$2 Trillion Coronavirus Stimulus Package...What's in it???
The Senate Just Passed a $2 Trillion Coronavirus Stimulus Package. Here’s What's in It
Tax Aspects Of The CARES Act
A helpful article from
A nation desperate for any reason for optimism got just that on Wednesday evening, with word that Congress had finally agreed upon a stimulus package designed to reverse the devastating impact of the COVID-19 pandemic. The Senate overwhelmingly passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, and the House is set to do the same on Friday, paving the way for the President to sign the bill into law.
In addition to providing a large cash infusion to hospitals and broader access to COVID-19 testing to individuals, the CARES Act aims to boost the economy with over $2 trillion in relief, ranging from individual rebates and small business loans to increased unemployment benefits and a wide variety of tax breaks.
READ MORE
VIRTUAL EDUCATIONAL SERIES
Join IDS for our Virtual Educational Series! All webinars will be hosted on Zoom, and you must register using the links below.
TUESDAY, MARCH 24TH, 4:00 - 5:15 PM EST
Presenter: Nancy Ganzekaufer
Topic: What You Can do Now to Stay Focused and Keep Your Business Active
THURSDAY, MARCH 26TH, 1:00 - 2:15 PM EST
Presenter: Brad Clinard
Topic: Financial Design and Navigating Times of Uncertainty
In this webinar, Brad will provide an overview of how Financial Design can empower you as a successful interior designer. His passion is helping designers work towards viewing money as an abundant resource that can be approachable and even fun. However, with the challenges we are facing, he will also share some insight on navigating uncertainty and provide insight about potential impacts of the coronavirus including the Good, the Bad, and the Ugly. He will be sharing a resource for IDS members to gain clarity on their investments and provide thoughts on how to survive an economic recession.
REGISTER HERE
TUESDAY, MARCH 31ST, 1:00 - 2:15 PM EST
Presenter: Debra Scarpa
Topic: 7 Digital Changes to Help Your Business Survive and Be Better Than Before
In this webinar, Home Designer Marketing will uncover 7 action items for you to move your business online and survive during this crisis. Including: online meeting software tips, messaging in social media posts, ideas for building up your content calendar, live videos, file storage and project sharing, and how to audit your online presence. We’ll also include a couple of workbooks to take with you to help get you started. Our hope for this webinar is for you to leave with at least 1 thing you can do immediately to help your business survive and be better than it was before.
THURSDAY, APRIL 2ND, 1:00 - 2:15 PM EST
Presenter: Michelle Lynne
Topic: Managing Your Players From a Distance
TUESDAY, APRIL 14TH, 1:00 - 2:15 PM EST
Presenters: Jenna Gaidusek, Sarah Durnez and Kelly Fridline
Topic: eDesign 101
WEDNESDAY, APRIL 15TH, 1:00 - 2:15 PM EST
Presenter: Traci Connell
Topic: How To Get Back Up When Life Knocks You Down
THURSDAY, APRIL 16TH, 1:00 - 2:15 PM EST
Presenter: Yian Quach
Topic: Website Essentials to Survive an Economic Recession as an Interior Designer
In a down economy, there are fewer projects to go around. Are you doing enough to set yourself apart? In this webinar, Yian Quach will demonstrate several specific ways to elevate your website so you can attract more of your ideal clients. Since 2015, Yian has helped over 100 interior designers from those just starting out to award-winning designers published in Architectural Digest, Luxe, and more.
REGISTER HERE
IHFRA members, contact your elected leaders now
|
Meet IHFRA's New Executive Committee President, John Pinion IV
At our recent Board of Directors meeting held earlier this month, Jonathan Schulman passed the baton of President of the Executive Committee to incoming President John Pinion IV. While most members are familiar with John, we thought this brief Q&A with him would acquaint him to new members and also cast light on his vision for his presidency as well as his outlook on the coronavirus and the impact it may have on our industry
- Q: I am sure most members are familiar with you, but for the sake of our new members, give us a snapshot of you, your background and your history in the business.
JP: I have grown up in the industry. My father has been in retail, manufacturing, and now works with me as a representative. I graduated from the University of Texas School of Law and have an MBA from Thunderbird, School of Global Management. However, my first love is the furniture business. I have been on the road since 1998 and currently represent Winners Only and Lloyd Flanders.
- Q: As President of the Executive Committee here at IHFRA, tell us what your role is, what your vision is for your year in office.
JP: My role is to be a voice for representatives and oversee in conjunction with the Executive Committee and Board of Directors that their organization IHFRA is run well. Last week, my vision was to get key membership, education, and industry partnership initiatives started. All with the grand goal of making things better for representatives. This week, we are having to adapt to a world with the coronavirus. The IHFRA Office has gone remote, we are working on bettering our communication options with the introduction of a text program, social media communication plan, reworking the website, and promoting an affordable digital education program. Also, a lot of time has been spent speaking with representatives and others in the industry about how the industry and their world is changing.
- Q: You stepped into the role as IHFRA’s President of the EC just as the coronavirus broke out. How is the virus impacting your business and the business of reps in general?
JP: A lot of territories are shut down. Many stores are closed, and manufacturers are not shipping. As more states and localities enact "shutdowns" this trend will continue in the upcoming week. Many representatives will lose significant revenue, just like our stores and manufacturers. We all share the pain.
