Impact Archives - BusinessWest

For MGM, an Incomplete Grade

By Editorial August 18, 2021

Editorial

It seems like longer ago — as in much longer — but it was almost exactly three years to this date that the casino era officially began in this region.

MGM Springfield was opened to considerable fanfare that hot August afternoon, and why not? The nearly $1 billion project, by far the largest private-sector development this region had ever seen, was more than five years in the making, and the buildup to that day was immense. There was a parade down Main Street. Some businesses actually adjusted their hours so employees could find parking spaces downtown amid what was expected to be a huge crush of visitors to the downtown area.

The expectations were sky-high for this gleaming resort casino, but almost immediately the numbers — in terms of visitors and revenues — started coming in lower than anyone hoped or anticipated.

And then … 18 months after that grand opening, COVID-19 changed the picture in a profound way.

So here we are, three years later. And in many respects, we’re right back where we were when the parade was making its way down Main Street. We can really only look to the future and project, because there simply isn’t enough data, enough evidence, to properly access MGM’s impact on the region.

Indeed, by now, we should have had a clear picture concerning whether this huge gamble — that’s what this is — has been worth it for Springfield and the region. Instead, because of COVID, we really don’t.

We do know some things. We know that MGM is not going to magically change the neighborhood around the casino and spur large amounts of additional development. That was the hope, but it won’t be the reality — unless things change in a dramatic fashion.

A CVS was built there, and, partly because of that CVS, a Wahlburgers restaurant has opened in that area as well. But, unfortunately, most of the office buildings across Main Street from the casino and in that area remain mostly vacant, with few signs of pending development. There is hope that the transformation of property in Court Square into market-rate housing — yes, MGM is a key partner in that project — will promote other developments of that type and also bring new service businesses to the area. But thus far, we certainly haven’t seen the scope of investments that had been anticipated.

We also know that gaming itself is not going to bring more vibrancy to the downtown area — or beyond, as some had hoped, with people maybe combining trips to the casino with visits to the Basketball Hall of Fame, the Big E, or other attractions. There are some visits to area restaurants, but what we’ve observed mostly is just what many feared — that those coming to gamble are single-minded in that purpose, and they’re getting back in their cars after their time on the casino floor is over and driving home.

The biggest impact from the casino has been its special events — concerts and shows — that bring people to this area, not just for that event, but for a night or even two. Such shows help pack area restaurants and bars and, when combined with other happenings, such as Thunderbirds games, create traffic (desirable traffic) and a buzz about Springfield.

The region was starting to see more of that buzz in the months before COVID hit, but, sadly, there has been very little of it since.

But there is hope that it can return — and soon.

Hope — and expectations — were all we had when the casino opened to all that fanfare three years ago. Now, we don’t really know what to expect, largely because of the pandemic and how it has changed the landscape and will continue to change it. But there is still that hope.

The hope that this $950 million investment will fulfill all that promise and become a real economic force in the region.

Right now, if we had to grade MGM Springfield and its impact three years after the doors swung open, that grade would have to be ‘incomplete.’

Visitor Economy Takes a Hit in the Berkshires

By Joseph Bednar September 15, 2020

Berkshire County

Culture Shock

It took plenty of creativity — in the set design and elsewhere — but Berkshire Theatre Group managed to present a musical in August when no one else could.

For the folks at Berkshire Theatre Group, things were going according to plan.

A three-year sustainability plan, to be specific, developed back in 2018, said Nick Paleologos, the organization’s executive director.

“We had a checklist of things we needed to do in addition to putting on a decent artistic season in 2019, and we hit a lot of goals. As we hit 2020, we had just two or three outstanding boxes left unchecked, when all of a sudden, in mid-March, our world was turned upside down.”

Versions of that story have been told countless times not only in Massachusetts, but around the country and the world. But for the performing arts, it’s been a particularly tough stretch.

“Starting around St. Patrick’s Day, all we were doing was canceling shows and returning money; we were really in a kind of freefall,” Paleologos continued. “What initially saved us in the short term, and bought us time to figure out how to reimagine our 2020 season, was the Paycheck Protection Program. That was a lifeline, and it accomplished exactly what it was supposed to do — it allowed us to stay in business for those crucial eight weeks in the spring.”

The 2020 season — the BTG was planning eight shows in its three indoor spaces in Stockbridge and Pittsfield — was certainly about to change. “All of a sudden, we had no idea whether we’d be allowed to perform at all,” he noted.

