Adonis Diaries

Archive for the ‘economy/finance’ Category

Repetitive illnesses: Shouldn’t beast of burden enjoy the rights that Humain refuse themselves

Note: Repost of 2004 “What are the rights of the beast of burden; like a donkey?” 

Article #4: Human Factors in Engineering

People used to own donkeys for special works and they still do in many places.

Donkeys are relatively cheap, if you can find them:  They are quite obedient and resilient.

Donkeys can endure hardships if you provide food and minimal care.

Low level employees, such as in data input jobs, are far less loved and appreciated than the former hot blooded mammals.

They helplessly endure repetitive musculoskeletal pains. Ironically, many of the clerks do proudly claim these pains as a badge of honor.

They are remunerated cheaper than donkeys because all that their job entails is to just sit and do monotonous work.

They suffer all the sedentary diseases: neck, head, shoulders, and back pains.

They suffer irremediable hands, fingers and wrists handicaps for the rest of their wretched lives.

Graphic designers are certainly a tad better: They are paid slightly better; not for their artistic imagination, but may be because they can also use a few more computer application programs.

Historically, the design of the characters on the first typewriters was meant to slow down typing:

Fast typing used to jam the arms of the mechanical typewriters.

A large order by a big company at the time hampered any redesign of the characters for the newer technological advances in the manufacture of typewriters.

Still, secretaries had to awkwardly learn typing fast to meet production and greed.

The benefits of redesigning the shapes and forms of computer keyboards, which could temporarily alleviate the many cumulative musculoskeletal disorders from harsh continuous and daily typing, did not reach the common typists and data entry clerks.

These low level employees were not worth any investment in upgraded keyboards.

Higher level employees, who barely use computers for any productive task, were honored with the latest gizmos.

In fact, I believe that even the best ergonomically designed keyboards cannot solve these disorders:

Heavy computer users, for 8 hours daily, are still performing repetitive movements, sitting still, eyes riveted to a display.

They are still asked to perform maximally, under the watchful and tireless computer supervisor:

An efficient program is embedded in the computer itself, a program meant to collect data and analyzes performances of the donkey clerk.

Employees should not demand any redesign of the characters on keyboards.

Any faster typing design will be at their detriment and they will pay the price bitterly.

Their task will come to higher risks to their health and safety with no increase in wages.

They should know that faster standards will then be required of them;

Instead of 60 words per minutes, Mr. Greed might ask of them to be able to type 300 wpm.

It is not enough to improve technology; we need to restrain its consequences.

Bless the French Rabelais who said: “Science without conscience is the ruin of the soul”.

Note: Nothing has improved with the new communication technologies, but with small mobile phones people don’t have to sit still in one place. People can lay down, move and commit traffic accidents talking and manipulating their new gizmos.

Has Covid-19 changed this notion of “Moral Entity”?

Note: Repost of 2011 article “A moral entity? What are multinational corporations?”

Even developed States are hostage to mega multinational financial “entities” and subordinated to their dictat.

Follow the money trail” is the principal rule for investigating criminal activities of mafia, dirty politicians, money launderer, and cases of conflict of interests in public institutions dealing with private enterprises.

“Follow the money trail” is a valid guiding rod to investigating how current deteriorating moral values and ethical conducts are making inroads into our societies and taking ascendency over well-tested sets of values.

Any sane thinking individual can find a direct link between how financial multinationals function and their corresponding predominant value system.

Financial multinationals are disseminating, by their global branches, and their affiliation with other companies and media, by their close cooperation with political organizations and States governing bodies, the value system and ethical standards that promote their interests (shareholders) and mentality of financial profit by all means.

As one State erect barriers to influx of unnecessary products and product competing with its autonomy, economic and financial security, and preserving its scarce resources, you find multinational companies vigorously push forward, dislodge the barriers and exploit resources of weaker nations.

Financial multinationals and multinational enterprises bribe their way and threaten with the heavy stick of their original powerful nations to impose their will and interests with makeshift contracts, not even valid in any serious court of justice.

Ironically, while a financial multinational threatens with embargo and sanctions, supported by its powerful government, it really don’t give a damn of the citizens of its original country: Money and profit have no restrictive citizens or smelling race. Money and profit  have no standard particular social value.

