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The Coronavirus Winners and Losers

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The Coronavirus Winners and Losers

The Hill August 16, 2020
EconomicsOther
Health PolicyOther

While the coronavirus has affected Americans, the suffering is not shared equally. The worst affected are the 167,000 victims and the over 5 million infected who might endure the difficult effects of the crisis. Also hard hit are the more than 20 million workers who lost jobs amidst the economic downturn, some of which might have now vanished forever.

More coronavirus losers are growing in number. Le Tote, which owns Lord and Taylor, plus Tailored Brands, which owns Mens Wearhouse, have each filed for bankruptcy, joining more than 40 other retailers that have filed so far this year, reported Standard and Poors Global Market Intelligence. The list contains icons such as Neiman Marcus and the Gap, as more retailers have filed for bankruptcy this year than in the last eight years.

There are some surprising coronavirus winners that have benefited, some dramatically, from the pandemic. Consider pets. Never before have dogs enjoyed such undivided attention from their owners. Vet Success, which monitors the financial health of about 2,800 veterinary clinics across the country, estimated that revenues rose 18 percent above last year. Further, Trupanion, a pet insurance provider, had a 28 percent increase in second quarter revenues over last year, reported the New York Times.

Continue reading the entire piece here at The Hill

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Judith Miller is an adjunct fellow at the Manhattan Institute, a contributing editor of City Journal, and Fox News contributor. 

Douglas Schoen is a political consultant who served as campaign adviser to Bill Clinton and Michael Bloomberg.

Photo by Justin Heiman/Getty Images

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