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Following economic shutdowns to slow the spread of the coronavirus, and with the US still dealing with the spread forthe pandemic, experts from the UCLA foresee a US economic depression into 2023.The researchers say that unemployment levels of 10% could persist into the fall, and 6% unemployment could remain through the end of 2022.US unemployment was below 4% earlier this year."To call this crisis a recession is a misnomer. We are forecasting a 42% annual rate of decline in real GDP for the current quarter, followed by a 'Nike swoosh' recovery that won't return the level of output to the prior fourth quarter of 2019 peak until early 2023," writes UCLA Anderson Forecast senior economist David Shulman in an essay titled "The Post-COVID Economy."The researchers note that the economy has already hit rock bottom. But GDP and employment levels won’t see a quick recovery.But Shulman said that the entire economic meltdown cannot be blamed on the coronavirus. Shulman and UCLA researchers say the pandemic has accelerated economic trends that were already moving toward increased digitization of business functions and online commerce. 1149

Former "America's Next Top Model" contestant Jael Strauss has died after a battle with breast cancer, according to an update posted to her official fundraising page on GoFundMe.She was 34."Today we lost our earth angel and she is back in the spirit world from which she came and we know she will be watching over all of us," read the update. "She will dance at how we celebrate her life by spreading the love that she lived by daily with a reckless abandon."Strauss went public with her battle with stage 4 breast cancer in October."It has aggressively spread throughout my body and is incurable," she wrote in a Facebook post. "With treatment it may prolong my life longer than the 'few months' doctors said I could make it. I don't want to die."She entered hospice on November 22.Strauss competed on Season 8 of "America's Next Top Model." She placed sixth in the competition.Fellow "America's Next Top Model" contestant Jaslene Gonzalez, who was crowned the winner of that season, paid tribute to Strauss on Twitter."I wish I could of seen her once more," Gonzalez wrote. "She was going through a whole lot. We don't know for what reasons, but man was she one of the strongest I knew. My prayers are with her and her family."According to her GoFundMe page, in lieu of flowers, the family has asked for donations to help pay for funeral arrangements and outstanding medical expenses. 1393

Former Arizona Diamondbacks player, Matt Mantei, was reportedly arrested in Michigan Tuesday for assault and battery.According to TMZ Sports, Mantei, 44, was arrested and booked into Berrien County Jail.Details surrounding his arrest were not immediately available but Mantei remained behind bars as of Wednesday morning, TMZ says.Mantei played 10 seasons in the big leagues for the Diamondbacks, Red Sox and Marlins. On July 8, 1999, he was traded by the Florida Marlins to the Diamondbacks where he remained through the 2004 season. 552