Who control a multinational corporation?  You might reply:

“He is the appointed General Director by the elected board members.”  Who control the board of directors?  You might say: The shareholders.  And you carry on your excuses for exploiting people and nations on the premise that shareholders invested for profit and they are generally not aware how the corporation do business on their behalf.

There are figure-head shareholders who elect nobody, and shareholders extending their voting rights to a third-party, and super electing body or “club of the old money

For example, you say this dictator control this State, and who control the dictators?  You might say the bondholders or the multinational financial institutions controlled by the club of old money.  And you ask: “who are these clubs of old money?”

And you start reading biographies of these old crooks who “whitened their money in highway-robbery schemes” and how their inheritors legitimately resumed the same crooked behavior:

They were elected to political offices and they finance election campaigns, and fund lobbies for special interest laws.

A “moral entity”?

Time to start redefining what a moral entity means.

It is time to get outraged big time and return the power and rights to the people.

Tidbits #16

Prediction that the richest 1%  in the world would own the same wealth as the poorest 50% by 2016 had come true a year earlier than expected. Those are the only predictions that come true. Including increased natural calamities. And increased flow of refugees and displaced people. And more people dying of hunger and curable diseases.

The adult world is becoming a curiosity to me at an advanced age: When the time was due to step in, it was too late for me to learn a new set of behaviors, like observing intently and asking plenty of supposedly nonsense questions

Refugee kids playing “game of crossing borders”: running around then shouting POLICE POLICE … all kids to the ground, quiet! They get caught by the police. Kid continues the story: “ then they put us in this closed van! No windows, very crazy roads. We started vomiting, they didn’t stop. They just kept driving and sent us back to this camp in Bosnia.

” Sometimes, your only available transport is a leap of faith“? All the time, all I need is an available transport system: train for example and public on-time public transport?

Mimeomia: the frustration of knowing how easily you fit into a stereotype, even if you never intended to, even if it’s unfair, even if everyone else feels the same way. Categorization trend is Not helpful in sociology.

Civilization “conveyor belt”: Tribes bordering urban and rural regions. Transmitters of cultural differences, prime “intelligence gatherer or front-line intelligence agencies” for the powerful neighboring empires. These tribes are the guides in time of wars; and they guard the security of caravans crossing regions and extend facilities in water and supplies.

 Music is syntactic, not semantic (meaning). Language of music preceded speech.

The Mekong Delta is a huge network of river tributaries that far outnumber roads. Because of the combined effects of climate change, dams, and sand mining of the river, 300,000 people have left the region over the past few years—they can no longer sustain their livelihoods due to the dwindling waterways.

Why world economy is Not disturbed and shares don’t drop when epidemics are located in Africa? Ebola, Sida…

In 2 decades (1910-30) the Harlem section of Manhattan drew nearly 175,000 African Americans to its neighborhood of just three square miles. The influx of people to the area led to a period of groundbreaking contributions in what became known as a the Harlem Renaissance. #BlackHistoryMonth

Two decades since bed bugs returned in force, why don’t we have a solution? The answer comes down to money: very expensive to treat. Bed bugs have circled the world, traveling on first-class luggage and hopping on hostel-going backpacks, paranoia has followed.

The quick stress reaction is considered “positive,” because it is temporary and helps us survive. But there are the “toxic stress” from frequent more mundane stressors: Our bodies react in the same way. When a child faces constant and unrelenting stress, from neglect, or abuse, or living in chaos, the response stays activated, and may eventually derail normal development. The consequences sometimes even span generations for these adverse childhood experiences, or ACEs,

I am glad oil and gas demand and consumption and reserves are dwindling: constant growth economies are the plight for the recovery of earth and sustainable situation

Three current studies have uncovered this direct correlation: Offshore accounts of “Elite class” of under-developed States increase 3 folds each time the World Bank infuses fresh money to their States. And it is the poorer people who suffer from increase taxes and conditions imposed by the IMF and World Bank. 

