The Czech Republic, Hungary and Poland failed to comply with a deal to distribute across the bloc 160,000 asylum seekers who had arrived in Greece and Italy, according to the ruling.
Reported by NYTimes.com 23 hours ago.
↧
E.U. Court Rules That 3 Countries Broke Agreement to Take In Refugees
↧
UN: 95% of Europe's virus dead over 60 but young not immune
GENEVA (AP) — More than 95% of those who have died of coronavirus in Europe have been over 60 but young people should not be complacent, the head of the World Health Organization's office in Europe said Thursday.
Dr. Hans Kluge said age is not the only risk factor for getting a severe case of the virus that has put billions under lockdown and upended the world economy.
“The very notion that COVID-19 only affects older people is factually wrong,” he said at an online news conference in Copenhagen. "Young people are not invincible.”
Those comments echoed similar statements from WHO Director-General Tedros Adhanom Ghebreyesus.
The U.N. health agency says 10% to 15% of people under 50 with the disease have moderate or severe cases.
“Severe cases of the disease have been seen in people in their teens or 20s, with many requiring intensive care and some unfortunately passing away,” Kluge said.
He said recent statistics showed 30,098 people have been reported to have died in Europe, mostly in Italy, France and Spain.
“We know that over 95% of these deaths occurred in those older than 60 years,” he said, with more than half of the dead over 80.
Kluge said more than 80% of those who died had at least one other chronic underlying condition like cardiovascular disease, hypertension or diabetes.
“On a positive note, there are reports of people over the age of 100 who were admitted to hospital for COVID-19 and have now — since — made a complete recovery,” he said.
___ Reported by SeattlePI.com 22 hours ago.
Dr. Hans Kluge said age is not the only risk factor for getting a severe case of the virus that has put billions under lockdown and upended the world economy.
“The very notion that COVID-19 only affects older people is factually wrong,” he said at an online news conference in Copenhagen. "Young people are not invincible.”
Those comments echoed similar statements from WHO Director-General Tedros Adhanom Ghebreyesus.
The U.N. health agency says 10% to 15% of people under 50 with the disease have moderate or severe cases.
“Severe cases of the disease have been seen in people in their teens or 20s, with many requiring intensive care and some unfortunately passing away,” Kluge said.
He said recent statistics showed 30,098 people have been reported to have died in Europe, mostly in Italy, France and Spain.
“We know that over 95% of these deaths occurred in those older than 60 years,” he said, with more than half of the dead over 80.
Kluge said more than 80% of those who died had at least one other chronic underlying condition like cardiovascular disease, hypertension or diabetes.
“On a positive note, there are reports of people over the age of 100 who were admitted to hospital for COVID-19 and have now — since — made a complete recovery,” he said.
___ Reported by SeattlePI.com 22 hours ago.
↧
↧
Brescia ready to forfeit matches if Italian season resumes
BRESCIA, Italy (AP) — The president of Italian soccer club Brescia said Thursday he will forfeit his team’s remaining Serie A matches if the league resumes. Brescia is the third-worst hit province in Italy with more than 8,500 coronavirus cases and more than 1,300 deaths. “This season doesn’t make sense anymore,” Massimo Cellino said in […]
Reported by Seattle Times 21 hours ago.
↧
Bank of America forecasts a deep recession in Europe with the economy shrinking almost 8% this year
· Bank of America sharply cut its 2020 growth forecast for Europe from 1% expansion to a 7.6% contraction.· More fiscal support is "urgently needed" to avoid bigger damage, the bank said in a note on Thursday.
· The European economic chokehold, however, is expected to be temporary as BofA analysts anticipate GDP growth of 8.3% in 2021.
· Visit Business Insider's homepage for more stories.
The European economy will shrink by 7.6% this year, Bank of America predicted on Thursday, warning that policymakers are not going far enough in stimulating growth.
Prior to the novel coronavirus outbreak, the banking titan expected growth of 1% this year for the 19-member eurozone.
Analysts attributed the sharp cut to increasingly severe quarantine measures across Europe, even while the rate of new infections in Italy and other regions has slowed down.
*Read more: Wall Street's disaster playbook never included work-from-home trading. Insiders explain how banks rapidly adjusted during one of the most chaotic markets in history.*
Although the European Central Bank has launched stimulus packages in response to the growing risk of coronavirus, BofA says "more fiscal help will be needed to limit permanent damage to the corporate sector and jobs."
Uncertainty about the duration of the quarantine period has impaired the construction and manufacturing sectors, both of which analysts presumed would be relatively unhurt.
Despite an anticipated ease in lockdown measures around May, analysts said the return to work would be a lot slower than previously estimated.
This anticipated recession has wider implications for the global economy. Among the eurozone's members, Italy is still one of the countries that never quite fully recovered from its sovereign debt crisis in 2010. Many of its banks are still fragile and loaded with government debt.
*Read more: 'We are in an unprecedented moment of global distress': Read the full memo billionaire Ken Griffin sent to Citadel employees on the coronavirus crisis*
Flash readings for the eurozone - which include Italy and Spain - show manufacturing output declined from 48.7 to 39.5, an almost 11-year low. Services activity fell from 52.6 to 28.4, another record low.
*SEE ALSO: 'Truly horrifying': 6 economic surveys show coronavirus is hammering the global economy*
*SEE ALSO: George Soros' cofounder warns coronavirus will cause the 'worst bear market in my lifetime'*
*SEE ALSO: 'The pain looks far from over': Stocks whipsaw as oil plunges to 17-year low on coronavirus fears*
Join the conversation about this story »
NOW WATCH: A big-money investor in juggernauts like Facebook and Netflix breaks down the '3rd wave' firms that are leading the next round of tech disruption Reported by Business Insider 21 hours ago.
↧
Manitex International, Inc. Provides Business Update to Address COVID-19
*BRIDGEVIEW, IL / ACCESSWIRE / April 2, 2020 /* Manitex International, Inc. (NASDAQ:MNTX), a leading international provider of cranes and specialized industrial equipment, today provided an update to investors in response to the evolving COVID-19 virus pandemic.The company reports that production and deliveries were minimally affected by COVID-19-related disruptions and precautions for the majority of the first quarter. However, the state-mandated closure of the company's Italian facilities on March 21, 2020 will keep the facilities closed until April 9, at the earliest. North American operations have remained open with production levels being matched to maximize production efficiency and customer order patterns, which remain subject to change in this evolving situation.
Steve Filipov, Chief Executive Officer, commented, "The global COVID-19 crisis has brought with it a set of extremely challenging operating conditions, and decisions that we, along with every other company in our industry, are facing. We are following every applicable national and local law and health standard to provide for the safety of our employees, suppliers and their families which are of paramount importance. We are fortunate to have had no confirmed cases of COVID-19 infections in our plants to date."
"Once we can get back up and running in Italy, our team stands ready to quickly ramp up and limit the production shortfall, to deliver the orders we have on hand. We have taken prudent cost-containment measures to conserve cash during this period of uncertainty. Our liquidity remains healthy with approximately $20 million in cash and $24 million in availability on our revolving credit line as of March 31, 2020," concluded Mr. Filipov.
*About Manitex International, Inc.*
Manitex International, Inc. is a leading worldwide provider of highly engineered mobile cranes (truck mounted straightmast and knuckle boom cranes, industrial cranes, rough terrain cranes and railroad cranes), truck mounted aerial work platforms and specialized industrial equipment. Our products, which are manufactured in facilities located in the USA and Europe, are targeted to selected niche markets where their unique designs and engineering excellence fill the needs of our customers and provide a competitive advantage. We have consistently added to our portfolio of branded products and equipment both through internal development and focused acquisitions to diversify and expand our sales and profit base while remaining committed to our niche market strategy. Our brands include Manitex, PM, Oil & Steel, Badger, and Valla.
*Forward-Looking Statements*
Safe Harbor Statement under the U.S. Private Securities Litigation Reform Act of 1995: This release contains statements that are forward-looking in nature which express the beliefs and expectations of management including statements regarding the Company's expected results of operations or liquidity; statements concerning projections, predictions, expectations, estimates or forecasts as to our business, financial and operational results and future economic performance; and statements of management's goals and objectives and other similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by terminology such as "anticipate,""estimate,""plan,""project,""continuing,""ongoing,""expect,""we believe,""we intend,""may,""will,""should,""could," and similar expressions. Such statements are based on current plans, estimates and expectations and involve a number of known and unknown risks, uncertainties and other factors that could cause the Company's future results, performance or achievements to differ significantly from the results, performance or achievements expressed or implied by such forward-looking statements. These factors and additional information are discussed in the Company's filings with the Securities and Exchange Commission and statements in this release should be evaluated in light of these important factors. Although we believe that these statements are based upon reasonable assumptions, we cannot guarantee future results. Forward-looking statements speak only as of the date on which they are made, and the Company undertakes no obligation to update publicly or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.
*CONTACT:*
Manitex International, Inc.
Steve Filipov
Chief Executive Officer
(708) 237-2054
sfilipov@manitex.com
Darrow Associates Inc.
Peter Seltzberg, Managing Director
Investor Relations
(516) 419-9915
pseltzberg@darrowir.com
*SOURCE: *Manitex International, Inc.
View source version on accesswire.com:
https://www.accesswire.com/583593/Manitex-International-Inc-Provides-Business-Update-to-Address-COVID-19 Reported by Accesswire 19 hours ago.
↧
↧
Quarantined Italians do the Macarena together...sort of
People living in Turin, Italy were seen dancing and singing along to Los Del Rio's "Macarena" to make the most of life in quarantine in the wake of the COVID-19 outbreak.
