Five Things You Should Read

March 25, 2020

Boeing CFO says no opportunity to raise new debt and hiring during a pandemic.

Ford Joins GE, 3M to Produce Ventilators, Respirators

Reuters

Carmaker Ford Motor Co on Tuesday jumped into the emergency push by major U.S. manufacturers to produce thousands of ventilators and respirators needed to help combat the spread of the coronavirus under a partnership code-named “Project Apollo.” By joining forces with GE’s healthcare unit and 3M, Ford is taking heed of U.S. President Trump’s call for U.S. automakers to work across sectors in producing equipment needed for the pandemic.

We Have a Deal

Business Insider

Senate leaders and the White House reached a deal on a roughly $2 trillion economic stimulus as the coronavirus threatens near-term recession. While the final text of the bill has not been finalized, the bill is said to expand unemployment, provide relief for jobless Americans, and provide help to both small businesses and large businesses, money to local government, along with funds for hospitals and healthcare workers on the front lines — to the tune of more than $130 billion, according to Senate Minority Leader Chuck Schumer.

FAF Argues for CECL Compliance

Bloomberg Tax

Financial Accounting Foundation (the parent group of the FASB) Chair Kathleen Casey asked lawmakers to remove a provision from the Senate package that would let banks delay compliance with CECL accounting standard. Squashing the post-financial crisis accounting rule doesn’t address concerns about the effect the rule has on banks and their regulatory capital, said Casey, a former SEC commissioner.

Hiring During a Pandemic

CNBC

Companies are hiring from a growing pool of people who have lost jobs or been furloughed as the spread of the coronavirus halts travel and shuts down restaurants and hotels. Walmart said it’s shortened its hiring process from weeks to hours while CVS will find the candidates through virtual career fairs and vet them with virtual interviews.

Use This System to Master Working From Home

LinkedIn

VP Performance Acceleration at The Marcus Buckingham Company Amy Leschke-Kahle suggests using non-judgmental terms to share when we need to step back for a bit. Her company uses 'blue' when they need to step back and 'orange' when they step back in. Leschke-Kahle suggests establishing a 'no questions asked' rule of thumb. 'We’re grown-ups and can trust each other.'