The journey that followed, culminating in live, outdoor performances of Godspell in August and September (more on that later), was a remarkable one, but it’s hardly the robust schedule the venerable company normally puts on. Meanwhile, performing-arts destinations like Jacob’s Pillow and Tanglewood canceled their live slates completely.

It’s a story that affects more than arts patrons; it impacts no less than the entire Berkshires economy, which is so intertwined with, and dependent on, culture and tourism.

Nick Paleologos

“We hit 2020, we had just two or three outstanding boxes left unchecked, when all of a sudden, in mid-March, our world was turned upside down.”

“The visitor economy is definitely a backbone sector for us; it supports a tremendous amount of dollars in the region,” said Jonathan Butler, president and CEO of 1Berkshire, the multi-faceted agency that focuses on tourism, economic development, and business retention in Massachusetts’ westernmost county.

In fact, he noted, visitor dollars spent in the region over the years are approaching the $1 billion mark — and the presence of cultural attractions and other tourist destinations, from restaurants to ski resorts, is a major quality-of-life factor in business owners wanting to set up shop here.

“We were pretty heavily involved in the state’s reopening process — we played a key role in getting some of the museums open and fleshing out guidelines for hotels and restaurants,” Butler told BusinessWest, while 1Berkshire’s website has become an oft-updated clearinghouse of information on the region and its public-health response to COVID-19.

Due to belt-tightening everywhere, including among its strategic partners, 1Berkshire hasn’t operated with the same marketing budget it normally would. “But we have been able to raise enough money to do some things, and we’ve pivoted to a vision of the Berkshires that talks a lot about outdoor recreation, and about our museums and hotel properties that have been able to open.

“We’re talking about the Berkshires as an escape from the city,” he went on. “We’ve been trying to tell the story of the Berkshires as a place people can escape to and enjoy the outdoors. And, honestly, we’re feeling better than we were two or three months ago.”

A few success stories will do that, but stakeholders in the region are certainly hoping 2021 looks a lot different than 2020.

Out and About

Take, for example, Bousquet Mountain, which recently hired a new general manager and announced a series of renovations, including a new summit-to-base triple chairlift and a revamped snow-making system with more than 25 new snow guns, as well as new grooming equipment and a new, more accessible beginner area.

In addition, Pittsfield native and two-time Olympian Krista Schmidinger will partner with Bousquet to further the site’s youth programming, contributing to the Race Club and SnowSports School and assisting with race and school-program design, instruction, and one-on-one opportunities for young skiers. All this speaks to a resort expecting a busy season, even in the midst of COVID-19.

As for Berkshire Theatre Group, it had to fight to get a live production staged — a fight marked by creativity, not animosity. In short, the Actors Equity Assoc. wasn’t allowing any of its 59,000 unionized members to work in 2020 unless the safety of the actors could be assured.

Jonathan Butler

“We’re talking about the Berkshires as an escape from the city. We’ve been trying to tell the story of the Berkshires as a place people can escape to and enjoy the outdoors.”

“We’re an Equity company, so that puts a little crimp in our plans,” Paleologos said. To stage Godspell, Artistic Director and CEO Kate Maguire developed a 60-page manual with detailed safety protocols, including quarantining, physical distancing, and regular coronavirus testing for actors. The actors were to be kept six feet apart at all times — 10 feet when singing — with this spacing and plexiglass dividers incorporated into the set design itself.

Maguire was denied at first, “but she was relentless,” Paleologos said. “She wouldn’t take no for an answer.”

When the company and the union finally struck a deal, BTG became the only company in the entire country performing or rehearsing a musical — a major success, he noted, considering that, just weeks earlier, no one knew whether they’d have a live theater season at all, and most companies nationwide didn’t attempt one, moving instead to virtual performances only.

Meanwhile, many patrons of canceled BTG shows exchanged their tickets for future credits or donated the tickets back as contributions, as a show of support for a company — and an industry — so important to locals.

“This is not a sustainable model going forward, performing under a tent for 50 people,” Paleologos said. “But it was a miraculous success story that was totally unexpected. Our goal was just to be a beacon of hope in an otherwise dismal moment in Berkshire County.”

It’s not the only such beacon.

“It’s too soon to gauge anything in the quantitative sense, but from what I’ve heard anecdotally, in conversations with different sectors in the visitor economy, those that have reopened have done all right,” Butler said. “A lot have changed their model — some hotels have a three-night minimum because of the cleaning expenses of turning over a room, and some businesses are closed a day or two a week to focus on cleaning and sanitizing.”

