☕️ Marlins men

Is the baseball season in jeopardy? July 28, 2020 [View Online]( | [Sign Up]( [Daily Brew]( TOGETHER WITH [BOARDEFFECT]( Good morning. You know what we haven’t done in a while? Give away free computers. The Brew’s MacBook Pro giveaway is back and better than ever, which is to say the same as ever, which is to say stop with the theatrics and just give us the laptops already. How it works: - When you share the Brew today using your unique referral link, you get entered into a raffle to win a MacBook Pro. - If you win a computer, we'll select someone you referred to win one, too. And the more you share, the better chance you have (1 referral = 1 ticket). [Start sharing here](. MARKETS NASDAQ 10,536.27 + 1.67% S&P 3,239.51 + 0.74% DJIA 26,586.15 + 0.44% GOLD 1,930.90 + 1.76% 10-YR 0.604% + 1.30 bps OIL 41.61 + 0.78% *As of market close - Economy: Senate Republicans released their $1 trillion emergency relief package, and since you have to brand everything these days, they called it the [HEALS Act](. It contains another round of $1,200 in direct payments and reduced additional unemployment benefits from the current $600/week. Keep in mind, it’s just a starting point for negotiations with Democrats. - Coronavirus: Infections appear to be [slowing]( in a few key states that have experienced major outbreaks: California, Florida, and Arizona. - Currency: The U.S. dollar [fell]( to a two-year low yesterday. It’s tough to know what to make of that relative to stocks, which have been gaining as the dollar has dropped, but it likely means investors are less bullish on the U.S. economy than other countries. TECH [Google’s Gonna Give It a Year]( [Google logo on a couch] Francis Scialabba Google is letting employees [remain remote]( until July 2021, a decision that will affect ~200,000 full-time and contract workers. - Besides saving a small fortune on KIND Bars, CEO Sundar Pichai wanted to provide flexibility for working parents who may need to provide childcare this fall, and relocating employees who want to sign full-year leases in their mountain/beach town of choice. Twitter and Facebook committed to a more permanent remote workforce months ago, but Google is the first major company to extend its WFH timeline due to the resurgence in cases. And it won’t be the last. Bad news for business districts While NYC reopened offices for nonessential workers a month ago, fewer than 10% of Manhattan button-ups [are back](, per the WSJ. That emptiness feels especially profound in districts [like Midtown](, where offices that once welcomed 8,000 people/day now host just 500. - And when workers are home...they’re not spending money at Potbelly after giving up on the Sweetgreen line. About a fourth of New York's office employers plan on reducing their office footprint by 20% or more, according to a Partnership for New York City study. Big cities’ losses could be a gain for small cities that have historically taken longer to recover from downturns. Still, don’t bank on a mass exodus. Most office leases are 8+ years, and many employers are trying hybrid approaches where employees still come in a couple days a week. - A tempting alternative: According to the WSJ, video communications company OpenExchange is [renting a house]( in the English countryside for its European employees to live and work out of. Cracks in the remote model While many companies went remote relatively smoothly, some execs are feeling cool about it long-term.  Hiring and onboarding are more choppy. Company values are harder to instill remotely. Young employees are missing out on development and mentorship. And Justin has completely given up on hiding his pen during Zoom meetings. - Remote work also makes it more difficult for employers to root out bad behavior and ensure client confidentiality. Looking ahead…other companies’ decisions could turn on the status of school reopenings and how quickly the recent spike in COVID-19 cases subsides. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=Google%20Extends%20Remote%20Policy%20Through%20July%202021:%200A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%E2%80%94Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley,%20daily.%20 GRAB BAG [What’s Up, What’s Down]( Up Operation Warp Speed: Yesterday, biotech company Moderna and the National Institutes of Health began one of the [first large studies](cnn.com/2020/07/27/health/coronavirus-vaccine-trial-begins-moderna-phase-3/index.html?utm_source=morning_brew) of a coronavirus vaccine in the U.S. They plan to eventually enroll 30,000 people at nearly 100 sites; the results could come by November. Precious metals: Gold futures hit an [all-time high]( and silver notched its highest level in seven years. What’s it mean? Not clear, because stocks are also gaining (and gold is considered a safe haven from riskier assets like stocks). Down House protection: Under Armour said it [received]( a “Wells notice” from the Securities and Exchange Commission. That is not a get well card—it means the regulator plans to bring enforcement action against the company for its accounting and sales practices from 2015–2016, which are already under investigation. Toy stories: Hasbro reported a [29% decrease in revenue]( last quarter due to store closures, the delay of blockbuster movie releases, and other coronavirus-related challenges. