The governor of Michigan, whose strict coronavirus lockdown policies have caused “armed” protests, is taking heat after her husband ended his own lockdown against his wife’s orders.
Gov. Gretchen Whitmer (Democrat, of course) has applied some of the strictest regulations in the country as Covid-19 swept through Michigan, found herself facing protests by some residents, including those who showed up on the steps of the capital carrying their firearms. Whitmer has said some of the protesters had “nooses and swastikas,” along with their guns, as they screamed, “Lock her up!”Last Monday, Whitmer announced that she was lifting some lockdown restrictions in some areas before Memorial Day weekend. But “if you don’t live in these regions … think long and hard before you take a trip into them,” she said. “A small spike could put the hospital system in dire straits pretty quickly. That’s precisely why we’re asking everyone to continue doing their part. Don’t descend on [waterfront] Traverse City from all regions of the state.”
Three days later, a marina owner wrote on Facebook that the governor’s husband, Marc Mallory, had asked its workers to get their nearby boat in the water before Memorial Day, the Detroit News said Monday.The vacation property that the governor and her husband own is about 25 minutes from Traverse City, the News said. The couple’s main residence is in Lansing.
“This morning, I was out working when the office called me, there was a gentleman on hold who wanted his boat in the water before the weekend,” NorthShore Dock LLC owner Tad Dowker wrote Thursday on Facebook. “Being Memorial weekend and the fact that we started working three weeks late means there is no chance this is going to happen,’’ Dowker wrote, the paper said. “Well our office personnel had explained this to the man and he replied, ‘I am the husband to the governor, will this make a difference?” The company later said on its Facebook page that Mallory was respectful when told it couldn’t accommodate him, and their posts have since been made private. And this is one of Joe Biden’s VP candidates.
Is this just politics as usual or should their be consequences for these actions? Respond to this email and let us know what you think!!!
Buffet: Out of Airlines, Bullish on EV’s
Airlines may take years to recover from the Covid-19 pandemic, but the electric car industry should rebound with profits. The possible economic outcomes for the transport sector due to the Covid-19 pandemic are perhaps most clearly reflected in decisions of investment giant Berkshire Hathaway, led by chairman and CEO Warren Buffet.
Buffet confirmed in the firm’s annual shareholders meeting (online audience only of analysts and investors), that the Berkshire sold its entire stakes in four major US airlines, American, Delta, Southwest, and United. It is a purely financial decision, said Buffet, and one that should not be mistaken as a market prediction. What does that mean?
It seems like Warren remebered a comment he made over 10 years ago, “The airline industry’s demand for capital ever since that first flight has been insatiable. Investors have poured money into a bottomless pit, attracted by growth when they should have been repelled by it,” Buffet wrote in a 2007 investor letter. Years later, he takes a near 10% stake in each carrier.
The electric car market, meanwhile, looks much better. Tesla has reported its first profitable quarter. Warren Buffet-backed Chinese battery and EV maker BYD is predicting a return to profits. BYD has taken a hit over the past few quarters, due to a cutback in electric vehicle subsidies.
But in a statement released last Tuesday by the company, it said it expects a 25% net rise in income for the first quarter of 2020 despite an 85% slump in the first quarter due to the pandemic. “In the second quarter of 2020, the impact of Covid-19 on the domestic market is expected to gradually subside, and the automobile industry will recover steadily,” BYD said in the statement.“NEV sales and revenue of the group will ride out the downturn, thereby driving the group’s revenue to resume growth.” Warren has a history of telling the public one thing, but not really practicing what he preaches. So you SHOULD probably take this as a market prediction.
China Takes a Shot at the US in the Currency Realm
China set its daily yuan reference rate at the weakest level since 2008 after increasing political tensions with the U.S. drove the currency to a seven-month low.
Unlike other major currencies such as the Euro or the Japanese yen, which have a free floating exchange rate, China maintains strict control of the yuan’s rate on the mainland.