Last week, Main Street Hospitality Group, which operates several hotels in the region, announced the hiring of a COVID compliance officer, or CCO, who makes monthly visits to each hotel for routine inspections and engagement with staff and leadership. A board-certified physician, the officer strictly adheres to mandates from the state and the Centers for Disease Control and Prevention, and stays informed on the latest public-health advancements in order to advise on any necessary changes to the hotels’ protocols and procedures.

“In addition to several months of strategic planning that led to our initial creation of safeguards, it is equally important to continue evaluating our health and safety practices with the CCO’s help and expertise,” said Sarah Eustis, Main Street’s CEO. “A trusted editor was needed to process the ever-changing breadth of information out there.”

Meanwhile, the hotel group has also partnered with Blue Canary, a company that trains hotels in hospital-level cleaning methods and conducts regular check-ins. Main Street’s housekeeping leaders participated in three days of intensive sessions that focused on best practices and heightened awareness. Attendants were trained in techniques that include longer cleaning times, stronger disinfectants, new cleaning tools, and identifying critical, high-touch areas that require the most attention to ensure guest health and safety.

“This new reality has impacted our housekeeping teams in a huge way,” Eustis said. “Main Street Hospitality is committed to staying at the forefront of this.”

Restaurants have had barriers to overcome as well, Butler said, especially those that depend on visitor traffic at other area attractions. “Some have been able to pivot and focus on a delivery and takeout model, while others haven’t made the transition as seamlessly, and many don’t have the square footage inside to sit too many, and if they’re not able to adapt some outdoor seats, it can be challenging.”

The soon-to-arrive colder weather will force many eateries to become more creative until the state lifts restrictions on indoor capacity — and patrons feel safe enough to eat indoors.

“We certainly understand some businesses will have to make more permanent decisions about their fate. And some businesses, unfortunately, won’t make it to the other side of this,” Butler said. “But the outdoor recreation scene has been very busy — it’s flourishing this summer, and that will continue into the fall.”

Lessons Learned

Paleologos told BusinessWest that banks did a good job easing loan terms for cultural organizations and other nonprofits in the spring, and argues that the next step would be a permanent shift in that direction.

Writing this month in Berkshire Trade & Commerce, he cited a study in Berkshire Blueprint 2.0, an economic-development plan for Berkshire County, showing that jobs in the creative industry grew at a faster pace than in any of the other sectors examined.

“In other words, cultural nonprofits are absolutely central to the Berkshire brand,” he wrote. “The profitability of other commercial industries depends heavily on the success of this county’s theatres, museums, music, and dance companies. Creating new and innovative financial products that contribute to the long-term sustainability of the nonprofit sector must become a top priority for local banks. As an example, sufficiently collateralized operating loans to nonprofits must be offered at the most favorable rates — not the least.”

Meanwhile, Butler added, bringing visitor traffic back to 2019 levels will depend largely on people’s confidence regarding safety, and the public-health metrics on that front have been very good in the Berkshires. “We’re optimistic that will continue and we’ll come out in a stronger place at the end of this.”

That said, there certainly has been a visitor footprint in the Berkshires this year, he went on.

“We won’t have hard data until 2021, and I’m certain it’s going to be down — we don’t have a lot of the key economic drivers, like Jacob’s Pillow and Tanglewood. But on the plus side, we’ve seen a lot of visitation from Eastern Mass.; they see us as the rural side of the state. We’ve had a lot of visitors from Connecticut and New York. Second homeowners have been living here since March, making their Berkshire residence more permanent during the pandemic. All those dollars circulate back into the local economy, which is a good thing.”

Any forward momentum is welcome, Paleologos added. But so much still remains in flux.

“We can’t guarantee, by the time we get to next summer, we’ll be in a situation where we’ll be able to have shows indoors again,” he said. “The good news is, having had this experience, being able to find a way to do it outdoors, maybe we could incorporate a hybrid model, under tents and indoors. A lot is up in the air at this point, depending on how fast a reliable vaccine comes on the market and how much public confidence there is at its safety and efficacy.”

He noted that the theater business goes back to an amphitheater cut into the hillside at the Parthenon 2,500 years ago — and likely before that.

“From then up to now, the bedrock of our business is people coming together in a single place to have a shared experience and to learn a little bit about what it is to be a human being,” he said. “That’s what we do.”

