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Coronavirus could decimate Africa, except for CPAPs
Coronavirus could decimate Africa, except for CPAPs
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Coronavirus could decimate Africa, except for CPAPs; FDA approves application; US hospitals increasingly using
Q1 2020 hedge fund letters, conferences and more
WASHINGTON, D.C. (April 20, 2020) - The coronavirus could easily decimate the populations of many African countries - making what happened in the U.S. look mild by comparison - because of the lack of the most important tool for preventing death - ventilators.
The Lack Of Ventilators
Most countries in Africa have very few ventilators - WHO says fewer than 2000 ventilators among 41 countries, Somalia has none - and even fewer people trained to operate them, so many experts are predicting a catastrophic situation, far exceeding that experienced in the U.S. and other countries, once cases of COVID-19 begin to exponentially balloon on that continent.
As of Friday, there were only about 19,000 confirmed cases of coronavirus, and 10,000 deaths, across the entire continent, but both numbers are expected to explode since there are few if any governmental restrictions to slow its spread, and very limited resources to treat its 1.3 billion inhabitants (almost 17% of the total world population), or to perform the contact tracing necessary to slow its spread.
Thus the UN Economic Commission for Africa has reported that Africa might see 3.3 million deaths and 1.2 billion infections, and, even under a best-case scenario, a total of 300,000 deaths from the coronavirus can be expected this year alone.
But a novel proven strategy now growing in use could make it possible to provide enough respiratory assistance to save hundreds of thousands of African lives, even for people who live in remove villages without access to reliable electricity, much less ventilators and those trained to operate them, says professor John Banzhaf, who was one of the first to suggest and aggressively promote this new procedure.
Poor Man's Ventilators
Ventilators are very expensive ($25K-$50K) and complex pieces of equipment which require trained operators, and are often already scarce during the current pandemic, even in rich western countries.
But CPAP, BiPAP, and similar breathing machines - sometimes called "poor man's ventilators," and used to treat snoring and other sleep apnea problems - have now been approved for use in treating COVID-19 patients, and have been shown to be effective in many cases.
Banzhaf, an MIT-educated engineer and inventor, was one of the first to suggest and widely promote the concept of using these comparatively simple and much less expensive devices in many situations in which a COVID-19 patient required respiratory assistance to remain alive, but did not necessarily need the full power and sophistication of a modern hospital ventilator.
His suggestion received a major boost when the U.S. Food and Drug Administration [FDA] not only recommended the procedure, but made it legal by a ruling dated March 22.
Treating COVID-19 Patients
In a guidance document for treating COVID-19 patients issued on that date, the agency said: "Continuous Positive Airway Pressure (CPAP), auto-CPAP, and bilevel positive airway pressure (BiPAP or BPAP) machines typically used for treatment of sleep apnea (either in the home or facility setting) may be used to support patients with respiratory insufficiency provided appropriate monitoring (as available) and patient condition."
The Australian counterpart of the FDA - its TGA- issued a similar ruling shortly thereafter, and doctors treating COVID-19 begin using the devices where it seemed appropriate, occasionally adding oxygen and/or making modifications.
This dramatic expansion to the arsenal of weapons against the deadly virus is very important, says Banzhaf, because:
- ventilators are in short supply while there are millions of existing CPAP machines, in homes and in medical warehouses, with some no longer even needed by former users;
- hospitals are able to afford many more CPAPs (at about $850) than ventilators ($25K-50K), especially since there is little use for the latter once the COVID-19 peak demand ceases;
- people are readily donating CPAP machines which are no longer needed, something Banzhaf originally suggested in a TV interview;
- many CPAP machines can be powered by 12-volt electricity, so they can be used wherever there is a car or truck, even if electric power in the region is spotty, intermittent, or even unavailable.
New York State has already acquired thousands of CPAP and BiPAP devices to deal with its anticipated ventilator shortage.
Indeed, the New York Times has just reported that "doctors at North Shore University Hospital on Long Island have been using machines designed for people with sleep apnea to keep scores of coronavirus patients breathing," and that such innovations "may have helped stave off the dire ventilator shortages and rationing that some had feared but have not come to pass."
The Times report also points out that "many hospitals are using them to increase oxygen levels without resorting to intubation" - since intubation is a procedure with major risks because most COVID-19 patients who are intubated die, and others suffer long-lasting problems.
The Times also says that "the devices, doctors say, have been especially helpful for coronavirus patients with moderately impaired lung function."
CPAPs May Save Coronavirus Patient's Life In Africa
In a modern hospital setting, oxygen is usually readily available, and doctors have found that it can be used to increase the effectiveness of CPAP, BiPAP, and similar breathing devices. But any oxygen at all, much less a ready and reliable supply, is frequently not available in many locations in African countries.