Reported by USATODAY.com 19 hours ago.
Reported by USATODAY.com 19 hours ago.
↧
WeWork has a new CEO and leadership team as it tries to right the ship — here's everything that's going on inside the coworking giant
· WeWork pulled its IPO in 2019 after mulling a massive valuation cut to drum up investor interest, and cofounder Adam Neumann was ousted as CEO and chairman. WeWork has been slashing jobs and selling or shuttering businesses.
· New CEO real-estate veteran Sandeep Mathrani started in February, replacing Artie Minson and Sebastian Gunningham, who served as co-CEOs since Neumann was ousted.
· In April, investor SoftBank said it's backing out of its plan to buy $3 billion worth of WeWork shares, including nearly $1 billion from Neumann. The decision also most likely means WeWork won't be able to tap into a $1.1 billion credit line from the Japanese conglomerate.
· Here's how we got here, and what's next for WeWork.
· You can read our stories by subscribing to BI Prime.
Here's everything we know about what's going on inside WeWork:
*The latest*
· SoftBank could walk away from the $3 billion WeWork stock buybacks it agreed to as part of its bailout plan: WSJ
· Real-estate giant JLL is gaining a key partnership as WeWork unloads its Managed by Q business at a fire-sale price
· WeWork just gave its US tenants guidance on coronavirus outbreak — weeks after the outbreak started
· WeWork paid over $2 million in cash to a woman who threatened to expose claims of sex, illegal drugs, and discrimination in a horrifying 50-page document
· WeWork's head of enterprise sales is out, leaving a role that's key to the coworking giant's turnaround plan vacant
· WeWork's new CEO Sandeep Mathrani has to pull off one of the most difficult turnarounds Silicon Valley has ever seen. Insiders explain what he's like, and why he's the guy to do it.
· WeWork's board shakeup sees 3 longtime directors depart. Another is leaving in April, and the company is adding its first female board member.
· Meet Rebekah Neumann: Insiders describe the spiritual, strategic mastermind who was the driving force behind WeWork and her husband, Adam Neumann
· 'We fell short in Q4': WeWork only hit 73% of an internal enterprise growth target in 2019, leaked memo shows
*Have a WeWork tip?* Contact reporter Meghan Morris via encrypted messaging app Signal at +1 (646) 768-1627 using a non-work phone, email at mmorris@businessinsider.com, or Twitter DM at @MeghanEMorris. (PR pitches by email only, please.) You can also contact Business Insider securely via SecureDrop.
*Executive changes under CEO Sandeep Mathrani*
· WeWork continues executive buildout with Baker Hughes CFO
· WeWork's new CEO just tapped AT&T and movie theater execs for c-suite roles to build out his leadership team
· WeWork's US president — and Adam Neumann's friend — will leave days after the firm's new CEO joins
· WeWork just announced a new COO in its first major hire under new CEO*Plotting a path forward*
· Real-estate giant JLL is gaining a key partnership as WeWork unloads its Managed by Q business at a fire-sale price
· WeWork is getting rid of free beer and wine on tap in all of its North American locations — here's how it's explaining the move
· WeWork is now paying a retainer of $500,000 a month to Publicis for crisis PR and advertising services just weeks after almost running out of cash
· WeWork just overhauled its compensation plan, and we have the full memo with details on cash bonuses, base salary changes, and new equity grants
· WeWork shutters its restaurant-based coworking subsidiary, Spacious, and lays off the entire staff of about 50 employees
· BANK OF AMERICA: WeWork and other IPO disasters could start a domino effect that sends US stocks tumbling. Here's how.
· WeWork's turnaround plan calls for it to stanch its losses while opening hundreds of new locations. Here's why business and real-estate experts are baffled.
*SoftBank bailout*
· SoftBank could walk away from the $3 billion WeWork stock buybacks it agreed to as part of its bailout plan: WSJ
· Read the memo WeWork's new chairman just sent to all staff outlining its 5-year plan using the New York City Marathon as a metaphor
· Read the email WeWork's co-CEOs sent to the troops after SoftBank brought in a new chairman to salvage the company
· Inside WeWork's all-hands meeting, where the new chairman from SoftBank addressed employee concerns about worthless stock options and Kanye West's 'Flashing Lights' played
· Read the email from WeWork's new chairman where he confirms layoffs and says: What we are lacking is focus' and 'accountability'
· SoftBank likely had the Vision Fund on its mind when it decided to rescue WeWork
*Fallout after the failed IPO*
· Jefferies just took another WeWork hit with a $69 million writedown to its stake in the coworking company
· Life after WeWork: Laid-off employees take their next steps via Google docs, viral LinkedIn posts, and recruiting events hosted by ex-colleagues
· WeWork's coding boot camp Flatiron School has laid off dozens of employees
· WeWork plans to outsource cleaning and maintenance in first step of big staff cuts, leaked email shows
· Goldman Sachs unloaded some of its WeWork shares before its investment bankers pitched investors on what it once considered a $60 billion-plus IPO
· Inside WeWork's troubled $850 million Lord & Taylor building: A tale of outsize ambition, audacious renovations, and now financial worries
· WeWork's school is closing at the end of the academic year as the company ditches passion projects to stem its huge losses
*Neumann's personal finances*
· WeWork cofounder Adam Neumann personally invested $30 million in a startup and loaned money to its CEO. Then the CEO got fired over alleged gross misconduct.
· Adam Neumann lent money to phone distributor PCS Wireless this spring, showing how his family office is investing beyond startups
· Adam Neumann spent over $650,000 on property taxes last year — that's more than double the median US home value
· Wall Street gave Adam Neumann up to $500 million he was going to pay back after WeWork's IPO. Now that the offering is pulled, banks are scrambling to hammer out a solution.
*Neumann's exit*
· The Kabbalah Connection: Insiders say a celebrity-centered religious sect deeply influenced how Adam Neumann ran WeWork before its spectacular collapse
· Sex, tequila, and a tiger: Employees inside Adam Neumann's WeWork talk about the nonstop party to attain a $100 billion dream and the messy reality that tanked it
· Governance sank WeWork from the start, a VC and Stanford lecturer says. Here's what any founder can learn from Adam Neumann's cautionary tale.
· At least 5 longtime members of Adam Neumann's inner circle are out, but cofounder Miguel McKelvey will remain as WeWork revamps itself
*Tanking valuation *
· WeWork's competitors are scrambling to distance themselves from the co-working giant, but many are following the same script
· WeWork cofounders Adam and Rebekah Neumann are close friends with Ivanka Trump and Jared Kushner and invited them to Rebekah's extravagant 40th birthday bash in Italy
· The CEO of $1 billion WeWork rival Knotel says the idea of coworking is 'over'
· Tech IPO injury report: Some of the biggest names in tech have taken a beating after going public this year
· 3 VC investors in flex-space startups slam WeWork's governance and leadership as its valuation crumbles
· WeWork is doing increasing amounts of business with SoftBank, which is also its biggest investor
· The history of WeWork's meteoric valuation rise — and fall
*Financials, business history, and real estate*
· 'We fell short in Q4': WeWork only hit 73% of an internal enterprise growth target in 2019, leaked memo shows
· WeWork paid over $2 million in cash to a woman who threatened to expose claims of sex, illegal drugs, and discrimination in a horrifying 50-page document
· A WeWork exec who was Rebekah Neumann's cousin regularly ran up huge expense reports before other execs ganged up and forced him out
· WeWork just released an investor presentation that offers numbers the company didn't include in its widely-derided IPO documents
· Insiders say WeWork's IT is a patchwork of cheap devices and Band-Aid fixes that will take millions to fix
· WeWork used massive discounts — in some cases, essentially giving away space for 2 years — to try to poach customers from rivals
*Coworking rivals*
· Here's how 8 flex-office execs are battling the WeWork effect: Bigger customers, tamer decor, and partnering more with landlords
· WeWork is the largest 'flex-space' operator in the US — and the real estate sector is slated to only keep its 600% boom going
· Industrious' CEO tells us why the coworking startup is ditching leases and managing property instead. Bigger rival WeWork is eyeing a similar pivot to help erase losses
· Convene's CEO says the $500 million flex-space startup is a hospitality company that partners with real estate, not a tech company. Here's an inside look at the company's financials.
· Seduced by WeWork's sky-high valuation, coworking firms have multiplied. A shakeout could see them merge, shutter, or specialize.
· Salaryo, a startup that loans people money to rent flex office spaces, just nabbed funding. It adds another layer of financing to the world of WeWork and its rivals.
*Road to the failed IPO*
· WeWork might be painting itself as a tech company, but it's facing a bunch of old-school real estate worries
· WeWork lays out its path to profitability – and most of its options involve slowing its breakneck growth
· Here are the 5 biggest questions facing WeWork as it prepares for its IPO
· WeWork is setting up a $2.9 billion fund to buy buildings that it will lease to itself
*Neumann's leadership*
· Meet Rebekah Neumann: Insiders describe the spiritual, strategic mastermind who was the driving force behind WeWork and her husband, Adam Neumann
· Adam Neumann demoted his chief of staff for being pregnant, a new complaint against the ousted CEO and WeWork alleges
· WeWork details CEO Adam Neumann's web of loans, real-estate deals, and family involvement with the company
· Lots of extremely successful founders in Silicon Valley cash out early. But WeWork's CEO pocketing $700 million is still far from normal.
· WeWork's CEO says the way it rents out office space makes companies' financials look better. Some experts aren't sure how legitimate the pitch is.