That’s what the Berkshires do, too, bringing people together every year for an array of activities, many of which have been curtailed in this year of COVID-19.

But the show will go on, eventually — with or without plexiglass.

Joseph Bednar can be reached at [email protected]

Businesses Deal with Growing Impact of Coronavirus

By Joseph Bednar March 17, 2020

Life in Limbo

It was becoming clear weeks ago that the novel coronavirus would have some sort of economic impact once it washed ashore in the U.S. — but it’s still not clear, and perhaps won’t be for some time, how severe and wide-ranging the damage could be, as people cancel travel plans, curtail business operations, shut down college campuses, and take any number of other actions to stay safe. It’s a fast-moving story, and one that’s only beginning.

The first confirmed cases of the novel coronavirus had barely shown up in the U.S. when some of Bob Nakosteen’s students in an online graduate economics course started dropping the course because they were dealing with a more immediate issue: supply-chain interruptions in their own companies.

“These companies have supply chains that stretch into China, and, well … the word ‘disruptive’ doesn’t even capture it,” Nakosteen said. “Those chains have been completely severed. These people are absolutely in crisis mode.

“A situation like this interacts with the ethic of lean production,” he went on. “People keep limited inventories — and that’s great as long as there’s a supply chain that’s frictionless and reliable. As soon as you get a disruption in the supply chain, which could happen because of a strike, because of a virus, for any number of reasons, there’s no inventory buffer. It doesn’t cause delayed difficulty to the firm; it causes an immediate one. And that’s what you’ve got now.”

Editor’s Note:

The coronavirus pandemic is impacting this region and its business community in ways that are far-reaching and unprecedented. Visit COVID-19 News & Updates and opt into BusinessWest Daily News to stay informed with daily updates.

More than a week has passed since we spoke with Nakosteen — a professor and chair of the Department of Operations and Information Management at Isenberg School of Management at UMass Amherst — for this story, meaning another week for the supply-chain situation for manufacturers and other companies to deteriorate.

In fact, when it comes to the economic impact of the virus that causes the respiratory illness known as COVID-19, now officially a pandemic, virtually everything has only gotten worse.

“We have to assume everything will be affected. Airlines are experiencing reduced demand, cancelling hundreds and thousands of flights,” he said, noting that reduced tourism will hit numerous sectors, from hotels and restaurants to ground transportation and convention halls, that rely on travelers.

“How many firms are curtailing business travel? The NCAA now plans to play playing games with empty stands,” he went on, a decision that became official soon after — not to mention the NBA suspending its season outright. “What happens to the people who provide parking and concessions? Now multiply that over hundreds or thousands of events that are scheduled to take place over the next couple of months. It’s going to have an economic effect.”

UMass Amherst is one of several area colleges and universities that are sending students home and will conduct remote classes only for the time being.

Nakosteen’s own campus is certainly feeling that impact. The day before BusinessWest went to press, the five campuses in the UMass system suspended in-person instruction and will transition to online course delivery, at least through early April and perhaps beyond. That followed a similar move by Amherst College, whose president, Carolyn Martin, told students the college was taking to heart the announcement by Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases, that the U.S. is past the point of totally containing COVID-19. Other area colleges have since followed suit, or are considering their options.

“While there continue to be no reported cases of the virus on our campus, we need to focus on mitigating its possible effects,” she said, using language that will no doubt be similar to the statements other colleges, in Massachusetts and across the U.S., are currently preparing. “We know that many people will travel widely during spring break, no matter how hard we try to discourage it. The risk of having hundreds of people return from their travels to the campus is too great. The best time to act in ways that slow the spread of the virus is now.”

While all travel is slowing — for example, the governors of Massachusetts and Connecticut have both curtailed out-of-state business travel by government employees, and President Trump issued a European travel ban — Don Anderson, owner of the Cruise Store in East Longmeadow, has seen vacation travel take a major hit.

“We’re a society where, when you’re growing up, you eat your meal, and then you get your dessert. Now we have a situation where people are not having their dessert — their vacation,” he told BusinessWest. “Imagine kids not going to the islands or not going to a park, to the annual parade, not going anywhere. We are a society that works our butts off, we put in overtime, so we can have our time off. To have a year with no time off, that’s not who we are. As Americans, we want our vacation, we want our escape, so we can recharge and come back and work our butts off again.”