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=What%E2%80%99s%20Up,%20What%E2%80%99s%20Down:%20Gold%20and%20Toy%20Sales%20Trending%20in%20Different%20Directions:%200A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%E2%80%94Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley,%20daily.%20 SPORTS [Baseball Makes an Error]( [Phillie Phanatic] Hunter Martin/Getty Images The Miami Marlins’ home opener, slated to be played last night, was [postponed]( after at least 13 players and staff were infected with COVID-19. The Phillies/Yankees game was also postponed. What happened: Before the Marlins played the Phillies in Philadelphia on Sunday, a few Marlins players tested positive for COVID-19. Instead of canceling the rest of the series, Marlins players decided [via a text group chat]( to play their upcoming game. - Sounds like something that would be against the rules, but the MLB’s 113-page operations manual actually [leaves it up to the teams]( to decide what to do in the event of multiple positive tests. The consequences Best case scenario: The infected Marlins personnel enter quarantine and prevent a league-wide health crisis. Worst case scenario: The virus jumps from team to team (or has already) and the MLB is forced to [cancel the season](. Which could put Nap Lajoie's single-season record of a .426 batting average in serious jeopardy. Bottom line: Unlike the NBA, NWSL, and other leagues, MLB rejected the idea of playing in a self-contained “bubble.” The NFL, which is expected to adopt a similar approach to MLB, [will be watching]( baseball’s next steps very closely. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=Two%20Baseball%20Games%20Canceled%20Over%20COVID-19%20Outbreak%20Among%20Marlins:%200A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%E2%80%94Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley,%20daily.%20 SPONSORED BY BOARDEFFECT [You’ll](#) [BOARDEFFECT]( If you’re on a board, chair a board, or help organize board meetings, the following will make your heart flutter. [BoardEffect’s]( sophisticated board portal provides leaders all the data and insights they need for effective governance, while ensuring advanced cybersecurity protection. Download their [Buyer’s Guide]( and consider: - How board portal vendors measure up against each other - Features providers should offer to meet your specific goals - Levels of training, support, implementation, adoption, and customer support Boards have ever-growing needs at a time when board governance is changing and expanding digitally—and not all software on the market is alike. See what BoardEffect can do for your board. [Download the guide today](. COVID-19 [Gym Owners vs. New Jersey Ends in Cuffs]( [Bellmawr gym weightlifting ] Mark Makela/Getty Images The anti-work-out-from-home New Jersey gym owners Ian Smith and Frank Trumbetti were arrested yesterday after [violating]( Governor Phil Murphy’s measures limiting the operations of certain nonessential businesses like gyms.  There's a reason we're writing about this particular location. Smith and Trumbetti have become [national figures]( in the battle between some small business owners and state officials over lockdown measures. They’ve made multiple appearances on Fox News to defend their decision to operate their gym despite restrictions. - “Welcome to America 2020, where feeding your family and standing up for your constitutional rights is illegal,” a [Facebook post]( from the gym read yesterday. Zoom out: The state of the fitness industry = not very fit. Subscription fitness platform Classpass said it lost [95% of its revenue]( in April, while iconic franchises Gold’s Gym and 24 Hour Fitness filed for bankruptcy during the pandemic. Governor Murphy recently allowed one-on-one training and some classes including pilates and yoga to resume, but is still keeping gyms closed. �  �  �  mailto:?subject=Check%20out%20this%20story%20from%20Morning%20Brew!&body=New%20Jersey%20Gym%20Owners%20Arrested%20After%20Defying%20State%20Health%20Mandate:%200A%0AWant%20more%20great%20content%3F%20Subscribe%20to%20Daily%20Brew%E2%80%94Delivering%20the%20latest%20business%20news%20from%20Wall%20St.%20to%20Silicon%20Valley,%20daily.