*SoftBank's role*
· Here's everything we know about how startups raise money from SoftBank's $100 billion Vision Fund
· WeWork's CEO raised $4.4 billion from a Saudi-backed fund, but said going forward he'd consider declining investments on moral grounds
· How WeWork's CEO grew a $10 billion relationship with SoftBank CEO Masayoshi Son, whom he calls 'Yoda'
· It took a day for WeWork's CEO to recover from the shock of a $16 billion SoftBank investment falling apart
· WeWork and Uber are giving SoftBank a black eye, but that doesn't mean Vision Fund II is in trouble, experts say
*Deals*
· Real-estate giant JLL is gaining a key partnership as WeWork unloads its Managed by Q business at a fire-sale price
· WeWork's tech head explains why the office provider is buying a building access app used by top landlords
· Here are all the wild things, from wave pools to turmeric coffee creamer, that WeWork's surfing founder has invested in
· WeWork acquires $249 million office-services startup Managed by Q as it goes after larger business customers
· $20 billion startup WeWork continues its shopping spree with $200 million for Meetup
· WeWork just led a $32 million funding round for a female-run startup that's basically a social club for women
Join the conversation about this story »
NOW WATCH: WeWork went from a $47 billion valuation to a failed IPO. Here's how the company makes money. Reported by Business Insider 19 hours ago.
· New CEO real-estate veteran Sandeep Mathrani started in February, replacing Artie Minson and Sebastian Gunningham, who served as co-CEOs since Neumann was ousted.
· In April, investor SoftBank said it's backing out of its plan to buy $3 billion worth of WeWork shares, including nearly $1 billion from Neumann. The decision also most likely means WeWork won't be able to tap into a $1.1 billion credit line from the Japanese conglomerate.
· Here's how we got here, and what's next for WeWork.
· You can read our stories by subscribing to BI Prime.
Here's everything we know about what's going on inside WeWork:
*The latest*
· SoftBank could walk away from the $3 billion WeWork stock buybacks it agreed to as part of its bailout plan: WSJ
· Real-estate giant JLL is gaining a key partnership as WeWork unloads its Managed by Q business at a fire-sale price
· WeWork just gave its US tenants guidance on coronavirus outbreak — weeks after the outbreak started
· WeWork paid over $2 million in cash to a woman who threatened to expose claims of sex, illegal drugs, and discrimination in a horrifying 50-page document
· WeWork's head of enterprise sales is out, leaving a role that's key to the coworking giant's turnaround plan vacant
· WeWork's new CEO Sandeep Mathrani has to pull off one of the most difficult turnarounds Silicon Valley has ever seen. Insiders explain what he's like, and why he's the guy to do it.
· WeWork's board shakeup sees 3 longtime directors depart. Another is leaving in April, and the company is adding its first female board member.
· Meet Rebekah Neumann: Insiders describe the spiritual, strategic mastermind who was the driving force behind WeWork and her husband, Adam Neumann
· 'We fell short in Q4': WeWork only hit 73% of an internal enterprise growth target in 2019, leaked memo shows
*Have a WeWork tip?* Contact reporter Meghan Morris via encrypted messaging app Signal at +1 (646) 768-1627 using a non-work phone, email at mmorris@businessinsider.com, or Twitter DM at @MeghanEMorris. (PR pitches by email only, please.) You can also contact Business Insider securely via SecureDrop.
*Executive changes under CEO Sandeep Mathrani*
· WeWork continues executive buildout with Baker Hughes CFO
· WeWork's new CEO just tapped AT&T and movie theater execs for c-suite roles to build out his leadership team
· WeWork's US president — and Adam Neumann's friend — will leave days after the firm's new CEO joins
· WeWork just announced a new COO in its first major hire under new CEO*Plotting a path forward*
· Real-estate giant JLL is gaining a key partnership as WeWork unloads its Managed by Q business at a fire-sale price
· WeWork is getting rid of free beer and wine on tap in all of its North American locations — here's how it's explaining the move
· WeWork is now paying a retainer of $500,000 a month to Publicis for crisis PR and advertising services just weeks after almost running out of cash
· WeWork just overhauled its compensation plan, and we have the full memo with details on cash bonuses, base salary changes, and new equity grants
· WeWork shutters its restaurant-based coworking subsidiary, Spacious, and lays off the entire staff of about 50 employees
· BANK OF AMERICA: WeWork and other IPO disasters could start a domino effect that sends US stocks tumbling. Here's how.
· WeWork's turnaround plan calls for it to stanch its losses while opening hundreds of new locations. Here's why business and real-estate experts are baffled.
*SoftBank bailout*
· SoftBank could walk away from the $3 billion WeWork stock buybacks it agreed to as part of its bailout plan: WSJ
· Read the memo WeWork's new chairman just sent to all staff outlining its 5-year plan using the New York City Marathon as a metaphor
· Read the email WeWork's co-CEOs sent to the troops after SoftBank brought in a new chairman to salvage the company
· Inside WeWork's all-hands meeting, where the new chairman from SoftBank addressed employee concerns about worthless stock options and Kanye West's 'Flashing Lights' played
· Read the email from WeWork's new chairman where he confirms layoffs and says: What we are lacking is focus' and 'accountability'
· SoftBank likely had the Vision Fund on its mind when it decided to rescue WeWork
*Fallout after the failed IPO*
· Jefferies just took another WeWork hit with a $69 million writedown to its stake in the coworking company
· Life after WeWork: Laid-off employees take their next steps via Google docs, viral LinkedIn posts, and recruiting events hosted by ex-colleagues
· WeWork's coding boot camp Flatiron School has laid off dozens of employees
· WeWork plans to outsource cleaning and maintenance in first step of big staff cuts, leaked email shows
· Goldman Sachs unloaded some of its WeWork shares before its investment bankers pitched investors on what it once considered a $60 billion-plus IPO
· Inside WeWork's troubled $850 million Lord & Taylor building: A tale of outsize ambition, audacious renovations, and now financial worries
· WeWork's school is closing at the end of the academic year as the company ditches passion projects to stem its huge losses
*Neumann's personal finances*
· WeWork cofounder Adam Neumann personally invested $30 million in a startup and loaned money to its CEO. Then the CEO got fired over alleged gross misconduct.
· Adam Neumann lent money to phone distributor PCS Wireless this spring, showing how his family office is investing beyond startups
· Adam Neumann spent over $650,000 on property taxes last year — that's more than double the median US home value
· Wall Street gave Adam Neumann up to $500 million he was going to pay back after WeWork's IPO. Now that the offering is pulled, banks are scrambling to hammer out a solution.
*Neumann's exit*
· The Kabbalah Connection: Insiders say a celebrity-centered religious sect deeply influenced how Adam Neumann ran WeWork before its spectacular collapse
· Sex, tequila, and a tiger: Employees inside Adam Neumann's WeWork talk about the nonstop party to attain a $100 billion dream and the messy reality that tanked it
· Governance sank WeWork from the start, a VC and Stanford lecturer says. Here's what any founder can learn from Adam Neumann's cautionary tale.
· At least 5 longtime members of Adam Neumann's inner circle are out, but cofounder Miguel McKelvey will remain as WeWork revamps itself
*Tanking valuation *
· WeWork's competitors are scrambling to distance themselves from the co-working giant, but many are following the same script
· WeWork cofounders Adam and Rebekah Neumann are close friends with Ivanka Trump and Jared Kushner and invited them to Rebekah's extravagant 40th birthday bash in Italy
· The CEO of $1 billion WeWork rival Knotel says the idea of coworking is 'over'
· Tech IPO injury report: Some of the biggest names in tech have taken a beating after going public this year
· 3 VC investors in flex-space startups slam WeWork's governance and leadership as its valuation crumbles
· WeWork is doing increasing amounts of business with SoftBank, which is also its biggest investor
· The history of WeWork's meteoric valuation rise — and fall
*Financials, business history, and real estate*
· 'We fell short in Q4': WeWork only hit 73% of an internal enterprise growth target in 2019, leaked memo shows
· WeWork paid over $2 million in cash to a woman who threatened to expose claims of sex, illegal drugs, and discrimination in a horrifying 50-page document
· A WeWork exec who was Rebekah Neumann's cousin regularly ran up huge expense reports before other execs ganged up and forced him out
· WeWork just released an investor presentation that offers numbers the company didn't include in its widely-derided IPO documents
· Insiders say WeWork's IT is a patchwork of cheap devices and Band-Aid fixes that will take millions to fix
· WeWork used massive discounts — in some cases, essentially giving away space for 2 years — to try to poach customers from rivals
*Coworking rivals*
· Here's how 8 flex-office execs are battling the WeWork effect: Bigger customers, tamer decor, and partnering more with landlords
· WeWork is the largest 'flex-space' operator in the US — and the real estate sector is slated to only keep its 600% boom going
· Industrious' CEO tells us why the coworking startup is ditching leases and managing property instead. Bigger rival WeWork is eyeing a similar pivot to help erase losses
· Convene's CEO says the $500 million flex-space startup is a hospitality company that partners with real estate, not a tech company. Here's an inside look at the company's financials.
· Seduced by WeWork's sky-high valuation, coworking firms have multiplied. A shakeout could see them merge, shutter, or specialize.
· Salaryo, a startup that loans people money to rent flex office spaces, just nabbed funding. It adds another layer of financing to the world of WeWork and its rivals.