- Q: What are you doing to minimize the impact of the virus and what advice do you have for fellow reps?
JP: This is a tough and uncertain time, and a lot of people in our community are hurting. I wish I had all the answers. My only answer is to work down a priority list.
1st - Focus on you and your loved ones. These shutdowns will not last forever. Every storm runs out of the rain. However, while we are in the storm. Quarantine and stay healthy. You will be of no use to family or the industry if you are ill or worse. If you do not have six months' worth of savings, start to prioritize your spending and work with lenders for forbearance, extensions, and even forgiveness. Be proactive in taking care of you.
2nd - Lose the order pad. Reach out to your accounts and manufacturers and ask how you can help. This crisis will be temporary. But people will forever remember how treated them during this episode in our shared history.
- Q: What can IHFRA do for our members during these challenging times?
JP: In my dreams last night, I wished that IHFRA had a big piggy bank to distribute money from. Unfortunately, that is not a reality. We will be ramping up IHFRA communications of representative best practices as they deal with challenges brought on by the coronavirus. Also, if there are any government programs that help the self-employed and small businesses - we will be bringing those to light. Also, we have a dedicated IHFRA office that is open to helping in any way that we can.
- Q: IHFRA recently offered members a robust education program. Can you give us an update on the program along with any updates?
JP: We have offered an education course Sales Velocity Academy with celebrity educator Victor Antonio. Normally the course is $29.99 a month, IHFRA members can get it for $9.99 a month. I have spent two hours a week on the course for the past two months. It is a phenomenal course that truly gets you thinking about your sales process and how best to improve. Victor Antonio offers a better course than most as he focuses on credibility, honesty, and relationships as opposed to quick transactions. We are currently working on a Day of Education where members can take a few courses on us to sample the program. It is a good distraction and a way to improve your skillset from home. Stay tuned for more details.
- Q: While none of us have a crystal ball, do you see the business model changing as a result of the coronavirus? If so, how?
JP: Representatives are the glue between manufacturers and retailers. When the shutdowns are over and business resumes. Many dealers will be behind on their invoices (understandably). And our business will likely be slowed, as Americans as a whole recover from lost income. It will be up to representatives to work with manufacturers and retailers to find a path so that both can do business again. It will take some creative thinking and flexibility. If we do our job well, more stores and manufacturers will survive this pandemic.
I also see business being more digitally prepared. I think representatives, manufacturers, and representatives will be more digitally prepared for events where markets and store visits cannot happen. That has already been a focus on week one of my IHFRA Presidency, making IHFRA more digitally prepared to communicate to our membership.
- Q: What is your outlook for the remainder of the year?
JP: The hope is in our resilience and sense of community. We are a resilient industry. Our industry has overcome so much. We are a big family. We hate to see our stores, manufacturers, and fellow representatives in a bad place. I believe in a few years from now, the new people in the industry will have no idea what we have been through and gone through to repair and restore our industry. We will create our success story. As that is what representatives do best - create results in the face of adversity.
- Q: Any final thoughts you would like to share with our members?
JP: I serve you. As does everyone on the IHFRA staff, Executive Committee, and Board of Directors. Reach out to us at any time. We are here for you. Thank you for the opportunity to serve as your President.
How UPS is Responding to COVID-19
Important Updates
How we’re responding to COVID-19
From the outset, UPS has maintained delivery services except where limited by government restrictions. We have also worked in partnership with governments around the world to obtain exceptions that allow our shipments to continue in restricted areas. Further, we have actively supported customers and partners by providing in-kind transport of more than 4 million masks and other medical supplies to mainland China to address the outbreak.
For the complete article, click here.
Spring Market Postponed Until June
Spring 2020 High Point Market Postponed
Updated: 03/12/2020 6pm ET
HIGH POINT, N.C., March 12, 2020 — The High Point Market Authority has been closely monitoring the ongoing and rapidly-evolving Coronavirus (COVID-19) situation, staying in constant contact with local and state public health officials and elected officials. Heeding the public guidance offered by NC Governor Roy Cooper, and in the interest of the health and safety of our stakeholders, industry members, and local citizens, the High Point Market Authority has decided to postpone this year’s Spring Market, scheduled for April 25-29, until a later date in early June, should conditions improve.
“The decision was difficult, as any change in date could have tremendous economic repercussions on our industry and community, as well as the countless small businesses whose livelihoods rely on High Point Market, but underscores our shared concern and well-being of the citizens in our community and our industry partners,” commented Dudley Moore, Jr., chairman of the High Point Market Authority’s board of directors and president of Otto & Moore.
High Point Market has been a staple of the North Carolina economy since 1909. Throughout its long-standing history, cancellation has only occurred once when the 1942 markets were cancelled due to World War II.
“Our board of directors will continue to monitor the situation, and we will remain in communication with the proper medical and elected officials,” commented Tom Conley, president and CEO of the High Point Market Authority. “Our aim is to have a decision in early May as to if Market can occur, given the uncertainties of this rapidly evolving situation.”
For the time being, online registration will be postponed, with the plan to reopen once the new plan has been put in place.
https://www.highpointmarket.org/