• Thomas Parker

The pandemic continues

The U.S. had more than 60,000 new cases in a day for the first time this week, and three major states--Texas, California, and Florida--all reported a record number of deaths.

Texas reported a record number of deaths for the third straight day, topping 100 for the first time. Total fatalities rose 3.7%, to 2,918. The sharp increase in deaths this week follows a similar upturn in cases about three weeks ago.

California reported 149 virus deaths, its largest one-day total. The data include some delayed reports from counties from prior days, Governor Gavin Newsom said at a press briefing. Still, the daily count was well above the prior record of 115, set in April, as well as the seven-day average of 73.

Florida reported 120 deaths, a daily record. Cumulatively, deaths among Florida residents climbed by 3.1% to 4,009, according to the report by health officials, which includes data through Wednesday.

In addition to the health impacts, the virus is having severe economic impacts, bankrupting companies at a staggering pace.

Retailers, airlines, restaurants. But also sports leagues, a cannabis company and an archdiocese plagued by sex-abuse allegations. These are some of the more than 110 companies that declared bankruptcy in the U.S. this year and blamed the pandemic in part for their demise.

Many were in deep financial trouble even before governors ordered non-essential businesses shut to help contain the spread of the virus. Some companies are using the pandemic as an opportunity to reorganize and emerge from court smaller and less-indebted. The hardest hit, however, are selling off assets and closing for good.

The largest bankrupted companies include Hertz, Latam Airlines, Frontier Communications, Chesapeake Energy, and J.C. Penny.

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