen.

“I have just adjusted,” she said. “Everything is special now. If my mom and I go through the Starbucks drive-through with our little masks, that’s special. If we find a little grassy spot near the water over the bridge, that’s special. They might be things I wouldn’t even do if I weren’t in quarantine, but I value everything more.”

Ryan has been driven by boredom to branch out, too. He’s become a deep reader of the news, he said, and it makes him think.

He read stories about the disproportionate number of people of color who are dying of covid-19, forced to work without sick leave and proper health care. He raptly followed the news of Ahmed Arbery, the 25-year-old unarmed jogger in Georgia who was shot to death in February by two white men in a pickup truck, and the three months before authorities filed charges.

Gradually, he said, his perspective has widened – past the grocery store and high school and college. Ryan imagined himself as someone who fights for the rights of others. A career goal took shape: civil rights attorney. He would keep reading to prepare himself for his future.

The Summer of Something, after all.

Thailand ‘keeping a close eye’ on US-China conflict #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/30388384?utm_source=category&utm_medium=internal_referral

Thailand ‘keeping a close eye’ on US-China conflict

May 25. 2020
By The Nation

The Ministry of Commerce and the private sector are monitoring the conflict between US and China, as a trade war could erupt again, Pimchanok Vonkorpon, director-general of the Trade Policy and Strategy Office, said.

She said the ministry and the private sector would draft a plan to push exports to cope with the situation, as this conflict may impact several countries’ economies and exports.

“We have to monitor this situation closely, especially before the US presidential election because we cannot predict US President Donald Trump’s moves,” she said.

She expected that the US would issue up to three measures on China or other countries, especially increasing tariffs on products, such as automobiles.

“We will discuss with the private sector about the impact on exports,” she added. “If we are lucky, we may turn the crisis into an opportunity.”

Prachya Samalapa, vice chairman of the Thai Chamber of Commerce, expected Thailand to benefit from this conflict, especially from the opportunity to promote the country as a supply chain for some industries as China begins to move production to Thailand and Asean countries to supply materials.

“After the US accused China of causing the Covid-19 outbreak, China was forced to find partners in countries nearby, which can be seen from the opening of checkpoints to enable Thailand to export agricultural goods, such as durian,” he said.

Regarding Panasonic’s decision to move production from Thailand to Vietnam, he said it was usual because companies worldwide have to reorganise their structure to be in line with the situation and production cost.

“We expect businesses to reorganise their structure following the Covid-19 outbreak due to the decline in purchasing orders,” he added. “Meanwhile, the government sector and the Thai Chamber of Commerce will find a way to enable companies to be able to continue their business.”

Will the coronavirus pandemic open the door to a four-day workweek? #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/30388425?utm_source=category&utm_medium=internal_referral

Will the coronavirus pandemic open the door to a four-day workweek?

May 24. 2020
Photo credit: PxHere

Photo credit: PxHere
By The Washington Post · Miriam Berger · BUSINESS, WORLD, CAREER-WORKPLACE
The world is watching New Zealand.

Decisive early action, along with Prime Minister Jacinda Ardern’s empathetic style of leadership, quashed the country’s coronavirus outbreak in fewer than 50 days, earning it a place on the short list of nations the rest of the world is looking to for guidance – not just on how to fight the initial wave of the pandemic, but on what could come next.

So, when Ardern uploaded a video to Facebook last week floating the idea of a four-day workweek, an audience outside New Zealand took notice, judging by the headlines. Amid the flexibility companies have had to show in response to the novel coronavirus crisis, what once in many quarters would have come across as a fringe notion no longer seemed so unthinkable.

Ardern said she was looking for creative ways to stimulate domestic tourism, to help the industry recover as the country begins to reopen with strict border measures still in place. But she couched the idea in the context of broader changes to the workplace wrought by the pandemic.

“I’ve heard lots of people suggesting we should have a four-day week,” she said. “Ultimately, that really sits between employers and employees.”

She pushed companies to consider new policies.