*Road to the failed IPO*
· WeWork might be painting itself as a tech company, but it's facing a bunch of old-school real estate worries
· WeWork lays out its path to profitability – and most of its options involve slowing its breakneck growth
· Here are the 5 biggest questions facing WeWork as it prepares for its IPO
· WeWork is setting up a $2.9 billion fund to buy buildings that it will lease to itself
*Neumann's leadership*
· Meet Rebekah Neumann: Insiders describe the spiritual, strategic mastermind who was the driving force behind WeWork and her husband, Adam Neumann
· Adam Neumann demoted his chief of staff for being pregnant, a new complaint against the ousted CEO and WeWork alleges
· WeWork details CEO Adam Neumann's web of loans, real-estate deals, and family involvement with the company
· Lots of extremely successful founders in Silicon Valley cash out early. But WeWork's CEO pocketing $700 million is still far from normal.
· WeWork's CEO says the way it rents out office space makes companies' financials look better. Some experts aren't sure how legitimate the pitch is.
*SoftBank's role*
· Here's everything we know about how startups raise money from SoftBank's $100 billion Vision Fund
· WeWork's CEO raised $4.4 billion from a Saudi-backed fund, but said going forward he'd consider declining investments on moral grounds
· How WeWork's CEO grew a $10 billion relationship with SoftBank CEO Masayoshi Son, whom he calls 'Yoda'
· It took a day for WeWork's CEO to recover from the shock of a $16 billion SoftBank investment falling apart
· WeWork and Uber are giving SoftBank a black eye, but that doesn't mean Vision Fund II is in trouble, experts say
*Deals*
· Real-estate giant JLL is gaining a key partnership as WeWork unloads its Managed by Q business at a fire-sale price
· WeWork's tech head explains why the office provider is buying a building access app used by top landlords
· Here are all the wild things, from wave pools to turmeric coffee creamer, that WeWork's surfing founder has invested in
· WeWork acquires $249 million office-services startup Managed by Q as it goes after larger business customers
· $20 billion startup WeWork continues its shopping spree with $200 million for Meetup
· WeWork just led a $32 million funding round for a female-run startup that's basically a social club for women
Join the conversation about this story »
NOW WATCH: WeWork went from a $47 billion valuation to a failed IPO. Here's how the company makes money. Reported by Business Insider 19 hours ago.
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EXCLUSIVE: Italian Reporter Says Italy Hasn’t Seen A Crisis Like This Since WWII
'Worst crisis since the Second World War, and it is.'
Reported by Daily Caller 19 hours ago.
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Virus masks, apps: The race is on to avoid hidden carriers
PARIS (AP) — The worldwide race to protect people against being infected by unwitting coronavirus carriers intensified Thursday, pitting governments against each other as they buy protective gear and prompting new questions about who should wear masks, get temperature checks or even be permitted to go outside.
In the Chinese city of Wuhan, where the pandemic began in December, a green symbol on residents' smartphones dictates their movements. Green is the "health code" that says a user is symptom-free. It’s required to board a subway, check into a hotel or enter the central city of 11 million. Serious travel restrictions still exist for those who have yellow or red symbols.
In northern Italy, the country with the most virus deaths in the world at over 13,000, guards with thermometer guns decide who can enter supermarkets. In Los Angeles, the mayor has recommended that the city's 4 million people wear masks. They're mandatory for all Israelis who leave home, as well as customers of grocery stores in Austria and pharmacies in Pakistan.
A top official in France's hard-hit eastern region complained Thursday that American officials swooped in at a Chinese airport to spirit away a planeload of masks that France had ordered.
"On the tarmac, the Americans arrive, take out cash and pay three or four times more for our orders, so we really have to fight," Dr. Jean Rottner, president of the Grand Est regional council and an emergency room physician in Mulhouse, told RTL radio.
A study by researchers in Singapore on Wednesday estimated that around 10% of new infections may be sparked by people who carry the virus but have no symptoms yet or never do.
In Greece, authorities placed an entire refugee camp of 2,400 people under quarantine Thursday after discovering that a third of the 63 contacts of just one infected woman... Reported by SeattlePI.com 18 hours ago.
In the Chinese city of Wuhan, where the pandemic began in December, a green symbol on residents' smartphones dictates their movements. Green is the "health code" that says a user is symptom-free. It’s required to board a subway, check into a hotel or enter the central city of 11 million. Serious travel restrictions still exist for those who have yellow or red symbols.
In northern Italy, the country with the most virus deaths in the world at over 13,000, guards with thermometer guns decide who can enter supermarkets. In Los Angeles, the mayor has recommended that the city's 4 million people wear masks. They're mandatory for all Israelis who leave home, as well as customers of grocery stores in Austria and pharmacies in Pakistan.
A top official in France's hard-hit eastern region complained Thursday that American officials swooped in at a Chinese airport to spirit away a planeload of masks that France had ordered.
"On the tarmac, the Americans arrive, take out cash and pay three or four times more for our orders, so we really have to fight," Dr. Jean Rottner, president of the Grand Est regional council and an emergency room physician in Mulhouse, told RTL radio.
A study by researchers in Singapore on Wednesday estimated that around 10% of new infections may be sparked by people who carry the virus but have no symptoms yet or never do.
In Greece, authorities placed an entire refugee camp of 2,400 people under quarantine Thursday after discovering that a third of the 63 contacts of just one infected woman... Reported by SeattlePI.com 18 hours ago.
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The career rise and fall of Adam Neumann, the controversial WeWork cofounder
· WeWork publicly filed to go public in August, but has since shelved its IPO after investors flagged concerns over its business and cofounder Adam Neumann.· Neumann has been at the helm of the company since it launched in 2010, but he stepped down from his positions as CEO and on the board of directors in late 2019 as part of a buyout deal that will see SoftBank acquiring the company.
· Here's everything you need to know about the former WeWork CEO, who has five children and has purchased an estimated $80 million worth of real estate.
· Read all of BI's WeWork coverage here.
Adam Neumann has run WeWork since it first got its start nearly 10 years ago, but his role with the company has since come to an abrupt end.
The 41-year-old Israeli-born Neumann has come a long way from the shoe-box-sized New York city apartment he first lived in in the early 2000s.
But his co-working company — valued just months ago at $47 billion — has been rocked by criticism and controversy since it filed its IPO paperwork in mid-August and revealed spiraling losses. Since the paperwork was released, WeWork has suffered from a lack of investor interest, and has since announced it's shelving its plans to go public.
In the aftermath, attention turned to Neumann. Scrutiny was placed on his business investments and his complex web of personal connections within WeWork that could pose conflicts of interests. WeWork announced some changes, but it wasn't enough to get the IPO back on track.
In response, Neumann announced in late 2019 he was stepping down as CEO in the company's "best interest," saying he was becoming "a significant distraction" to WeWork's IPO plans. He then left the company's board of directors as part of a buyout deal, of which he was expected to get a $1.7 billion exit package.
However, Neumann may not see all of that sum: SoftBank announced Thursday it would not be going forward with a plan to buy $3 billion worth of WeWork shares, including shares from Neumann worth $970 million.
