WEST ALLIS, WIS. — The annual Wisconsin State Fair, scheduled to take place Aug. 6-16 in West Allis, has been cancelled due to COVID-19. The fair is the largest event in the state, drawing more than 1 million people each year. The financial implications associated with hosting a fair with significantly reduced attendance and implementing safety measures could be detrimental to the future of State Fair Park, according to the board of directors. Previously purchased admission tickets can be used for the 2021 Wisconsin State Fair, which is scheduled to take place Aug. 5-15. Refunds are available through June 30.
coronavirus
Pennsylvania Gov. Wolf Lifts Pandemic Restrictions in 26 Counties, Allows Retailers, Businesses to Reopen
by Alex Patton
HARRISBURG, PA. — Pennsylvania Gov. Tom Wolf has lifted pandemic restrictions, including a strict stay-at-home order, from 26 counties and given, retailers and businesses in those counties the green light to reopen with social distancing measures in place. The governor made the announcement this morning. Under the terms of the plan, businesses must enforce public health protocols including wearing masks, restricting restaurants to outdoor dine-in seating only and limiting all gatherings to 25 people. Business allowed to reopen with restrictions include overnight camps and organized youth sports, restaurants, bars, salons and barber shops, gyms, theaters, malls and casinos. The reopened counties are primarily concentrated in the northwestern region of the state, while the metro Philadelphia region remains shut down until at least June 5. As of May 28, the Centers for Disease Control and Prevention reported more than 70,000 confirmed cases of COVID-19 in Pennsylvania and nearly 5,400 deaths.
WOONSOCKET, R.I. — CVS/pharmacy has added 55 COVID-19 testing sites in North Carolina and 15 sites in South Carolina. The tests are accessible through appointments only. Patients will be required to stay in their cars and will be directed to the pharmacy drive-thru window, where they will be provided with a test kit and given instructions. A CVS team member will observe the self-swab process to ensure it is done properly. Tests will be sent to an independent, third-party lab for processing and the results will be available in approximately three days. In North Carolina, the 55 new sites are located in 29 cities, including seven sites in Charlotte, five in Raleigh, four in Cary, four in Durham, three in Fayetteville and three in Winston-Salem. In South Carolina, the locations are in Anderson, Charleston, Clemson, Columbia, Greenville, Mount Pleasant, Myrtle Beach, North Charleston, North Augusta, Spartanburg and West Columbia. With the 70 locations, Woonsocket-based CVS has now opened 986 testing sites in the country. Click here to see a full list of the locations.
MIAMI GARDENS, FLA. — With sports absent from Americans’ daily lives due to the COVID-19 outbreak, Hard Rock Stadium in Miami Gardens has pivoted to offer a drive-in movie theater. The 65,000-seat stadium is home to the NFL’s Miami Dolphins and college football’s University of Miami Hurricanes. The field will be able to hold up to 230 cars and the open-air theater will host small groups. Events throughout Dolphins’ team history, family-friendly movies and even commencement ceremonies will be shown. Food and beverages can be purchased through an online system and delivered to cars. Those wanting to participate can click here to put their names on an email list for when tickets become available.
CHICAGO — Cushman & Wakefield has conducted a global survey of more than 40,000 individuals to shed light on work-from-home experiences during the COVID-19 pandemic, including how employees are coping and what the new normal will look like as offices reopen. Survey respondents represent approximately 30 companies across nearly 20 industries. Results show that productivity generally remains strong and team collaboration has reached new heights through better leverage of remote technology, says Cushman & Wakefield. Three-quarters of respondents agreed or strongly agreed that they are collaborating effectively with colleagues in the current environment, up 10 percent from data gathered before COVID-19. In addition, 73 percent of respondents indicated they would like their companies to embrace long-term or permanent flexible working policies. “It’s imperative to recognize that the workplace will no longer be a single location, but an ecosystem of a variety of locations and experiences to support flexibility, functionality and employee well-being,” says Brett White, executive chairman and CEO. “That said, we expect current real estate footprint sizes to remain steady. Flexible working practices may result in fewer people in the office at any one time, but that space savings is offset by the need to accommodate social distancing in …
Another 2.1M Americans File First-Time Unemployment Claims, Number of Continuing Claims Drops by 3.9M
by Alex Tostado
WASHINGTON, D.C. — Another 2.1 million American filed first-time unemployment claims during the week ending May 23, the U.S. Department of Labor reported Thursday. Since the COVID-19 outbreak in March, 40.6 million Americans, or one in four in the workforce, have submitted claims. A continuing trend, though, is the steady decline in first-time weekly claims, which have decreased in number for eight consecutive weeks. The four-week moving average was 2.6 million claims, a decrease of 436,000 from the previous week’s moving average. Additionally, the number of continuing claims dropped by 3.9 million to just over 21 million overall.