“I’d really encourage people to think about that, if you’re an employer and in a position to do so,” Ardern said, “if that’s something that would work for your workplace.”

Long before the coronavirus pandemic upended life on every continent, the four-day workweek was gaining a global cohort of converts, according to Alex Soojung-Kim Pang, the author of “Shorter: Work Better, Smarter, and Less – Here’s How.”

For his research, Pang spent time in offices that had implemented the policy in Australia, Canada, Japan, South Korea the United Kingdom, the United States and Scandinavian countries to track why they were making the shift. “It’s not just touchy-feely social democracies that are doing it,” he said, but also countries where “overwork is the norm.”

Some studies show workplace productivity and satisfaction go up under a shorter, more compressed schedule.

Finland’s prime minister has touted the idea, the U.K.’s Labour Party has campaigned on it, and companies including Microsoft in Japan and Shake Shack in the United States have succeeded in trying out versions of it. While not all have ultimately stayed, one study in the U.K. last year found 64 percent of leaders of businesses with four-day workweeks saw an increase in staff productivity, while 77 percent of workers linked it to a better quality of life. The same study cited bureaucratic hurdles like contracts as among the major limitations.

That’s in part why before the pandemic, Karen Jansen, a researcher on organizational behavior in the U.K., estimated a major shift toward the shorter workweek wouldn’t happen before 2030. Now, she said, the coronavirus is “accelerating” that timeline.

“It used to be that flexible work arrangements were a bit stigmatized,” she said. “Those negatives I think are going away. Covid has had a leveling effect.”

“This experience has taught us that we don’t have to have a one-size-fits-all model for everyone,” Jansen added. “The question, I think, is who is going to go back to the old way.”

Many of the benefits of a four-day workweek overlap, in theory, with the pros of working from home that extend beyond safety during the pandemic, Jansen said. “It’s that ability to have work-life balance, to help save the environment in terms of your commuting and footprint on the Earth.”

Much like remote work, four-day weeks, even if they gained widespread traction, would not likely be available to all workers evenly. There are different models for the shortened week, some of which envision the same output condensed into fewer hours while other simply imagine longer hours spread over fewer days.

The pandemic has already exacerbated divides between those with professions that can be done remotely and the workers in health care, retail, delivery, food-processing and other sectors who cannot stay home and face elevated risk. The crisis has also amplified inherent inequalities between workers in formal jobs, with set contracts and hours, and those in the gig and informal economy.

The four-day workweek can’t fix these labor “bubbles,” said Jansen. Instead, she said, the three-day weekend would become a “bubble” like remote work, encompassing a growing number of people and professions while excluding others.

Andrew Barnes, a businessman and leading proponent of the four-day workweek in New Zealand, said the model, if implemented, could serve to redress gender imbalances.

Initial studies have shown women worldwide bear the brunt of child care and other domestic responsibilities under lockdowns and work-from-home orders, which exacerbate preexisting dynamics. In contrast, he argued, a four-day workweek could normalize a pattern in which people of all genders split their time more evenly between home and the workplace, removing an entrenched barrier to female professional advancement.

“You’re never going to get women at the top unless you get the guys out of the office,” Barnes said. “It makes it OK (for men) to spend time at home, to look after kids, to have care responsibilities.”

Barnes is the CEO of Perpetual Guardian, New Zealand’s largest estate planning company, and his employees, who were already working four-day weeks before the outbreak, easily transitioned to remote work, he said. They would prefer a mix of office and remote work moving forward, according to surveys he has conducted.

For companies that need to scale back, Barnes urged management to consider switching to four-day weeks, as one fewer day could be a way to reduce office-related costs.

“Pay them what they are worth,” Barnes said. “Not how much time they spend in the office.”

With Europe’s restaurants and pubs shut, barley used for beer could become pig food #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/30388419?utm_source=category&utm_medium=internal_referral

With Europe’s restaurants and pubs shut, barley used for beer could become pig food

May 24. 2020
Revelers hold steins of beer aloft at the Oktoberfest in Munich on Sept. 26, 2019. MUST CREDIT: Bloomberg photo by Michaela Handrek-Rehle.