*Here's everything you need to know about Adam Neumann, the WeWork cofounder and ousted CEO:*
*SEE ALSO: One of the internet's oldest fact-checking organizations is overwhelmed by coronavirus misinformation — and it could have deadly consequences*
-Adam Neumann, 40, was born is Israel in 1979. His parents got divorced when he was 7, and he moved around a lot as a child with his mother — he reportedly lived in 13 different homes by the time he was 22.-
Source: New York Magazine-As a child, Neumann lived for some time on an Israeli kibbutz, one of the collective community settlement across the country. Neumann attended school near the Gaza Strip while his mother worked as a doctor at a nearby hospital.-
Source: Haaretz-Neumann is severely dyslexic, and couldn't read or write until he was in third grade.-
Source: Forbes-As is customary for Israeli citizens, Neumann served in the Israel Defense Forces after grade school. He served in the navy for five years, although only three years of service is required. "That’s where I got to know a lot of my best friends," Neumann told Haaretz in 2017.-
Source: Haaretz-After leaving the IDF, Neumann moved in 2001 to New York City, where he lived in a Tribeca apartment with his sister Adi. He spent his early days in New York going to clubs and “hitting on every girl in the city,” he said in a commencement speech in 2017.-
Source: New York Magazine-Neumann enrolled at city school Baruch College in January 2002 and majored in business. He said he thought of the concept of WeLive, WeWork's communal living business, for a school entrepreneurship competition. However, the idea was killed in the competition's second round, because a professor didn't think Neumann would be able to raise enough money "to change the way people live."-
Sources: New York Magazine, TechCrunch-Neumann dropped out from college just four credits shy of graduating. He ultimately finished his degree 15 years later in 2017 after completing a four-month long independent study, and delivered the commencement speech for Baruch College's graduating class.-
Sources: TechCrunch, Business Insider-While in college, Neumann met his now-wife, Rebekah Paltrow Neumann, who is the cousin of actress Gwyneth Paltrow. The pair got married in 2009, and now have five children together.-
Source: Observer, Real Deal-On their first date, Paltrow Neumann called out the WeWork cofounder for being "full of s---." Neumann credits his wife for getting him to stop smoking, and for telling him to pursue his passions instead of dreams to be rich.-
Sources: Business Insider, Business Insider-Paltrow Neumann became the founder and CEO of WeGrow, the business under the WeWork company umbrella that operates an elementary school in New York. She was a WeWork founding partner, when she learned there's "no job too big or too small for each person."-
Sources: Coveteur, WeGrow
*Read more: *WeWork is just one of the businesses owned by the $47 billion company that just filed for its IPO — check out the full list-While Neumann was at college, he worked on two business ventures: a failed idea for collapsible heeled shoe, and baby clothes with built-in knee-pads called Krawlers. He dropped out to pursue the second idea, and developed it into a baby-clothing company called Egg Baby in 2006.-
Sources: Forbes, TechCrunch-Egg Baby is still around today as a luxury baby clothing company headed up by clothes designer Suzan Lazar. Neumann is no longer involved in the day-to-day operations of Egg Baby, whose children's clothing is sold at department stores around the world.-
Sources: Forbes, TechCrunch-Soon after launching Egg Baby, Neumann met WeWork cofounder Miguel McKelvey through a mutual friend. The two reportedly bonded over their backgrounds and competitive streaks, and McKelvey convinced Neumann to move Egg Baby offices to the same building he was working out of in Brooklyn.-
Source: Forbes, New York Magazine-Soon after, the two developed the idea for WeWork after brainstorming an idea for renting out empty office space to other companies. In 2008, they convinced their building's landlord to let them rent out a floor in a nearby Brooklyn building, and an earth-friendly co-working company called Green Desk was born.-
Sources: Forbes, New York Magazine-However, McKelvey and Neumann decided to go off on their own. They sold off their share of Green Desk to their landlord for $3 million, and opened their first WeWork space in 2010 in New York's Little Italy neighborhood.-
Sources: Forbes, New York Magazine-Under Neumann as CEO, WeWork has expanded to provide co-working desk space in commercial buildings in more than 120 cities in nearly 40 countries. The company was last valued at $47 billion.-
Sources: Business Insider, Forbes-One of WeWork's biggest investors is the Japanese investment firm SoftBank, who has invested more than $10 billion in the company. Neumann has told Business Insider about his close relationship with SoftBank CEO Masayoshi Son, who he calls "Yoda."-
Source: Business Insider-Neumann himself was worth an estimated $4 billion at his peak. Since founding WeWork, Neumann has spent over $80 million on five homes, including two properties in New York City and one home in the Hamptons. In 2018, he reportedly purchased a 13,000-square-foot home in the San Francisco area, complete with a guitar-shaped room, worth $21 million.-
Sources: Wall Street Journal, Business Insider-Neumann has also invested in a number of startups, both by himself and on behalf of WeWork. His niche-interest investments include a wave-pool maker, a medical marijuana provider. and a superfood startup, which sells things like "performance mushrooms," powdered coconut water infused with beets and turmeric, and highly caffeinated coffee.-
Source: Business Insider-Neumann is WeWork's largest single shareholder. However, in recent years, he's cashed out some of his stake and also taken out loans. In total, Neumann's sales and debt transactions have reportedly totaled $700 million.-
Source: Business Insider-The company publicly filed for an IPO on August 14, 2019. The IPO filing gave the public its best view yet at the company's money-losing financials: notably, $1.6 billion in losses on $1.8 billion in revenue in 2018.-
Business Insider's Troy Wolverton and Shona Ghosh wrote in their coverage of WeWork's S-1 that:
"The numbers show spiraling losses over the last three years:
· During the year December 31, 2016, WeWork lost $429 million on $436 million in revenue.
· The following year that loss increased to $890 million on $886 million in revenue.
· And for the full year 2018, WeWork lost $1.6 billion on $1.8 billion in revenue.
· For the first six months of 2019, the firm posted a loss of $690 million on $1.5 billion in revenue.
We Co. will be the most highly valued startup to go public since Uber in May."
--------------------
· Read more of Business Insider's WeWork coverage:
· The history of WeWork — from its first office in a SoHo building to pushing out CEO and cofounder Adam Neumann
· WeWork's founder and CEO didn't take a salary last year as the company prepared for its massive IPO
· WeWork is going public with an extremely weird, complicated structure
· WeWork is just one of the businesses owned by the $47 billion company that just filed for its IPO — check out the full list
· ---------------------However, along with WeWork's IPO paperwork came further scrutiny of its business. The filings showed that WeWork paid Neumann just shy of $6 million for the trademark rights to the word "we," for the company's name change to the We Company in January 2019. After widespread criticism, Neumann paid the money back.-
Source: Business Insider-The IPO paperwork also revealed a number of Neumann's potential conflicts of interest regarding WeWork. Neumann was revealed to have personal financial ties to WeWork buildings, and his wife Rebekah was listed as one of three people who would decide the next CEO if Neumann could no longer run the company. WeWork has since limited her power by removing her ability to help choose the next CEO, and also banned her and any of Neumann's family members from serving on the board.-
Source: Business Insider-Shortly after the IPO was filed, a report revealed that WeWork had been bleeding human resources managers, and some pointed fingers at Neumann himself as the reason. Neumann reportedly criticized some employees as "B players" behind their backs.-
Source: Business Insider-The IPO paperwork also showed that Neumann had special shares in WeWork that gave him a massive 20 votes per share, as well as majority control over the company. However, his power was limited in WeWork's amended IPO filing in September 2019, in which the company slashed its valuation from $47 billion to below $20 billion.-
Sources: Business Insider, Business Insider-In September 2019, a Wall Street Journal report detailed Neumann's hard-partying ways, and drug and alcohol use. Two of the most startling revelations in the piece: Once after announcing layoffs, Neumann sent around tequila shots and organized a surprise Run-DMC concert. Also, his private jet was once recalled in Israel after marijuana was found hidden in an onboard cereal box.-
Source: Wall Street Journal-Amidst the criticism, Neumann's leadership of WeWork was thrown into question. WeWork's board of directors met in September 2019 to discuss the possibility of removing Neumann as CEO — something reportedly backed by one of Neumann's best assets, SoftBank head Masayoshi Son.-
Source: Business Insider-But on September 24, Neumann said he would be stepping down from his role as WeWork CEO. Neumann said in a statement that he had become a "significant distraction" in recent weeks, and it was in the company's "best interest" to resign. Two WeWork executives — Sebastian Gunningham and Artie Minson — took his place as co-CEOs. The company then withdrew its S-1 filing, officially postponing its IPO.-
Source: Business Insider-Neumann has since put at least two of his properties up for sale. Both his three-floor New York City penthouse and Hamptons house have been put on the market.-
Source: Business Insider, Mansion Global-Neumann momentarily kept his role as chairman of WeWork's board of directors, but he stepped down from the board in October 2019. SoftBank, WeWork's largest investor, was given control of the company as part of a $9.5 billion bailout plan. As part of the buyout deal, SoftBank planned to provide Neumann with a $1.7 billion exit package.-
Source: Wall Street Journal, Business Insider-However, SoftBank announced in April iit would not be going through with a big part of its WeWork bailout package. SoftBank had planned to purchase $3 billion worth of shares from investors and employees — including shares from Neumann worth $970 million — but backed out, citing "multiple, new, and significant" civil and criminal investigations into WeWork.-
Source: Business Insider Reported by Business Insider 17 hours ago.
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Damage to miraculous crucifix during pope's blessing 'not serious'
Rome, Italy, Apr 2, 2020 / 10:48 am (CNA).- The 16th-century crucifix which was present in St. Peter’s Square for Pope Francis’ Urbi et Orbi blessing last week was reportedly damaged by rain, but the priest in charge of the church where the cross traditionally hangs said it has not been seriously harmed.
Fr. Enrico Maria Casini, who is in charge of San Marcello al Corso in Rome, told CNA April 2 the damage to the miraculous crucifix from rain “is not serious,” from what he understands, and is expected to be returned to the church for Easter.
According to a Vatican source, the crucifix was not as badly damaged as some initially suggested and will be on public display again during the pope’s Palm Sunday Mass in St. Peter’s Basilica April 5, as well as during the pope’s other Holy Week liturgies.
The wooden crucifix was moved from San Marcello al Corso to the Vatican March 25. Pope Francis prayed before the crucifix during his extraordinary Urbi et Orbi blessing in St. Peter’s Square March 27 for an end to the coronavirus pandemic.
During the holy hour and blessing, which was broadcast live, rain could be seen running down Christ's body on the crucifix.
One Italian report characterized damage to the crucifix as including swollen wood, peeling paint, and eroding plasters.
The crucifix was venerated as miraculous by Romans after it was the only religious image to survive unscathed from a fire that completely gutted San Marcello al Corso May 23, 1519.
Fewer than three years later, Rome was devastated by the “black plague.”
Upon the request of Rome’s Catholics, the crucifix was taken in procession from the convent of the Servants of Mary in Via del Corso to St. Peter’s Square, stopping in each quarter of Rome.
The procession continued 16 days, August 4-20, 1522. When the crucifix was returned to San Marcello, the plague had disappeared from Rome.
The crucifix has since processed to St. Peter’s Square every Roman Holy Year – around every 50 years – and the crucifix has engraved on its back the names of each pope to have witnessed those processions. The last name engraved is that of St. John Paul II, who embraced the crucifix during the “Day of Forgiveness” during the Jubilee Year 2000. Reported by CNA 17 hours ago.
Fr. Enrico Maria Casini, who is in charge of San Marcello al Corso in Rome, told CNA April 2 the damage to the miraculous crucifix from rain “is not serious,” from what he understands, and is expected to be returned to the church for Easter.
According to a Vatican source, the crucifix was not as badly damaged as some initially suggested and will be on public display again during the pope’s Palm Sunday Mass in St. Peter’s Basilica April 5, as well as during the pope’s other Holy Week liturgies.
The wooden crucifix was moved from San Marcello al Corso to the Vatican March 25. Pope Francis prayed before the crucifix during his extraordinary Urbi et Orbi blessing in St. Peter’s Square March 27 for an end to the coronavirus pandemic.
During the holy hour and blessing, which was broadcast live, rain could be seen running down Christ's body on the crucifix.
