From Breakingviews: Amazon is making extra payments to employees to account for COVID-19 risk, but the e-commerce giant may want to consider ponying up more
The logo of Amazon is seen on the door of an Amazon Books retail store in New York City, U.S., February 14, 2019. REUTERS/Brendan McDermid - RC14454FE2E0AMAZONIAN STIMULUS. Jeff Bezos’ firm is reaping the benefits of consumers who prefer to have things delivered to their doorsteps. But it is a risk for employees during Covid-19. So Amazon is doling out bonuses totaling over $500 million, the company said on Monday.
Yet balancing the trade-off between sales and discounts is more important than ever. Manufacturers already needed to maximize sales of high-margin trucks and SUVs to finance the shift to electric and autonomous cars. Now they also need to pay down debt – around $16 billion apiece for Ford and GM – borrowed in case of prolonged shutdowns.
That’s bad news for the entire $10 billion college sports industry. Covid-19 is putting the lucrative college football season in jeopardy. Players returning to campuses are testing positive for Covid-19 across the country, and pigskin-crazy states like Texas and Florida are reporting record numbers of cases. If Under Armour’s weakness signals less competition between brands, eye-watering deals like that 2016 stunner will become a pre-coronavirus relic.
MASTERING THE ART OF RESTRUCTURING. The owner of the world-renowned art fair Art Basel, MCH, is cleaning up its governance in an attempt to raise up to 100 million Swiss francs, according to Swiss paper the Market NZZ. The Basel-based company is currently 49% owned by local Cantons in Switzerland and only allows other shareholders to control up to 5% of its voting rights each.
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