Revelers hold steins of beer aloft at the Oktoberfest in Munich on Sept. 26, 2019. MUST CREDIT: Bloomberg photo by Michaela Handrek-Rehle.
By Syndication Washington Post, Bloomberg · Greg Ritchie, Jen Skerritt · BUSINESS, WORLD, US-GLOBAL-MARKETS, EUROPE 

Barley farmers like Brett Askew can’t wait for pubs to reopen, but it’s not the pints they’re missing most.

Like many European farmers whose wheat plans were thwarted by a wet autumn, the Brit waited for weather to improve and turned to later-planted spring crops like barley, which he plans to sell to maltsters. The timing couldn’t have been worse.

Closing pubs and restaurants and canceling sporting events and festivals like Germany’s Oktoberfest has hurt demand for malt used to make beer and whisky. Brewers and malt producers have shuttered or scaled down plants, just as European barley stockpiles are set to hit a decade-high. That means farms may have to offload crops more cheaply for animal feed.

“What happens and how it plays out, I have no idea,” Askew said by phone from his farm in northern England. “The crop’s in the ground, we have to see it out for the harvest. But who’s going to buy it?”

About a sixth of the world’s barley is used in malt, though the share is higher in regions with intensive beer and whiskey sectors. Stockpiles in the European Union, the largest grower, will jump 14% to 6.6 million tons next season, U.S. government data show, and French malting barley prices recently hit the lowest since at least 2015.

Malting barley needs to be stored in specific silos to maintain its quality, and with the next harvest starting around June, many growers won’t have room to keep supplies at their farms until demand recovers.

Belgium’s Boortmalt, the world’s top malt maker, expects to cut purchases from farmers, while Malteurop temporarily shuttered four North American plants.

“There’s really no trade in malt crops because there’s no demand,” said Brent Atthill, managing director at RMI Analytics. “In fact, it’s the reverse with maltsters trying to get rid of barley that they can predict with good accuracy they don’t need. They know there’s another crop being grown at the moment.”

Malting barley’s premium over the feed variety has narrowed on lower demand, and overall prices could drop further, he said. The U.S. government expects next season’s global barley inventories to swell almost 7% to a five-year high.

In the U.S., small brewers have seen most of their market dry up, and draught beer stuck at breweries or delivered to retailers that soon shut is being dumped, turned into hand sanitizer or being composted, the Colorado-based Brewers Association said. In Europe, maltsters are trying to delay or cancel barley deliveries, German industry group Braugersten Gemeinschaft said.

“All those arenas shut down, concerns, restaurants, that’s a lot of beer not being consumed,” said Wade McAllister, vice-chair of the Alberta Barley Commission. “You can’t drink that much beer at home to keep up.”

It’s not just a beer slowdown worrying farmers. The Scotch Whisky Association said there’s been a drop in grain demand as operations are scaled back, though it hopes there’s a quick recovery when restrictions are eased. Last year in Scotland, more than half of spring barley went into malt production to help supply the highest concentration of whisky producers in the world.

“In four to five months from now, or even before then because of winter barley, grain will be seeing the combines and needing to find a home,” said Peter Loggie, crops policy manager at the National Farmers’ Union Scotland. “It’s a big problem.”

For farmer Askew, even if the drinks sector starts getting back on its feet this year, the barley market will remain sluggish for much longer.

“There will be a large carryover of this product into next year,” he said. “The impact is going to be felt for far more just the next six months. It will be more like 18 months to two years.”

Hertz files for bankruptcy after rental-car demand vanishes #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/30388385?utm_source=category&utm_medium=internal_referral

Hertz files for bankruptcy after rental-car demand vanishes

May 23. 2020
A Hertz rental location at Los Angeles International Airport in Los Angeles on Nov. 7, 2017. MUST CREDIT: Bloomberg photo by Patrick T. Fallon.