One Italian report characterized damage to the crucifix as including swollen wood, peeling paint, and eroding plasters.
The crucifix was venerated as miraculous by Romans after it was the only religious image to survive unscathed from a fire that completely gutted San Marcello al Corso May 23, 1519.
Fewer than three years later, Rome was devastated by the “black plague.”
Upon the request of Rome’s Catholics, the crucifix was taken in procession from the convent of the Servants of Mary in Via del Corso to St. Peter’s Square, stopping in each quarter of Rome.
The procession continued 16 days, August 4-20, 1522. When the crucifix was returned to San Marcello, the plague had disappeared from Rome.
The crucifix has since processed to St. Peter’s Square every Roman Holy Year – around every 50 years – and the crucifix has engraved on its back the names of each pope to have witnessed those processions. The last name engraved is that of St. John Paul II, who embraced the crucifix during the “Day of Forgiveness” during the Jubilee Year 2000. Reported by CNA 17 hours ago.
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Italy reports 760 more deaths from virus
Reported by Chicago S-T 17 hours ago.
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Italy Appears to be Flattening the Curve. What Did the Country Do Right?
Reported by TIME 3 hours ago.
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Cardinal urges that amid coronavirus the poor be released from 'tomb' of loans, debt
Rome, Italy, Apr 2, 2020 / 12:45 pm (CNA).- The coronavirus crisis is an opportunity for the wealthy, and wealthy countries, to forgive the debt of poor persons and countries, the Prefect of the Congregation for the Evangelization of Peoples preached Sunday.
“Where are the tombs of society right now? Where are we lifeless?” Cardinal Luis Tagle asked during his homily in a Mass said March 29 at the Pontificio Collegio Filippino in Rome, reflecting on Christ's raizing of Lazarus to life.
“Where do we smell, where is our stench?” he continued. “There are many people who are losing their jobs, especially the daily wage earners. And that lack of resources and the poverty could be one tomb right now of many poor people. Could those who can afford it, go to those tombs and release the poor people who owe them money? Release them from their loans, release them from their debts.”
“And we even appeal to rich countries, at this moment, can you forgive the debts of the poor countries, so that they could use their dwindling resources to support their communities, rather than to pay the interest that you impose on poor countries? Could the coronavirus 19 crisis lead to a jubilee, forgiveness of debt, so that those who are in the tombs of indebtedness could find life? Untie them, release them,” he exhorted.
Cardinal Tagle said that the day's Mass points to that fact that Christ “will triumph over death.”
“Let me reflect on this part of the Gospel: this illness is not to end in death, but is for the glory of God. Jesus said this when he had been told of the sickness of Lazarus … Can we say the same thing now? Can we with Jesus say, this coronavirus pandemic is not to end in death, but is for the glory of God? Even when we see the rising number of dead people. And we are in solidarity with those who are grieving, grieving. But Jesus is inviting us to faith.”
He recalled the resurrection of the dead, prophesied by Ezekiel, and asked, “how do we find life in the midst of signs of death?”
“Who will open our eyes to see signs of life when there are so many signs of death? It is God, Jesus, but we need faith. I thnk one good thing about this Covid-19 virus – I say again with all sympathy to those who are grieving – but with the eys of faith we see also life. Many of us think that if we pay the highest premium of insurance? No. your insurance cannot ensure everlasting life.”
“This virus is making us aware that all our successes and inventions, good as they are in themselves, they do not guarantee life. So people are now turning to faith, to God,” the cardinal reflected.
Cardinal Tagle noted that Christ went to Lazarus' family “to express solidarity, sympathy, but beyond that, Jesus went to the tomb of Lazarus. And in the creed, we say he went the place of the dead. This going to the tomb of Lazarus is a prefiguration of his own entry to the place of the dead. We even say he descended into hell, the place of the dead, in order to restore life, commnion with God; the place of isolation becomes a place of communion.”
Martha, he recalled, was embarrased to let Christ go to Lazarus' tomb, saying there would be a stench.
“But Jesus can stand our stench. Jesus says I can handle that; where is he buried? Don't worry. And he goes to the tomb and calls him out back to life.”
“My brothers and sisters, what are your tombs?” Cardinal Tagle asked. “Where do we stench? Where do we smell?”
After discussing debt forgiveness, the cardinal likened spending on armaments to a tomb: “Many countries spend so much country for arms, for weapons, for their national security, can we stop wars please? Could we stop producing weapons please? Could we get out of that tomb and spend the money for real security?
“Now we we realize we don't have enough masks, when there are more than enough bullets. We don't have enough supplies of ventilators, but we have millions of pesos, dollars, euros, spent on one plane that could attack people. Could we have this permanent ceasefire, and in the name of the poor, let us release money for real security, education, housing, food?”
Cardinal Tagle exhorted: “Those of us who have been living more than four days in the tombs of anger, jealousy, lack of forgiveness, por favor, get out of that. And start talking, untie your mouth, but not for gossip, but for a word of love, a word of forgiveness. Time is short. We don't know how long life will last. So get out of that tomb, meet your friends, meet people and utter words of forgiveness, understanding. Untie your heart, let it beat again. Let the heart of stone now be a heart of flesh, let it live.”
“And like Jesus, weep, because we love. And if we with Jesus visit our tombs and the tombs of other people, bringing life because of faith, we hope his tears would become tears of rejoicing. And Lazarus will sing again. It is true. This illness is for the glory of God. For today, please share with your families and your loved ones, your tombs, and see how Jesus is leading you out of the tomb, leading us to life.” Reported by CNA 14 hours ago.
“Where are the tombs of society right now? Where are we lifeless?” Cardinal Luis Tagle asked during his homily in a Mass said March 29 at the Pontificio Collegio Filippino in Rome, reflecting on Christ's raizing of Lazarus to life.
“Where do we smell, where is our stench?” he continued. “There are many people who are losing their jobs, especially the daily wage earners. And that lack of resources and the poverty could be one tomb right now of many poor people. Could those who can afford it, go to those tombs and release the poor people who owe them money? Release them from their loans, release them from their debts.”
“And we even appeal to rich countries, at this moment, can you forgive the debts of the poor countries, so that they could use their dwindling resources to support their communities, rather than to pay the interest that you impose on poor countries? Could the coronavirus 19 crisis lead to a jubilee, forgiveness of debt, so that those who are in the tombs of indebtedness could find life? Untie them, release them,” he exhorted.
Cardinal Tagle said that the day's Mass points to that fact that Christ “will triumph over death.”
“Let me reflect on this part of the Gospel: this illness is not to end in death, but is for the glory of God. Jesus said this when he had been told of the sickness of Lazarus … Can we say the same thing now? Can we with Jesus say, this coronavirus pandemic is not to end in death, but is for the glory of God? Even when we see the rising number of dead people. And we are in solidarity with those who are grieving, grieving. But Jesus is inviting us to faith.”
He recalled the resurrection of the dead, prophesied by Ezekiel, and asked, “how do we find life in the midst of signs of death?”
“Who will open our eyes to see signs of life when there are so many signs of death? It is God, Jesus, but we need faith. I thnk one good thing about this Covid-19 virus – I say again with all sympathy to those who are grieving – but with the eys of faith we see also life. Many of us think that if we pay the highest premium of insurance? No. your insurance cannot ensure everlasting life.”
“This virus is making us aware that all our successes and inventions, good as they are in themselves, they do not guarantee life. So people are now turning to faith, to God,” the cardinal reflected.
Cardinal Tagle noted that Christ went to Lazarus' family “to express solidarity, sympathy, but beyond that, Jesus went to the tomb of Lazarus. And in the creed, we say he went the place of the dead. This going to the tomb of Lazarus is a prefiguration of his own entry to the place of the dead. We even say he descended into hell, the place of the dead, in order to restore life, commnion with God; the place of isolation becomes a place of communion.”
Martha, he recalled, was embarrased to let Christ go to Lazarus' tomb, saying there would be a stench.
“But Jesus can stand our stench. Jesus says I can handle that; where is he buried? Don't worry. And he goes to the tomb and calls him out back to life.”
“My brothers and sisters, what are your tombs?” Cardinal Tagle asked. “Where do we stench? Where do we smell?”
After discussing debt forgiveness, the cardinal likened spending on armaments to a tomb: “Many countries spend so much country for arms, for weapons, for their national security, can we stop wars please? Could we stop producing weapons please? Could we get out of that tomb and spend the money for real security?
“Now we we realize we don't have enough masks, when there are more than enough bullets. We don't have enough supplies of ventilators, but we have millions of pesos, dollars, euros, spent on one plane that could attack people. Could we have this permanent ceasefire, and in the name of the poor, let us release money for real security, education, housing, food?”
Cardinal Tagle exhorted: “Those of us who have been living more than four days in the tombs of anger, jealousy, lack of forgiveness, por favor, get out of that. And start talking, untie your mouth, but not for gossip, but for a word of love, a word of forgiveness. Time is short. We don't know how long life will last. So get out of that tomb, meet your friends, meet people and utter words of forgiveness, understanding. Untie your heart, let it beat again. Let the heart of stone now be a heart of flesh, let it live.”
“And like Jesus, weep, because we love. And if we with Jesus visit our tombs and the tombs of other people, bringing life because of faith, we hope his tears would become tears of rejoicing. And Lazarus will sing again. It is true. This illness is for the glory of God. For today, please share with your families and your loved ones, your tombs, and see how Jesus is leading you out of the tomb, leading us to life.” Reported by CNA 14 hours ago.
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Coronavirus: Deserted places in America, Italy, China and more
From hallowed U.S. colleges to Parisian museums to Italian landmarks, the coronavirus is clearing out the world's most beloved public spaces.
