Coronavirus - effects on business

[Maxie]

Has Coronavirus had any effect on your business.
I am based in Israel, 40% of our business is based on some sort of tourism.
It's still early in the year but they've banned incoming tourists from most Asian countries, Korea, Macau, China, Thailand, etc.
Italian tourists are also banned.
Any citizen  coming home from one of those countries has to go into a two week voluntary isolation.
We are already feeling a drop in business and if it carries on much longer this year is going to be a disaster, survival of the fittest.
A lot of our garments are from China, so there will also be problems with supplies.
Hopefully things will improve as the temperature goes up, if not we're in for a hell of a ride.    Good luck.

[GraphicDisorder]

Currently no affect and I think largely it would be a nothing burger if the numbers out there being reported were correct. But I think/fear they are much worse. Some are saything they think China is under reporting numbers by factors of 10-50x. That should be alarming.

[mk162]

Brandt, those are my thought exactly.  We had a talk here today about it and the chances of it effecting us directly are slim to none.  Business wise we could see a small pinch, especially if it leads to a recession.

As far as China goes though...they are flat out being dishonest about the numbers.  Think back to when they built the hospital in 10 days...how many deaths had they reported by then, I think it was less than 100.

[GoWestRob]

I'm bet people who have plans to travel to Italy or other Coronavirus hot spots will cancel or move their vacations, so I can see if affecting certain sectors.  Hopefully this can stabilize. 

Check out this website tracking the infections, it's interesting to click around -
https://gisanddata.maps.arcgis.com/apps/opsdashboard/index.html#/bda7594740fd40299423467b48e9ecf6

[GraphicDisorder]

As far as China goes though...they are flat out being dishonest about the numbers.  Think back to when they built the hospital in 10 days...how many deaths had they reported by then, I think it was less than 100.

If you really wanna see more real time info. Twitter has a good bit of people from there posting videos. #wuhanflu #chinaflu #coronavirus hash tags. Some of it will scare the snot out of you.

I think its probably much worse there than being reported. They wont even let the CDC in there to see the situation first hand.

[easyrider1340]

Keep in mind, this is related to my day job...
I will share this.  We are already seeing raw material (metals so far) sourcing issues due to (China) incoming freight restrictions.  This is affecting our component suppliers - thus the trickle down effect will be months long I expect. 

[GraphicDisorder]

Stocks are falling hard today as well. I think the world will be more serious about this in the coming days.

[im_mcguire]

We have manufactures close to wuhan (75 miles out) that have had their factories shut down since jan 19th when this was all starting.  They have told me their re opening date will be April 10th, and that is just them speculating...  I too agree that I feel China is under reporting. My sales people I talk to say it is worse than what the news is reporting.

[GraphicDisorder]

I suspect 10x is the minimum amount its being under reported.

[ABuffington]

I was headed to Honduras on Tuesday.  If would have gotten on the plane that took a symptomatic Coronavirus person to Honduras the day before.  30 minutes away from boarding the same plane she used and I felt the risk was too high and left.  A couple of hours later I get a notice from Expedia saying the next 3 legs of my trip were cancelled by Avianca.  I could have wound up stuck in El Salvador or quarantined like other passengers on one of her planes.  The message is, if you go offshore there is no guarantee you can make it back. 

[GraphicDisorder]

Cali Gov just reported 8,400 people are being monitored. Only a few hundred tests available.

[Rockers]

Well all we can do is hope for the best.

[abchung]

Very quiet here in Sydney Australia.

[DannyGruninger]

We are seeing some impacts on our business already. As most know we make a lot of own garments overseas and this has started to effect that supply chain. Also a lot of our ink comes from Asia and Europe which is also creating issues for us. IMO this is going to get really bad for a lot of people as the reporting of it is quite the joke. But in a nutshell we are already seeing some pretty big impacts on what we are doing here which is no bueno

[CBCB]

Canada is under reporting too! Scary stuff.


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