And the Lebanese banks responded to the government attacks: All decisions were taken by the State institutions

رد مصرفي عنيـف علــى اتهامات الحكومـــة:*

طفح الكيل ولينتظروا منا ما يضع النقاط على الحروف!*

المركزية- تعتبر جهات مصرفية في مجالسها الخاصة، وفي اجتماعاتها المغلقة أن الكيل بدأ يطفح من حملات السياسيين الرسميين والحزبيين ومن الإعلام الدائر في فلكهم على خلفية تشويه صورة القطاع المصرفي واتهامه بإخفاء الأرقام والتلاعب بها،

في حين أن الحقيقة تكمن في أن الحكومة ووزارة المال هي التي تقوم بذلك بغطاء من مجلس النواب وتحاول الإفلات من محاسبة الناس والرأي العام باتهام القطاع المصرفي بشقيه مصرف لبنان والمصارف التجارية زوراً!

ويتساءل مرجع مصرفي عبر “المركزية”: “أيجوز للحكومة ومجلس النواب اللذين يضعان الموازنات ويقرانها بدون قطع حساب أن يوجها أصابع الاتهام الى المصارف التي تنشر موازناتها السنوية وتدفع على أساسها الضرائب للدولة اللبنانية، وتخضع لرقابة الجهات الرسمية كما للمساهمين والجمعيات العمومية؟

وهل يجوز لمن يخفي الأرقام الحقيقية للعجز في موازانات الدولة اللبنانية من خلال ألاعيب تأجيل الدفع وعدم إدراج الكثير من القروض التي حصلت عليها الدولة من الدول والصناديق ومستحقاتها في الموازنات أن يتهم القطاع المصرفي بعدم الشفافية والتلاعب بالأرقام وإخفائها”؟

ويتابع المرجع المصرفي: “ألا يخجل السياسيون من أسئلتهم المشبوهة حول حقيقة أرقام القطاع المصرفي وهم لغاية الآن لم يتمكنوا من حصر كلفة سلسلة الرتب والرواتب التي أقروها قبل سنتين بالتهور والشعبوية على سبيل رشوة الناخبين ومن إعطاء رقم صحيح وثابت لكلفة هذه السلسلة وما ترتبه على الدولة سنويا وانعكاساتها على المديين المتوسط والبعيد بالنسبة الى حجم الرواتب التقاعدية وتعويضات نهاية الخدمة، على رغم مرور أكثر من سنتين على أقرارهم سلسلة الرتب والرواتب”؟

وعن اتهام المصارف بالتواطوء مع مصرف لبنان لتأمين الديون المطلوبة للدولة على حساب المودعين بفوائد مرتفعة،

يسأل المرجع : “إذا كانت المصارف “متآمرة” مع المصرف المركزي لغايات تجارية وربحية كما يقولون، فما دخل المصارف بسندات الخزينة التي اشتراها الصندوق الوطني للضمان الاجتماعي لتمويل عجز الخزينة،

وهل أن القيمين على الصندوق ومرجعياتهم السياسية مستثنون في هذه الحالة من التهمة التي يوجهونها زورا الى المصارف؟

وهل المصارف اكتتبت في سندات الخزينة سرا وتهريبا أم بناء على قوانين أصدرها مجلس النواب بناء على طلب الحكومة.

وهل المصارف والمودعون هم الوحيدون الذين استفادوا من الفوائد المرتفعة؟

ألم تستفد الدولة من الضرائب على الفوائد؟

وكم تبلغ قيمة الأموال التي جبتها الدولة من هذه الضرائب علماً أن الضريبة التي جبتها الدولة اللبنانية من أرباح المصارف من الهندسات المالية بلغت لوحدها 800 مليون دولار”؟

ويمضي المرجع في تفنيد الحملة على المصارف بالقول: “يتهمنا بعض السياسيين والحزبيين زورا بتبديد أموال المودعين، علما أن هذه الأموال معروفة وجهة التوظيف والاستثمار في القطاعين العام والخاص بكل دقة،

ولكن هل بإمكانهم أن يشرحوا لنا وللبنانيين أين وظفوا هم وكيف صرفوا أموال سندات الخزينة وأموال الضرائب والرسوم والعائدات التي جبوها بالمليارات من الشعب اللبناني؟

وأذا سلمنا جدلا بأن اتهاماتهم صحيحة للمصارف ومصرف لبنان بتبديد اموال المودعين من خلال توظيفها في سندات الخزينة، فإن السؤال البديهي هو أين بددت الدولة أموال المودعين والمصارف الذين استثمروا في سندات الخزينة، فسندات الخزينة موجودة بيد من اشتراها