But like many CPAP machines, oxygen concentrators - small devices which extract oxygen directly from the air - are not only designed to operate from a 12 volt source; they often have built-in batteries to make them completely portable. Indeed, many elderly Americans who need additional oxygen can actually carry their concentrators with them as they go about their daily activities.
Thus, suggests electrical engineer Banzhaf, both a CPAP device to help ventilate lungs, and an oxygen concentrator to help provide more oxygen for the lungs, can be used to keep a coronavirus patient alive anywhere in Africa where there is a car or truck which can be operated occasionally to keep the battery fully charged.
Coronavirus in Africa and beyond: Tools For Fighting The Deadly Virus
Indeed, in many cases an older used battery from a car or truck - one no longer able to provide sufficient power to turn over an electrical starter on a car or truck - can still store far more electrical energy than is necessary to operate both a CPAP breathing device and an oxygen concentrator to keep a COVID-19 patient in respiratory distress alive, even if there is no ventilator and a trained ventilator operator.
And even if one or both of these devices does require 117-volt AC power to operate, an inverter - a device about the size of a pack of cigarettes which converts 12-volt DC power from an automobile or truck battery to 117-volt AC power - can be used to keep the patient alive or breathing even in the most remote parts of the continent.
Of all the tools for fighting the deadly coronavirus which have come out of universities, this may be one of the most useful, and one with great potential for saving many lives in Africa.
It is also rather clearly one of the most unusual, since Banzhaf isn't a medical person, nor even a scientist and practicing engineer.
Rather, he is an interdisciplinary academic figure who has made his mark in fields as varied as public health ("The Man Behind The Ban On Cigarette Commercials"); computer science, game theory, and political science (the "Banzhaf Index"); and public interest litigation ("a Driving Force Behind the Lawsuits That Have Cost Tobacco Companies Billions of Dollars").
For more information, please see http://banzhaf.net/by/COVID.html
The post Coronavirus could decimate Africa, except for CPAPs appeared first on ValueWalk.
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Key shipping company files for Chapter 11 bankruptcy
The Illinois-based general freight trucking company filed for Chapter 11 bankruptcy to reorganize.
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The U.S. trucking industry has had a difficult beginning of the year for 2024 with several logistics companies filing for bankruptcy to seek either a Chapter 7 liquidation or Chapter 11 reorganization.
The Covid-19 pandemic caused a lot of supply chain issues for logistics companies and also created a shortage of truck drivers as many left the business for other occupations. Shipping companies, in the meantime, have had extreme difficulty recruiting new drivers for thousands of unfilled jobs.
Related: Tesla rival’s filing reveals Chapter 11 bankruptcy is possible
Freight forwarder company Boateng Logistics joined a growing list of shipping companies that permanently shuttered their businesses as the firm on Feb. 22 filed for Chapter 7 bankruptcy with plans to liquidate.
The Carlsbad, Calif., logistics company filed its petition in the U.S. Bankruptcy Court for the Southern District of California listing assets up to $50,000 and and $1 million to $10 million in liabilities. Court papers said it owed millions of dollars in liabilities to trucking, logistics and factoring companies. The company filed bankruptcy before any creditors could take legal action.
Lawsuits force companies to liquidate in bankruptcy
Lawsuits, however, can force companies to file bankruptcy, which was the case for J.J. & Sons Logistics of Clint, Texas, which on Jan. 22 filed for Chapter 7 liquidation in the U.S. Bankruptcy Court for the Western District of Texas. The company filed bankruptcy four days before the scheduled start of a trial for a wrongful death lawsuit filed by the family of a former company truck driver who had died from drowning in 2016.
California-based logistics company Wise Choice Trans Corp. shut down operations and filed for Chapter 7 liquidation on Jan. 4 in the U.S. Bankruptcy Court for the Northern District of California, listing $1 million to $10 million in assets and liabilities.
The Hayward, Calif., third-party logistics company, founded in 2009, provided final mile, less-than-truckload and full truckload services, as well as warehouse and fulfillment services in the San Francisco Bay Area.
The Chapter 7 filing also implemented an automatic stay against all legal proceedings, as the company listed its involvement in four legal actions that were ongoing or concluded. Court papers reportedly did not list amounts for damages.
In some cases, debtors don't have to take a drastic action, such as a liquidation, and can instead file a Chapter 11 reorganization.
Shutterstock
Nationwide Cargo seeks to reorganize its business
Nationwide Cargo Inc., a general freight trucking company that also hauls fresh produce and meat, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Northern District of Illinois with plans to reorganize its business.
The East Dundee, Ill., shipping company listed $1 million to $10 million in assets and $10 million to $50 million in liabilities in its petition and said funds will not be available to pay unsecured creditors. The company operates with 183 trucks and 171 drivers, FreightWaves reported.
