Preparing a place of honor

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Pier 1 Closing All Stores For Good, Cites ‘New Reality, Uncertainty Of Post-COVID World’

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Pier 1 Imports has become the latest retailer knocked against the ropes by the “new reality” of online shopping and finished off by COVID-19. Nearly 60 years after its first store opened — and three months after filing for bankruptcy — the company announced Tuesday that it wants to close all retail operations “as soon as reasonably possible.” The explosion in online shopping, intense competition from larger chains and the coronavirus pandemic “are requiring us to wind down,” Robert Riesbeck, Pier 1’s chief executive and chief financial officer, said in a statement. “This decision follows months of working to identify a buyer who would continue to operate our business going forward,” Riesbeck said. Source: Pier 1 Closing All Stores For Good, Cites ‘New Reality, Uncertainty Of Post-COVID World’ The article was originally published here!
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US formally withdraws from Open Skies Treaty that bolstered European security – CNNPolitics

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(CNN)The US on Sunday formally exited the decades-old Open Skies Treaty, some six months after President Donald Trump first announced the decision, according to the State Department. The 1992 treaty allows the 34 member countries to conduct short notice, unarmed, reconnaissance flights over the other countries to collect data on their military forces and activities. The Trump administration has cited Russian restrictions on Open Skies flights as the reason why it sought to exit the treaty, accusing Moscow of imposing limits on flights near its exclave of Kaliningrad, an area between Poland and Lithuania where the Russian military maintains a robust presence. The US has also accused Russia of denying flights within 6.2 miles of the Georgia-Russia border, and denying a previously approved flight over a major Russian military exercise. Source: US formally withdraws from Open Skies Treaty that bolstered European security – CNNPolitics The article was originally published here!
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Today’s Top Stories: March 30, 2020

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Coronavirus update: 741,030 infected, up from 558,552 Friday. 35,114 deaths, up from 25,251 Friday. Fauci Estimates That 100,000 To 200,000 Americans Could Die From The Coronavirus Relevant COVID-19 stories: Liberty University Brings Back Its Students, and Coronavirus Fears, Too John Prine hospitalized with COVID-19 symptoms; family says ‘his situation is critical’ Joe Diffie, Nineties Country’s ‘Pickup Man,’ Dead at 61 From Coronavirus Economy Update: DJIA is up about 450 today, passing back into the 22,000 range. The markets are awaiting a slew of really bad news. Feels like impending DOOM. Relevant Economy stories: IMF head says global economy now in recession Mortgage bankers warn Fed mortgage purchases unbalanced market, forcing margin calls Cramer warns stock market short sellers about betting against science in coronavirus crisis Politics: Editorial : Fallout from bloated and misdirected federal stimulus package con...
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