Saturday, July 10, 2021
India Reports Over 41K Coronavirus Cases In Last 24 Hrs, Recovery Rate At 97%
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The US recorded more than 20,000 new COVID-19 cases each of the past four days as the Delta variant spreads
Scott McIntyre/For The Washington Post via Getty Images
- The last time the US had back-to-back days of over 20,000 COVID-19 cases was in May.
- The country recorded more than 20,000 daily cases for the past four days.
- Close to 48% of the population is fully vaccinated but the Delta variant is spreading quickly.
- See more stories on Insider's business page.
The US recorded more than 20,000 daily COVID-19 cases for the past four days, according to data from the Centers for Disease Control and Prevention.
The trend comes as the more transmissible Delta variant spreads across the US and is expected to become the most dominant strain, CNN reported.
The last time the US had 20,000 cases a day for several days in a row was in May.
Experts urged residents to get vaccinated to help protect themselves and their communities from the variant that could cause more severe disease.
Dr. Rochelle Walensky, Director of the CDC, and Dr. Anthony Fauci, director of the National Institute of Allergy and Infectious Diseases said pockets of the country with low vaccination rates are at the biggest risk.
"I'm concerned as this variant becomes more dominant, those select areas of the country that have a very low level of vaccination, like 30% or so, you're going to start seeing mini-surges that are localized to certain regions," Fauci told CNN.
Fauci also stressed that vaccination not only gives the recipient a high rate of protection but it also limits further mutations.
"It's so easy to get vaccinated. Viruses don't mutate if they can't replicate, and you can prevent them from replicating by vaccinating enough people so that the virus has nowhere to go," Fauci told NPR.
The White House COVID-19 Response Team has said almost all of COVID-19 hospitalizations and deaths are amongst those who are unvaccinated.
Close to 48% of all Americans are fully vaccinated with 55.4% receiving at least one dose of a vaccine, according to CDC data.
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'Directed States, UTs To Ensure Strict Compliance': Centre To Delhi HC Over Violation Of Covid Norms
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Meet 3 boat owners who make a living by renting out or chartering their vessels to customers stir-crazy from the pandemic - sometimes raking in as much as $200,000 a month
Marcel Perdomo
- Insider spoke with 3 boat owners who earn money by renting out or chartering their vessels.
- Some say business grew in the pandemic as people eager to head out saw boats as a safe way to do so.
- One boat owner told Insider he handles 75 charters a week on average, grossing $200,000 per month.
- See more stories on Insider's business page.
With summer underway, people are looking to head out on the water in greater numbers.
The pandemic has only sparked even more interest, as people looking for a break from lockdowns turned to boating. Last year, there was a 35% jump in the number of boat purchases made by first-time buyers, according to the industry publication Trade Only Today.
Insider spoke with three boat owners who derive at least part of their income from renting out or chartering these vessels.
Nijole Adler
The boat needed significant repairs, but after fixing it up to make it operational, the Chicago couple chartered it part-time while Nijole held her job in hospitality and Rimas worked as a mechanic.
"This really developed without us thinking about it," Nijole told Insider. "We just started sailing and inviting friends. Then they started inviting their friends and asking us if we could take them out maybe for a birthday or if they had guests in town. They started offering us money, and they started asking us to go out on their time. Then we decided to make a charge."
Five years ago, the Adlers decided to take the business full-time during sailing seasons.
Nijole Adler
In the off-seasons, Nijole and Rimas still work their hospitality and mechanic jobs.
They list their services on the online boat rental marketplace GetMyBoat, doing charter trips about 10 times per week on average. Their typical yearly costs include $1,600 for insurance and around $2,500 for maintenance. They also shell out $3,000 per season to moor their boat in the marina and $2,500 in the winter for storage. Other expenses include fees for their website, advertisements, and necessary licenses, among other things.
Because they're present on every charter trip, they don't sail on their own as much as they did before.Nijole Adler
"In the season, we sail so much with charters that we don't go out just us," she said. "After sailing eight hours per day, we don't just go out for a couple more hours."
In 2020, the Adlers made the most they have ever made by chartering their boat.Nijole Adler
They owe part of this success to an uptick in business from people feeling stir-crazy because of the pandemic.
