COVID-19 Impact: BMW, Fluor, MyEyeDr.
COVID-19 has had severe impacts on the operations of BMW, Fluor, and MyEyeDr. The pandemic has caused each company to cease operations completely or continue under strict protocols and circumstances.
- A meeting was conducted by the CEO of BMW with the media personnel to assess the difficulties the company faces and review its plan to move forward.
- The COVID-19 pandemic has forced the operators of BMW in the Carolinas to cease operations beyond April 13. This is a major manufacturing plant that employs thousands of people and has billions of investments, but was unable to reopen as planned.
- The Parkview BMW branch will remain closed until it is deemed safe to re-open. However, emergency services will still be provided to those persons in need.
- The Beverly Hills BMW has prioritized the protection of its workers and customers by enforcing strict no contact and social distancing policies.
- BMW expects to lose a significant percentage of profit for 2020 financial year due to the corona virus pandemic. The company plans to invest billions to conduct research to ease the effects of similar events in the future.
- The company has implemented new car incentives and ownership programs. This was done to assist customers and owners and encourage buyers.
- In a bid to limit the impact of COVID-19, BMW has been setting dates to reopen its South Carolina plant.
- Fluor has implemented a task force to ensure the safety of their customers and workers. They are currently working on plans to reopen while adhering to the rules and regulations of government entities.
- Fluor is working to protect its shareholders’ investments amidst the COVID-19 pandemic. This means that they are finding means to allow shareholders to purchase and benefit from existing shares, despite the lowering of stock prices.
- Demand for oil and natural resources continues to rise amidst the global pandemic. Therefore, to meet the demands of production, assets are predicted to be used during the forecast period.
- As the company anticipates a possible buyout, Fluor announced its adoption of a poison pill. Alan Boeckmann stated that this is in an effort to "capitalize on recent market volatility."
- In a press release, Fluor announced its adoption of a 'limited duration stockholders rights agreement.' It also mentioned its plans to distribute dividends of one preferred share purchase right.
- Select locations of MyEyeDr remain open to provide for the essential needs of clients. The necessary precautions have been taken and protocols observed to protect both patients and doctors.
- Some offices of MyEyeDr have been temporarily closed for the safety of customers. Phone services will be provided for established customers during the time of closure.
- The company has extended closing, compensated and maintained its doctors, released some of its staff and implement other measures to cut costs.
The information presented in this research was gathered from several sites. Many of the sites used were direct information issued by the given companies. These websites were given preference because they provided the credibility and reliability of the information presented. For BMW, article summaries were given from the websites BMW Blog, BIZ Journals, Parkview BMW, BMW of Beverly Hills, and NASDAQ. Sources relating to Fluor were Fluor, Thomson Reuters, and Market Watch. Both articles relating to MyEyeDr were taken from MyEyeDr. We ensured that the information provided was most recent (over the past month or two) by filtering the search results, This added to the reliability of the information. A global outlook was taken for the purposes of this research, meaning it was not just limited to the US, but worldwide where applicable. MYEyeDr only three articles were found. For this information, we searched the company's website, the news as well as social media pages. We assume that since MYEyeDr is a small entity, there were not many articles issued about it.