research firm IBISWorld. “Our sales zoomed straight down,” says DeJoria. “We lost nearly 60% of our revenue almost instantly.”
For sure, few companies have the benefit of a billionaire owner with enough extra cash to fuel operations and avoid layoffs through times of crisis. But in DeJoria's Covid-19 strategy lies lessons on how industry leaders can use their influential positions and capital reserves to prop up a sector until the economy stabilizes.
The entire industry—which requires close, face-to-face contact, and poses a high infection risk to customers and stylists alike—was ordered shut down as the pandemic raged. To help keep these independent businesses afloat, John Paul Mitchell Systems organized Zoom calls and built online resources to help salons adapt to safety new protocols and successfully apply for PPP loans.
I came into this tweet expecting to make a sarcastic comment. I still intend to do that, but this dude paid his staff wages with his own stupendous amount of money rather than laying them off, so fair play to the guy. Super-good headline by the way, Forbes. Nailed it.
I don’t care that a freakin billionaire is having problems There are 140,000+ dead Americans on 45’s watch 43 million out of work 30% of mortgage holders won’t have $$ to pay mortgage next month E. A. T. T. H. E. R. I. C. H.
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Worker aiding preparation for federal execution tests positive for COVID-19The agency made the disclosure in court filings in response to lawsuits that have sought to halt executions scheduled to resume Monday.
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The COVID-19 Crisis Will Likely Lead To A Massive Shakeout In The Restaurant IndustryPredictions about the restaurant industry were grim even before rising coronavirus cases led to a second wave of closures. If by shake up you mean 1000's of restaurants going bankrupt and closing forever then yes You reckon? :) Find small wins - drive-thru/walk-thru, outdoor cinema restaurants, outdoor food markets/stalls like in Asia, etc. Spending hours eating and sitting is very European - look globally for wins, and you will find them!
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