Business

Richard Prisinzano of the Wharton School commented on the Small Business Administration’s approach to distributing emergency funds. “Given more time I think they would have targeted businesses more,” he said. “It’s not going swimmingly, but I don’t think our expectations should be much higher.”

Peter Cappelli of the Wharton School recommended that job applicants older than 50 assure younger managers that they’re comfortable with the power dynamic. “The big thing to keep in mind is that the person supervising you or making the hiring decision may well be younger than you are, and insecure about supervising someone with more experience,” he said. “So it is important to let them know you are OK with the role you're applying for, that you don't want their job and that you are expecting to take direction from them.”

Keith Niedermeier of the Wharton School said post-pandemic consumers will be focusing their purchases on home improvement for a while. “This will also be a new era of making your home your castle,” he said. “When people do start spending, there will be a whole new emphasis on making your home a comfortable, warm and entertaining space to be.”

Bob Chalfin of the Wharton School spoke about the mistakes small businesses can make during the pandemic. “Not being nimble, insensitive to change, and failing to realize that the crisis will abate. Think about both the short-term and long-term. Consider what you are doing so your customers will want to do business with you when this crisis is over,” he said.

Richard Prisinzano of the Wharton School said many small businesses will need government aid as quickly as possible in order to survive. “The businesses that are most in danger are the really small firms that only have a month or two of working capital,” he said.

Allison Hoffman of the Law School said giving special privileges to those with coronavirus antibodies could get the economy moving again. “From a policy perspective, it’s not especially worrisome if the rest of the population has good unemployment coverage,” she said. “It would speed economic rebuilding, which I think everyone would want, whether employed or not.”

Nancy Rothbard of the Wharton School offered advice for differentiating work hours from time-off while working at home. “You need to have your mindset reinforced by various cues,” she said. “What you’re wearing, where you’re sitting, how you’re interacting [with people], these are cues to yourself about what identity you’re enacting in that environment.”

Susan Wachter of the Wharton School spoke about the possibility of mass defaults on home mortgages due to the pandemic. “This is an unprecedented event,” she said. “The great financial crisis happened over a number of years. This is happening in a matter of months--a matter of weeks.”