But they’re increasingly calling off those vacations, even though Fauci told reporters last week that cruise ships, with all the precautions they’re taking (more on that later), are safe for healthy young people.

“These companies have supply chains that stretch into China, and, well … the word ‘disruptive’ doesn’t even capture it. Those chains have been completely severed. These people are absolutely in crisis mode.”

“The bottom line is, we are unintentionally punishing ourselves by not having an escape. A good portion of our customers are going on trips, but many are not,” Anderson said, adding that he expects the industry to recover after the crisis is over. “That’s what we’re all hoping. Otherwise, it’s a dire situation for the industry and even more so for the economies that travel impacts directly and indirectly, including the United States.”

For now, though, businesses of all kinds are in a sort of limbo, bearing the initial brunt of an economic storm spreading as quickly as coronavirus itself — no one really sure how severe it will get, and when it will turn around.

Sobering Education

Many companies, from small outfits with a few employees to regional giants, are grappling with similar questions about what to do if the virus threatens their workforce. On that upper end, size-wise, is MassMutual in Springfield, which has certainly talked strategy in recent days.

“MassMutual is taking appropriate action to protect the health of our employees, their families, and our community and assure the continuity of our business operations,” Laura Crisco, head of Media Relations and Strategic Communications, told BusinessWest. “This includes limiting non-essential domestic and international business travel and ensuring employees are prepared to work remotely, including proactively testing work-from-home capabilities.”

In the meantime, MassMutual is limiting non-essential guests at its offices, enhancing cleaning protocols at its facilities, and limiting large-scale meetings, she added. “We are continuously monitoring this evolving situation, reassessing our approach, and staying in close communication with our employees.”

Most importantly, Crisco said, anyone who is sick is encouraged to stay home, and the company is also communicating basic guidance on how to prevent the spread of germs, such as thorough hand washing, using hand sanitizer, covering coughs and sneezes, avoiding close contact with people who are sick, avoiding touching faces with unwashed hands, and frequently cleaning and disinfecting touched objects and surfaces.

Kevin Day, president of Florence Bank, told BusinessWest the institution has disaster plans in place for a host of circumstances, from epidemics to natural disasters, and has developed strategies for meeting basic customer needs in case staffing is reduced.

Bob Nakosteen

“As soon as you get a disruption in the supply chain, which could happen because of a strike, because of a virus, for any number of reasons, there’s no inventory buffer. It doesn’t cause delayed difficulty to the firm; it causes an immediate one.”

“We just checked with all our managers and asked, ‘are we comfortable that everyone is cross-trained enough, so that, if your area was out, we could function?’ Pretty much everyone said, ‘yes, we have the plans right here, we know exactly what we’d do.’

He understands, however, that no one can anticipate the extent of the crisis quite yet.

“It’s not like we haven’t seen challenges in the past. Whatever challenge is presented, we’ve just got to get the right people in the building together and think about how to continue to do what we do, which is open the door and serve the customers. We have those things in place,” Day said. “As it ramps up, and all of a sudden your employees start coming down with it, the escalation would get much greater, and you might have to take more draconian steps.”

‘Draconian’ might be a word some people used when they first heard about the college shutdowns, but there’s a logic behind that move.

“While at this time there are no confirmed cases of COVID-19 on our campus or in the surrounding community, we are taking these steps as a precautionary measure to protect the health and well-being of our students, faculty, and staff,” Kumble Subbaswamy, chancellor of UMass Amherst, said in a statement to students. “By reducing population density on campus, we will enable the social distancing that will mitigate the spread of the virus. There is presently no evidence that our campus is unsafe, but our transition to remote learning is intended to create a safer environment for all — for the students who return home and the faculty and staff who remain.”

He conceded that the move is a massive disruption for students and families, but said the university is committed to helping those with the greatest needs on an individual basis. Meanwhile, the Provost’s office is working with the deans to identify laboratory, studio, and capstone courses where face-to-face instruction is essential, and students in these courses will be notified whether they can return to campus after spring break.

At the same time, Martin said Amherst College will consider making exceptions for students who say it’s impossible to find another place to stay.

“It saddens us to be taking these measures,” she added. “It will be hard to give up, even temporarily, the close colloquy and individual attention that defines Amherst College, but our faculty and staff will make this change rewarding in its own way, and we will have acted in one another’s best interests.”

Elementary-, middle- and high schools may close as well, after Gov. Charlie Baker, as part of his emergency declaration last week, freed school districts from mandatory-days rules, so that they have the flexibility to make decisions on temporary closures due to coronavirus.