Reported by CBS News 14 hours ago.
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Chinese government rejects allegations that its face masks were defective, tells countries to 'double check' instructions
· The Chinese government is rebuffing the notion that its face masks exported to other countries were "defective" and suggested that the nations did not "double-check" the instructions.· China's Ministry of Foreign Affairs on Thursday claimed in a tweet that the "true story" behind the alleged faulty face masks imported by the Netherlands was that the Chinese manufacturer explicitly "stated clearly that they are non-surgical."
· Representatives from the Chinese government in recent weeks shifted the narrative surrounding the coronavirus's origins by questioning its validity.
· Visit Business Insider's homepage for more stories.
The Chinese government is rebuffing the notion that its face masks exported to other countries were "defective" and suggested that the nations did not "double-check" the instructions.
China's Ministry of Foreign Affairs on Thursday claimed in a tweet that the "true story" behind the alleged faulty face masks sent to the Netherlands was that the Chinese manufacturer explicitly "stated clearly that they are non-surgical."
"Masks of various category offer different levels of protection, for day-to-day use and for medical purposes," the Ministry of Foreign Affairs said in the tweet. "[Please] double-check the instructions to make sure that you ordered, paid for and distributed the right ones. Do not use non-surgical masks for surgical purposes."
The statement comes as the Dutch government recalled 600,000 of the Chinese-manufactured face masks for being defective and not meeting safety standards — over half of the 1.3 million total N-95 protective masks that were delivered to the Netherlands.
Hospitals in the country were requested to return the masks that did not properly fit on faces and prevent COVID-19 virus particles from making human contact. The N-95 mask is able to block out 95% of airborne particles when used properly.
"When they were delivered to our hospital, I immediately rejected those masks," one hospital employee reportedly said to Dutch broadcaster NOS. "If those masks do not close properly, the virus particles can simply pass. We do not use them."
Other countries have expressed concern with medical equipment manufactured in China. After purchasing 340,000 test kits from a Chinese manufacturer, Spain's government claimed that 60,000 of them did not accurately test for COVID-19.
European Union Minister for Foreign Affairs Josep Borrell said in a blog post that the Chinese government was attempting to be perceived as an international ally in the "global battle of narratives."
"China is aggressively pushing the message that, unlike the US, it is a responsible and reliable partner," Borrell wrote. "In the battle of narratives, we have also seen attempts to discredit the EU as such and some instances where Europeans have been stigmatized as if all were carriers of the virus."
Representatives from the Communist Party of China (CCP) in recent weeks have shifted the narrative surrounding the coronavirus's origins by questioning its validity. Despite health officials and scientists widely agreeing that COVID-19 originated in Wuhan, China — likely from a wildlife market — government officials suggested that the US Army may have shipped the virus to China.
The Global Times, which operates under the Chinese government's purview, also claimed in a tweet that Italy "may have had an unexplained strain of pneumonia" in November and December — around the same time as China reported its first positive case.
Join the conversation about this story » Reported by Business Insider 14 hours ago.
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Global coronavirus cases top one million: Johns Hopkins tally
Global coronavirus cases topped 1 million on Thursday as the pandemic explodes in the United States and the death toll continues to climb in Italy and Spain, according to a tally by Johns Hopkins University.
Reported by Reuters 5 hours ago.
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Italian bishops offer Mass for coronavirus victims, including 87 priests
Rome, Italy, Apr 2, 2020 / 02:00 pm (CNA).- Bishops throughout Italy visited cemeteries last week to pray and offer Mass for the souls of those who died after contracting the coronavirus. Among the 13,915 coronavirus deaths in Italy, at least 87 have been priests.
“Hear Lord the pain that rises from this land that we still believe blessed … We believe that in the death on the cross of your Son Jesus and in his burial, every cross, every death, every burial is redeemed from abandonment, from darkness, from nothing,” Bishop Francesco Beschi said March 27 in a cemetery in Bergamo, a hard-hit northern Italian city where 553 people died in March.
In Beschi’s diocese of Bergamo alone, 25 diocesan priests have died after contracting COVID-19.
“This week I went to the cemetery with the desire to become a voice of prayer and pain that has no chance to express themselves and remains enclosed not only in our homes, but above all in our hearts. In some ways … it is as if our cities had become a large cemetery. Nobody is seen anymore. Disappeared. We can see each other through the media and social media, fortunately, but the city is deserted,” Beschi said in his homily via livestream March 29.
Italy has entered its fourth week of a national mandatory lockdown. On April 1, the Prime Minister Giuseppe Conte announced that the country’s quarantine deadline has been extended to April 13, but noted that the lockdown will not end until “the curve subsides.”
There have been more than 115,000 documented cases of coronavirus in Italy and 13,915 mortalities as of April 2 according to the Italian Ministry of Health.
Avvenire, the newspaper owned by the Italian bishops conference, reported a total of 87 priest mortalities as of March 31. However, this number could be higher; some religious orders, such as the Xaverian Missionary Fathers in Parma, did not test the 16 elderly priests who died in their residence last month.
Three quarters of the diocesan priests reported dead were over the age of 75. The youngest priest to die was 45-year-old Fr. Alessandro Brignone of Salerno. The Southern Italian priest had participated in a Neocatechumenal Way retreat in early March after which many participants tested positive for COVID-19.
The Diocese of Milan reported two new deaths attributed to coronavirus last weekend: Fr. Cesare Terraneo, 75, and Fr. Pino Marelli, 80, bringing the diocesan death toll for priests to 10.
The Diocese of Bolzano, on Italy’s border with Austria, has lost four priests to COVID-19, most recently Fr. Heinrich Kamelger, 85, Fr. Anton Matzneller, 83, and Fr. Reinhard Ebner, 71, who had served as a missionary in Brazil.
New deaths were also reported in the Italian dioceses of Vercelli, Turin, La Spezia-Sarzana-Brugnato, Nuoro, Reggio Emilia-Guastalla, Udine, and Cremona.
The Bishop of Cremona, Antonio Napolioni, was hospitalized for pneumonia caused by COVID-19 for ten days but was released on March 17.
After returning home to continue recovering, the bishop spoke with Pope Francis over the phone, and said he made a joke with the pope about the consequences of being “shepherds who smell of their sheep,” according to Vatican News.
Cardinal Angelo De Donatis, vicar general of the Diocese of Rome, tested positive for coronavirus on March 30, and the Diocese of Ouagadougou in Burkina Faso reported that Cardinal Philippe Ouédraogo had a confirmed case of COVID-19 on March 31.
Other bishops in Italy, France, Burkina Faso, China, and the United States have also tested positive for COVID-19, and Bishop Angelo Moreschi, 67, died in the Italian city of Brescia on March 25 after contracting the coronavirus. Reported by CNA 13 hours ago.
“Hear Lord the pain that rises from this land that we still believe blessed … We believe that in the death on the cross of your Son Jesus and in his burial, every cross, every death, every burial is redeemed from abandonment, from darkness, from nothing,” Bishop Francesco Beschi said March 27 in a cemetery in Bergamo, a hard-hit northern Italian city where 553 people died in March.
In Beschi’s diocese of Bergamo alone, 25 diocesan priests have died after contracting COVID-19.
“This week I went to the cemetery with the desire to become a voice of prayer and pain that has no chance to express themselves and remains enclosed not only in our homes, but above all in our hearts. In some ways … it is as if our cities had become a large cemetery. Nobody is seen anymore. Disappeared. We can see each other through the media and social media, fortunately, but the city is deserted,” Beschi said in his homily via livestream March 29.
Italy has entered its fourth week of a national mandatory lockdown. On April 1, the Prime Minister Giuseppe Conte announced that the country’s quarantine deadline has been extended to April 13, but noted that the lockdown will not end until “the curve subsides.”
There have been more than 115,000 documented cases of coronavirus in Italy and 13,915 mortalities as of April 2 according to the Italian Ministry of Health.
Avvenire, the newspaper owned by the Italian bishops conference, reported a total of 87 priest mortalities as of March 31. However, this number could be higher; some religious orders, such as the Xaverian Missionary Fathers in Parma, did not test the 16 elderly priests who died in their residence last month.
Three quarters of the diocesan priests reported dead were over the age of 75. The youngest priest to die was 45-year-old Fr. Alessandro Brignone of Salerno. The Southern Italian priest had participated in a Neocatechumenal Way retreat in early March after which many participants tested positive for COVID-19.
The Diocese of Milan reported two new deaths attributed to coronavirus last weekend: Fr. Cesare Terraneo, 75, and Fr. Pino Marelli, 80, bringing the diocesan death toll for priests to 10.
The Diocese of Bolzano, on Italy’s border with Austria, has lost four priests to COVID-19, most recently Fr. Heinrich Kamelger, 85, Fr. Anton Matzneller, 83, and Fr. Reinhard Ebner, 71, who had served as a missionary in Brazil.
New deaths were also reported in the Italian dioceses of Vercelli, Turin, La Spezia-Sarzana-Brugnato, Nuoro, Reggio Emilia-Guastalla, Udine, and Cremona.
The Bishop of Cremona, Antonio Napolioni, was hospitalized for pneumonia caused by COVID-19 for ten days but was released on March 17.
After returning home to continue recovering, the bishop spoke with Pope Francis over the phone, and said he made a joke with the pope about the consequences of being “shepherds who smell of their sheep,” according to Vatican News.
Cardinal Angelo De Donatis, vicar general of the Diocese of Rome, tested positive for coronavirus on March 30, and the Diocese of Ouagadougou in Burkina Faso reported that Cardinal Philippe Ouédraogo had a confirmed case of COVID-19 on March 31.
