I’ve been in the crisis business for more than 20 years. I thought I had seen it all. I was wrong. Literally every single one of us right now is in a constant state of trying to figure out our new reality, which seems to change by the minute.
Beyond trying to manage all the changes in our personal lives, we are also trying to address the shifts in our businesses. Right now, most organizations we are working with are looking for guidance on how to put out the daily fires. And, we’re helping with this. We’re also talking a lot about recovery.
Yes, recovery. It seems impossible to even think about right now. But we must. For organizations, the economy and our communities to thrive when we come out of this global crisis, we must plan now. While there are still so many unknowns and we don’t know what our new normal will look like, there are steps that organizations can take now to help establish a stronger foothold, so we all come out of this stronger.
Assign someone to think about the future. It can be someone in-house. It can be one of your external partners. But someone needs to do it.
Condition the environment. You need to plan for, and take, immediate steps that will help in the long run. Almost all industries will face a long road back to financial health and it will be important to have a seat at the table when decisions are made about the future of business. Think beyond the box. What you do now will pave the way for how quickly and easily organizations, the economy and communities can recover.
Plan to come back stronger. I recognize this may not be an option for all organizations. However, where possible, it is important to strategize for the future. Think differently. What do you need to plan for to embrace the new reality? How will your business change? What can you do now to pave the way to be able to pivot? How will you put that into practice? How will what you do impact your employees, the economy, and your community?
I recognize that it’s hard to think past today, let alone think about any time in the future. But we need to prepare for what’s to come, as uncomfortable and as unrealistic that may feel right now.
Jeannette Chapman, Director of the Stephen S. Fuller Institute, presented an economic forecast for the D.C. region that reflects the impacts of the coronavirus pandemic in the months and years to come. You can access the full forecast here.
The Small Business Administration is offering several types of loans to small businesses, nonprofits, and other organizations adversely affected by the COVID-19 pandemic. The Board of Trade has produced a quick guide to help you compare your options.
The COVID-19 pandemic is a public health emergency with far-reaching and severe economic impacts. Susan Lund, Partner at the McKinsey Global Institute, presented findings from their research on several economic scenarios. Tom Barkin, President & CEO of the Federal Reserve Bank of Richmond, explained what the Fed has done to address this crisis and how he sees that dovetailing with other government intervention.
Tom Barkin, President & CEO of the Federal Reserve Bank of Richmond
Listen to the recording
Read a summary
The economic impacts are serious.
The US is mostly a service economy, and now 70% of
the service sector has been shut down. Other industries have been deeply
impacted too, including auto sales, hospitals, retail, and airlines.
Unemployment claims have skyrocketed, and we saw
unemployment claims in one week that were 10x greater than any other previous
week.
The response has three lanes: public health, fiscal, and
monetary.
This is primarily a public health crisis. That’s
the first priority.
We can’t get our economy rolling again without
knowing that people will be safe. The best “stimulus” would be nation-wide
testing. Making sure the hospitals have enough capacity, that we are working as
quickly as possible on a vaccine, are also important.
The second lane is fiscal. The aim here is
stabilization more than stimulus.
The CARES Act included several important provisions,
including expanded unemployment insurance, an expanded small business loan
program, and funding for endangered industries like airlines. The scale, scope,
and design of this act was necessary and helpful given the circumstances,
according to Barkin.
The challenge now is delivering these benefits
to people and businesses in a timely manner. For example, about half the
population does not file their taxes electronically and can only receive the
$1200 cash rebate via a paper check. Many of these people do not have current
addresses registered with the Federal government. It will take time and effort
to get this money into the hands of those people. The SBA loan website has also
been absolutely overwhelmed.
The third lane is monetary. Thanks to lessons
learned in 2009, the Fed was able to move the fastest.
First, they moved interest rates to 0.
Second, they encouraged the banks to step up. They’ve
been given supervisory guidance to extend forbearance to good borrowers who
need it. Banks remain liquid and they need to be motivated and incentivized to
do the right thing at this time.
Third, they’ve deployed interventions to make
markets work. They’ve been trying to intervene in treasury markets to make sure
lending rates are at appropriate levels. They’ve set up a lot of backstop
facilities for commercial paper, money market funds, etc. These actions are
intended to make sure those markets continue to function and that folks who
should get credit can get credit.
Some challenges remain. How much credit risk can
these funding facilities make? That’s a challenge. How do you get the money out
there quickly? Barkin says they are the authorities they have to backstop a
number of these funding markets. But it’s a third priority behind health and
fiscal.
