MONDAY, MAY 18, 2020 | IN THIS ISSUE
• UI's Tippie College of Business extends dean search
• Stay-in-place could have curbed some COVID-19 cases
• Analysis: DSM among metros expected to recover quickly
• J.C. Penney files Chapter 11 as pandemic rips through retail
• Iowa liquor sales spike as consumers change buying habits
Your day ahead: events & weather
UI’s Tippie College of Business extends dean search
University of Iowa officials have announced they will extend the search for the next dean of the Tippie College of Business to allow for on-campus visits in the fall, when it's hoped that the COVID-19 pandemic will have subsided. Although a search committee had narrowed its short list to three finalists, all of whom participated in virtual campus visits, the committee later decided in-person visits would be preferable.

Executive Vice President and Provost Montse Fuentes said that in addition to in-person visits in the fall, she would continue working to attract a diverse pool of candidates, suggesting the UI might not be satisfied with its list of (all male) finalists. A fourth finalist pulled out of the search before being identified. UI Assistant Vice President for External Relations Jeneane Beck told the Daily Iowan the search committee would determine who will be invited to campus in the fall, adding “that may include the candidates who participated in virtual campus visits this spring.”
Stay-in-place could have curbed some Iowa COVID-19 cases
Iowa might have had fewer cases of COVID-19 had Gov. Kim Reynolds issued a shelter-in-place order, according to a new study tracking the growth in cases both within the Hawkeye State and in neighboring Illinois, according to U.S. News and World Report. The University of Iowa-led study found that after Illinois implemented a stay-at-home order on March 21, case rates were slower to rise in the seven counties bordering Iowa, giving the eight Iowa counties bordering Illinois as many as 217 “excess cases” in comparison.

Rates of COVID-19 had tracked closely in the two states prior to Illinois’ stay-at-home order, but diverged by the five-day period ending April 20. “This cross-sectional study of counties along the border of Iowa and Illinois provides early evidence suggesting that issuing a stay-at-home order in Iowa while daily cases continued to increase may have helped limit the spread of COVID-19 cases,” the study's authors said in their conclusion.
Analysis: DSM among metros expected to recover quickly
Des Moines is among the metro areas most likely to recover quickly from the COVID-19 economic crash, according to a new Moody’s Analytics analysis. Researchers said they believe areas with low population density and high educational attainment are poised to leapfrog “traditional powerhouses,” the Business Record reports - although local leaders and economists warn it could be “a long slog” before the economy returns to pre-pandemic levels. The most vulnerable U.S. cities include New York City, Boston, Miami and Las Vegas, which are heavily dependent on tourism and hospitality – and crowds.
J.C. Penney files Chapter 11 as pandemic rips through retail
J.C. Penney has become the biggest retail casualty of the coronavirus pandemic to date, filing for bankruptcy protection after failing to pay interest on its $4 billion debt for two months running. The chain, with more than 800 outlets and about 85,000 employees, plans to close stores, although it hasn't released those locations or the timing of closures. Penney’s filing follows other high-profile bankruptcies this month, including J. Crew and the Neiman Marcus Group.

According to CNBC, the company’s strategy going forward involves creating two new public businesses - a new retail chain known as JCP and a real estate investment trust (REIT) to collect rent payments from its stores. Penney’s is floating a plan to sell as much as 35% of the new REIT to a third-party investor to raise money.
Iowa liquor sales spike as consumers change buying habits
Bars might have been closed for the past two months, but that hasn’t stopped Iowans from crafting plenty of cocktails at home, according to numbers released by the Iowa Alcoholic Beverages Division. Radio Iowa reports March liquor sales were up 26% over the previous year, which a spokesman attributed to changing consumer behaviors and not necessarily an increase in personal consumption. That tracks with national numbers from market research firm Nielsen showing that total alcohol sales in U.S. supermarkets have risen by more than a quarter over the past nine weeks compared to the same time frame in 2019. Wine sales led the way with a 30.1% rise, while spirits are up over 34%. Beer sales were up by 12.6%.
Your day ahead - today's events
Virtual Lunch Connections , by Iowa City Area Business Partnership, noon-1 p.m., online. Join this Zoom lunch meeting to connect with other business people in the Corridor. Free. To join the meeting, visit bit.ly/2L1U4V0 .
 
Using PPP Loan Proceeds to Maximize Forgiveness , by Nyemaster Goode, 3-4 p.m., online. Join Nyemaster Goode attorneys Rod Kubat, Eric Fischer and Dustin Miller as they discuss loan forgiveness under the CARES Act’s Paycheck Protection Program. Free. To register, visit bit.ly/2X84fx0 .
Your KCRG-TV9 First Alert Forecast

An area of low pressure is stuck swirling near us today, keeping a mostly cloudy sky around. We may also have isolated showers, although they should be fairly light and brief if any pass through your neighborhood. Highs stay cool, struggling to hit about 60. A north wind may occasionally gust over 20 mph. The mostly cloudy sky stays tomorrow although we should see highs get further into the 60s. As that slow-moving low finally gets farther east, the sky clears up some and lets highs warm. We'll be in the 70s later on this week.