Specifically, the longest any school district will be required to go is its already-scheduled 185th day. No schools will be required to be in session after June 30. Schools may also disregard all attendance data for the remainder of the school year.

Reaction or Overreaction?

While some economic impacts may be inevitable, Anderson questioned whether some businesses are being hurt more than others based on, in his case, media spin that has focused on a couple of recent outbreaks on cruise ships.

“Honestly, I’m more concerned walking into the supermarket — that tomato I’m grabbing or fresh produce I’m purchasing, I don’t know how many people before me have touched it. I don’t know who’s touching the elevator button. I don’t know who entered their pin number on the debit/credit-card reader. Even when we voted, everyone who used the polling booth shared the same pens,” he said, adding quickly that election officials in East Longmeadow, where he is a Town Council member, did occasionally wipe down the voting surfaces and pens, as did other communities.

“What we do know is there’s been well over 20,000 deaths of American citizens from the flu this season alone, but I’m not seeing large, front-page stories about that,” Anderson noted. “Why aren’t there long lines out of the local CVS or Walgreens to get the flu vaccine?”

Dr. Robert Roose

“We are regularly in touch with the state Department of Health as well as monitoring guidance from the Centers for Disease Control. That’s important to ensure all of our activities are aligned with the latest data and resources.”

The key, he said, is a balanced and measured response — and for people to use healthy practices all the time. As one example, he noted the hand-washing stations at the entrance of all restaurants on cruise ships. While at least two cruise lines have temporarily suspended voyages, those still operating strictly follow those protocols.

“You have dedicated crew reminding everyone and watching so you wash your hands before going in,” he said. “It’s not something you see in stateside restaurants. But on cruise ships, you have to wash your hands. These washing stations were a consequence years ago of the norovirus impacting a small number of cruise-ship passengers. As a result, the incidences onboard ships has lowered.”

Meanwhile, U.S. Travel Assoc. President and CEO Roger Dow worried about bold moves like barring European travel. “Temporarily shutting off travel from Europe is going to exacerbate the already-heavy impact of coronavirus on the travel industry and the 15.7 million Americans whose jobs depend on travel,” Dow said in a statement.

While many businesses struggle with the economic impact of the novel coronavirus and the anxiety it’s causing among Americans, others see it as a chance to expand their services.

For example, the Springfield-based law firm Bulkley Richardson launched a COVID-19 response team last week comprised of attorneys in the areas of business, finance, employment, schools, healthcare, and cybersecurity. Understanding that each business will be affected differently, the firm noted that taking proactive measures may help minimize the risk of business interruptions, and the COVID-19 response team has developed — and posted on its website — a catalog of issues to be considered by each business owner or manager.

Meanwhile, Associated Industries of Massachusetts published an expansive guide to employment-law issues that might arise due to the virus, dealing with everything from quarantines and temporary shutdowns to remote work and employee privacy issues. That guide is available at aimnet.org/blog/the-employers-guide-to-covid-19. John Gannon, a partner with Skoler, Abbott & Presser, also answers some relevant questions in this issue.

Righting the ship if COVID-19 sparks an actual recession could be difficult, for a number of reasons, writes Annie Lowrey, who covers economic policy for the Atlantic. She notes several reasons why a coronavirus recession could be difficult to reverse in the short term, including its uncertainty, demand and supply shocks at the same time (that supply-chain issue again), political polarization in the U.S., the global nature of COVID-19, and the fact that monetary policy is near exhaustion, as the Federal Reserve has already cut rates to near-historic lows, leaving little room to maneuver in the coming months

“They really don’t have much space to cut,” Nakosteen added. “Normally when the economy runs into trouble, the Federal Reserve runs in to the rescue. The problem now is we don’t have much room to rescue.”

He also cited the psychological factor that can quickly turn economic anxiety into something worse. “People say, ‘oh my God,’ they start drawing in their tentacles, and that’s when you have a recession.”

Lives in the Balance

None of this is to suggest that the economic impacts of COVID-19 outweigh the human ones. This is, foremost, a health crisis, one the healthcare community, particularly hospitals, are bracing for.

“We have an emergency preparedness committee, but those policies are sort of general,” said Dr. Joanne Levin, medical director of Infection Prevention at Cooley Dickinson Hospital. “We’ve had a lot of incidents in the past decade — we’ve prepared for Ebola, measles, H1N1, a lot of things. But each epidemic is different in how it’s transmitted and what to watch for. With each epidemic, we have to go through the emergency preparation plan and figure things out.”

