In another sign of the financial havoc the covid-19 crisis is wreaking on arts groups, Shakespeare Theatre Company has laid off a third of its full-time employees and cut its budget by 44 percent.
Some 38 members of the Tony-winning organization's 116-person staff were notified of their termination over the past 10 days or so, company officials said. The reductions across multiple departments came as STC slashed its fiscal 2020-21 budget from $18.5 million to $10.5 million, according to Executive Director Chris Jennings.
And here's another article:
Why You Should Add Savings to Your Budget - TheStreet
Is saving an expense? Maybe not technically. But if you treat it that way, you’re much more likely to do it. Just as you wouldn’t stiff the electric company or your cable provider, treating your savings or retirement account as a bill — an actual line item in your budget, rather than an afterthought — may help you build a bigger balance.
Ask any newly retired person and they’ll tell you: Saving was worth it. In fact, most people wish they’d saved more.
Camden Town Council approves budget, leaves out tax hike
Camden Town Council nixed a proposed increase to commercial property taxes when approving the town's $2.2 million budget in a virtual meeting July 6.
This comes after business owners spoke against the tax hike in the June 1 meeting, which ended in a unanimous vote to table the budget. The town had planned to raise the commercial rate from $1.59 per $100 of assessed property value to $2.08, an almost 31% increase.
City Council Accepts Visit Newport Beach Report, Budget Amid COVID-19 - Newport Beach News
At the Newport Beach City Council meeting on July 12, Councilmember Diane Dixon pulled consent calendar item 12, the Annual Report and Budget for Visit Newport Beach, Inc. (VNB), a business unit of Newport Beach & Company, which serves as the administrator for the Newport Beach Tourism Business Improvement District (NB TBID), for further discussion.
According to the Staff Report on this item, under the terms of the NB TBID agreement with the City, the NB TBID assesses its member hotels three percent of gross short-term (less than 30-day stays) room rental revenue.
Quite a lot has been going on:
Shakespeare Theatre Company Lays Off One-Third of Full-Time Employees and Cuts Budget By 44%
Shakespeare Theatre Company has laid off a third of its full-time employees and cut its budget by 44%, The Washington Post reports.
Company officials said that 38 members of the company's 116-person staff were notified of their termination over the past 10 days. This comes after the company cut its 2020-21 budget from $18.5 million to $10.5 million.
"This is all very tragic, and for no other reason than the pandemic," said Simon Godwin , Shakespeare Theatre's artistic director.
DoD wants more stimulus money for contractors, lawmaker interest is low | Federal News Network
The Defense Department says it could use another $10 billion to deal with the fallout of coronavirus and keep its industrial base companies afloat.
Deputy Defense Undersecretary for Acquisition and Sustainment Alan Shaffer said Tuesday that that money would, in part, go toward paying contractors for employee compensation when they couldn't work on federal projects because of COVID-19.
Meanwhile, DoD is trying to allay congressional fears that money going to large corporations to keep the supply chain moving is actually getting down to smaller subcontractors.
IHG, Hilton, Marriott Among Hotel Giants Battling for UK Budget Hotel Chain – Skift
Global hotel companies are in negotiations with the leading ownership group of a UK-based economy chain to change flag affiliation. If talks result in a deal, it could end up being the first major hotel transaction resulting from the coronavirus pandemic's downturn in travel.
The Travelodge Owners Action Group, an organization representing the landlords of more than 400 of the 580 Travelodge — no relation to the Wyndham-owned Travelodge — hotels in the UK has been in a tense rent battle with the economy hotel chain since the pandemic forced hoteliers to suspend operations. UK hotels were only able to reopen to non-essential travelers on July 4.
AirAsia is confident it can return to profitability in 2021, CEO says
AirAsia , one of the top budget airlines in Asia, is confident it can bounce back to a profitable position next year, even as the threat of a resurgence in coronavirus cases is weighing down the global aviation industry, Chief Executive Tony Fernandes said on Wednesday.
That target "sounds incredibly bullish, but I've been through many, many crises before," Fernandes told CNBC's "Street Signs Asia."
* * *
Measures to contain the spread of the virus — which include border closures and movement restrictions — brought demand for air travel to a sudden halt . Airlines around the world were left struggling financially, with many having to cut jobs and turn to government aid to stay afloat.
Happening on Twitter
"The lady doth protest too much, methinks" - Queen Gertrude, HAMLET by William Shakespeare https://t.co/aHGDbFmJHS RealJamesWoods Wed Jul 15 17:31:59 +0000 2020
Out now on Audible. You can hear Arthur as Shakespeare in the Sandman... https://t.co/oq5wZeWZII neilhimself (from a bit all over the place) Wed Jul 15 09:53:12 +0000 2020
In Star Trek they're always referencing Shakespeare and Victor Hugo and stuff but like... they're in the future. Th… https://t.co/CYnlFpF3Du jennyjaffe (from She/her) Thu Jul 16 04:17:38 +0000 2020
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