ORLANDO, FLA. — Walt Disney World Resorts has submitted a proposal to the Orange County Economic Recovery Task Force to begin reopening the Orlando parks July 11. Pending approval, Magic Kingdom and Animal Kingdom will open July 11 and Hollywood Studios and Epcot will reopen July 15. In an effort to limit large gatherings, parades and nighttime fireworks shows will still be indefinitely unavailable. Additionally, “high-touch” experiences, such as makeovers, playgrounds and character meet-and-greets, will also be temporarily unavailable, though characters will still be in the parks. To limit capacity, Disney will pause new ticket sales so it can focus on guests with existing tickets and reservations. Each guest must register in advance for park entry. A timeline for a vote from Orange County was not disclosed. Furthermore, Walt Disney CEO Bob Chapek said in an interview with ABC News that the company is in daily talks with the NBA to try to get the sports league to finish out its season at the Orlando sports park.
DETROIT — Bedrock, the real estate development company created by Quicken Loans Founder Dan Gilbert, has implemented a program called Bedrock Relaunch, which will build off its rent relief program that began in March with three months of rent abatement. Through Bedrock Relaunch, the landlord will provide all eligible, operating restaurant and retail tenants with the option to waive all rent and fees for the month of June; waive base rent in favor of paying 7 percent of gross sales starting in July; and apply the security deposit toward reopening costs. The temporary lease amendments will span the remainder of 2020. “It is becoming clear that even when all businesses are able to reopen, it’s unlikely their sales volume will immediately return to pre-pandemic levels, and we want to make sure that rent payments aren’t a barrier to success,” says Matt Cullen, Bedrock CEO. “Dan Gilbert founded Bedrock 10 years ago on the principle that a landlord should be an invested partner with each tenant as well as a responsible corporate citizen. We are committed to doing everything we can to make sure we all come out of this together, including looking into experiential initiatives that will help drive traffic …
IOWA — Iowa Gov. Kim Reynolds has signed a new proclamation permitting the reopening of outdoor performance venues, casinos, bowling alleys, amusement parks, skating rinks, skate parks and outdoor playgrounds starting June 1. The proclamation enables bars, wineries, breweries, distilleries and social and fraternal clubs to reopen starting May 28 with the same public health measures that restaurants have put in place. Under the order, social or sports gatherings of more than 10 people are permitted if public health measures are implemented, including limiting attendance to 50 percent of capacity and maintaining six feet of distance between participants. The state has also extended the public health disaster emergency until June 25, extending regulatory relief to those affected by the pandemic.
CHICAGO — Ventas Inc. (NYSE: VTR), a Chicago-based REIT and one of the largest owners of seniors housing in the United States, has adjusted its corporate cost structure in response to the COVID-19 pandemic’s impact on the company. In mid-June, Ventas plans to eliminate roles representing over 25 percent of its corporate positions, excluding onsite field personnel, according to a May 27 SEC filing. In addition, for the second half of 2020, the company will reduce the base salary of CEO Deb Cafaro by 20 percent, while reducing the salaries of other executive officers by 10 percent. As a result of these actions, Ventas predicts third-quarter selling, general and administrative (SG&A) expenses will be $25 million to $30 million lower than during the same period in 2019. The move is a continuation of Ventas’ initiatives to conserve capital as the pandemic drives expenses up and revenues down. Though the company reported $3.2 billion in cash on hand during its first-quarter report issued in May, Ventas plans reduce capital expenditures this year by between $300 million and $500 million. The company has paused construction, offered rent deferrals to struggling communities and issuing free COVID-19 tests to its operators. Like most companies …