For years, Toys "R" Us was an American success story.Now the discount toy retailer is in its final chapter. The company filed for bankruptcy in September. On Wednesday, Toys "R" Us told employees that it would close or sell all its stores in the United States.It's an ignominious end for the company that was once the toy industry's powerhouse. In the second half of the 20th century, just after the Baby Boom, Toys "R" Us grew into a dominant retail chain thanks to its low prices and a knack for keeping the nation's hottest toys in stock."Toys 'R' Us, Big Kid on the Block, Won't Stop Growing," a Wall Street Journal headline blared in 1988.It all started in 1948, when Charles Lazarus, age 25, opened a baby furniture store called Children's Bargain Town in Washington, D.C. He knew Americans returning from World War II were starting families and needed somewhere to stock up on nursery decor.But before long, Lazarus discovered that the real money was not in cribs, but in toys.Toys break, or go out of fashion — which means parents need to go to the store more often, Toys "R" Us explains in its online company history.In 1957, Lazarus opened his first store stocked only with toys. It was modeled after a supermarket, with items stocked high on shelves and a wide assortment of choices. He named it Toys "R" Us — with a backwards "R" in the logo that was supposed to look it it was drawn by a kid.The mainstays of the iconic Toys "R" Us marketing campaigns emerged over the next two decade. Dr. G. Raffe, which had been used to advertise Children's Bargain Town, became "Geoffrey."In a Washington Post ad from 1970, an eager Geoffrey touted "super giraffic selections" inside "super giraffic stores!" Geoffrey made his first TV appearance in 1973. The "I don't want to grow up" jingle made its debut in the early 1980s.In the meantime, Toys "R" Us was booming.The company went public in 1978 after the bankruptcy of onetime parent Interstate Stores. It quickly became a Wall Street favorite. In 1980, the Los Angeles Times called Toys 'R' Us "one of the New York Stock Exchange's hottest stocks.""What we are is a supermarket for toys," Lazarus told the Washington Post in 1981. "We don't have a competitor in variety. There is none."The Washington Post story favorably compared Toys "R" Us to another American giant: McDonald's."Like McDonald's, with its regimented service and standardized burgers and fries, Toys 'R' Us has become an American institution," the article said.Toys 'R' Us was also known in the corporate world for its sophisticated use of computers."One thing that sets the Toys 'R' Us operation apart is that Mr. Lazarus knows precisely what his customers are buying," a 1985 Wall Street Journal article said. "Each product is tracked by computer, and that helps the chain spot hot-selling items weeks before most competitors do."Lazarus also kept his stores stocked with a variety of baby products, like diapers and formula, so shoppers would have a reason to shop year-round.Things started to go awry in the 1990s. In 1994, Lazarus stepped down as CEO. But the biggest change came when Walmart started offering lower prices on diapers, according to toy industry analyst Jim Silver.While Toys "R" Us remained a destination during the holidays, it lost regular shoppers during the rest of the year."That changed everything," Silver said.In 2001, Toys "R" Us opened a flagship store in Times Square, complete with a 60-foot Ferris wheel and a life-size Barbie dollhouse, in order to juice enthusiasm. But the costs were "astronomical," Silver said.On shaky ground, Toys "R" Us was taken private by a group of private equity firms in 2005. Bain Capital, Kohlberg Kravis Roberts & Co. and Vornado Realty Trust bought the company for .6 billion.Saddled with debt, the store was not able to pour enough money into necessary, innovative changes. By the time Amazon ruled the online shopping ecosystem, Toys "R" Us was lightyears behind — despite an early partnership with Amazon in 2000. The agreement to jointly sell toys online ultimately went sour and ended after a court fight."Walmart had a better online experience. Target had a better online experience," Silver said. "They lost online and they didn't adapt."In 2015, Toys "R" Us closed its Times Square mega-store. It was the beginning of the end.A dismal 2017 holiday season was the death knell. Toys "R" Us will run out of cash in the United States in May 2018, according to a recent bankruptcy filing."Everything is up for sale," Toys "R" Us CEO David Brandon told employees on a conference call earlier this week. 4609

First Lady Melania Trump announced Monday that the new tennis court pavilion at the White House is completed, just six weeks before President-elect Joe Biden is expected to be sworn in as the 46th president of the United States.According to a White House press release, the project included renovating the existing tennis court and children's garden, as well as building the new pavilion, which was both "planned to blend with the existing structures on the White House grounds."The new building's design was inspired by the White House's existing architectural style, especially the East and West Wings, the first lady's office said."The colonnade, parapet wall, and fanlight windows tie the new building to the existing look and feel of the White House," the press release stated."I am pleased to announce the completion of the Tennis Pavilion on the White House grounds. Thank you to all of the talented craftsmen who made this project possible and to the generous supporters of the White House," said First Lady Melania Trump. "It is my hope that this private space will function as both a place of leisure and gathering for future First Families."Planning for the renovation began in early 2018. The Commission of Fine Arts and the National Capital Planning Commission approved the project in June 2019. Construction began that October.The White House says the project was paid for with private donations and did not disclose the cost. 1449

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