A Hertz rental location at Los Angeles International Airport in Los Angeles on Nov. 7, 2017. MUST CREDIT: Bloomberg photo by Patrick T. Fallon.
By Syndication The Washington Post, Bloomberg · Jack Pitcher, David Welch

Hertz Global Holdings, the car-rental company founded with a dozen Ford Model Ts over a century ago, filed for bankruptcy late Friday after sweeping travel restrictions and the global economic collapse destroyed demand for its vehicles.

The Chapter 11 filing in Delaware allows Hertz to keep operating while it devises a plan to pay creditors and turn around the business. The second-largest U.S car-rental-car company does not need debtor-in-possession financing for now, according to a person familiar with the matter, because it has more than $1 billion cash on hand.

Hertz’s court petition listed about $25.8 billion in assets and $24.4 billion of debts, and its biggest creditors include IBM Corp. and Lyft Inc. After the coronavirus pandemic decimated revenue, the car renter sought relief from lenders and a bailout from the U.S. Treasury Department. But while it managed to negotiate a short-term reprieve from creditors, it wasn’t able to work out longer-term agreements.

“With the severity of the covid-19 impact on our business, and the uncertainty of when travel and the economy will rebound, we need to take further steps to weather a potentially prolonged recovery,” Paul Stone, Hertz’s chief executive officer, said in a statement. The Estero, Florida-based company named him its fifth CEO since 2014 just four days before the bankruptcy filing.

Analysts have warned of ramifications for the broader auto industry from a Hertz bankruptcy. The company has a fleet of about 400,000 cars in the U.S. that are not subject to repurchase agreements with vehicle manufacturers and could be liquidated, Michael Ward, an analyst at Benchmark Co., wrote in a report last week.

“The risk for the auto sector occurs if the creditors of the debt that is secured by the vehicles decides to liquidate the fleet to repay the bonds,” Ward wrote on May 14. The impact those sales may have on used-car prices could be minimized by the sale of those vehicles taking place over the course of several months, he said.

Hertz said it has enough cash for now to support its operations, which include Hertz, Dollar, Thrifty, Firefly, Hertz Car Sales, and Donlen. But it might need to raise more, perhaps through added borrowings while the bankruptcy process moves forward.

The Chapter 11 proceedings involve the company’s U.S. and Canadian subsidiaries and don’t include its international operations in Europe, Australia or New Zealand.

“Hertz may have little choice but to scale down its operations and sell assets to pay down its significant secured debt,” Joseph Acosta, a partner in the bankruptcy practice at the law firm Dorsey & Whitney, said in an email. “Hopefully, the restructuring expenses will not bury the company in the process.”

The company began laying off workers to preserve cash in March as emergency measures to contain the virus halted business and leisure travel. Hertz disclosed on April 29 that it had missed substantial lease payments related to its rental cars.

While all travel-related companies have been hurt by the pandemic, a big part of what’s weighed on Hertz is its strategy of owning or leasing a large portion of its fleet outright instead of acquiring them through buyback agreements with manufacturers. Hertz typically responds to falling demand by selling cars from its fleet, so it has been hit especially hard by the drop in prices at used-car auctions.

White & Case is the company’s legal adviser, Moelis & Co. is the investment banker, and FTI Consulting Inc. is providing financial advice. Billionaire investor Carl Icahn holds a 39% equity stake.

Hertz, originally known as Rent-a-Car Inc., was founded in Chicago in 1918. It was operating 12,400 locations worldwide as of February.

Argentina to rework debt offer after missed interest payment #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/30388395?utm_source=category&utm_medium=internal_referral

Argentina to rework debt offer after missed interest payment

May 24. 2020
Photo credit: foreignbrief.com

Photo credit: foreignbrief.com
By Syndication Washington Post, Bloomberg · Jorgelina do Rosario, Patrick Gillespie · WORLD, THE-AMERICAS 
Argentina will improve the terms of its offer to restructure $65 billion of overseas bonds after sinking into default when it failed to make an interest payment.