"People were getting cabin fever; there was no place to go, nowhere to travel, and everybody wanted to go somewhere, so they just came locally to sail with us," she said. "Instead of going to the Caribbean, they came to Lake Michigan," she joked.
In Miami, boat captain Marcel Perdomo earns his living by doing bareboat charters, where no crew or provisions are included.
Marcel Perdomo
He owns two boats and brokers rentals for 34 other vessels owned by other captains.
Perdomo got his start in the business around four years ago, when he bought a used jet boat for $7,000.
Marcel Perdomo
He listed it for rentals on Craigslist and made around $650 a week offering up the boat for use.
"All of a sudden, people started calling; every weekend, people called, and then it was easy money," Perdomo said. "I was doing everything on my own. I didn't know anybody in the business."
Some time later, Perdomo stumbled across GetMyBoat and moved his listings there. He sold the jet boat and bought a new vessel to list on the platform.
As business took off, Perdomo quit his job selling traffic safety equipment in late 2019 to focus on the charters full-time.Marcel Perdomo
He had been making $70,000 a year in that role before leaving.
"It was pretty scary," he said. "It was a big risk."
When the pandemic struck a few months later, his usually steady list of bookings disappeared.Marcel Perdomo
"The business went down to zero," he said. "All the reservations were getting cancelled."
It wasn't long, though, before reservations started coming in again.Marcel Perdomo
Perdomo chalks this up to restlessness from being stuck at home due to COVID-19.
"Residents were tired of isolation," he said. "They couldn't go to parks, they couldn't go to beaches. So they started Googling boat rentals."
Florida's sometimes-lax approach to handling COVID-19 was another key factor in getting business booming again.Marcel Perdomo
"Having very few restrictions on COVID was the biggest thing," Perdomo said.
Even so, he says boats provided a way to have fun outdoors while safely keeping distance from other people.
"Boats can't be that close to each other," he said. "So it was a natural way of being apart."
Requests multiplied quickly, which prompted Perdomo to start brokering charters for other boat captains.Marcel Perdomo
Today, he handles roughly 300 charters each month, raking in between $50,000 and $60,000 in gross sales per week. The vessels range in size from 21 to 92 feet, with the cheapest yacht going for about $120 an hour and the priciest running a tab of $1,200 per hour.
The two Yamaha jet boats Perdomo owns generate roughly $30,000 combined each month.Marcel Perdomo
For each of the two boats, monthly costs include $1,500 for fuel, $6,000 for captains' salaries, $800 for marina slips, and $1,500 for maintenance. Insurance for his two boats runs him about $4,000 per year.
Perdomo estimates he'll gross around $2 million from charters this year. Business from GetMyBoat makes up roughly 70% of his income today, supplemented by bookings on his website and word-of-mouth referrals.
As Perdomo's operation grew, so too did his staff.
Marcel Perdomo
He now employs a handful of people in the Philippines who handle his web traffic, contracts, cancellations, and customer service. He also has a couple of salespeople working with him locally in Miami.
"It's big business right now," he said. "Going out boating is sort of like a lifestyle. When you go to Las Vegas, you go to a casino. A lot of tourists come here knowing that they're going to get on a boat."
In the UK, Poole resident Adam Dolman makes money renting out his 20-foot yacht named Skate, although he primarily works as a teacher.Adam Dolman
Dolman and his wife bought the boat for around £8,500 (about $11,800) three years ago and have been renting it ever since.
"A lot of the yachting has gone luxury, but there's still a lot of people who still just want to go sailing; they don't want it to cost a fortune, and they want to enjoy it," Dolman said. "We thought to ourselves, 'There has to be a market for that.'"
Since mid-April, the couple has rented out the boat roughly five or six times per month, charging $175 per day.Adam Dolman
They mainly advertise rentals on the online marketplace Borrow A Boat. Costs related to their yacht run the Dolmans about $3,500 per year. Last year, they broke even after business took a hit during the pandemic.
Before buying this yacht, Dolman owned a boat for the better part of two decades.Adam Dolman
This, combined with his background as a yacht skipper and a stint as a sailing instructor, means it is particularly meaningful for him to see clients find the same happiness in sailing that he has long felt.