لكن أين هي الأموال التي أخذتها الدولة؟ وهل تُسأل المصارف في هذه الحالة عن تبديد الإيداعات أم الدولة؟”

ويضيف المرجع المصرفي: “يطالبون المصارف بأن تأتي بأموال أصحابها، وبأموال المستثمرين اللبنانيين والعرب والأجانب فيها من الخارج لتأمين السيولة بحجة الحفاظ على أموال المودعين وحقوقهم، وهي محفوظة ومضمونة بالنسبة الى المصارف،

ولكن هل يمكن لأحد من المسؤولين السياسيين في الدولة أن يجيبنا من أين سيأتون هم بالأموال لسداد تعويضات نهاية الخدمة وحقوق المستشفيات والمتعهدين والمضمونين في الصناديق الضامنة للدولة اللبنانية”؟

ويتابع: “إضطرت المصارف تحت ضغط حالة عدم الاستقرار السياسي والأمني والإقتصادي الذي تتحمل مسؤوليته الحكومة أن تتخذ إجراءات موقتة لتنظيم سحب الأموال النقدية،

لكنها لم تتوقف يوما عن تلبية ما يمكن تلبيته من حاجات المودعين وتأمين حقوقهم ولو بالحد الأدنى الممكن والمتاح، فهل يحق للحكومة والسياسيين الذين يعملون على اتخاذ قرار بالتخلف كليا عن الدفع للدائنين الداخليين والخارجيين أن يأخذوا على المصارف التقنين في مواجهة الهجمة على السحوبات وتخفيض قيمة الأموال النقدية المسحوبة”؟

ويسأل: “بأي منطق تريد الحكومة التخلف عن دفع سندات الخزينة عنوة وقبل التفاوض وتنظيم الجدولة مع الدائنين، علما أن 80 بالمئة من دين الدولة اللبنانية هو دين داخلي، وهي في الوقت ذاته تتهم المصارف بحجب الأموال عن المودعين؟

من أين تأتي المصارف بكامل الأموال الموظفة في سندات الخزينة إذا تخلفت الدولة عن الدفع؟

وماذا عن سندات الخزينة التي اشتراها اللبنانيون مباشرة من الدولة؟

ألا تحاسب الدولة على عدم تسديدها؟ وألا يعتبر ذلك سرقة لأموال الناس مشابهة لسرقة أموال المصارف؟ ومنذ متى، وبأي منطق أو قانون تحاسب ضحية المتخلف عن الدفع ويُبرأ المتخلف”؟

ويخلص المرجع المصرفي الى التأكيد بأن المفلس هو الدولة اللبنانية وليست المصارف ولا الشعب اللبناني!

وبالتالي فالمفلس المبذر الذي تصرّف بأموال المصارف والناس هو من يجب أن يكون في قفص الاتهام والمحاسبة والمحاكمة وليس ضحاياه.

ومع ذلك فالمصارف مستعدة لتحمل كامل مسؤولياتها، ولكن هل تتحمل الحكومة والسياسيون مسؤولياتهم الأخلاقية والأدبية والمعنوية قبل القانونية؟

ويختم:”طفح الكيل أو يكاد من الكذب والتزوير والتجني والافتراء! ومن الآن وصاعداً لن نسكت على هذه الحملات… ولينتظروا منا ما يعجبهم وما يضع النقاط على الحروف”!

Note: Political system of civil war militia/mafia “leaders, Central Bank, banking system, and parliament controlled by the chief of all mafias  coalition Nabih Berry, and the Hariri clan controlled Lebanon since 1992.

So, where Lebanon should start his “reforms”?

إذا بلّشنا بالسنيورة أو ميقاتي بي قولوا أهل السنة…
وإذا بلّشنا بسلاح الحزب أو الإستاذ بي قولوا أهل الشيعة…
إذا منبلش بمجرمين الحرب بي قولوا كلنا شاركنا بالحرب…
إذا بلّشنا بالمطار بي قولوا ليش مش بالمرفأ !!
إذا بلّشنا بالنافعة بي قولوا ليش مش بالكازينو…
إذا بلّشنا بالحدود بي قولوا ليش ما بتبلشوا بمزارع شبعا…
إذا بلشنا بالمصارف بي قولوا بلشو بالقضاء…
إذا بلّشنا بالكهربا بي قولوا بلشوا بلشوا بالوزراء والوزارات…
إذا بلشنا بمافيا الموتورات بي قولوا بلشوا بمافيا الدواء…
وإذا بلشنا بالزبالة بي قولوا بلشو بالتهريب الجمركي…
إذا دعمنا الصناعة بي فزّوا جماعة الزراعة…
إذا دعمنا التجارة بي فزّوا جماعة السياحة…

وهيك مكملين !.