Dr. Robert Roose, chief medical officer at Mercy Medical Center, echoed that idea. “We have a standard infection-control committee and a plan that we would activate whenever we have a surge of infectious-disease patients,” he told BusinessWest. “This particular situation is rapidly evolving. We are regularly in touch with the state Department of Health as well as monitoring guidance from the Centers for Disease Control. That’s important to ensure all of our activities are aligned with the latest data and resources.”

Meanwhile, the state Department of Public Health (DPH) continues to offer guidance to the public at www.mass.gov/2019coronavirus. It’s also urging older adults and those with health issues to avoid large crowds and events, while individuals who live in households with vulnerable people, like elderly parents, should also consider avoiding crowds. The DPH is also issuing guidance to long-term-care facilities, where sick visitors could endanger dozens of people very quickly.

Still, coronavirus is also an economic story, one with a plot that’s only beginning to take shape. It also may be a long story, with no end in sight.

“We’re in a position where we don’t know exactly what’s going to happen, but we can speculate on what parts of the economy are going to be affected,” Nakosteen said. “We’re all watching it play out without a whole lot of idea how it will play out.”

Joseph Bednar can be reached at [email protected]

Women Make an Impact in Many Ways

By Editorial October 29, 2019

Opinion

Editorial

When BusinessWest decided a few years back to create a new recognition program to honor women in this region, the next big decision involved assigning a name to this initiative.

‘Women in Business’ would have been the obvious choice, and publications with similar missions and audiences have gone that route. But that would be short-sighted, and it would leave out a good number of women who are making a real difference in this community.

‘Women Leaders’ is another option, and it would certainly work, because these are the individuals that this program was created to identify — and celebrate.

But we chose ‘Women of Impact’ for a reason. When we hear that word ‘impact,’ we think of people who are influencing this region in some way, creating positive change, improving quality of life, and moving the needle on many of the important issues facing society. And while doing that, they may also be very successful in business as well.

We also chose ‘Women of Impact’ because there are countless ways to make an impact in this region — each one of them important in its own way. It was and is our desire to show the variety of ways that people, and especially women, can be impactful. We were quite successful with this assignment in our first year, 2018, and we can say the same for the class of 2019. The stories for this year’s class are unique:

• Tricia Canavan, president of United Personnel, is a highly successful businesswoman, but she is having an impact in many ways, especially in her various efforts to help ensure that individuals possess the skills they need to succeed in the workplace;

• Carol Moore Cutting, president, CEO, and general manager of Cutting Edge Broadcasting, is also a successful businesswoman and a role model for women of color across the region. She also epitomizes the hard work, sacrifice, and the ability to overcome adversity that is necessary to succeed in business — and in life;

• Jean Deliso, principal with Deliso Financial Services, is also a successful business owner and has spent her career helping individuals, and especially women, become empowered when it comes to financial planning and securing a solid future;

• Ellen Freyman is an accomplished business lawyer, but she would be the first to tell you the biggest impact she is making concerns helping others, especially women and minorities, get involved in their communities and make an impact themselves.

• Mary Hurley has been a life-long public servant and has made an impact at every stop in her career — as a lawyer, a Springfield city councilor, mayor of the city, District Court judge, and, most recently, as governor’s councilor. At each stop, she has impacted lives in countless ways;

• Lydia Martinez-Alvarez, assistant superintendent of schools in Springfield and the first Hispanic woman to hold that post, is being impactful in many ways, from helping to ensure students can succeed in the workplace after they accept their diplomas to serving as a role model for young women, and especially Hispanic women;

• Suzanne Parker, executive director of Girls Inc., has transformed that agency into a powerful force when it comes to empowering young women and enabling them to seize career opportunities. As a mother and master of the art of balancing life and work, she is also a role model to those girls across the region; and

• Kate Putnam, managing director of Golden Seeds and a successful businesswomen in her own right, is making an impact in several ways, but especially in her efforts to mentor entrepreneurs, and especially women entrepreneurs, helping them attain much-needed capital and grow this region’s entrepreneurship ecosystem.

Eight stories. Far more than eight ways to have an impact on this region and the people who call it home. This is why we created a new recognition program and why we chose this name. And that’s also why the class of 2019 is worthy of celebration.

For MGM, an Incomplete Grade

Editorial

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