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Companies Start Rescinding Managers' Pandemic Pay Cuts

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Companies Start Rescinding Managers' Pandemic Pay Cuts P2JW235000-8-A00100-17FFFF5178F A Patio Yo u Can How Trump Use All Winter Has Changed the Republicans OFF DUTY REVIEW WSJ THE WALL STREETJOURNAL WEEKEND ******** SATURDAY/SUNDAY,AUGUST 22 -23, 2020 ~VOL. CCLXXVI NO.45 WSJ.com HHHH $5.00 California Wages Desperate Battle Against Raging Fires Home What’s News Sales World-Wide Reach illions of dollars in fed- Lofty Beral funds earmarked forboosting nationwide Covid-19 testing remain un- Heights spent months afterCon- gressmade the money avail- able,according to HHS. A1 Pandemic, millennials Nursing homes need an aggressivefederal approach revamp market in a to the Covid-19 crisis,ac- rare bright spot for cording to recommendations from apanel convened by the U.S. economy the Trump administration. A6 BY NICOLE FRIEDMAN Thepostmaster general defended his effortstomake Home sales surgedinJuly, the USPS runmoreefficiently signalinghow the pandemic is and said the service could reshaping whereand how handle an expected surge in Americans want to liveduring mailed ballots this fall. A5 aperiod of social distancing Kremlin critic Navalnywas and working from home. being takentoGermanyfor M/REUTERS Home buyers who were re- treatment. His supportersal- LA luctanttoventureout in March lege he waspoisoned, but doc- and April when much of the EPHEN tors in Russia said they didn’t ST countrywas under lockdown find toxins in his system. A8 FURNACE: Major wildfires continued to plague California on Friday, many of them around the heavily populated SaN have returned in forcesince Francisco BayArea. One of the nearly 12,000 firefightersdeployedacross the state doused flames in Boulder Creek. A3 latespring.With the effectsof Nearly12,000 firefighters coronavirus showing little signs across California were bat- of abating,manyhome shop- tling major wildfires, pershavenew priorities fora many of them around the placetolive, or areaccelerating heavily populated SaN existing plans,brokers and Francisco Bay Area. A3 CompaniesStart Rescinding economistssay. Libya’s two rival gov- Buyersare ready to move ernments declared a farther from cities,now that cease-fire in the country’s manyworkersaren’t commut- civil war on Friday, easing Managers’ Pandemic PayCuts ing everyday.The pandemic months of tensions. A9 hasspurred some households to livecloser to family,or ActressLori Loughlin somewherethat offersmore and her husband, fashion- BY PATRICK THOMAS In the firstweeks of the pan- cording to an analysis by con- and remotelearning—can’t spacewith so much time spent designer Mossimo Giannulli, AND CHIP CUTTER demic,companies contending sulting firm Compensation Ad- work full-time forpartial pay. at home,according to people in were sentenced to prison for with government-ordered lock- visoryPartners. They also indicate an econ- the industry. their roles in the college-ad- Some companies arebegin- downs, plummeting ordersand Now, anumber of compa- omycleaving to two tracks: one “People that were in condo- missions cheating scandal. A3 ning to restorecutsthey made closed stores reasoned that cut- nies,including Walt Disney Co., wherethe livelihoods of white- miniumsare looking fortown- to managers’ salaries and bo- ting pay could staveoff greater General MotorsCo. and Yelp collar professionals in certain homes,and people in town- Business&Finance nusesinthe early,bewildering job losses.Manytargeted Inc., arerestoring executive industries have remained homes arelooking forsingle- days of the pandemic shut- higher-level executives’ com- and some white-collar worker largely intact, and another for families,” said Bob Chew, a downs,asign that some indus- pensation as asign of solidarity salaries to previous levels, lower-income workers,manyof PleaseturntopageA2 Home sales surged in tries—and their white-collar with furloughed workersearn- while othersare paring earlier whom work servicejobs in July,signaling howmuch workers—arebenefiting from ing much less. By mid-July, paycuts. At manyfirms,the hard-hit industries such as U.S. recovery gains steam the pandemic is reshaping glimmersofarecoverywhile roughly aquarter of major pub- movesreflect an acknowledg- hospitality, travel and retail. while others sputter.............. A2 whereand howAmericans millions of otherscontinue to lic companies reduced payfor ment that stressed-out work- Millions of them have lost jobs, Stock-market gains are going want to liveduring ape- endurejob and income losses. CEOs and other executives,ac- ers—manyjuggling child care PleaseturntopageA8 to fewer people......................... B1 riod of social distancing and working from home. A1 TheU.S.economy gained momentum this month as When aNursing Home Shut firms shook off the effects of