Nationwide Cargo's three largest secured creditors in the petition were Equify Financial LLC (owed about $3.5 million,) Commercial Credit Group (owed about $1.8 million) and Continental Bank NA (owed about $676,000.)
The shipping company reported gross revenue of about $34 million in 2022 and about $40 million in 2023. From Jan. 1 until its petition date, the company generated $9.3 million in gross revenue.
Related: Veteran fund manager picks favorite stocks for 2024
bankruptcy pandemic covid-19 stocksUncategorized
Key shipping company files Chapter 11 bankruptcy
The Illinois-based general freight trucking company filed for Chapter 11 bankruptcy to reorganize.
Share this:
The U.S. trucking industry has had a difficult beginning of the year for 2024 with several logistics companies filing for bankruptcy to seek either a Chapter 7 liquidation or Chapter 11 reorganization.
The Covid-19 pandemic caused a lot of supply chain issues for logistics companies and also created a shortage of truck drivers as many left the business for other occupations. Shipping companies, in the meantime, have had extreme difficulty recruiting new drivers for thousands of unfilled jobs.
Related: Tesla rival’s filing reveals Chapter 11 bankruptcy is possible
Freight forwarder company Boateng Logistics joined a growing list of shipping companies that permanently shuttered their businesses as the firm on Feb. 22 filed for Chapter 7 bankruptcy with plans to liquidate.
The Carlsbad, Calif., logistics company filed its petition in the U.S. Bankruptcy Court for the Southern District of California listing assets up to $50,000 and and $1 million to $10 million in liabilities. Court papers said it owed millions of dollars in liabilities to trucking, logistics and factoring companies. The company filed bankruptcy before any creditors could take legal action.
Lawsuits force companies to liquidate in bankruptcy
Lawsuits, however, can force companies to file bankruptcy, which was the case for J.J. & Sons Logistics of Clint, Texas, which on Jan. 22 filed for Chapter 7 liquidation in the U.S. Bankruptcy Court for the Western District of Texas. The company filed bankruptcy four days before the scheduled start of a trial for a wrongful death lawsuit filed by the family of a former company truck driver who had died from drowning in 2016.
California-based logistics company Wise Choice Trans Corp. shut down operations and filed for Chapter 7 liquidation on Jan. 4 in the U.S. Bankruptcy Court for the Northern District of California, listing $1 million to $10 million in assets and liabilities.
The Hayward, Calif., third-party logistics company, founded in 2009, provided final mile, less-than-truckload and full truckload services, as well as warehouse and fulfillment services in the San Francisco Bay Area.
The Chapter 7 filing also implemented an automatic stay against all legal proceedings, as the company listed its involvement in four legal actions that were ongoing or concluded. Court papers reportedly did not list amounts for damages.
In some cases, debtors don't have to take a drastic action, such as a liquidation, and can instead file a Chapter 11 reorganization.
Shutterstock
Nationwide Cargo seeks to reorganize its business
Nationwide Cargo Inc., a general freight trucking company that also hauls fresh produce and meat, filed for Chapter 11 bankruptcy protection in the U.S. Bankruptcy Court for the Northern District of Illinois with plans to reorganize its business.
The East Dundee, Ill., shipping company listed $1 million to $10 million in assets and $10 million to $50 million in liabilities in its petition and said funds will not be available to pay unsecured creditors. The company operates with 183 trucks and 171 drivers, FreightWaves reported.
Nationwide Cargo's three largest secured creditors in the petition were Equify Financial LLC (owed about $3.5 million,) Commercial Credit Group (owed about $1.8 million) and Continental Bank NA (owed about $676,000.)
The shipping company reported gross revenue of about $34 million in 2022 and about $40 million in 2023. From Jan. 1 until its petition date, the company generated $9.3 million in gross revenue.
Related: Veteran fund manager picks favorite stocks for 2024
bankruptcy pandemic covid-19 stocksUncategorized
Tight inventory and frustrated buyers challenge agents in Virginia
With inventory a little more than half of what it was pre-pandemic, agents are struggling to find homes for clients in Virginia.
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No matter where you are in the state, real estate agents in Virginia are facing low inventory conditions that are creating frustrating scenarios for their buyers.
“I think people are getting used to the interest rates where they are now, but there is just a huge lack of inventory,” said Chelsea Newcomb, a RE/MAX Realty Specialists agent based in Charlottesville. “I have buyers that are looking, but to find a house that you love enough to pay a high price for — and to be at over a 6.5% interest rate — it’s just a little bit harder to find something.”
Newcomb said that interest rates and higher prices, which have risen by more than $100,000 since March 2020, according to data from Altos Research, have caused her clients to be pickier when selecting a home.
