Hartford Business Journal

www.HartfordBusiness.com • March 23, 2020 • Hartford Business Journal 5 health crisis is to deploy all available resources to combat the virus. In terms of the economy, the bold actions that need to be taken at the federal level should be to increase dramati- cally paid sick leave to every American worker. Congress recently did that, which is a good thing. If we want workers to stay home when they or members of their house- holds are sick, we should pay them to stay home. And when this crisis is over, this is a benefit that should remain." • • • Passenger traffic at Bradley In- ternational Airport is plummeting, as major airlines cancel flights and suspend routes. Aer Lingus, which runs flights to Dublin, suspended service until at least April 15, according to Kevin Dillon, executive director of the quasi-public Connecticut Airport Authority. "Other airlines have announced varying levels of reduction," Dillon said. For example, United Airlines suspended flights to Houston until further notice, but that could change. • • • Amid Gov. Ned Lamont's restric- tions on small and large gatherings, arts organizations are scrambling to figure out how long they can survive under current circumstances. "We're in existential trouble," said Cynthia Rider, managing director of the nonprofit Hartford Stage, which seats up to 489 people in its theater at 50 Church St. Hartford Stage already canceled its current run of "Jane Eyre," and its next play, "The King's Speech," which was supposed to run March 19 to April 19, Rider said. The organization's survival largely depends on the generosity of do- nors, Rider said. • • • Greater Hartford colleges and universities — including UConn, the Connecticut State Colleges and Universities system, Trinity College, University of St. Joseph and Univer- sity of Hartford — have all moved their classes online to avoid gather- ings of small and large groups. • • • Alissa DeJonge, vice president of research at AdvanceCT, the state's economic development partner, said "the economic impact of the coronavirus will be widespread for Connecticut, as it will be for most all states across the nation." UConn economist Fred Carstensen said the biggest job growth in the state in recent years has been in hospitality and tour- ism, which will be among the hardest-hit sec- tors in the short run and whose workers — low wage, few fringe benefits — will be hurt signifi- cantly. "Right now, the biggest problem is just the massive uncertainty we face across the globe and across the na- tion," said Carstensen. • • • Farmington-based CaroGen and sci- entists from Yale have begun work on a vaccine targeting the coronavirus. The team is basing its approach on previous work done by CaroGen co-founder and scientific chairman, John Rose, in the wake of the global SARS epidemic of 2003. The corona- viruses that cause SARS and CO- VID-19 are genetically similar. • • • The Connecticut Lottery Corp. is expecting a 24% decrease in Keno sales effective immediately, which amounts to approximately $700,000 per week, according to CEO Gregory Smith. • • • Hotel operator Gary Desai, presi- dent of Berlin-based Lotus Hospital- ity Inc., said he's already reduced hours for an unspecified number of part- and full-time workers amid a major dip in occupancy. "We can't give a ballpark, but the [economic] hit has been substantial," said Desai, whose group manages several national brand hotels, in- cluding Choice Hotels International, Best Western International and Hilton Worldwide. "We are seeing declines in every segment of the business," including events. The American Hotel and Lodging Association estimates the nation's hotel industry will lose nearly four million jobs in 2020, with a year-long occupancy rate of about 30%. COPING WITH CORONAVIRUS Our products, services and team approach were designed with your growing needs in mind. Visit chelseagroton.com/growthatbusiness or call 860-448-4203 to learn how we can grow that business of yours together. We're in the business of building dreams. BUSINESS BANKING • COMMERCIAL LOANS TREASURY MANAGEMENT SOLUTIONS WE PROVIDE CT BUSINESS LEADERS WITH THE INFORMATION THEY NEED TO SUCCESSFULLY RUN THEIR BUSINESS. ARE YOU IN THE KNOW? SUBSCRIBE BY GOING TO WWW.HARTFORDBUSINESS.COM CLICK ON "SUBSCRIBE" Alissa DeJonge, Vice President of Research, AdvanceCT

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