Paul Tafelski - May 2020

A Time Capsule of April 6, 2020 COVID-19 in Michigan and Beyond Better Call Paul l Your Personal General Counsel n 248-451-2200


Every month, we prepare our newsletter a few weeks in advance to give ourselves plenty of time to review the articles and design leading up to publication. Unfortunately, times are changing quicker than ever. This May edition, we want to present a state of the union time capsule of April 6, 2020, which is when this cover was written. While some of us might be exhausted from COVID-19 news, I think a time capsule can be different. It can show us how far we’ve come, or how far we still have to go. I hope, from my heart to yours, that the health of our nation improves by May. If not, I want to show that I’m here with you and tuned in as a fellow Michigander and American. Here are the biggest things on our minds today. CASES INMICHIGAN On March 10, Michigan confirmed its first two cases in the state. As of April 6, we’ve had 15,718 confirmed COVID-19 cases and 617 deaths (200 of those deaths occurred over the past weekend). However, just today, Governor GretchenWhitmer said the increase in the spread of the coronavirus is slowing in the most impacted communities. “It does not mean the number is going down, but it does mean we are slowing the rate of increase,” Whitmer said in a morning press conference. This may reflect a nationwide trend. While there were 30,000 new cases of COVID-19 reported in the U.S. last Thursday — 32,100 cases on Friday, and 33,260 cases on Saturday — there were only 28,200 new cases on Sunday. The stock market has had positive reactions to this change. BIGGEST NATIONAL AND STATEWIDE CHANGES On April 1, Mayor Mike Duggan announced that 15-minute rapid testing kits are arriving and will be put into use in Detroit. President Donald Trump has announced a small-business relief program, and the Centers for Disease Control and Prevention just recommended that

500 gained 5.5%, and the Nasdaq composite advanced 5.4%. In any other time of the year, this would’ve been a massive upswing. Optimism is also increasing as New York’s cases appear to be peaking, but it seems like every investor is waiting to see what happens next. GOOD NEWS Many have risen to the challenge of helping people in need, and while the pandemic is still serious, there have been improvements worldwide. Italy’s death toll has slowed, and leaders there are looking ahead to“phase two” of fighting COVID-19. Apple is designing and shipping one million face shields per week to medical workers. And for nonmedical people wearingmasks that need an easy way to care for their masks at home, searchYouTube. The Food and Drug Administration has provided instructions on how to use rice cookers and other pressure cookers to disinfect used face masks.

people wear homemade masks to help prevent the spread of COVID-19. Up until now, people with no symptoms had been advised against wearing masks, and they are still discouraged from purchasing medical masks because of the shortages for health care workers. Locally, the TCF Center (formerly known as Cobo Hall or Cobo Center) has begun preparations to turn into a field hospital for COVID-19 patients. UNEMPLOYMENT LEAPS This weekend, we learned that in the past two weeks alone, a shocking 10 million Americans have filed for unemployment benefits. Thankfully, the new coronavirus relief bill, signed March 30, has risen to address these challenges. Experts say the success of the measures in the legislation will likely depend on the length of the crisis. THE STOCK MARKET While the rapid ups and downs of the market have been historic, the recent decrease in COVID-19 cases has boosted the market considerably. The Dow Jones Industrial Average traded 1,200 points higher, which is more than 5%, following this turn of events. The S&P

That’s it for this month’s roundup. I hope you’re feeling safe and healthy! Until next month, friends.

-Paul J. Tafel ski • | 1

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