Pangaea Logistics Solutions Ltd. Q4 adjusted earnings Inline With Estimates
Below are the earnings highlights for Pangaea Logistics Solutions Ltd. (PANL):
-Earnings: -$4.40 million in Q4 vs. -$0.617 million in the same period last year.
-EPS: -$0.10 in Q4 vs. -$0.01 in the same period last year.
-Excluding items, Pangaea Logistics Solutions Ltd. reported adjusted earnings of $4.39 million or $0.10 per share for the period.
-Analysts projected $0.10 per share
-Revenue: $130.48 million in Q4 vs. $101.83 million in the same period last year.
Missing teen last seen in Winnipeg’s Point Douglas neighbourhood
Winnipeg police are asking for the public’s help finding a missing teen.
Michelle Grozelle, 17, was last seen in the Point Douglas area on the evening of March 16.
Grozelle is 5’6” tall with a thin build and brownish-red long hair past her shoulders. She was last seen wearing a black and white sweater, blue jeans, and a pink tank top, according to police.
Anyone with information on Grozelle’s whereabouts should call the Winnipeg police missing persons unit at 204-986-6250.
2020 Memorial Cup, CHL playoffs cancelled due to coronavirus pandemic
The 2020 Memorial Cup has been cancelled because of the COVID-19 pandemic.
It marks the first time in 102 years there will be no showdown to determine Canada’s major junior hockey champion.
Former Canadian Olympic sailor weights in on COC’s decision on Tokyo
The Canadian Olympic Committee says it will not send a team to the Tokyo Games unless they are postponed for a year.
Canada is the first country to threaten such a move in the face of the coronavirus pandemic.
“It’s the right thing to do, I think there’s no question about that,” said John Curtis, a former Canadian Olympic sailer. He and Oskar Johansson took part in the 2004 Athens games.
Virus Hurting Business at Three-Fourths of Small U.S. Companies
More than three-quarters of small businesses in the U.S. have been hurt by the coronavirus outbreak, according to a National Federation of Independent Business survey conducted Friday.
That was up from a fifth of those firms surveyed March 9-10, the NFIB said Monday. The latest survey of 700 businesses with 360 or fewer employees showed that one-fifth aren’t affected by the outbreak now, but 77% of those anticipate that will change should the outbreak spread to their immediate area, or more broadly in it, over the next three months, the organization said.
“Owners are taking the threat to their business seriously,” the group said in a statement. “Many owners have already sought out financial help and more are planning to do so in the near future. The outbreak will leave few, if any, owners unscathed. We know the economic impact will be immense.”
A majority either are already talking or plan to talk with their bank or search for loan assistance, according to NFIB’s survey of a random sample of its member database of about 300,000 small business owners.
Modell’s Halts Liquidation Because Shoppers Can’t Go Shopping
Modell’s Sporting Goods Inc. halted its going-out-of-business sales as customers shelter at home and states order most merchants to close.
The bankrupt retailer stopped liquidation sales and closed all stores as of March 21, Chief Executive Officer Mitchell Modell said in an interview. It plans to resume once the bans are lifted, he said.
Retailers arepausing store-closing sales as a growing number of states and cities mandate that non-essential merchants shut down and tell residents to stay home to slow the spread of coronavirus. That’s creating uncertainty for creditors at bankrupt companies like Modell’s, which sought court protection earlier this month and said it would shut all of its 153 locations.
The retailer has been in discussions with its landlords throughout thebankruptcy process over whether it can forgo certain rent payments and is still deciding what course to take, Modell said.
For companies selling seasonal goods and fashion apparel, liquidation delays can mean merchandise loses much of its value.
That’s been less of an issue for Modell’s, according to its CEO, who said sales until the shutdown “were off the charts” during the first three weeks of the liquidation.
Trump Postpones Real ID Requirements Due to Virus Concerns
President Donald Trump said Monday he was delaying the Oct. 1, 2020, deadline for Americans to get a Real ID to travel, as part of an effort to limit people’s exposure to the coronavirus.
“I’m also announcing that we’re postponing the deadline for compliance with Real ID requirements,” he said at a White House briefing. “At a time when we’re asking Americans to maintain social distancing, we do not want to require people to go with their local DMV. We will be announcing the new deadline very soon.”
A Real ID-compliant identification will eventually be required to board a domestic flight or enter a federal building in the U.S..
Several lawmakers have requested the delay in recent days, citing challenges stemming from the coronavirus.
Last week, House Transportation and Infrastructure Committee Chairman Peter DeFazio of Oregon and Homeland Security Committee Chairman Bennie Thompson of Mississippi said it was “foolish” to ask people to wait for hours in a crowded waiting room.
“For implementation to go smoothly, DHS would need tens of millions of Americans to get new identifications over the next several months,” they said in a statement. “Creating lines at Departments of Motor Vehicles would be foolish during a pandemic.”
The Department of Homeland Security didn’t immediately respond to a request for comment.