Big Picture - May 2020 - 7
CORONAVIRUS VS. THE $2.2 TRILLION CARES ACT
By RILEY MCNULTY and ERIC ZIMMERMAN
As the US grapples with the impact of the coronavirus, most states have implemented strict social distancing guidelines and have shut down
large sections of their economies. The global response to COVID-19 has prompted such a sharp decline in economic activity that oil prices
have hit unprecedented lows, south of $12 a barrel for West Texas Intermediate crude. The drop-off in demand for oil is so steep that the US
is within weeks of running out of space to store it, and a trip to Starbucks now costs more than a barrel.
The US economy has not seen such a shock since the Great Depression and World War II. The damage to businesses and their
employees is stunning. Those most vulnerable are small and medium-size companies that do not have cash on hand to weather such black
swan events. To lessen the impact of the coronavirus, the CARES Act was signed into law on March 27.
To gauge the impact of the pandemic on print service providers and their perceptions of the CARES Act, Keypoint Intelligence and
Big Picture magazine surveyed PSPs from April 10 to 15. The findings of the survey reflect the stark reality of the times we are in, highlight
signs of hope, and reveal the fact that confusion over the CARES Act is common.
BIGPICTURE.NET
In 2019, these companies benefited from a strong economy. A solid majority of respondents cited that revenues were up by a respectable
six percent. However, the expectation was that revenues would be down 28 percent in the first four months of 2020. Respondents were clear
about how COVID-19 was impacting their business. Nearly 75 percent reported a significant drop-off in sales and cancelled orders. Another
40 percent stated they are running out of cash. One-third had to lay off employees. To summarize, the precipitous decline in business
activity experienced by these PSPs matches what is happening in the broader economy.
7
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Big Picture - May 2020
Table of Contents for the Digital Edition of Big Picture - May 2020
Big Picture - May 2020
Insight
Wide Angle
Upfront
Extreme Vinyl
Business + Management
Change of Course
R+D
Explorer
Big Picture - May 2020 - Big Picture - May 2020
Big Picture - May 2020 - Cover2
Big Picture - May 2020 - 1
Big Picture - May 2020 - Insight
Big Picture - May 2020 - 3
Big Picture - May 2020 - Wide Angle
Big Picture - May 2020 - 5
Big Picture - May 2020 - Upfront
Big Picture - May 2020 - 7
Big Picture - May 2020 - 8
Big Picture - May 2020 - 9
Big Picture - May 2020 - 10
Big Picture - May 2020 - 11
Big Picture - May 2020 - Extreme Vinyl
Big Picture - May 2020 - 13
Big Picture - May 2020 - Business + Management
Big Picture - May 2020 - 15
Big Picture - May 2020 - 16
Big Picture - May 2020 - 17
Big Picture - May 2020 - 18
Big Picture - May 2020 - 19
Big Picture - May 2020 - Change of Course
Big Picture - May 2020 - 21
Big Picture - May 2020 - 22
Big Picture - May 2020 - 23
Big Picture - May 2020 - 24
Big Picture - May 2020 - 25
Big Picture - May 2020 - R+D
Big Picture - May 2020 - 27
Big Picture - May 2020 - 28
Big Picture - May 2020 - 29
Big Picture - May 2020 - 30
Big Picture - May 2020 - 31
Big Picture - May 2020 - Explorer
Big Picture - May 2020 - Cover3
Big Picture - May 2020 - Cover4
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https://www.nxtbook.com/nxtbooks/STMG/bp_20160102
https://www.nxtbook.com/nxtbooks/STMG/bp_20151112
https://www.nxtbook.com/nxtbooks/STMG/bp_201510
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https://www.nxtbook.com/nxtbooks/STMG/bp_20150102
https://www.nxtbook.com/nxtbooks/STMG/bp_201411
https://www.nxtbook.com/nxtbooks/STMG/bp_201410
https://www.nxtbook.com/nxtbooks/STMG/bp_201409
https://www.nxtbook.com/nxtbooks/STMG/bp_201408
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https://www.nxtbook.com/nxtbooks/STMG/bp_20140102
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https://www.nxtbook.com/nxtbooks/STMG/bp_sourcebook1314
https://www.nxtbook.com/nxtbooks/STMG/bp_201311
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https://www.nxtbook.com/nxtbooks/STMG/bp_201309
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https://www.nxtbook.com/nxtbooks/STMG/bp_201306
https://www.nxtbook.com/nxtbooks/STMG/bp_201305
https://www.nxtbook.com/nxtbooks/STMG/bp_201304
https://www.nxtbook.com/nxtbooks/STMG/bp_201303
https://www.nxtbook.com/nxtbooks/STMG/bp_20130102
https://www.nxtbook.com/nxtbooks/STMG/bp_20121112
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