Every morning, the People’s Bank of China (PBOC) sets a so-called daily midpoint fix, based on the yuan’s previous day closing level and quotations taken from inter-bank dealers. The central bank also manages China’s complex monetary policy. This is a way for them to manage the value of their currency (some would say manipulate) so that offshore movements in their currency do not necessarily affect onshore prices.
The People’s Bank of China (OTC:BACHY) set the yuan fixing at 7.1209 per dollar. That compares with the 7.122 average estimate. The fixing limits the onshore yuan’s moves to 2% in either direction.
The offshore rate, which edged toward the weakest level on record last week, was little changed at 7.1502 per dollar on Monday.
The onshore yuan last closed at 7.131 per greenback in Shanghai on Friday. The daily fixing is calculated with formulas that take into account factors such as the previous trading day’s official close at 4:30 p.m, the yuan’s move against a basket of currencies and the moves in other major exchange rates.
Make no mistake, this is an attempt by China to To keep prices stable to consumers on the mainland. it also artificially affects trade to the detriment of the United States. This is a shot fired in the trade war , which now seems like it is fully on again
CVS Adding Coronavirus Testing is Good for the Stock
CVS Health Corp (NYSE: CVS) is opening 44 new COVID-19 test sites at select CVS Pharmacy drive-thru locations across Texas. These new sites will utilize self-swab tests and will be available to individuals who meet the U.S. Centers for Disease Control and Prevention criteria in addition to age guidelines. Patients must register in advance for an appointment at CVS.com.
“Texas continues to rapidly ramp up COVID-19 testing in our communities, and these new drive-thru testing sites provided by CVS Health will further expand access to these tests throughout the state,” said Gov. Greg Abbott in announcing the new test sites. “I thank CVS Health for establishing these drive-thru testing sites here in the Lone Star State. We are committed to working with our health partners in the public and private sectors to expand our testing capabilities, protect public health, and mitigate the spread of COVID-19.”
“While the large-scale test sites we’ve been operating since early April have proven successful, this new approach allows us to utilize our presence in communities across the country and bring testing closer to home,” said Larry J. Merlo, president and CEO, CVS Health. “Our frontline employees will continue to play a critical role in the testing process, with members of their communities directly benefiting from their dedication and selflessness.”
Patients can just stay in their cars and head to the pharmacy drive-thru window, where they will be provided with a test kit and given instructions. A CVS Pharmacy team member will observe the self-swab process to ensure it is done properly. Tests will be sent to an independent, third-party lab for processing and the results will be available in approximately three days.
CVS plans to have over 80 drive-thru testing locations in Texas by the end of May. A list of locations is available in the governor’s news release here. As Reform Austin previously reported, Walgreens began offering COVID-19 tests to Texans in April.
The stock gapped up on Tuesday and fell back a bit but has a strong chance to grind higher. It’s still below it’s 200-day moving average, so that may be the take off point.
00-Pigeon
A pigeon suspected of being trained to “spy” on India by Pakistan has been captured in India along one of the world’s most volatile borders, according to Indian officials.
They said the bird was carrying a “coded message” and was caught by villagers along the border which separates Indian and Pakistan-controlled parts of Kashmir.
Security agencies are trying to decipher the message according to the same officials.
Kathua Police’s senior superintendent Shailendra Mishra said the villagers gave the pigeon to police on Sunday after it flew into a woman’s house from Pakistan.
He said: “A ring was seen attached to one of its legs with some numbers on it and a probe is on.
“We can’t say it was used for spying. Locals, seeing a tag tied with its leg, caught the pigeon. Some called it a coded message. In Pakistan’s Punjab, people tie number tags on pigeons to claim ownership.”
Birds have reportedly been used for espionage in the disputed region before. In 2016, police in Pathankot, in India’s Punjab state, took in a bird that was found near the Pakistan border which had a note attached to it with an alleged threat to Indian Prime Minister Narendra Modi.
The year before, a bird was seized a few miles from the border after being spotted carrying a “stamped message” on its body, according to local reports…we await the pigeon’s trial and sentencing.