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Philly Fighting COVID’s red flags | Morning Newsletter

Plus, what happened in the stock market from a business reporter.

    by Lauren Aguirre
    Published 

    The Morning Newsletter

    Start your day with the Philly news you need and the stories you want all in one easy-to-read newsletter

Philly Fighting COVID has gotten national attention for mishandling vaccine distribution after the City of Philadelphia cut ties with the organization. PFC, it turned out, had a for-profit arm. Then, CEO Andrei Doroshin admitted to taking doses and administering them to his friends. Now, experts are concerned that this entire situation could be fueling mistrust in medicine, especially in Black and brown communities, at a time where it’s most needed.

Here’s the full story on how it was full of red flags from the start.

And this week, I asked business reporter Erin Arvedlund about what the heck happened with the stock market and Gamestop shares this week, and how she covers personal finance, too.

— Lauren Aguirre (@laurencaguirre, morningnewsletter@inquirer.com)

The week ahead

  1. It’s the last day of January, and it’s increasingly likely that Philly could have snow. Forecasters are seeing up to 13 inches and 45 mph winds, starting this afternoon and continuing into Tuesday.

  2. Experts are concerned Philly Fighting COVID’s handling of vaccine distribution is fueling mistrust in medicine, especially for Black and brown communities. Philadelphia cut ties with the group after discovering it had failed to disclose its for-profit arm. Here’s what to know about your data if you signed up for a vaccine with PFC. And here’s how it happened.

  3. A four-alarm fire damaged the Ocean City boardwalk on Saturday morning, and owners of Playland’s Castaway Cove have vowed to rebuild.

  4. Teachers are wary and parents are split over Philadelphia’s third attempt at reopening the district’s schools, which are preparing to go back to in-person learning in late February.

  5. If you’re curious about how safe in-person classes can be when it comes to the spread of COVID-19 in the area, my colleagues Jason Laughlin and Maddie Hanna examined the local data.

  6. After 45 years in prison, Bruce Norris was approved to be released by the parole board. But while waiting well over a month for Gov. Tom Wolf to sign off, Norris contracted COVID-19 and died.

This week’s most popular stories

  1. ShopRite pharmacies shut: ‘We thought we would be getting COVID vaccines here. And they told us we were all fired.’

  2. John Chaney, legendary Temple University basketball coach, dies at 89

  3. CBS puts two execs on leave after report alleging racist, sexist behavior involving Philly’s CBS3

  4. Family of four found dead in murder-suicide in Chester County, police say

  5. Winter weather advisory and freezing rain in the suburbs, but snow continues to elude Philly

Behind the story with Erin Arvedlund

Each week we go behind the scenes with one of our reporters or editors to discuss their work and the challenges they face along the way. This week we chat with business and personal finance reporter Erin Arvedlund about what happened in the stock market and how she approaches her work.

As a reporter covering personal finance, can you explain what all is happening with the stock market this week? What is shorting and how does it work?

Shorting isn’t for amateurs. It’s a strategy of betting on a stock price dropping — similar to betting on a horse at the race track coming in last. Investors borrow stock they don’t own, bet it will go down in price, and buy it back at a lower level and pocket the difference.

What are you watching for in the next week related to the stock market? What are you watching for on your beat overall?

Right now we’re witnessing extreme populism infecting the stock markets. It’s a fascinating trend.

What’s something you find that is often misunderstood about business or personal finance?

That it’s complicated. I have found that most of the successful investors I interview are proud of the “boring” strategy they employ. Index funds, low-cost investing, and automatic savings every month into a retirement fund.

Are there any stories you’ve worked on recently that you’re particularly proud of?

I loved working on the Par Funding stories and on the crazy GameStop stories, also small businesses trying to get their Paycheck Protection Program money.

What drew you to journalism? How did you end up covering business and personal finance?

I started at Dow Jones News Service covering business in New York City for the wires. I found it so much fun, I just kept going! I went on to work at The Moscow Times in Moscow Russia because I had an interest in foreign reporting and covering the oil and gas industry. Then I came back and worked at Barron’s magazine, wrote a story about a hedge fund Ponzi scammer named Bernie Madoff and ended up writing a book.

What are some things you do for fun? What are you looking forward to this year?

I play with my dog Christie, who often makes appearances on Zoom for work. I’m looking forward to one day swimming at our pool again — when it reopens! I miss seeing everyone at the newsroom. That’s my wish.

Email Erin Arvedlund at earvedlund@inquirer.com and follow her on Twitter at @erinarvedlund.

Through Your Eyes | #OurPhilly

This is a gorgeous shot that I hope brings some joy to your morning. Thanks for sharing, @justjo1002!

Tag your Instagram posts or tweets with #OurPhilly and we’ll pick our favorite each day to feature in this newsletter and give you a shout-out!

Why you should wear two masks to protect against COVID-19 variants

Multiple variants of COVID-19 have emerged in the U.S. Some spread more easily among people, and data is beginning to suggest that some may be more threatening. This could mean that it takes less time and less virus to get infected if you’re exposed. Overall, the core advice on social distancing and mask-wearing is the same, but there are extra precautions you can take just in case — like doubling up on masks. Here’s what experts say you should know.

What we’re…

  1. Reading: this 1994 Sports Illustrated profile of legendary Temple University basketball coach John Chaney, who died Friday at the age of 89.

  2. Eating: Pizza Crime. The new Haddonfield restaurant’s owner said the name came from the idea of having “pizza so good it should be a crime.”

  3. Checking out: 40 arts and entertainment highlights to get you through the last six weeks of winter.

Your Daily Dose of | Wine from space

The International Space Station bid adieu this month to 12 bottles of French Bordeaux wine and hundreds of snippets of grapevines that spent a year orbiting the world in the name of science. Learn more about the research here.