Economy Minister Martin Guzman didn’t give any details on his plans in an interview at his office, but said discussions with creditor groups continue. The latest proposals from bondholders have shrunk the gap between the parties’ positions, he added.

The South American nation, burdened by inflation near 50% and a shrinking economy even before the pandemic hit, missed the final deadline for $500 million of interest payments Friday. The government has said Argentina needs $40 billion in debt relief to set it back on the path to sustainable growth, and officials have been in talks with bondholders for two months.

“Our intention is to amend the offer based on the negotiations so that it has a structure compatible with the restrictions we face, as well as bondholders’ preferences and objectives,” Guzman said. “The message we’ve received from bondholders is that they’re interested to continue talks.”

Argentina extended the deadline for creditors to consider its debt restructuring offer until June 2. Key bondholders have committed not to sue for immediate repayment on the defaulted debt, allowing talks to continue on friendlier terms, Guzman added.

A group of bondholders said the government invited some of its members as well as representatives from other creditor committees to sign a non-disclosure agreement for further talks.

“The Exchange Bondholder Group remains committed to the comprehensive restructuring proposal it submitted to Argentina on May 15,” the group said in a statement on Saturday.

Argentina has demanded a three-year moratorium on payments, sharp cuts to interest rates and a reduction in the principal owed. People familiar with the matter said earlier this week that there was a gap of about 20 cents on the dollar between what the government was offering and what creditors want.

The government remains flexible on the specifics of the deal and could use sweeteners to make it more appealing to creditors, according to Guzman.

“There’s flexibility on the combination of parameters,” he said. “While the counteroffers we received last week are closer than the first ones we received, they’re still far from what Argentina can sustain.”

Bonds were little changed Friday, with most securities trading between 30 and 40 cents on the dollar, as investors had largely anticipated that Argentina wouldn’t make the overdue interest payments. The notes had rallied from record lows in recent weeks amid some optimism an accord can be reached in coming days and weeks.

Investors are resigned to a certain amount of losses, and the government has tried to keep things friendly by avoiding rhetoric that demonized creditors, a hallmark of the country’s battles with hedge funds after its 2001 default.

Bondholder groups lamented the missed payment Friday but said negotiations will continue.

Argentina’s default at the turn of the century led to 15 years of costly court battles with creditors. It’s unlikely we’ll see a repeat of that, according to Alberto Ramos, the head of Latin American economics at Goldman Sachs Research.

“Given all these signals that all these things seem to be progressing, I don’t think anyone will litigate immediately,” Ramos said. “There will be an understanding with bondholders and life goes on.”

Housing market escapes crisis thanks to balancing of demand and supply #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/property/30388333?utm_source=category&utm_medium=internal_referral

Housing market escapes crisis thanks to balancing of demand and supply.

May 22. 2020
By The Nation

The Covid-19 crisis has impacted the housing market in the first quarter of 2020 not only in investments but also sale of housing but the slowing of demand and supply has balanced the market, reducing the risk of problems from excess supply, said Vichai Viratkapan, bank inspector and Real Estate Information Centre (REIC) head at Government Housing Bank.

In the first quarter of 2020, 89,024 units of ownership were transferred nationwide, down 16.7 per cent from the fourth quarter of 2019 but up 2.5 per cent year on year (YoY), with total value of Bt210 billion.

House ownership transfer in the Bangkok metropolitan area in the first quarter was 45,678 units, down 18.3 per cent quarter on quarter (QoQ) and 4.4 per cent YoY. The value of house ownership transfer was Bt129.406 billion, down 24.4 per cent QoQ and 2.7 per cent YoY.

The housing ownership transfer value in the region in the first quarter totalled 43,346 units, down 14.9 per cent QoQ but up10.9 per cent YoY. The value of ownership transfers was Bt80.888 billion, down 13.5 per cent QoQ but up 25.0 per cent YoY.

The REIC expects that by 2020 there will be 311,719 units of ownership transfers nationwide, down 16.7 per cent YoY. The total value of ownership transfer will be Bt746.206 billion, down 14.8 per cent YoY.