the downturn, though recoveries elsewhere Down, aHusband MovedIn slowed, surveysofpurchas- ing managersindicated. A2 Some companies arebe- ginning to restorecutsthey 93-year-old Jack Eccles didn’t want to leave his wife on her own made to managers’ salaries and bonuses in the early days of pandemic shutdowns. A1 BY ANNA WILDE MATHEWS crest. For five months, he hasn’t left and has rarely seen the sun—the window in his room Jeff Wilke,aclose lieuten- When nursing homes began barring visi- faces a brick wall. ant of Amazon founder Jeff tors to keep the coronavirus out, Jack Eccles He isn’t allowed to walk around the 154- Bezoswho helped build what decided to move in. bed facility, except to Gerry’s room, where beganasasmall online book- Hillcrest Convalescent Center in Durham, he feeds her, and sometimes to the lobby, JOURNAL seller into atech titan,isre- N.C., had turned him away on March 12 where he caN see family members through tiring from the company. B1 REET when he arrived as usual to spend much of the windows. Hillcrest sometimes feels like ST David Pecker is step- the day with his wife, Gerry, who suffers a prison, he says, but he won’t move out and LL ping down as chief execu- from Alzheimer’s disease. leave Gerry until it reopens to visitors. WA tive of American Media, So he returned the next day with a suit- “We’re married. I want to be with her. THE R publisher of the National case of clothes, books, medications and his She took care of me for 70 years, and now FO Enquirer, ending an era for computer. Hillcrest had agreed to rent him a it’s my turn,” he says. UCE the supermarket tabloid. B3 single room in its assisted-living area so Thecoronavirus cut a deadly swath BR that he could care for Gerry, who is 91. PleaseturntopageA6 Palantir privately dis- Dr. Eccles, who is 93 and a longtime Bap- ANDREA closed to investorsthe extent tist pastor, remains under lockdown at Hill- Nursing homes need morehelp, panel says... A6 ‘I want to be with her,’ Jack says of Gerry,who has Alzheimer’s. of itssteep and stubborn losses ahead of along-de- layedpublic listing planned RunnersAre Still Racing forassoon as next month. B10 EXCHANGE Billions forVirus Fight TheS&P 500 and Nasdaq Marathons—InLocal Parking Lots closed at records, rising 0.3% and 0.4%, respec- iii Remain on Sidelines tively, while the Dow in- dustrials advanced 0.7%. B11 Lonely virtual races replace in-person BY SCOTT PATTERSON efforts. The funds for various events; no crowds or porta-potties AND SARAH KROUSE testing initiatives were part of NOONAN the Paycheck Protection Pro- The Democrats BY JENNIFER lEVITZ neighborhood 5Ks to the presti- Billions of dollarsinfederal gram and Health CareEn- gious Boston Marathon, and funds earmarked forboosting hancement Act. Missthe Meaning A13 Gordon Flett, adiehardrun- prompted manytotransition to nationwide Covid-19 testing The Trump administration ner,isjoining road racesalmost “virtual races.” Participantsrun remain unspent months after has takenastate-led approach everyweekend this summer in when and wherethey want Congressmade the money to testing Americans for CONTENTS Sports....................... A14 Books..................... C7-12 Style & Fashion D2-3 his hometownofWinnipeg, within certain dates.They typi- available,according to the U.S. Covid-19,dispatching funds Business News...... B3 Travel........................... D4 Canada.Absent cally track their Department of Health and Hu- and helping states procurethe Food......................... D6-7 U.S. News.... A2-3,5-7 arethe usual owntimes,then man Services. swabs and reagentsthey need Heard on Street...B12 Weather................... A14 cheering specta- send race orga- In April, Congressallocated to facilitatetesting.The strat- Obituaries............... A10 Wknd Investor....... B5 Opinion............... A11-13 World News....... A8-9 tors,the water nizersthe infor- roughly $25 billion forfederal egy, federal officials say, helps stations—eveN mation. In return, agencies and states to expand states identifyand caterto the other run- they getmedals testing, develop contact-trac- their specific needs. > ners. in the mail that ing initiatives and broaden Of the $25 billion, some Thecoronavi- they celebrate ROll CAll disease surveillance. $10.25 billion wassent to rusand restric- with other run- Whytherestill aren’t According to HHS data, states and U.S. territories in tions on large nersinonline fo- enough paper towels only about 10% to 15% of that PleaseturntopageA7 gatheringshas All downhill from here rums. totalhas been drawndown, s 2020 Dow Jones & Company, Inc. All Rights Reserved canceled in-per- Forarecent in stores. B1 meaningthe cash has been New infections decrease from son running events, from PleaseturntopageA9 spent or committedtovarious highs in July............................... A7 P2JW235000-4-A00200-1--------XA
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