How do we get to the other side of this economic crisis?
We need our essential industries to continue to
operate and for those workers to be safe in their jobs. Food, fire and safety,
cleaning supplies, hospitals, inspectors, electricity, broadband, supply chains,
etc. are all essential.
We need a return to business and consumer
confidence. This has been a real shock, and to get in the other side we will
need consumers to spend and businesses to invest again. But that’s not going to
be easy when the pandemic is going to last a long time. We need to be able to
bring workers back in a way that makes sense and protects their health.
We’re going to need a health protocol. You need
to know that you can go shop, or go to a restaurant, and you aren’t going to
put your life at risk. A good analogy is 9/11 – after the attack, the TSA took
safety very seriously and it made people feel safe to fly again. We are going to
need to change the way we do business everywhere—from empty middle seats on
planes, empty tables in restaurants, etc.
The massive, historic, $2 trillion CARES Act passed last week provides many opportunities for individuals and businesses to find financial assistance. Sorting through those opportunities can leave you asking questions about what your options are and where to start. A stellar briefing team from K&L Gates offered their insight on a call with Board of Trade members this week. Watch the recording or scroll down for a written summary.
The K&L Gates briefing team:
Paul Stimers, Partner
Karishma Shah Page, Partner
Mary Burke Baker, Government Affairs Counselor
Brenden R. Chainey, Associate
SUMMARY
Keeping the Cash Flowing
A collection of tax provisions in the CARES Act are designed
to help individuals and businesses with immediate cash flow problems. The goal
is to make sure that businesses have a workforce ready for them when it’s time
to resume business-as-usual.
For Individuals and Employees
Each American adult with an adjusted gross income of $75,000 or less will receive $1,200 and parents will receive $500 for each child under 17. Individuals earning between $75,000 and $99,000 will earn a lesser amount. This benefit does not apply to individuals earning over $99,000.
Individuals can now take early withdrawals of under $100,000 from their retirement savings without paying a 10% penalty fee.
Employers can provide up to $5,250 of student debt relief per employee on a tax-free basis.
For Employers
Employers can defer their 2020 payroll taxes; half is due is 2021 and half in 2022. (However, employers cannot defer payroll taxes if they are taking advantage of the loan forgiveness provision of the Paycheck Protection Program.)
The bill includes an employee retention credit. If employees are furloughed, employers get a 50% credit on payroll taxes, receiving up to $5,000 per employee. (This can be used in conjunction with the Payroll Protection Program.)
Employers are entitled to a credit against payroll taxes to accommodate providing paid emergency sick leave.
Companies can use AMT credits right away.
The bill relaxes the limitation on business interest expense deductions from 30 percent of adjusted taxable income to 50 percent.
More Unemployment Insurance, for More People
Bolstering unemployment insurance is a big part of the CARES
Act, significantly expanding who is eligible and what they can receive.
Individuals should start by applying for
unemployment through their state, like they normally would.
The bill adds $600 per week to the amount that the
individual would normally receive from their state between now and the end of
July 2020. The Federal Government is compensating the states for that extra
money.
The Federal government is also providing an additional
thirteen weeks of unemployment insurance beyond what individuals would normally
receive from their state.
The legislation expands who is eligible to
include gig workers, contractors, and the self-employed. The Federal government
is also waiving the one-week waiting period before individuals normally become
eligible for unemployment benefits.
If an employer cuts an employee’s hours, that
employee may be eligible for unemployment benefits.
Big Money for Industries in Need
The bill provides hundreds of billions of dollars of funding
to large and mid-sized businesses in need of financial stimulus while much of
the economy is forced to hit pause. It also carves out funds for hospitals,
airlines, and other industries that are being hit especially hard.
The bill provides $100 billion to the healthcare
industry to help it prepare for and respond to the COVID-19 crisis. Hospitals
and other entities involved with the emergency response will receive most of
these funds, and more funding will likely be provided in the future as the crisis
develops.
The bill provides loan guarantees from the Treasury
Department for especially impacted industries, including passenger air carries,
cargo air carriers, and national security businesses.
The bill also provides a large credit facility from
the Treasury and the Federal Reserve. There is very little statutory guidance
on what this will look like—more to come. It will likely be modeled on what we
saw in the 2008 financial crisis: capital infusions to particular types of
businesses where Treasury has broad discretion on what types of investments
they want to make.
Help for Small Businesses
The bill provides funding for small businesses to help them
stay afloat and keep their workers on payroll.