“When rates and prices were lower, people were more willing to compromise,” Newcomb said.
Out in Wise, Virginia, near the westernmost tip of the state, RE/MAX Cavaliers agent Brett Tiller and his clients are also struggling to find suitable properties.
“The thing that really stands out, especially compared to two years ago, is the lack of quality listings,” Tiller said. “The slightly more upscale single-family listings for move-up buyers with children looking for their forever home just aren’t coming on the market right now, and demand is still very high.”
Statewide, Virginia had a 90-day average of 8,068 active single-family listings as of March 8, 2024, down from 14,471 single-family listings in early March 2020 at the onset of the COVID-19 pandemic, according to Altos Research. That represents a decrease of 44%.
In Newcomb’s base metro area of Charlottesville, there were an average of only 277 active single-family listings during the same recent 90-day period, compared to 892 at the onset of the pandemic. In Wise County, there were only 56 listings.
Due to the demand from move-up buyers in Tiller’s area, the average days on market for homes with a median price of roughly $190,000 was just 17 days as of early March 2024.
“For the right home, which is rare to find right now, we are still seeing multiple offers,” Tiller said. “The demand is the same right now as it was during the heart of the pandemic.”
According to Tiller, the tight inventory has caused homebuyers to spend up to six months searching for their new property, roughly double the time it took prior to the pandemic.
For Matt Salway in the Virginia Beach metro area, the tight inventory conditions are creating a rather hot market.
“Depending on where you are in the area, your listing could have 15 offers in two days,” the agent for Iron Valley Real Estate Hampton Roads | Virginia Beach said. “It has been crazy competition for most of Virginia Beach, and Norfolk is pretty hot too, especially for anything under $400,000.”
According to Altos Research, the Virginia Beach-Norfolk-Newport News housing market had a seven-day average Market Action Index score of 52.44 as of March 14, making it the seventh hottest housing market in the country. Altos considers any Market Action Index score above 30 to be indicative of a seller’s market.
Further up the coastline on the vacation destination of Chincoteague Island, Long & Foster agent Meghan O. Clarkson is also seeing a decent amount of competition despite higher prices and interest rates.
“People are taking their time to actually come see things now instead of buying site unseen, and occasionally we see some seller concessions, but the traffic and the demand is still there; you might just work a little longer with people because we don’t have anything for sale,” Clarkson said.
“I’m busy and constantly have appointments, but the underlying frenzy from the height of the pandemic has gone away, but I think it is because we have just gotten used to it.”
While much of the demand that Clarkson’s market faces is for vacation homes and from retirees looking for a scenic spot to retire, a large portion of the demand in Salway’s market comes from military personnel and civilians working under government contracts.
“We have over a dozen military bases here, plus a bunch of shipyards, so the closer you get to all of those bases, the easier it is to sell a home and the faster the sale happens,” Salway said.
Due to this, Salway said that existing-home inventory typically does not come on the market unless an employment contract ends or the owner is reassigned to a different base, which is currently contributing to the tight inventory situation in his market.
Things are a bit different for Tiller and Newcomb, who are seeing a decent number of buyers from other, more expensive parts of the state.
“One of the crazy things about Louisa and Goochland, which are kind of like suburbs on the western side of Richmond, is that they are growing like crazy,” Newcomb said. “A lot of people are coming in from Northern Virginia because they can work remotely now.”
With a Market Action Index score of 50, it is easy to see why people are leaving the Washington-Arlington-Alexandria market for the Charlottesville market, which has an index score of 41.
In addition, the 90-day average median list price in Charlottesville is $585,000 compared to $729,900 in the D.C. area, which Newcomb said is also luring many Virginia homebuyers to move further south.
“They are very accustomed to higher prices, so they are super impressed with the prices we offer here in the central Virginia area,” Newcomb said.
For local buyers, Newcomb said this means they are frequently being outbid or outpriced.
“A couple who is local to the area and has been here their whole life, they are just now starting to get their mind wrapped around the fact that you can’t get a house for $200,000 anymore,” Newcomb said.
As the year heads closer to spring, triggering the start of the prime homebuying season, agents in Virginia feel optimistic about the market.
“We are seeing seasonal trends like we did up through 2019,” Clarkson said. “The market kind of soft launched around President’s Day and it is still building, but I expect it to pick right back up and be in full swing by Easter like it always used to.”
But while they are confident in demand, questions still remain about whether there will be enough inventory to support even more homebuyers entering the market.
“I have a lot of buyers starting to come off the sidelines, but in my office, I also have a lot of people who are going to list their house in the next two to three weeks now that the weather is starting to break,” Newcomb said. “I think we are going to have a good spring and summer.”
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