"It's actually quite enjoyable to be able to set that up," Dolman said, noting that he loves interacting with clients and helping them see "a different side to things" out on the water.
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Fuel Price Hike: Kamal Haasan's MNM Holds Protest In Tamil Nadu, Demands Centre To Slash Rates
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Lumber prices just dropped for a 9th straight week amid slowing DIY spending
Shannon Stapleton/Reuters
- Lumber prices notch their ninth consecutive weekly loss after a brief resurgence earlier in the week.
- The price of the key building material has slid about 60% from its peak in early May.
- A shift in spending away from DIY home projects is impacting the market, says Bank of America.
- See more stories on Insider's business page.
Prices for lumber suffered another weekly loss and descended to levels not seen in roughly six months as the market contends with signs of softening demand and easing shortages.
Lumber prices on Friday fell about 4% to trade at $689 per thousand board feet. That move brought lumber below $700 for the first time since mid-January. Lumber during the holiday-shortened week had pushed higher, stoking the possibility of finding relief. But the advances proved short-lived, leading to the material notching its ninth consecutive weekly loss.
Prices have tumbled by roughly 60% since their peak of $1,670 per thousand board feet on May 7.
One potential factor in pushing lumber lower is consumers allocating funds to businesses such as those specializing in hospitality and travel as more Americans get vaccinated against COVID-19. About 48% of the population has been fully vaccinated, according to the Centers for Disease Control and Prevention.
"Our recent research … suggests a combination of high housing and wood product prices and the shift of expenditures to services in the reopening (from do-it-yourself [DIY] home projects) has negatively impacted new and repair/remodel construction expenditures," wrote Bank of America analysts on Friday.
Meanwhile, dealers and builders are likely decelerating purchases leading up to a slowdown in construction that's typical in summer months, they said. "This is especially true given long lead times - the concern being that today's order of lumber shows up at the beginning of August just as prices move down at an even stronger pace."
Signs of easing in lumber shortages have also fostered the pullback in prices. Sawmills have reportedly ramped up output after the pandemic prompted producers to stop work.
Lumber prices leapt to nearly $1,700 this year in part on a surge in demand for the building material as people stuck at home by the pandemic took up home improvement projects.
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I bought a $70 printer to return things I bought online during the pandemic - and it was my best decision yet
Katie Canales/Insider
- Online shopping surged during the pandemic, and it made me realize the value of printers.
- Some sites don't make it easy to return things, and many stores stopped accepting in-person returns.
- I bought one off Amazon and I wish I'd done it sooner.
- See more stories on Insider's business page.
I never thought I'd own a printer. Then the pandemic hit.
In my mind, it was a dusty household staple that my parents owned when I was a kid. As a 20-something living in the digital age, what need did I have for physical copies of anything?
But after a year shut inside my apartment, which followed years of already slowly growing addicted to shopping online, I got fed up. The friction involved in returning something I ordered online was too much - especially when some stores stopped accepting in-person returns for digital orders.
How many times have you lazily put off printing a return label, only for the window to close, leaving you with something that doesn't fit and your wasted money in the retailer's pockets? Be honest.
So I pulled the plug, and I bought a $70 HP DeskJet from Amazon, which came with ink cartridges, and a package of copy paper.
It's made me feel like I can rule the world, or at least lets me more easily get my money back on something I don't want.
6 out of 8 colleagues told me they didn't have a printer
Katie Canales/Insider
As a quick test, I asked my teammates on Slack if they owned a printer. Six people said they didn't, and two people said they did.
Obviously, owning a printer isn't a novelty - plenty of people do. In 2019, 62% of American households had one in fact, according to Deloitte.
But I'm likely not the only one who was driven to buy one during the pandemic when stores and offices closed and people flocked in droves to shopping online.
As Bloomberg's Tara Lachapelle noted in a mid-2020 column about a printer comeback, the surge in online shopping "brought with it the inconvenience of needing to make returns and print shipping labels. That's something office workers may have tended to do - shh! for I must whisper this part - at the office."
Deloitte estimated that the home printer market would surge 15% in 2020 to $29 billion. I took a bite out of that market last month when I bought my printer.
I can print labels from my iPhone. It's so easy.
Katie Canales/Insider
My HP DeskJet is Bluetooth-enabled, meaning I can print things wirelessly from my iPhone. The HP Smart app helped me easily set everything up and showed me how to insert the ink cartridges.