The bill provides subsidies for small businesses that have existing Small Business Administration (SBA) loans to help them service those loans.
It provides money for SBA Economic Injury Disaster Loans, which are targeted at small businesses with fewer than 500 employees, but this could change depending on industries. Those businesses can borrow up to $2 million for working capital. The loans are not forgivable. Businesses are also eligible for a $10,000 immediate advance.
The SBA is also offering the Paycheck Protection Program. These loans can be used to pay for specified expenses such as salaries and wages, rent, utilities, employee benefit costs, interest paid on mortgages. They are managed by the SBA but distributed through participating lenders. The lender will add up how much the company spends on these approved expense categories in a month and multiply that amount by 2.5 to calculate the maximum loan amount allowed (but all loans must be capped at $10 million). The loan forgiveness provision states that any money spent on these approved categories can be forgiven so long as the company does not reduce its workforce or their pay. If the company does reduce workers or pay, the loan may be partially forgiven or not at all. Nonprofit organizations are qualified to participate in this program.
Employers are scrambling to figure out how to manage their
workforce during this unprecedented and fast-changing public health crisis. Elizabeth ‘Betsy’ Lewis,
partner at Cooley, LLP, graciously gave 45 minutes of her time and invaluable legal
guidance to Board of Trade members on March 31 to help them navigate this
complex and challenging situation.
You can listen to the full briefing here or scroll down for a summary of the key points.
SUMMARY
Managing and protecting essential employees
To determine which employees are deemed
essential and can physically show up to work, consult the executive order in
your jurisdiction.
For those employees, be sure you are providing a
clean and safe work environment. Provide gloves and masks if you can,
especially if these employees are required to enter other people’s homes. Provide
for social distancing as much as possible by limiting the number of people who
can be in the same confined space at the same time.
If an essential employee refuses to work because
they feel unsafe, first ask what might change that. What could you provide to
make them feel safer? If no solution is available, see what paid leave you can
provide. Then, offer unpaid leave. Avoid termination unless you must have an
active employee in that position immediately.
If an employee contracts the virus and claims
that they did so on the job, advise them to file a worker’s compensation claim.
They may be denied because for most fields beyond healthcare it is difficult to
prove that an employee contracted the virus on the job and not elsewhere. Regardless,
this is the right direction to give this employee.
If an employee contracts COVID-19 and has potentially
exposed other employees to the virus, notify other employees that they may have
been exposed without naming the diagnosed individual. If you obtain that
individual’s permission, you may name them, otherwise you must protect their
privacy. There may be exceptions to this rule if naming the diagnosed employee
is critical to the safety of other employees, but these cases are rare, and you
should seek legal counsel first.
Facilitating remote work
Don’t be stingy with equipment that will make
remote work more comfortable and productive. Do your best to comply with
requests for office equipment that the individual may need, such as standing
desks.
If you are concerned that some employees will
not be adequately productive working from home, be sure to set very clear
expectations about when they should be online, what they should produce, and
other aspects of their performance. Then, monitor and assess their performance.
This provides an objective measure of their ability to work from home.
If possible, be flexible with respect to work
hours. Many people are trying to juggle work and childcare, and some might be
more productive if they can work when it suits them.
Communicate, communicate, communicate. Check in
with them about work and about their personal lives. Stay connected!
Options for reducing salaries
Check offer letters and contracts to see if
there are any restrictions on your ability to reduce salary. For example, some
employment agreements might allow the employee to quit and collect a severance.
If your offer letter specifies that the employment is at will, this may not be
a problem.
If you do reduce salaries, include everyone
except perhaps your lowest-paid employees. There will likely be ill-will among
your workforce if executives are spared the salary reduction. Many companies
are reducing salaries by a percentage according to employment tier, with higher
earning employees taking the bigger cuts.
Don’t promise to make up the difference in lost
wages later. The law does not allow you to defer wage payments. You can reduce pay
now and make employees whole later by issuing a bonus, if you are able. Just
don’t make any promises that you aren’t very confident you can keep.
Furloughing employment
Furloughing an employee means you are
temporarily stopping work for an employee but intend to bring them back to work
when business resumes. Furlough notices should allow the employer flexibility
by stating that employees could be called back early, their furloughed could be
extended, or they could be terminated.
Furloughed employees are eligible for unemployment
compensation.