The Bangkok-metropolitan area will have 160,350 units of residential units, a decrease of 19.1 per cent YoY, with a total transfer value of Bt472.401 billion, down 17.4 per cent in value YoY. Total regional units will be 151,369, with the total value of transfer at Bt273.805 billion, down by 14 per cent and 9.9 per cent YoY respectively.

New individual housing loans

In the first quarter of 2020, the total value of individual housing loans was Bt138.238 billion, down 13 per cent YoY. The REIC expected that in 2020, the total number of new housing loans for individuals nationwide will be Bt571.196 billion, down by 10.8 per cent YoY.

New housing supply during the first quarter of 2020 showed that 60,165 units of residential building permits were issued nationwide, down 17.9 per cent QoQ and 27.7 per cent lower YoY. The number of residential construction permits in the Bangkok-metropolitan region was 20,590 units, a decrease of 18.6 per cent from the 4th quarter of 2019 and a decrease of 36.5 per cent compared to the same period last year. As for regional housing supply, 39,575 units of residential building permits were issued, down 27.8 per cent QoQ and 30.9 per cent lower YoY.

The REIC estimates that by 2020, 256,601 units of residential buildings permits will be issued nationwide, down 16.5 per cent YoY.

In the Bangkok-metropolitan region, there will be 97,441 units of residential building permits, down 20.7 per cent compared to last year. In the regions, it is expected that 154,160 units of residential building permits will be issued, down 22.7 per cent YoY.

According to survey data of new residential projects for sale, it was found that during the first quarter of 2020, there were 15,932 units of all types of new homes for sale in the Bangkok-metropolitan region, down by 49.3 per cent QoQ and down 29.6 per cent YoY. It is estimated that by the end of 2020, in the Bangkok-metropolitan region alone there will be 79,408 units of new housing for sale of all types, consisting of 35,734 units of newly-launched housing projects and 43,674 units of newly-opened condominiums, down 19.9 per cent YoY.

Meanwhile, the number of completed housing projects registered in the Bangkok-metropolitan region in the first quarter of 2020 also decreased with only 21,260 units registered, down 24.7 per cent QoQ and down by 12.3 per cent YoY.

It is expected that by the end of 2020 there will be approximately 80,563 units of registered completed housing units, down 27.8 per cent compared to 2019.

The direction of the housing market in 2020

The REIC expects that this year, despite the country’s overall economic slowdown, the housing market will not face the severe problems it did in 1998, due to adjustment in both demand and supply.

In addition, the “New Normal” trend in the housing market points to consumers being more interested in living in a house than a condominium. But, due to their tight budget, customers have to choose housing at a price that is within their ability to pay by instalments. The REIC expects that in the last quarter, those with income stability, such as civil servants and those with regular salary, will return to buy housing.

Thai Oil aims to cut costs, improve performance in wake of outbreak #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/30388341?utm_source=category&utm_medium=internal_referral

Thai Oil aims to cut costs, improve performance in wake of outbreak

May 23. 2020
 CEO and president Wirat Uanarumit

CEO and president Wirat Uanarumit
By THE NATION

Thai Oil Plc plans to cut its general expenditure for this year by Bt2 billion to Bt2.5 billion from its total expenditure of Bt10 billion per year, said CEO and president Wirat Uanarumit.

The cuts are in line with the company’s policy to control costs and improve performance amid the Covid-19 pandemic, which has brought down global demand for oil by 20 per cent.

However, he said it was a good sign that the price of crude oil rose to more than US$30 per barrel over May 20 and 21 after bottoming out in April.

Wirat said he expects the company’s refinery business in the second quarter to be better than the first quarter. The company also expects oil stocks to gain in the second half.