I buy most things on the internet: shoes, clothes, skincare products. And since I moved recently, I'm also buying bath mats, shower curtains, sheets, and other household items. Not everything looks good or turns out to be what I wanted.
Take, for example, a blue-green shower curtain I bought from Bed, Bath, and Beyond. It didn't make the cut, so I downloaded the return label on my iPhone and selected HP Smart as my printing option.
Then, with my handy dandy packaging tape dispenser in hand, I attached the label to the package and taped it shut.
Katie Canales/Insider
I stack the packages by the door and run them to UPS, FedEx, or USPS whenever I'm headed out.
It's worth noting that some retailers won't make you return items but will still give you your refund - Amazon has done this to me a couple of times in the past. And also, some - including Amazon - won't require you to print a return label. They'll simply ask you to take it to a carrier that will handle that for you (though sometimes for a fee).
But some retailers won't let you return certain items in-store, only online.
So at the end of the day, it's nice to have the printer in the apartment, where I can print the label and affix it to the package in one go.
The nostalgia doesn't hurt either.
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People craving adrenaline are fueling a 'major increase' in demand for extreme sports after a year at home
Yegor Aleyev\TASS via Getty Images
- Adventure-sports company Extreme told Insider that demand has surged during the pandemic.
- Some companies credit the adrenaline craze to last year's prolonged indoor confinement.
- The industry has 490 million participants worldwide, bringing in over $200 billion per year.
- See more stories on Insider's business page.
Sydney Dunham, a 20-year-old student at Colorado College, embarked on her first rock-climbing trek this January as she and her friends drove to the limestone cliffs on Shelf Road, CO.
"I fell halfway through, I really didn't think I could go any further," Dunham told Insider. "But I decided to muster all my remaining strength and give it one final go ... finishing that climb was one of the most intensely satisfying experiences of my life."
Dunham, like many others, decided to pick up a new hobby during the pandemic. Searching for a thrill beyond bread baking or crochet, she joined a bouldering gym close to her college.
"Throwing myself into climbing became a way of releasing all the built-up tension from being cooped up during the pandemic," she said. "I felt an extreme sense of excitement at just being able to try something new, especially something that pushed me as a person."
Rock climbing is just one sport fueling the adventure economy, an industry with an estimated 490 million participants. The most popular activities include ziplining, rafting, rock climbing, hot air ballooning, and sky diving.
Alistair Gosling, CEO of the adventure sports company Extreme, told Insider that he has seen a "major increase" in adventure and extreme sports around the world.
Gosling believes that the significant change in consumer demand for more adventurous activities is a result of last year's indoor confinement during the COVID-19 pandemic.
NY Zipline Canopy Adventure Tours told Insider that it has more customers than ever and typically sells out a week or two in advance. Owner Bradd Morse said the main challenge is staffing - he usually requires 70 employees but was only able to hire 28.
"Maybe people are just saying 'you know what, I'm going to check this off, I don't know how long life is here for,'" Dr. Luana Marques, an associate professor of psychiatry at Harvard Medical School, told Insider. "I think the reality of that uncertainty may push people to do more risky behaviors."
Research shows that when people arrive at a skydiving facility, they feel high levels of stress and anxiety. However, immediately after landing participants experience "peak happiness," as the brain is flooded with adrenaline and dopamine.
"Although we don't have concrete data that documents that the percent of people seeking extreme sports is higher now compared to before the pandemic, we could hypothesize that people's constant reassessing of their lives over the past year ... might lead people to want to live more in the moment and to take higher risks," Marques said.
Companies supplying the adventure-sports industry, such as GoPro, have also seen huge spikes in revenue. GoPro's May 2021 earnings show a revenue increase of 71% year-over-year, totaling $204 Million. The company's best-selling product was the Hero9 Black, a $400 action camera.
Extreme said 2020 extreme-sports equipment sales were double those of the year before, leading many stores to sell out. According to a Research Dive report, the global adventure-tourism industry is projected to more than double over the next six years.
"I appreciated the bread baking and self-reflection that came with the isolation of the pandemic," Dunham said. "But that also built up to a need to get out there and live life to its extremes."
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