%20 ANTITRUST [Facebook’s Social Media Stronghold](#) [Facebook in the antitrust spotlight] Francis Scialabba The Brew is previewing tomorrow's antitrust hearing by profiling each Big Tech company at the table. Last but not least... Company: Facebook Volunteered as tribute: CEO Mark Zuckerberg The charges: Among many, regulators are concerned that Facebook’s repeated acquire-or-copy approach to up-and-comers in the social media space is stifling competition and limiting consumer choice. The rebuttal: You're going after the wrong social media company, Congress. Facebook is actually a true American success story and the real threat is encroaching Chinese tech firms (see: ByteDance's TikTok). [Read the full story]( of Zuck vs. antitrust regulators. GIVEAWAY [Time For a New Computer?]( [smashing a computer] Giphy Before you go out and spend money on one, try entering our giveaway for a MacBook Pro first. The details: When you [share the the Brew]( today, you’ll have a chance to win a brand new MacBook Pro for you and someone who signs up because of you. Even more detail: Each time you refer a friend, family member, or coworker to Morning Brew, you'll get a ticket entered into a raffle for one of two MacBook Pros. 1 referral = 1 ticket. - If you win a computer, we'll select someone you referred to win one, too. How to start: Click the share button below to grab your unique referral link. Then, tell everyone you know that they can 1) read business news that makes you smile even during a pandemic and 2) have a chance to win a new computer. [Share to Win]( Or copy & paste your referral link to others: [morningbrew.com/daily/r/?kid=4904f90a]( WHAT ELSE IS BREWING - [Tinder]( has a new CEO: former head of CBS Interactive Jim Lanzone. - [Christopher Nolan’s Tenet]( will debut internationally Aug. 26 and open in some U.S. cities over Labor Day weekend. But with this film, you never really know. - [Target]( and Dick’s are following Walmart’s lead and closing stores on Thanksgiving. - [Garmin](, the fitness tech company, said its systems are slowly coming back online after it was hit with a cyberattack last week. - [Two Republican senators]( now oppose the nomination of Judy Shelton to the Federal Reserve’s board of governors. - [DJ D-Sol]( opened for the Chainsmokers at a drive-in concert in the Hamptons last weekend. Why are we telling you this? D-Sol is the CEO of Goldman Sachs, David Solomon. SPONSORED BY THE WALL STREET JOURNAL [The Wall Street Journal]( See if your university sponsors a WSJ membership. [The Wall Street Journal]( partners with universities across the country to provide school-sponsored memberships to students, faculty, and staff. Whether it’s in-depth analysis of national moments or up-to-date news on how campuses are handling COVID-19, stay informed this summer and prepare for your future with accurate and thorough reporting on the topics that matter to you. [Check if your university sponsors a membership today](. BREWS BETS Live at 1pm ET: Virgin Galactic is making the most exciting interior design announcement...ever? [Tune in here]( to see the inside of their spaceship cabins. Tech Tip Tuesday: Map apps have been updated to reflect all the ways going outside has changed during a pandemic. [Here’s how to use]( the latest updates from Apple and Google. On our watch list: - A documentary about the [untold epilogues]( of Olympic gold medal winners (released tomorrow) - Unsolved Mysteries [investigates]( a finance newsletter tragedy - A series about [hand-crafted products]( with Anthony Bourdain - Here are [50 more]( good movies on Netflix. COMMODITIES TRIVIA With gold in the news, it’s time to test your knowledge of traded commodities. So here’s the deal: We’ll give you the commodity, you have to figure out its standard unit of measurement when traded. Ex. Soybeans are traded in bushels Sorry in advance, this is hard. But at least you’ll learn something? - Let’s start off with gold - Brent crude oil - Chicago wheat - Zinc - Ethanol SHARE THE BREW Giveaway: Share the Brew for a chance to win a MacBook Pro. [Click here to get free swag.]( Here's a message you can copy and paste to share with your friends: Hey! Do you read Morning Brew? It's an awesome daily newsletter that covers the must-read business news in 5 minutes. They're running a giveaway today so if you sign up using my link, we're both entered to win a MacBook Pro. Sign up here—it's free: [morningbrew.com/daily/r/?kid=4904f90a]( [Share to Win]( COMMODITIES TRIVIA ANSWER - Gold = troy ounce - Brent crude oil = barrel - Chicago wheat = bushel - Zinc = metric ton - Ethanol = gallon             Written by [Neal Freyman](, [Jamie Wilde](, [Toby Howell](, and [Alex Hickey]( Was this email forwarded to you? Sign up [here](. WANT MORE BREW?  Retail newsletter → [Retail Brew](  Tech newsletter → [Emerging Tech Brew](  Marketing newsletter → [Marketing Brew](  Quarantine newsletter → [The Essentials](  Business podcast → [Business Casual]( [ADVERTISE]( // [CAREERS]( // [SHOP]( Update your email preferences or unsubscribe [here](. View our privacy policy [here](. Copyright ©2020 Morning Brew. All rights reserved. 40 Exchange Pl., Suite #300, New York, NY 10005