Alibaba sales growth plumbs new lows during China’s slowdown #ศาสตร์เกษตรดินปุ๋ย

#ศาสตร์เกษตรดินปุ๋ย : ขอบคุณแหล่งข้อมูล : หนังสือพิมพ์ The Nation.

https://www.nationthailand.com/business/30388344?utm_source=category&utm_medium=internal_referral

Alibaba sales growth plumbs new lows during China’s slowdown

May 22. 2020
A worker moves electronic goods across the warehouse in the e-commerce distribution center operated by Alibaba Group Holding in Domodedovo, Russia, on Feb. 4, 2019. MUST CREDIT: Bloomberg photo by Andrey Rudakov.

A worker moves electronic goods across the warehouse in the e-commerce distribution center operated by Alibaba Group Holding in Domodedovo, Russia, on Feb. 4, 2019. MUST CREDIT: Bloomberg photo by Andrey Rudakov.
By Syndication Washington Post, Bloomberg · Zheping Huang · BUSINESS, WORLD, CAREER-WORKPLACE, ASIA-PACIFIC 

Alibaba Group Holding forecast slower revenue growth this year, reflecting the impact of a Chinese economic contraction on the country’s largest online marketplaces.

The Chinese e-commerce leader forecast growth in revenue this year of at least 27.5% to more than 650 billion yuan ($91 billion), a deceleration from the previous year’s 35% and below analysts’ estimates. It also reported a better-than-expected 22% rise in March quarter sales to 114.3 billion yuan, but it marks the slowest-ever pace of revenue expansion.

Online shopping began to bounce back from March, executives said Friday. But the tepid results demonstrate the world’s second largest economy has yet to fully shake off covid-19, with consumers still hesitant about spending on big-ticket items. Asia’s largest corporation is tackling not just a record slowdown in its home market but also the rise of rivals such as ByteDance and Pinduoduo. Total e-commerce in China rose just 5.9% in the coronavirus-stricken quarter, less than a third of 2019’s pace, according to government data.

Alibaba has lost more than $40 billion of market value since the coronavirus first erupted in January, and now has to grapple with not just an uncertain global economic environment but also any potential fallout from U.S.-Chinese financial tensions. On Friday, executives sought to assuage concerns about a U.S. bill that mandates much closer accounting scrutiny of U.S.-listed Chinese companies and may bar them from American bourses.

Chief Financial Officer Maggie Wu said Alibaba’s financial statements have been consistently prepared in accordance with U.S. GAAP accounting measures and were beyond reproach. “The integrity of Alibaba’s financial statements speak for itself, we have been an SEC filer since 2014 and hold ourselves to the highest standard,” she told analysts on a conference call. “We will endeavor to comply with any legislation whose aim is to protect and bring transparency to investors who buy securities on U.S. stock exchanges.”

The bigger short-term challenge is in reviving growth: Alibaba’s bread-and-butter customer management or marketing business grew just 3% in the March quarter. The Tmall operator is going head-to-head with social media and gaming giant Tencent Holdings Ltd. for internet leadership in everything from online media to payments and cloud computing.

Net income was 3.2 billion yuan, down 88% from a year ago when it booked an 18.7 billion yuan one-time gain on investments. In February, Alibaba declared a waiver of some service fees for merchants struggling financially during the outbreak on its main direct-to-consumer Tmall platform. In April, the company rolled out a new 10-billion-yuan subsidy program for Tmall users to buy electronics, encroaching on JD.com’s traditional turf. These initiatives may further compress margins for the June quarter.

“The challenging part is for them to achieve the same amount of growth this year,” said Steven Zhu, a Shanghai-based analyst with Pacific Epoch. “Just because they are too big, for the same amount of growth, they need to spend much more effort.”

But executives were confident in a gradual e-commerce recovery over the year. Beyond its main business, younger divisions such as its cloud computing arm should buoy its bottom line. That division’s revenue jumped 58% in the quarter.

“Despite a challenging quarter due to reduced economic activities in light of the COVID-19 pandemic in China, we achieved our annual revenue guidance,” Wu said in a statement. “Although the pandemic negatively impacted most of our domestic core commerce businesses starting in late January, we have seen a steady recovery since March.”