Other bishops in Italy, France, Burkina Faso, China, and the United States have also tested positive for COVID-19, and Bishop Angelo Moreschi, 67, died in the Italian city of Brescia on March 25 after contracting the coronavirus. Reported by CNA 13 hours ago.
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Roby Facchinetti on Why His Italian Coronavirus Anthem Struck a Chord: ‘Music Can Give Us So Much’
Roby Facchinetti is the singer and co-author of "Rinascerò, Rinascerai" (literally, "I will be reborn, you will be reborn"), which became a YouTube sensation within hours of its release on Friday. The song and its accompanying video are a tribute to Facchinetti’s beautiful hometown in Northern Italy, Bergamo, which is one of the country’s --…
Reported by Billboard.com 11 hours ago.
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The CEO of hot Silicon Valley startup Notion tells us how he just raised $50 million at a $2 billion valuation in the middle of the pandemic
· Hot Silicon Valley startup Notion shocked the tech world yesterday when it announced it had raised $50 million at a $2 billion valuation on Wednesday, in the middle of the pandemic that is causing mass layoffs at other companies.
· Notion CEO tells Business Insider that he didn't need the money. Notion is profitable, he says, and the remote work mandates have improved his business.
· But he and is cofounder decided that a healthy headline-making investment would help him reassure his growing customer base that Notion was stable and would remain so for years, no matter the economy.
· He called up a VC that had been hoping to buy a stake, Index Ventures Sarah Cannon, and had won his good graces by helping him with things like recruiting.
· Two days and a handful of Zoom meetings later, he had term sheet in hand that was everything he hoped for and nothing he didn't.
· Visit Business Insider's homepage for more stories.
As the coronavirus pandemic has forced the world to work from home, Silicon Valley startup Notion swung into action.
Under the direction of its young, twenty-something CEO Ivan Zhao, Notion quickly added a bunch of new features for remote workers, like the ability to see notes typed in realtime and improved notifications, and saw its usage in China triple, and grow by 50% in Italy and South Korea, Zhao told Business Insider.
Notion is profitable, he said, so the rise in usage meant the business was doing more than ok, and he didn't need to raise money to sustain the growth.
And yet, Zhao and his founder Akshay Kothari, COO, also made a decision that shocked the close-knit San Francisco startup world. They decided to do another round of fund raising right now, in the middle of the pandemic.
So they called up a VC who has been pursuing them for a good year, Sarah Cannon at Index Ventures, and in two days they got the term sheet: $50 million at a $2 billion valuation. The deal was conducted via Zoom meetings with partners, which included a pitch about their goals, and the usual due diligence on the business.
The term sheet was everything Zhao and Kothari wanted and nothing it didn't. Notion sold off only 2% of the company.
"The dilution was very minimal. We didn't give up any control," he said, and the raise didn't alter its ability to provide shares to employees, even as it increases hiring.
"We don't need the $50 million. We're still profitable," he said. While his business is growing, even if the uncertain economy tanked it Notion would be fine, he said. "Even if we lost half our business we'd be alright."
He said the funding was strictly about perception. "Right now so many companies are doing layoffs. Our customers want a company that is stable that will stick around for a long time."
The investment gives nervous customers the reassurance that if they depend on Notion, it's got the resources right now, in the bank, to last a decade, Zhao said.
By Silicon Valley standards, Notion has hardly accepted any venture investment. It took a small seed round at around $2 million when it launched in 2016 and then, not another penny until it raised $10 million in mid 2019 from three angel investors at an $800 million valuation. Its investors in that round were Daniel Gross (former partner at Y Combinator), Lachy Groom (Head of Stripe Issuing), and Elad Gil (cofounder of Color Genomics, formerly of Twitter and a very active angel investor).
That's a 150% leap in valuation in about 8 months.
VCs have been pounding on Notion's doors for years, trying to buy a stake of the startup which makes an online software suite that combines documents, collaboration, task management, database and allows anyone to customize without programming skills.
That's because Notion's founders decided early on to get and stay profitable.
In its early history, after Notion was founded in 2016, the startup stumbled with a poorly built product and had to lay off all its staff. That experience stuck with Zhao.
His philosophy: It's better to be stay small and nimble so he can react quickly to changing conditions than to try to predict the future. For example, it took his team about a week to roll out a bunch of remote work features last month.
"We can be more in sync, move quicker. That's a better effect in a macro-uncertainty climate," he says.
His focus on being nimble and profitable is the secret to how he raised $50 million in this climate. As to why he chose Index's Cannon: she's been wooing Notion by making herself useful, such as helping him hire, he said.
Zhao is now focused on hiring, especially in sales, and to build a 'go-t0-market team," he says. The company employs about 30 people now and has a couple of dozen jobs open. Remembering how painful it was to layoff his staff years ago, he's especially open to recommendations from other startup founders trying to find jobs for great people they have to let go.
· Now read:
· Using blue shop towels in homemade face masks can filter particles 2x to 3x better than cotton, three clothing designers discover after testing dozens of fabrics
· 'It's like survivor's guilt', says a CEO of a remote-work software startup that is thriving thanks to COVID-19
· 6 tips to make anyone more successful at remote work, from a reporter who's been doing it for 20 years
Join the conversation about this story »
NOW WATCH: 9 items to avoid buying at Costco Reported by Business Insider 10 hours ago.
· Notion CEO tells Business Insider that he didn't need the money. Notion is profitable, he says, and the remote work mandates have improved his business.
· But he and is cofounder decided that a healthy headline-making investment would help him reassure his growing customer base that Notion was stable and would remain so for years, no matter the economy.
· He called up a VC that had been hoping to buy a stake, Index Ventures Sarah Cannon, and had won his good graces by helping him with things like recruiting.
· Two days and a handful of Zoom meetings later, he had term sheet in hand that was everything he hoped for and nothing he didn't.
· Visit Business Insider's homepage for more stories.
As the coronavirus pandemic has forced the world to work from home, Silicon Valley startup Notion swung into action.
Under the direction of its young, twenty-something CEO Ivan Zhao, Notion quickly added a bunch of new features for remote workers, like the ability to see notes typed in realtime and improved notifications, and saw its usage in China triple, and grow by 50% in Italy and South Korea, Zhao told Business Insider.
Notion is profitable, he said, so the rise in usage meant the business was doing more than ok, and he didn't need to raise money to sustain the growth.
And yet, Zhao and his founder Akshay Kothari, COO, also made a decision that shocked the close-knit San Francisco startup world. They decided to do another round of fund raising right now, in the middle of the pandemic.
So they called up a VC who has been pursuing them for a good year, Sarah Cannon at Index Ventures, and in two days they got the term sheet: $50 million at a $2 billion valuation. The deal was conducted via Zoom meetings with partners, which included a pitch about their goals, and the usual due diligence on the business.
The term sheet was everything Zhao and Kothari wanted and nothing it didn't. Notion sold off only 2% of the company.
"The dilution was very minimal. We didn't give up any control," he said, and the raise didn't alter its ability to provide shares to employees, even as it increases hiring.
"We don't need the $50 million. We're still profitable," he said. While his business is growing, even if the uncertain economy tanked it Notion would be fine, he said. "Even if we lost half our business we'd be alright."
He said the funding was strictly about perception. "Right now so many companies are doing layoffs. Our customers want a company that is stable that will stick around for a long time."
The investment gives nervous customers the reassurance that if they depend on Notion, it's got the resources right now, in the bank, to last a decade, Zhao said.
By Silicon Valley standards, Notion has hardly accepted any venture investment. It took a small seed round at around $2 million when it launched in 2016 and then, not another penny until it raised $10 million in mid 2019 from three angel investors at an $800 million valuation. Its investors in that round were Daniel Gross (former partner at Y Combinator), Lachy Groom (Head of Stripe Issuing), and Elad Gil (cofounder of Color Genomics, formerly of Twitter and a very active angel investor).
That's a 150% leap in valuation in about 8 months.
VCs have been pounding on Notion's doors for years, trying to buy a stake of the startup which makes an online software suite that combines documents, collaboration, task management, database and allows anyone to customize without programming skills.
That's because Notion's founders decided early on to get and stay profitable.
In its early history, after Notion was founded in 2016, the startup stumbled with a poorly built product and had to lay off all its staff. That experience stuck with Zhao.
His philosophy: It's better to be stay small and nimble so he can react quickly to changing conditions than to try to predict the future. For example, it took his team about a week to roll out a bunch of remote work features last month.
"We can be more in sync, move quicker. That's a better effect in a macro-uncertainty climate," he says.
His focus on being nimble and profitable is the secret to how he raised $50 million in this climate. As to why he chose Index's Cannon: she's been wooing Notion by making herself useful, such as helping him hire, he said.
Zhao is now focused on hiring, especially in sales, and to build a 'go-t0-market team," he says. The company employs about 30 people now and has a couple of dozen jobs open. Remembering how painful it was to layoff his staff years ago, he's especially open to recommendations from other startup founders trying to find jobs for great people they have to let go.
· Now read:
· Using blue shop towels in homemade face masks can filter particles 2x to 3x better than cotton, three clothing designers discover after testing dozens of fabrics
· 'It's like survivor's guilt', says a CEO of a remote-work software startup that is thriving thanks to COVID-19
· 6 tips to make anyone more successful at remote work, from a reporter who's been doing it for 20 years
Join the conversation about this story »
NOW WATCH: 9 items to avoid buying at Costco Reported by Business Insider 10 hours ago.
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