Furloughed employees may not be able to keep
their health benefits, so be sure to check with your policy provider. Some providers
are changing the rules and allowing furloughed employees to stay in the plan
due to the COVID-19 crisis, but the employer needs to check. If not, furloughed
employees can continue in the plan via COBRA or state-provided coverage.
Terminating employment
Termination means that there is no intention to
bring and employee back to work.
The WARN Act requires that employers give an employee
60 days of notice when terminating their employment. This typically applies to
employers with 100 or more employees who work 20 hours or more per week when
there are plant closings or mass layoffs.
If an employee is furloughed for less than six
months, the requirements of the WARN Act do not apply and you do not need to
give them 60 days of notice. You can later extend the furlough past 6 months if
circumstances justify it. For example, an employer that services schools is furloughing
employees expecting to bring them back in the fall when schools reopen. But if
they don’t, they could extend that furlough and not be impacted by the WARN Act.
The Family Medical Leave Act (FMLA) requires
that eligible employees be given emergency sick leave to care for themselves or
a family member. You can find more details on this law here. In response to the
COVID-19 pandemic, the IRS is now offering a 100% tax reimbursement to
employers who provide paid emergency sick leave. More information on that
benefit can be found here.
It is inadvisable to ask employees to take paid sick leave followed by a
furlough.
Unemployment is beyond the scope of this call
because it is complex and the rules vary from one jurisdiction to another.
However, do note that though some jurisdictions provide unemployment insurance
to low-wage workers with cut hours, employers should not attempt to use it as a
tool to conserve costs.
Paycheck Protection Program (PPP) loans under
CARES Act can help small businesses keep employees on payroll. The specifics of
this program are beyond the scope of this call. For information on PPP loans, read
this blog from Cooley or join the presentation on the CARES Act by K&L
Gates tomorrow at 10:00AM.
Congress Must Ensure Adequate Economic Relief Funding for Washington, D.C., says Greater Washington Board of Trade
The $2 trillion funding bill is a
life raft for a national economy in peril, but much remains to be done—especially
a fair and adequate funding measure for Washington, D.C.
WASHINGTON, D.C.—The historic $2 trillion economic relief
bill passed in the Senate early Thursday morning is expected to pass the House
and be swiftly signed into law by the President. This legislation is a strong
demonstration of Congress’s willingness to meet the extreme economic and
business impacts resulting from the COVID-19 pandemic.
Unfortunately, the bill does not provide adequate or
appropriate funding for Washington, D.C. The Greater Washington Board of Trade,
the Washington region’s oldest business organization, calls on Congress to ensure
the District of Columbia has the resources needed to address growing economic and
business challenges.
Following is a statement from Jack McDougle,
President and CEO of the Greater Washington Board of Trade:
“We applaud members of Congress for taking bold, swift action to address the economic fallout from COVID-19. Yet, we were very concerned to learn the bill applied the wrong funding formula to Washington, D.C., shorting the nation’s capital by a staggering $725 million. This mistake doesn’t just jeopardize Federal government operations, it jeopardizes a vibrant community of entrepreneurs, restaurants, artists, families, hospitals, businesses of all sizes, workers, nonprofits, and so much more. This can’t stand and Congress must resolve to provide D.C. with the means to alleviate current hardships and accelerate its economic comeback.”
###
MARCH 26, 2020
Senate Bill Gives Communities and Businesses
a Fighting Chance, says Greater Washington Board of Trade
A massive Federal government investment
will keep households and businesses afloat while state and local leaders do
what they must to contain the virus.
WASHINGTON, D.C.—The historic $2 trillion economic relief bill passed in the Senate today is a critical step and we call on Congress and the President to push this legislation into law, says the Greater Washington Board of Trade, the D.C. area’s oldest business organization.
Following is a statement from Jack McDougle,
President and CEO of the Greater Washington Board of Trade:
“Our country and region suffer from the double whammy of a health pandemic and a near economic shut down. We applaud the Senate for working together to get this bill passed and now the House must do the same so the President can sign it into law. We recognize the importance of efforts to contain the virus to protect public health, but we must respond to immediate economic hardships and begin preparing for economic recovery.
The Senate bill begins the healing
process by providing much needed relief to businesses and workers, which are
the lifeblood of our communities. Our region’s state and local leaders are
doing all they can—now Congress and the administration must pass this law and continue
working together to keep American households and businesses afloat.”
###
About the Greater Washington Board of Trade
The Greater Washington Board of Trade is a nonpartisan business organization and has represented all industry sectors in the District of Columbia, suburban Maryland, and Northern Virginia since 1889. The Board of Trade works collaboratively to advance polices, practices, and actions that benefit its members and improve the business environment and quality of life across the region. Learn more at www.bot.org.