Muin Nasr posted on Fb. March 3 at 1:43 PM

أنا أشاهد ولا أرى

أشاهد الكذب ولا أرى الكاذب
أشاهد القتيل ولا أرى القاتل
أشاهد المسروق ولا أرى السارق
أشاهد البائس ولا أرى صاحب القصر …
أشاهد تمثيلية ماساة ، ابطالها يحاربون المرض والعوز والدجل والكفر بكل ما يمت بصلة للإنسانية .. ولا أرى الكاتب ولا المخرج ولا المنتج …
انا متفرج .. اتفاعل واتألم و ابكي وأفرح وأحزن وأحقد وأكره وأحب .. لكن كل ما احس به، لا يؤثر في مجريات احداث ما أشاهد …
أنا قاعد في بيتي وعلى أريكتي ……

أشاهد، لكني لا أرى

Prime enemies to Capitalist America: Well-adjusted and well-fed minority and educated working class kids

Note: re-edit of the article posted on September 12, 2010

The prime enemies to Capitalist America are well-adjusted and well-fed minority and the educated working class kids.

Parents in the US are witnessing a reduction of 40% of their quality time to caring for their kids.

Kids return home alone, eat frozen food, watch TV, play video games, and are isolated from their environment.

Parents have to work twice harder for longer duration for less than what they earned three decades ago.

Even national health care coverage for the downtrodden has barely passed Congress with drastic restrictions.

Kids are getting hooked to alcohol and drugs and are seeking gang-type protection against their loneliness and disorientation.  Fact is, most States that are satellites to the USA lack national health coverage and the schooling system is mostly privatized.

Why IQ is dropping dangerously?

James Coleman reached this conclusion: “Kids competence in school depend largely on the total effect of the environment (family, community…)  The effect of school programs and system are secondary factors.  It is basically the lack of environmental support and care that is driving kids stupid and dropping from schools:  Kids are being herded to the job market earlier than expected and working in minimum wage jobs with no prospect for advance for lack of adequate education.

For example, Bush Junior has started this program “No Child Left Behind” and is continued by Obama with a nastier restriction.  This program is meant to just teach kids to pass the test.

Kids are tested every couple of years and so are the teachers tested for “performance” of teaching to the test program.

Not only kids are not learning but teachers have been robbed of their educational rights to forming good minds, reflecting brains, offering various perspectives and point of views.

Students are to answer according to preset ideological programs.

Obama wants teachers to be evaluated by students!

Ignorant kids evaluating how well the teacher is preparing him to pass a stupid test. Teachers have to play kid among kids to earn his salary.

Kids are not learning anything in deep; the educational system does Not want to produce competent and creative kids:  Just kids proficient in passing tests.  Later on, proficient in scalping institutions and bypassing regulations by learning how the system works.

John Dewey (1859-1952), social reformer and influential in educational methods, was a prime US principal sources of inspiration to a progressive educational movement.  Dewey wrote: “The ultimate goal of education is Not consumerism goods but producing free men, associated as equals.”

Dewey stated in 1920: “Power resides in the control of means of production, of exchange, of publicity, of transport, and of communication.  Those running these facilities are governing the society. The quest for profit is managed and controlled by banks, landowners, and barons of industries. This quest for profit is reinforced by the press, journalists, and the other vectors in publicity and propaganda.”

The British mathematician and philosopher, Bertrand Russell stated: “Education has for objective to extending values contrary to domination; it must be forming well-advised citizens, in a free society; to conciliate patriotism and liberty with individual creativity.  This pre-suppose treating children as we treat a young shoot endowed with proper nature:  Requiring the right soil, air, light, and water.

The current educational ideology can be summarized as follows:

“Each individual, in an ideal configuration, seeks to a position of master among slaves.”

Relentless competition and the lure for quick gain are sure ways to destroying a sense of community.

Normal people are feeling insecure, afraid, and uneasy in their environment (and the rate of suicide is climbing dangerously).

