Question marks hang over Delmarva economy

DOVER — After three-and-a-half months, it is readily evident that the pandemic has hurt local businesses in a big way. But, according to a Delmarva economy expert from Salisbury University, it is too early to assess their fates. “There are so many unknowns that are holding question marks over us, in terms of which businesses […]

Letter to the Editor: Your money or your life?

Dr. John Stapleford’s Commentary on how the shutdown hurts the working poor (“COVID-19 shutdown hurts the working poor,” June 8) seemed to express his great unhappiness. The lockdowns were initiated almost all over the United States, and almost all over the world, to prevent the greater and faster spread of COVID-19. Yes, the shutdowns clobbered […]

New Gordmans stores in Milford, Seaford part of bankruptcy fallout

SUSSEX COUNTY — Economic fallout from COVID-19 has claimed new Gordmans stores in Seaford and Milford, retail links in the parent Stage Stores Inc. chain that has filed for bankruptcy. Houston-based Stage announced May 11 it had filed for Chapter 11 bankruptcy, having failed to find a buyer for the chain that includes Gordmans, Peebles, […]

Letter to the Editor: Democracy: A casualty of the coronavirus

Our democracy is the greatest casualty of the coronavirus. Severe restrictions on our civil liberties have been justified as necessary to protect public health. However, the longer these restrictions last, the less likely Americans will see their democracy again. Continuous executive orders and dire predictions of disease have created a pandemic of fear, which has […]

Treasury announces record borrowing of $2.99 trillion

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WASHINGTON — The Treasury Department says it will need to borrow a record $2.99 trillion during the current April-June quarter to cover the cost of various rescue efforts dealing with the coronavirus pandemic. Treasury said Monday that the $2.99 trillion it plans to borrow this quarter will far surpass the $530 billion quarterly borrowing it […]

Letter to the Editor: ‘Check is in the mail’ doesn’t work for everyone

“The check is in the mail!?” That is really what someone on the president’s team called the fund to aid individuals and their family during this health and financial crises. How prophetic is that? The check is in the mail and here is what you, as the individual, must do to receive these almost life-saving funds. Pay […]

US economy shrank 4.8% last quarter, with worst yet to come

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WASHINGTON — The U.S. economy shrank at a 4.8% annual rate last quarter as the coronavirus pandemic shut down much of the country and began triggering a recession that will end the longest expansion on record. Yet the drop in the January-March quarter will be only a precursor of a far grimmer report to come […]

Senate approves $483B virus aid deal, sends it to House

WASHINGTON — A $483 billion coronavirus aid package flew through the Senate on Tuesday after Congress and the White House reached a deal to replenish a small-business payroll fund and provided new money for hospitals and testing. Passage was swift and unanimous, despite opposition from conservative Republicans. President Donald Trump tweeted his support, pledging to […]

Carney urges patience on reopening in Delaware, warns of grim budget outlook

DOVER — Delaware may take gradual steps toward reopening in the near future, but it’s going to take a long time before things come close to normalcy again, Gov. John Carney said Tuesday. Based on guidance from the White House, the state wants to see 28 consecutive days of declining cases before ramping the process […]

Delaware revenue estimates drop sharply amid virus epidemic

DOVER — A state panel has drastically lowered Delaware’s official government revenue estimates as the coronavirus outbreak continues to wreak havoc with the national and state economies. The Delaware Economic and Financial Advisory Council on Monday lowered its revenue estimate for this year by $416 million, or 9%, compared to its March estimate. This year’s […]