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Commercial real estate leader Steve Schwab is looking to sign tenants to leases at a new development in downtown Denver but he’s running into troubles linked to the pandemic.“COVID has a had a major effect, probably the most major effect in the sales business,” he said.Schwab, a managing principal at Cushman & Wakefield, says COVID-19 has had a major impact on commercial real estate in a short amount of time.“Between the first quarter and the second quarter, we saw office investments sales decrease by about 72%,” he said.Schwab says unemployment, more people working from home and social distancing are impacting commercial real estate sectors like shopping centers, hotels, retail and office spaces.He says that the road to recovery will be very challenging, something other industry experts agree with.“The restaurants, the gyms, the bowling alleys, those are going to struggle over the next 12-18 months until we get back to full physical occupancy,” said Spencer Levy, chairman at CBRE.Levy says high inventory combined with low interest rates could attract foreign investors to American commercial real estate, something he welcomes with open arms.“Foreign money isn’t just cash. It brings everything with it. It brings jobs, it brings foreign students, it brings people that buy retail,” he said.But will foreign investment bring more people back inside massive buildings?Levy compares what today's commercial real estate industry needs to rebound to that of 9/11.“We had a period of time where people were tragically afraid to be back in the cities, afraid to go back into tall buildings. But that passed after people had better security in those buildings,” he said. “We are going to see exactly the same thing today from a wellness prospective.”With many major retailers already moving out of brick and mortar buildings, and millions of square feet available across the country, Levy says the commercial real estate industry needs more government assistance on the road to recovery. 2005
Community colleges have always put career readiness at the forefront of the courses they offer. Now, in the current economic downturn, they're hoping to increase their student to job pipeline."We really feel like our role is to identify what jobs are available right now for students that they can apply and be working while going to school. What are the future jobs that we need to be preparing students for?" asked Dr. Shanna Jackson, the President of Nashville State Community College in Tennessee. Dr. Jackson says students are battling so much right now, including choosing between having to work and going to school.Dr. Jackson is hoping an million investment in the company Handshake, to help expand job recruitment to community colleges, will help."We actually already have 70 community colleges that have already signed on to be early pilot partners with us so we're really learning from them. We’re listening to them. We’ve started an advisory group with this population so that we can continue to ascertain what are the biggest pain points. What are their biggest areas of need for these students," said Christine Cruzvergara, Handshake's VP of Higher Education and Student Success.Handshake helps connect students with employers through career fairs, job postings and other services, and previously only worked with four-year universities. Cruzvergara says they're working with state systems throughout the country to connect with technical and community colleges."It'll be a really similar experience. It’ll all be part of one network and that's actually why it's a huge benefit to community colleges. We know for some of our biggest employers that they want to recruit 2-year talent. They don't see 2-year talent as different from 4-year talent for internships and jobs, they simply have a number of different types of roles and positions that are available to all types of students," said Cruzvergara. The partnership hopes to bring new recruitment benefits to students."The tools that something like this provides really enhances their opportunity to cast a wider net and then they can decide which job offer they want to say yes to instead of maybe taking the first one they hear about," said Dr. Jackson. Dr. Jackson says more employers are realizing the value of an Associate's Degree and the technical skills it can often provide, especially in today's economy. 2393

Citing deadlock in negotiations between the administration and congressional Democrats to create a second stimulus bill, President Trump signed four executive orders Saturday aimed at helping Americans struggling with the ongoing pandemic.Here is a look at what each one says and what next steps could be.Unemployment benefitsOne of the most highly-anticipated and most debated executive order is focused on increased weekly benefits for those claiming unemployment. President Trump’s executive order would make it 0 a week and require states to provide 25 percent of the funds.The CARES Act had added an additional 0 a week to what states offered in unemployment benefits. The funding came from the federal government for that added weekly benefit, and ended August 1.It's unclear whether states have the money or the will to fund the new plan. Connecticut Gov. Ned Lamont says it would cost his state alone 0 million to provide the extra benefit through the rest of 2020.He is one of several who have come out since Saturday’s announcement and expressed concern at states being able to afford to participate in the extra unemployment benefits.Many states are already facing budget crunches caused by the pandemic. Asked at a news conference how many governors had signed on to participate, Trump answered: “If they don’t, they don’t. That’s up to them.”By Sunday night, Trump clarified how the process could work, telling reporters states could apply to have the federal government provide