Widespread Business Closures in DC, MD, and VA Protect Public Health but Require Bold Economic Remedies, says Greater Washington Board of Trade
WASHINGTON, D.C.—Governments in Virginia, Maryland, and the
District have required that all nonessential public spaces, from restaurants to
hair salons to gyms, be closed to help quell the COVID-19 pandemic. This
necessitates extreme measures to keep local businesses afloat and prepare for
an accelerated recovery says the Greater Washington Board of Trade, the D.C.
area’s oldest business organization.
Following is a statement from Jack McDougle,
President and CEO of the Greater Washington Board of Trade:
“Mayor Bowser and Governors Northam
and Hogan are navigating very difficult decisions in order
to protect the public’s health and safety. They need our support. Experts have
been clear that extreme social distancing is our best hope for getting COVID-19
under control.
At the same time, we must do
everything possible to mitigate the economic fallout. Now is the time for
lawmakers and business leaders everywhere to think and act big. Governments at
all levels must use every tool at their disposal to keep businesses and households
afloat while so much of the economy is shut down. Businesses also must push their
ingenuity to discover new ways to serve their communities and customers while supporting
and protecting their workers. This situation is entirely unprecedented and we must
unite as a region to overcome these many challenges.”
###
Statement on March 19:
Board of Trade Supports Bold Actions to Aid Businesses and Slow the Spread of COVID-19
WASHINGTON, D.C.—The Greater Washington Board of Trade,
which represents more than 300 organizations across all sectors throughout the
District, suburban Maryland, and Northern Virginia, supports government and
business leaders’ bold actions to slow the spread of COVID-19. We also call for
the continuation of significant measures that are essential to blunt economic
impacts, such as the COVID-19 Response Emergency
Amendment Act of 2020 which passed in the
District. This and other critical actions are needed to support suffering businesses.
This unprecedented crisis is affecting each of our industries, small and large businesses, and all categories of workers. The extraordinary measures taken by government officials seek to “flatten the curve” of virus case growth so that adequate healthcare can be provided to avoid a public health calamity. Our region is fortunate to have an amazing medical community focused on caring for our residents.
Still, the economic consequences of these decisions are felt
harshly across the region, especially for hourly and tipped workers who are losing
their incomes overnight, and small businesses dependent on daily revenues. Government
and business leaders must further deliver innovative solutions to meet current
needs while preparing for an economic recovery.
“These were tough decisions for Mayor Bowser and Governors Hogan
and Northam resulting in immediate business and economic hardships,” said Jack
McDougle, President and CEO of the Greater Washington Board of Trade. “No
leader wants to disrupt daily life and close doors for local businesses. It’s
important that we all work together to protect the public health of our
residents and workforce, and similarly important to proactively address the huge
economic impacts affecting our region.”
For most leaders in the Greater Washington region, the
COVID-19 situation is new territory—a challenge with far-reaching consequences.
What we know from the 2018-2019 government shutdown, which also created
widespread financial instability, is that our resilience stems from our
ingenuity, generosity, and compassion. By working together, we can avert a
public health disaster while protecting businesses, workers, and their
families.
###
About the Greater Washington Board of Trade
The Greater Washington Board of Trade is a nonpartisan
business organization and has represented all industry sectors in the District
of Columbia, suburban Maryland, and Northern Virginia since
1889. The Board of Trade works collaboratively to advance polices, practices,
and actions that benefit its members and improve the business environment and
quality of life across the region. Learn more at www.bot.org.
COVID-19 is a rapidly evolving situation. Below you will find quick answers to the top questions we have heard from members over the past week. We will continue to monitor the situation closely and release new information when possible.
Many of these questions were raised on a Board of Trade briefing call on March 5 with Dr. Michael J. Manyak, MD, FACS, Global Urology Medical Director at GlaxoSmithKline. Below is a summary of that Q&A and it has been reviewed by Dr. Manyak.
Is everybody overreacting? Isn’t this just a bad flu?
COVID-19 is not the flu and should not be treated like the flu. It is more severe and has a higher fatality rate, especially for people over 60 years of age and for people with compromised immune systems and other health issues. Compounding the problem is that it spreads more quickly than the flu, putting many people in the hospital at one time. When there are not enough hospital beds, equipment, and staff to properly treat those affected, fatality rates climb higher. Overwhelmed hospitals also struggle to treat people with other conditions. Intensive care units may be forced to triage patients and deny life-saving care to some. Northern Italy is currently facing this nightmare scenario.
