Thursday, February 25th, 2021
Third Vaccine Safe, USPS ‘Death Spiral’ & ‘Frasier’ Reboot
All the news you need in about 10 min:
This episode is brought to you by Ritual.com/newsworthy and Rothys.com/newsworthy
Story Summaries
All the news stories mentioned in today's episode are listed with links below, so you can spend as much -- or as little -- time as you want to peruse the latest happenings...
Johnson & Johnson Vaccine Analysis
It looks like the U.S. will soon have three COVID-19 vaccines available. The FDA released new data about Johnson & Johnson’s vaccine candidate. The FDA confirmed that overall, this shot is about 66% effective at preventing illness from COVID-19. The FDA also says the shot is safe. Public health experts are especially excited because this vaccine only requires one shot. The other vaccines on the market require two doses, taken weeks apart. The new one is expected to be authorized as soon as Saturday.
Read More: WaPo, AP, Reuters, FDA
First COVAX Deliveries
COVID-19 vaccines aren’t just for wealthy countries anymore. Ghana got about 600,000 doses Wednesday through the worldwide initiative known as Covax. The World Health Organization put Covax together last fall as a way to make vaccine access around the world more equal. It made its first delivery this week. Eventually, the goal is to deliver two billion free doses of COVID-19 vaccines to 92 low- and middle-income countries this year.
Read More: BBC, NY Times, Axios, UN
Biden Reverses Green Card Ban
President Biden is rolling back a Trump-era order that banned certain green card applicants from coming into the U.S. Trump issued a pause on green cards last year, saying too many Americans were unemployed during the pandemic and they shouldn’t have to compete with foreign workers in an already tough job market. However, Biden argues American industries work best when they can use talent from all around the world. So people can now once again apply for green cards to live and work in the U.S. legally.
Read More: NY Times, Axios, Reuters, Politico, White House
NY Gov Sexual Harassment Accusation
New York’s governor is accused of sexually harassing a woman who used to work for him. However, the office of Gov. Andrew Cuomo is calling the accusations “quite simply false.” Lindsey Boylan, who used to work for Cuomo as an aide, wrote an online article, accusing her former boss of kissing her against her will in 2018. At this point, there are no charges or lawsuits against the governor for this.
Read More: Politico, NBC News, WSJ, Medium
USPS Calls for Reform
Congress is now thinking about new ways to fix recent problems in the U.S. Postal Service. Postmaster General Louis DeJoy told lawmakers the mail system is on “a death spiral.” He said the USPS is losing $10 billion a year and that needs to change. He said fewer people are sending regular mail and it’s costing more to pay retired postal employees’ pensions and offer them benefits. DeJoy says he’s planning to release a new 10-year plan next month. One option he’s thrown out already is slowing down first-class mail delivery, but nothing is official yet.
Read More: NPR, ABC News, Axios, Reuters, USPS
States Pass COVID Aid
Congress is still working on the next COVID-19 relief bill and it could pass in the next month. However, some states are sick of waiting. California’s governor signed a relief package this week that includes $600 one-time payments for nearly six million people in that state. It also includes $2 billion for struggling businesses. On the other side of the country, Maryland’s governor recently signed a bill with $300 direct payments in it as well as sales tax relief for small businesses. More were passed, or are being considered, elsewhere.
Read More: AP, Axios, Business Insider
Dow Closes at Record
The Dow Jones set a new record yesterday, crossing 32,000 for the first time. Eventually, it dipped a little but still closed at another all-time high. The S&P 500 and Nasdaq both finished higher too. This is because investors got some reassurance this week from the Federal Reserve. Fed Chairman Jerome Powell recently promised the Fed will continue to support the economy. He said it’s unlikely interest rates will be raised anytime soon and he didn’t see signs of inflation getting out of control.
Read More: WSJ, Business Insider, AP
GameStop Shares Surge Again
GameStop had another huge day. The video game retailer saw its stock rise more than 100% yesterday, reminding a lot of people about last month’s stock market frenzy. The online influencer many people credit for starting the last one showed renewed interest in the stock recently. Also, this time around, there might be more at play GameStop is reportedly hoping to create an e-commerce platform. Earlier this week, the company announced it was looking for a new chief financial officer to speed up the process.
Read More: The Verge, CNBC, FOX Business
Fry’s Electronics Closes
A popular electronics chain is closing for good. We’re talking about Fry’s Electronics. It’s been around for about 36 years and tech fans love it because the chain is known for selling unique gadgets and parts. However, despite its army of loyal customers, the company says the COVID-19 pandemic has taken too much of a toll. Some point out it’s also struggled to keep up with changes in the retail industry. It’s now closing all 31 stores across nine states.
Read More: AP, The Verge, NY Times, Fry’s
Record Number of LGBTQ Americans
A growing percentage of America now identifies as something other than heterosexual. A new Gallup poll found a record 5.6% of American adults identify as LGBTQ. That’s up a full percentage point from the last survey four years ago. Young people are driving the increase. The same Gallup poll found when it comes to Generation Z, adults aged 18-23, 16% identify as LGBTQ. In older generations, like Baby Boomers, it’s 2% or less.
Read More: CBS News, WaPo, USA Today, Gallup
‘Frasier’ Revival in the Works
Another iconic American sitcom is getting a reboot. This time, it’s Frasier, which originally ran from 1993-2004. It won 37 Emmy awards over the show’s 11 seasons on NBC. Now, it’s going to return for a new run on the streaming service Paramount+. That streaming channel is set to launch next week. What’s now CBS All Access will go away and turn into Paramount+. It’s still not clear when the new Frasier will be released. However, we know the show’s original star, Kelsey Grammer, is returning to play the leading role of Dr. Frasier Crane.
Read More: The Verge, Variety, Hollywood Reporter
Thing to Know Thursday: Planning a Spring Break Trip
Airlines have recently added a lot more routes to vacation destinations since business travel is still lagging. That said, just because the flights are available now doesn't’ mean they’ll stay that way, so it’s important to leave some wiggle room in your schedule. If you do get COVID-19 or come in contact with someone who tested positive, airlines won’t automatically give you a refund. Also, several popular beach destinations, like Hawaii, Mexico, and the Caribbean, have some new rules. For example, you may need to provide a negative COVID-19 test or face a lengthy quarantine.
Read More: USA Today, Chicago Tribune, WaPo