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The Office of Personnel Management directed federal agencies to hold off on issuing expected pay raises for a number of senior government officials, including Vice President Mike Pence and Cabinet members, in a memo Friday evening.Dozens of high-ranking officials were supposed to see an increase in their salary, while hundreds of thousands of federal employees and government contractors are unsure when they will see their next paychecks amid the partial government shutdown.Last month, Congress failed to extend the pay freeze on the raises, which would have ended effectively on Saturday and let the increases kick in.But the OPM "believes it would be prudent for agencies to continue to pay these senior political officials at the frozen rate until appropriations legislation is enacted that would clarify the status of the freeze," Margaret Weichert, the acting director of the Office of Personnel Management, wrote in the memo.OPM plans to issue new guidance once Congress passes updated legislation, Weichert said in the memo.OPM's move comes after Trump 1076
The budget deficit over the last 12 months (4 billion or 4.4% of GDP) is at its highest level since 2013Revenue as a share of GDP is at its lowest level since 2013 pic.twitter.com/gGopPnOelw— Nick Timiraos (@NickTimiraos) March 5, 2019 250
The brand and intellectual property of Sports Illustrated have been sold to marketing company Authentic Brands Group for 0 million.Meredith Corporation, the current owner of the iconic magazine, announced the sale on Tuesday. In an unusual arrangement, Meredith will continue to publish the Sports Illustrated magazine and website.The structure of the deal suggests that the Sports Illustrated brand is much more valuable than the storied magazine.Authentic Brands Group, which owns the brands of celebrities like Marilyn Monroe and Elvis Presley, will assume the marketing, business development and licensing of Sports Illustrated's intellectual property.Jamie Salter, CEO of Authentic Brands Group, said in a statement that Sports Illustrated's "trusted name and fiercely devoted following set the stage for the brand to become a leader in lifestyle and entertainment."According to the companies, potential new business opportunities include events, conferences, gambling and gaming products as well as video and television.Meredith, which is paying Authentic Brands Group an undisclosed fee to publish the Sports Illustrated magazine and website, said it would maintain the publication's editorial independence.Sports Illustrated was put up for sale last year along with Time, Fortune and Money magazines, which Meredith acquired via its purchase of Time Inc. Meredith also owns People, InStyle and Better Homes & Gardens.Salesforce CEO Marc Benioff and his wife Lynne Benioff purchased Time in September.Meredith sold Fortune to Thai billionaire Chatchaval Jiaravanon in November, and decided to take Money magazine off the market in April, turning it instead into a digital-only publication. 1715
The Institute for Health Metrics and Evaluation has published projections on just how the onslaught of COVID-19 cases are expected to impact the nation and all 50 states in the coming weeks. The data, which the White House has used to help advise President Donald Trump and members of the coronavirus task force, is dubbed the "Chris Murray Model." The Chris Murray Model is made available through the University of Washington website. It is updated every morning based on testing from around the country.Dr. Debroah Birx, a member of the White House coronavirus task force, said that the data is consistent with projections used from 12 other sources the White House has relied on to model its COVID-19 projections. "We’ve reviewed 12 different models, and then we went back to the drawing board over the last week or two, and worked from the ground up utilizing actual reporting of cases," Birx said in a White House briefing on Sunday. "It’s the way we built the HIV model, the TB model, and the malaria model. When we finished, the other group that was working in parallel which we didn’t know about, (Institute for Health Metrics and Evaluation) and Chris Murray, ended up at the same numbers. So if you go on his website, you can see the concern that we had with the growing number of potential fatalities.” As of Tuesday, the Chris Murray Model projects that the United States would see a peak demand of ICU visits around April 11 and hospitalizations on April 15. The data also projects that the national peak of deaths per day would come around April 15. Unfortunately, the data suggests that the demand in most states will far exceed the supply for ICU beds. In New York, the number of patients requiring an ICU bed will exceed the supply of such beds by 12 times, based on the projection. In Louisiana, the demand for ICU beds is expected to be three times the supply. The Chris Murray Model does offer some optimism that the United States will successfully "flatten the curve." Only a handful of states are expected to have a shortage of overall hospital beds. It also shows that numbers in most states will begin to tail off by early May, although some states, such as Virginia, could still be dealing with a number of cases well into June. The model also assumes that every state will maintain social distancing guidelines through the duration of the epidemic, which offers a key variable on how the numbers could change. The Chris Murray Model does have a slightly more optimistic outlook on the number of fatalities compared to official White House figures. The Chris Murray Model projects a death toll of nearly 84,000 COVID-19-related deaths into the summer, giving an overall projected range of nearly 36,000 to 154,000. The White House said on Tuesday that it is projecting a national death toll of 100,000 to 240,000. The projection shows that as many Americans will die from COVID-19 in April compared to an entire high-end flu season, even with social distancing guidelines in place. Click 3025
The chief financial officer for Bed Bath & Beyond says 40 of the business' stores will close this year, but 15 new ones will open.On the company's earnings call, CFO Robyn D'Elia said they are in need of more favorable lease terms with landlords.The goods retailer is based in New Jersey. In the last quarter of 2018, the company closed 21 stores and opened three, 381