all or part of the 0 payments. Decisions would be made state by state, he said.On CNN’s “State of the Nation” on Sunday, White House economic adviser Larry Kudlow said conflicting things about whether the federal money was contingent on an additional contribution from the states.Initially Kudlow said that “for an extra 0, we will lever it up. We will pay three-quarters, and the states will pay 25 percent.” In the same interview, though, he later said that “at a minimum, we will put in 300 bucks ... but I think all they (the states) have to do is put up an extra dollar, and we will be able to throw in the extra 0.”A clarifying statement from the White House said the “funds will be available for those who qualify by, among other things, receiving 0/week of existing assistance and certify that they have lost their jobs due to COVID-19.”Evictions moratoriumThe previous moratorium, which was part of Congress-approved aid earlier this year, ended at the end of July, leaving an estimated 12 million households potentially at risk that were protected. Some states have taken action on their own to extend the moratorium, but not all.The original ban on evictions applied to mortgages that were backed by federal funds. By some estimates, this only covered about a fourth of the country’s rental units. The majority of units have private mortgages or owners and were not covered by the ban.The new executive order signed Saturday states "the Secretary of Health and Human Services and the Director of the CDC shall consider whether any measures temporarily halting residential evictions of any tenants for failure to pay rent are reasonably necessary to prevent the further spread of COVID-19."The president’s plan calls on the Housing and Urban Development and Treasury secretaries to identify any available federal funds to “provide temporary financial assistance to renters and homeowners" who are "struggling" to pay mortgages and rents.On Sunday, White House economic advisor Larry Kudlow said the order will put a complete stop to evictions.“The health secretary has the authority, working with the CDC to declare it an emergency. And, therefore, there will be no evictions,” Kudlow said in an interview with CNN. He reaffirmed that if Health and Human Services declares an emergency, evictions will be stopped.Kudlow added that the executive order sets up “a process. A mechanism. I can't predict the future all together. All the federally financed, single families and multifamilies will be covered as they have been.”There has been no update yet on how long this process could take to identify available funds, and how much assistance the administration could provide.Payroll taxesTrump’s executive order on payroll taxes is a postponement of the collected taxes until the end of the year, and defers the due date for the portion of taxes paid by employees. Federal payroll taxes are roughly 6.2 percent for Social Security and 1.45 percent for Medicare.The deferment would only apply to employees making less than roughly 0,000 a year.Think of it like the deferring of federal income taxes, American still had to file and pay their taxes but they weren’t due until July 15.The payroll taxes would still be due at the end of the year, and companies control whether the taxes are withheld from paychecks or not. There is no word yet if companies will continue to collect the payroll taxes from paychecks in order to pay at the end of the year.President Trump during Saturday’s press conference on the executive orders said if he was elected president he would work to forgive the levy and make cuts to payroll taxes. However, many are clarifying that the power to change tax laws lies with Congress and not with the president.Student loansThe fourth executive order directs the Education Department to extend the student loan relief until the end of the year.Loan payments and the accruing of interest on federally-held students loans is on hold right now until September 30. The executive order would move that date until December, and potentially longer. Trump eluded to possibly extending the deadline out further.Trump originally waived student loan interest by executive order in March, and the policy was clarified to include pausing loan payments and included in the CARES Act passed by Congress. 5841
Crowds of migrants resumed their long journey north on Sunday from the Mexican border city of Ciudad Hidalgo, according to Mexican federal police officers.The caravan was headed for Tapachula, a city about 37 km (23 miles) north of the Mexico-Guatemala border, the officers told CNN.There were about 10 buses awaiting migrants along the highway between Tapachula and Ciudad Hidalgo and the drivers had been instructed to carry the migrants to shelters in Tapachula, the officers said. It was unclear how many of the group were from the migrant caravan and how many were Mexicans who joined the march.One migrant, a 20-year-old Honduran named William, told CNN he crossed into Mexico via a float that carried him across the muddy Suchiate River on Saturday.He left home looking for work, he said, and was ultimately bound for either Mexico or the U.S. -- wherever he could land a job. 891
COLORADO SPRINGS, Colo. — Fourteen people were injured and at least two animals were killed at the Cheyenne Mountain Zoo when a hailstorm tore through the Colorado Springs area Monday afternoon.Five zoo patrons injured in the storm were transported to the hospital with unknown injuries, according to the Colorado Spring Fire Department. Nine people were treated at the scene. Several kids attending zoo camp were reported to be safe with no injuries.Zoo officials said a vulture and a duck were killed. "It was hail the size I've never seen before," Jenny Koch, the zoo's marketing director, told The Denver Post. "Basically chunks of ice. ... It's frightening." 697
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