TIA Daily COVID-19 Update – March 27 (Morning Edition)

As TIA continues to monitor the situation surrounding COVID-19 and it’s impact on the 3PL and transportation industries, here is your Morning Update for March 27. As a reminder, you can find all the latest information, resources, guidance, and news from TIA’s COVID-19 Response Center.

TIA is honored to work with the Association of Equipment Manufacturers (AEM) to ensure that freight continues to move freely along the supply-chain during the COVID-19 pandemic and that both of our industries continue to be considered essential during this crisis. Please see the letter to FMCSA Acting Administrator Jim Mullen.

As TIA continues its efforts to provide a suite of resources to our members and the industry in response to the COVID-19 crisis, we’re excited to announce the launch of TIA’s new Virtual Lunch & Learn webinar series.

TIA’s Virtual Lunch & Learn webinar series will be held semiweekly on Tuesday and Thursday afternoons from 12:00 PM – 1:00 PM ET through at least June 2020.

This interactive webinar series is FREE to TIA Members and Capital Ideas Conference Registered Attendees and will provide participants with an opportunity to learn and engage with industry peers during these times of social distancing and teleworking. This webinar series is valued at $699.

Information on the first three Lunch & Learn webinars in the series is below but we want to hear from you on the topics you would like to see presented moving forward. Please complete this brief 30-second survey and let us know what you want from TIA’s Virtual Lunch & Learn webinar series.

Tuesday, March 31: Register Now

  • Families First Coronavirus Response Act & Related Employment Issues
  • Presented by Margo Wolf O’Donnell | Co-Chair – Labor & Employment Practice Group | Benesch, Friedlander, Coplan & Aronoff LLP

Thursday, April 2: Register Now

  • Is Your Incentive Compensation Plan Helping You or Hurting You Right Now? (Part I)
  • Presented by Beth Carroll | Managing Principal | Prosperio Group

Tuesday, April 7: Register Now

  • Is Your Incentive Compensation Plan Helping You or Hurting You Right Now? (Part II)
  • Presented by Beth Carroll | Managing Principal | Prosperio Group

The current numbers show lower infection rates than feared. Even in Italy, only one in 900 people have been infected, and one in 9,000 have died. In the U.S., the numbers are one in 7,000 and one in 500,000. The relatively low infection rates mean the virus itself is unlikely to deny you many workers. The risk is from quarantining. Fatality rates elsewhere in the world have been higher than average for viruses (10% in Italy), although that is elevated by inadequate testing. South Korea is the lone country to have tested adequately. Its rate is 1.4%. The U.S. and several other countries with advanced health systems are in the same ballpark as South Korea.

It appears that this strain of bug reaches an inflection point where the number of new cases starts dropping at between 20 and 35 days from onset. Such timing would allow be short enough to allow relatively orderly recovery from the economic hits from quarantining. Longer timing or steeper peaks in cases would put such economic order in jeopardy. Keep your eye on those statistics.

Whatever the scenario, there is a real chance that this shock could set off a deep recession lasting into 2021. Caution is advised. If a more negative health effects scenario materializes, such a recession becomes very likely. Download Noel’s full report on “What Are the Numbers Telling Us?” today.

Wishing everyone a Happy Friday and hope you all enjoy a much deserved weekend. Here’s Glenn Miller’s “Moonlight Serenade” to close out your week.

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