For 139 Years, the American Red Cross has been a helping hand during uncertain times and 2020 has been no exception. Recently the organization has had its hands full, offering relief from natural disasters like wildfires in California and Hurricane Laura, amid the coronavirus pandemic.
"My heart goes out to the people that have been experiencing these back-to-back-to-back disasters," said Gail McGovern, president and CEO of The American Red Cross. "Within the last 30 days we had the derecho in the Midwest, we had wildfires in California, and now, of course, we're dealing with Hurricane Laura."
Hurricane Laura left significant devastation in its path, affecting about 700,000 homes. "It's either they're out of power or the sewage system isn't working. or the water isn't working," said McGovern. "It's very, very difficult out there."
The organization has been distributing about 45,000 meals per day throughout this hurricane relief effort.
While it is not uncommon for the Red Cross to juggle multiple disaster response efforts simultaneously, 2020 has brought the additional challenge of helping large numbers of people with COVID-19 still spreading."We're still delivering our mission despite the pandemic," said McGovern.
In addition to staff members, the aid organization relies heavily on volunteers. "I have to say that I am so proud of our volunteers because they are coming out in the same numbers that they had been pre-COVID, which is remarkable," said McGovern. "These people are humanitarians: they see a need and they just have to jump in and fill it." She noted they could still use more volunteers and there are opportunities for people to volunteer virtually.
"We're still fulfilling our mission, but the way we are doing it is completely different. Wherever possible we are trying to put people in hotels, and we're doing that so that they can social distance so that we're not in large congregate shelters where the disease can spread," said McGovern. "If we have to open up a shelter we're trying to open up multiple shelters so there are fewer people in each."
People using the shelters receive health screenings when they enter and are required to wear masks. Inside, cots are socially distanced and hand sanitizer is readily available, she added. The organization has been able to secure a large number of hotel rooms, though, so people have a safe place to go where they are not surrounded by crowds.
Donations are still needed, however. "We think Hurricane Laura is going to probably cost about $20 million dollars and so far only $2.1 million has come through the door. Any gift would be deeply, deeply appreciated regardless of the size," she noted. Donations can be made at Redcross.org.
"It's a different world and yet we're still out there helping people to the best of our ability."
Daniel Madrzykowski, research director at the UL Fire Safety Research Institute, joins Cheddar News to discuss the deadly Bronx fire that killed 19 people and fire safety tips that people need to know about.
Markets closed the day mixed, and well off their lows of the day following a market meltdown earlier in the session. The Nasdaq staged a comeback late in the day, even amid ongoing worries about the Federal Reserve raising interest rates. Doug Flynn, certified financial planner and co-founder of Flynn Zito Capito, joined Cheddar News' Closing Bell to discuss the markets' close and what's driving the major indexes.
Two companies recently announced a new partnership aimed at addressing the growing demand to borrow against crypto - digital assets capital markets firm CrossTower is partnering with commercial bank, BankProv. The companies are launching a crypto lending platform that will allow Bitcoin miners to receive loans to invest in crypto mining equipment. The companies say the program also addresses the difficulty of breaking into crypto mining due to the high cost. CrossTower research analyst Martin Gaspar joins Cheddar News' Closing Bell to discuss.
Next-gen social sports platform Break the Love recently raised $2.5 million in seed funding. Break the Love's platform and iOS app allows users to discover and book group-based tennis activities, to either learn, train, or compete. The new company has already gotten support from a few big names in the world of tennis, including the coach of Naomi Osaka, as well as the United States Tennis Association and the brand Wilson. Break the Love founder and CEO Trisha Goyal joins Cheddar News' Closing Bell to discuss.
As the Omicron variant continues to sweep across the country. The US Supreme Court is expected to hear arguments at the end of this week on whether or not the Biden administration can force private companies to vaccinate or test millions of their employees. In addition, the National Nurses United has spearheaded legal action to protect nurses and health care workers, patients, and the public while on the job. President of the National Nurses Union, Zenei Cortez, joined Cheddar to discuss more.
China's ongoing crackdown of its own entertainment industry has been raising eyebrows for once now. With the ruling Communist Party instructing media companies to boycott immoral and overly entertaining stars. But the country has gone even further. Now experts warn that this could lead to further issues such as gender-based violence. Professor at the Institute of Sociology at National Tsinghua University, Hsiu-Hua Shen, and Associate Professor of Politics at Keough School of Global Affairs at the University of Notre Dame Joshua Eisenman, joined Cheddar to discuss more.
Today marks one year since the January 6 Attack on the United States Capitol. The Country watched as supporters of then-President Trump stormed what was assumed to be the most secure building in the country in an attempt to stop the certification of the 2020 Election. Several lawmakers, including the Vice President, could be seen ducking down as they feared for their lives. Democratic Michigan Representative Dan Kildee, joined Cheddar to discuss more.
Bed Bath & Beyond delivered disappointing fiscal third-quarter results for 2022. Shares initially dove more than 9% in premarket trading on the news but finished the day up nearly 8%. Bed Bath & Beyond has been a meme-stock target for online investors in the past -- so was meme-stock mania a factor in the recent stock movement for the company? Jaime Rogozinski, the founder of the subreddit WallStreetBets, joins Cheddar News' Closing Bell for more, as his forum helped spark the meme stock phenomena. He also discussed some decentralized finance services and trends for the retail investor to watch for in 2022.
Digital medical care provider Pear Therapeutics rang the closing bell on the Nasdaq Friday and President and CEO Dr. Corey McCann, joined Cheddar to talk about how the company plans to grow the business of software-based therapeutics and how the first FDA authorized prescription digital therapeutics company will go about treating illnesses like insomnia and addiction. "These really are pieces of software. In many cases, they're apps and in the cases of our addiction products, these are based on something called cognitive behavioral therapy or CBT," he said. "These products change the patient's brain circuitry to help them be abstinent, to help them stay in treatment, and that's exactly what we see in randomized clinical trials and that's what we see in the real world." He also addressed the ongoing mental health crises brought on by the pandemic. **copy updated to remove IPO information as Pear Therapeutics went public in December**
