Daily Archive: June 21, 2020

MLBPA to delay vote while seeking COVID-19 info By Reuters

The Major League Baseball Players Association will delay voting on the league’s latest proposal while it collects further information on health and safety protocols, according to multiple reports on Saturday.

Recent positive coronavirus tests led to the shutdown of spring training sites, and the MLBPA is seeking to learn more about the health plan as COVID-19 continues to be an issue. The season was scheduled to start March 26, but the pandemic led to a delay.

ESPN reported that the vote could have taken Sunday but will now likely be delayed by one or two days.

MLB is expecting an answer from the MLBPA per a 60-game proposal with expanded playoffs. If the MLBPA turns down the offer, commissioner Rob Manfred has the power to implement a schedule, which would likely consist of somewhere between 50 and 60 games.

The union presented a 70-game proposal earlier this week, and MLB

Read More

Investment tips for millennials: Bear markets are a gift for those with a long runway ahead

I turned 65 this spring and for some strange reason, now find myself prone to pontificating. That includes pouring my hard-earned wisdom onto young business partners and unsuspecting nephews.

It’s hard to resist because today’s youth are taking an unprecedented interest in investing. It’s been a unique aspect of the COVID-19 cycle. Discount trading platforms are seeing a surge in account openings while trading in low-priced stocks has exploded.

Last week, I overheard a young guy tell his friend that he was spending a lot of time on investing. “I’ve focused in on the Nasdaq,” he said. My nephew, who’s never been particularly interested in investing, asked me whether it was time to buy Air Canada.

This is exciting for me because I’ve preached for years (even before reaching the appropriate age) that young investors should be bouncing off the ceiling when stocks are down. Bear markets are a gift

Read More

Persistently high layoffs suggest a slow U.S. economic rebound

Three months after the viral outbreak shut down businesses across the country, U.S. employers are still shedding jobs at a heavy rate, a trend that points to a slow and prolonged recovery from the recession.

The number of laid-off workers seeking unemployment benefits barely fell last week to 1.5 million, the government said Thursday. That was down from a peak of nearly 7 million in March, and it marked an 11th straight weekly drop. But the number is still more than twice the record high that existed before the pandemic. And the total number of people receiving jobless aid remains a lofty 20.5 million.

The figures surprised and disappointed analysts who had expected far fewer people to seek unemployment aid as states increasingly reopen their economies and businesses recall some laid-off people back to work. The data also raised concerns that some recent layoffs may reflect permanent losses as … Read More