People are claiming to be “apolitical” (in a bad connotation) because they feel helpless to performing any social changes:  They simply blame the political structure, government, and official.

People are sensing after frequent crisis (preemptive wars, financial crashes, and reduction in opportunities and salaries) that governments are but shadows to the capitalist structure favoring private multinationals.

Capitalist enterprises impress upon governments the policies and laws that suit their monopoly and reducing common people to serfdom.

The media is not doing an honest job:  They are not pointing the finger to the proper sources of people’s insecurity and inequality in opportunity and wealth.

For example, David Moss of Harvard Business School compared two graphs extending for a century.

The first graph showed statistics of the gap between the rich and the poor in America over the years.  The second graph showed the tightening of financial regulations and financial crisis.

The two graphs matched completely.

In 1929, 10% of Americans hoarded 50% of the wealth (the 1% of the richest Americans disposed of 24% of the total wealth). In 2007, exactly the same gap between the classes were observed.

In Europe, more factors inter in times of crisis because the States are involved in supporting the downtrodden in matters of health, schooling, and subsidies to the less fortunates.

While in 1930 the gap shrank between the classes, this gap has not changed since 2007.  Most probably, the crisis is not over until the Federal government support the less fortunate in work opportunities and better salaries.

Note 1:  You are encouraged to read Noam Chomsky’s “For a humanist education”

Note 2: This ratio of 1/10 of the richest classes hoarding the vast majority of a country wealth in the capitalist developed (colonial powers) is steady, and what changes slightly is the rate of wealth. Actually, in all the non-developed States that claim to have “liberal economics” and claim to have a faked “democratic” system have the same ratio, but the members of the rich clubs rotate around the close family ties of the monarchs and dictators.

These  so-called “liberal economies” are meant to encourage the exploitation of the country by multinationals in order for the “elite class” to receive new quick foreign financial incomes.

Has Coronavirus disrupted global economy? In what way?

By Alison Griswold & John Detrixhe. Feb.26, 2020

There are still more questions than answers as Covid-19, the disease caused by a novel coronavirus, spreads.

The global “risk” put a major dent in stock markets around the world as investors head for the relative safety of bonds. Oxford Economics forecasts that the virus could knock as much as $1.1 trillion off equity markets this year, depending on the severity of the impact.

That uncertainty is illustrated in corporate filings and earnings calls, as analysts and executives try to calculate the impact of the epidemic on supply chains, the global economy, and things like commodity prices.

Many execs say it’s still too early to assess the effects of the coronavirus spread, but some are beginning to dial back expectations, according to a Quartz review of calls and transcripts since Dec. 1, 2019 on financial research platform Sentieo.

Tech companies have been among the hardest hit in the stock market in recent days.

Firms like Apple and HP, the multinational maker of laptops and printers, are sensitive to supply chain disruptions and have led declines over the past five days.

Others whose core business is hardware component production are already warning of a decline in sales.

Chipmaker Infinera said yesterday that it had baked in a $15 million hit to revenue from coronavirus in the first quarter.

Steven Fieler, CFO of HP, on Feb. 24:

In Q2, we expect a negative impact to our top line, bottom line, and free cash flow, although we view the impact as temporary with limited impact to our second half. In total, net of mitigations, we have factored in an $0.08 EPS impact into our Q2 guidance.

We are also expecting to have a significant impact to free cash flow in Q2, with negative impacts to working capital due to delayed production and manufacturing timing and back-end loaded revenue linearity. Again, this should be temporary and not materially impact the full year.

Christine Gorjanc, CFO of wireless security camera maker Arlo Technologies, on Feb. 24:

Coronavirus is impacting our business on the supply side as our vendors do not have sufficient quantities of the required components to fulfill our demand because the component factories are operating at considerably reduced output.

Additionally, in the second quarter, we have new product introductions planned that we believe will be impacted by the component shortages, as well as delayed delivery of some of the manufacturing equipment from China.

To take this into account, we have built in an impact of between 5% and 10% to our original revenue expectations for the first quarter and are expecting an impact to be between 20% and 25% for the second quarter.