Slowing the spread of the disease will save lives. It will keep the number of severely affected people below the threshold of what our medical system can handle. This is the idea behind the call to “flatten the curve.”
You can find more information on the COVID-19 virus on the CDC website.
What steps should I take now to protect my employees and
my organization?
First, issue clear communication to employees on how to slow
the spread of this disease, both within and outside your office.
Stress the importance of following standard hygiene recommendations, such as washing hands, avoiding touching one’s face, and coughing into a tissue.
Consider eliminating all non-essential staff travel and large meetings.
Ask that all employees who have the symptoms of COVID-19 (fever and cough), have come into contact with someone who tested positive for COVID-19, and/or have recently visited a high-risk area stay home for 14 days.
Refer to CDC and WHO guidance when determining whether a visited area should be deemed “high risk.”
Employees may struggle to comply with this policy. Employers can help by enabling employees to work from home or, if that is not possible, providing paid leave. Employees should know that there will be no repercussions for taking this important precaution.
Lastly, consider how your organization can help the rest of
the Greater Washington community should COVID-19 cause large-scale disruptions.
In early 2019, this region was impacted by a prolonged government shutdown, and
many types of organizations banded together to help those who were impacted. We
can do that again.
What should I do if one of my employees thinks they could
have COVID-19?
Instruct your employee to contact their primary care
physician. If they meet the criteria for COVID-19 testing, their physician will
order a test from the CDC. They should not go to the emergency department
unless they are experiencing severe illness and require intensive treatment.
What should I do if one of my employees tests positive
for COVID-19?
If they test positive, they should not return to your office
until their primary care physician believes they are no longer contagious. You
should notify all other employees who have come into contact with the infected
employee and instruct them to self-quarantine for 14 days.
Am I obligated to notify
the CDC or another government authority?
No. The CDC and local authorities will already know of your
employee’s test results, so there is no reason to report them.
Is there a COVID-19 vaccine? What are the treatments?
There is no COVID-19 vaccine and we may not have one for
another year at least. There is no specialized medicine for COVID-19, although
fake medicines are being sold on the internet (do not buy them!).
Effective treatment for most cases will include the
flu-recovery basics: rest, fluids, over-the-counter medicines, and hot soup.
Severe cases may require hospitalization.
Should I cancel my meetings and events?
The more people who are in the same physical space at the same time, the greater the risk that a contagion will be brought into the group and spread. For this reason, many organizations are deciding to cancel or postpone large gatherings, and the DC Department of Health recommended that all gatherings over 1000 participants be postponed or cancelled. Some are moving ahead with meetings and encouraging participants to sanitize their hands and embrace contactless greetings, like waving, instead of shaking hands. Note that many organizations are disallowing staff from attending large gatherings, so if you are hosting one this spring you may see reduced attendance.
Ultimately, whether you host an event is a judgement call that
depends on your risk tolerance and the risk tolerance of your attendees.
For more recommendations for event planners, see the CDC guidance.
Should I buy masks for my employees?
No. Masks should be reserved for healthcare workers and
those who are already diagnosed with the virus. Wearing a mask does not reduce
your risk—it only reduces supply for those who need them.
How long does the virus last on solid surfaces, like a
keyboard of touchscreen?
A recent study estimates that the virus can survive on a solid surface for up to three days. For this reason, organizations should consider regularly disinfecting frequently touched surfaces in a shared office area, such as refrigerator door handles. (Note: You can find a list of COVID-19 fighting products here)
Following is a statement from Jack McDougle, President & CEO of the Greater Washington Board of Trade, in response to the growing risk of a COVID-19 outbreak in the Greater Washington region:
While reports have not yet identified the presence of the coronavirus disease (COVID-19) in Greater Washington, now is the time to prepare for how a widespread outbreak might impact your workforce and business operations.
Our team is monitoring regional efforts to prepare for and respond to a potential spread of the virus. The Board of Trade is in active communication with government agencies and many of our member organizations at the front lines, including hospital systems, and we see that significant efforts are well underway. We stand ready to support those efforts however we can.
Our focus is to provide members and the business community with information and tools that might assist your planning and preparedness efforts. At this point, we are aligning with the advisories being issued by the proper authorities while being careful to resist unnecessary alarm.
Important Links on Coronavirus (COVID-19) per state/jurisdiction:
