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March 2020's Converge Newsletter
CARES Act Stimulus Will Permit Business Loans To Cover Payroll, Expand Unemployment
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March 31, 2020 via ConvergeBlog
Businesses struggling with the economic impact of the COVID-19 pandemic crisis received good news late last night when the Senate passed an unprecedented piece of legislation aimed at providing a massive stimulus to workplaces and employees alike. The centerpiece of the Coronavirus Aid, Relief and Economic Security (CARES) Act would allow small- and medium-sized businesses to receive federal loans – in some cases forgivable – to cover payroll and other expenses. It also expands unemployment benefits for workers impacted by the outbreak, while extending unemployment eligibility to many who are otherwise not regularly entitled to receive such benefits. While the bill is not yet law, the House is expected to approve the CARES Act by Friday and President Trump should sign it into law shortly thereafter. What do employers need to know about this significant development?
Fisher Phillips's ConvergeBlog
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Insurance Coverage for Losses and Claims Associated with the Coronavirus

March 18, 2020 via ConvergeBlog
...all potentially applicable insurance should be considered and carefully analyzed. By doing so, insureds may discover that they have substantial financial protection for their losses.
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Stress and Distress in the Hospitality Industry Due to the Coronavirus

March 23, 2020 via Foley & Lardner

The coronavirus outbreak has impacted the hospitality industry disproportionally more than other industries. For many companies, revenues have fallen off the cliff. Further, the uncertainty and likely overhang of coronavirus for the hospitality industry will continue for the foreseeable future.
Foley Gardere
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Checklist: 10 Points to Keep in Mind in Case of Temporary Closure
March 25, 2020 via eHotelier

The maxim "All we have to fear is staying" also applies to the preventive approach that hospitality leaders must implement very quickly to ensure due diligence. It is a question of reputation and, even, survival. As a result of discussions with several managers over the past few days, it is clear that the temporary closure is, for the majority of them, fiction unfortunately become reality.

Faced with this inevitable situation, here is a 10-point checklist that can help you achieve a temporary closure which, this time, is not due to seasonality.
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