Paul Oldham, CFO of semiconductor supplier Advanced Energy Industries, on Feb. 18:

Due to the uncertainty created by the novel coronavirus outbreak, we are providing a wider guidance range based on our team’s current assessment of our supply chain, product delivery, and production planning. In the near term, we expect to see some increased costs for expedite fees, transportation, and factory utilization as we actively work with our suppliers and customers to mitigate the challenge and fulfill our increasing backlog.

Energy company stocks can fluctuate based on expectations for economic growth—as an economy revs up, it tends to use more energy.

Anthony Petrello, president of oil and gas driller Nabors Industries, on Feb. 21:

Oil prices are reacting to fears of reduced economic growth in crude oil demand in China and elsewhere. These fears have been triggered by the recent coronavirus outbreak in China. The impact to global oil demand is uncertain, though reports estimate consumption in China has declined by as much as 3 million barrels per day.

Consumer discretionary companies can tumble when people are worried about their jobs and put off making purchases that aren’t vital.

Food and hospitality companies with operations in China are also impacted amid worker shortages and as consumers stay home.

Jesse Timmermans, CFO of e-commerce fashion firm Revolve Group, on Feb. 25:

Our expectations factor in an estimated 1- to 3-point negative impact to net sales growth as a result of the coronavirus outbreak, with the expected negative impacts focused on the first and second quarters. The negative impact is due primarily to supply constraints on our own brand manufacturers as well as our third-party brands that’s sourced from China.

We are also experiencing a negative impact on consumer demand in the Greater China region in our REVOLVE segment, but this is a much smaller impact given the relative sales mix from this region. The situation remains fluid and uncertain, so our estimate of the negative impact from the coronavirus outbreak is based on our best information as of today and is subject to change.

Michael Stornant, CFO of footwear manufacturer Wolverine Worldwide, on Feb. 25:

While the prospects for growth in 2020 are very promising, our outlook is tempered by first half headwinds from the coronavirus situation and some continued softness in the US wholesale channel. We expect 2020 reported revenue to be in the range of $2.29 billion to $2.34 billion, including $30 million of negative first half impact from the coronavirus and $10 million in negative impact from foreign currency.

Financial firms are closely linked to the state of the economy and changes in interest rates. Their stocks will be buffeted as quarantines disrupt their customers’ businesses through supply chains and worker staffing, forcing them to seek credit and potentially delay repayments.

Jamie Dimon, CEO of JPMorgan, at investor day on Feb. 25:

It’s very hard to tell you. So I don’t want to guess. Obviously, we hope it’s contained. It’s a human casualty. I mean, you do feel terrible for it. The only question is, when you have South Korea and in Japan now with these rapidly increasing curves, how bad is it?

How do they get there? They’ve been talking this morning about they don’t know who patient No. 1 was in Italy. And did that come from—I had this nightmare that somehow in Davos, all of us who went there, got it. And then we all left and spread it.

The only good news from that is it might have just killed the elite but—so I just don’t know. Well, we’ll just have to wait and see. I’m not sure if it helps to guess.

Industrial companies have so far taken a lighter hit in financial markets, but coronavirus has cropped up the most on their calls of any sector, per Quartz’s analysis.

Joel Wine, CFO of transportation services company Matson, Inc., on Feb. 25:

We expect COVID-19 to negatively impact a number of our businesses, and we estimate the financial impact to operating income and EBITDA to be approximately $15 million.

Sy Feng Chong, CEO of engineering group Singapore Technologies Engineering, on Feb. 24:

Around half of the COVID-19 impact will be felt at our aerospace sector.

Contributing factors include customer demand reduction, supply chain, and workforce redistribution. For example, if airlines continue to scale back the flight schedule, it will affect our aerospace MRO business as more airlines—airline customers adjust or delay maintenance cycle.

Not every company is losing value because of the virus.

Shares of Zoom, the video-conferencing platform, are up more than 50% so far this year, on what appears to partly be virus-induced demand for its services. “Almost everybody is calling us, given the coronavirus,” Zoom CEO Eric Yuan told CNBC earlier this month. “Our usage is very, very high since the last month, the last week. Almost every day, that’s a record usage.”

But for every Zoom that’s apparently profiting, many more companies will take at least a short-term hit.

These discussions between analysts and execs show just how broadly coronavirus has already touched the global economy, and the depth of the uncertainty over how long its effects will linger. One thing’s for sure: On corporate conference calls, coronavirus will keep spreading.


adonis49

adonis49

adonis49

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