April 20, 2020

COVID-19 puts damper on chemical deals

by Alexander H. Tullo

April 18, 2020 | APPEARED IN VOLUME 98, ISSUE 15

One business consequence of the COVID-19 outbreak is the delay of chemical company mergers and acquisitions. Nippon Shokubai is delaying its merger with Sanyo Chemical. The Japanese companies originally planned to complete their union, which would create a firm with about $4.7 billion per year in sales, in October. Now, they don’t expect to consummatethe transaction until April 2021. The companies say the “recent global outbreak of COVID-19 and the sharp decline in the oil and oil product markets” has caused too much uncertainty to complete the transaction right away. The pandemic has also delayed by a month SK Global Chemical’s purchase of Arkema’s functional polyolefins business for about $370 million. The companies now expect to close the deal May 11. Meanwhile, the composites maker Hexcel completely canceled its merger with the aerospace components firm Woodward, citing the health crisis caused by the novel coronavirus.

https://cen.acs.org/business/mergers-acquisitions/COVID-19-puts-damper-chemical/98/i15

April 20, 2020

Chemical M&A Stalls

COVID-19 puts damper on chemical deals

by Alexander H. Tullo

April 18, 2020 | APPEARED IN VOLUME 98, ISSUE 15

One business consequence of the COVID-19 outbreak is the delay of chemical company mergers and acquisitions. Nippon Shokubai is delaying its merger with Sanyo Chemical. The Japanese companies originally planned to complete their union, which would create a firm with about $4.7 billion per year in sales, in October. Now, they don’t expect to consummatethe transaction until April 2021. The companies say the “recent global outbreak of COVID-19 and the sharp decline in the oil and oil product markets” has caused too much uncertainty to complete the transaction right away. The pandemic has also delayed by a month SK Global Chemical’s purchase of Arkema’s functional polyolefins business for about $370 million. The companies now expect to close the deal May 11. Meanwhile, the composites maker Hexcel completely canceled its merger with the aerospace components firm Woodward, citing the health crisis caused by the novel coronavirus.

https://cen.acs.org/business/mergers-acquisitions/COVID-19-puts-damper-chemical/98/i15

April 19, 2020

Your Weekend Golf Update

Here’s a state-by-state breakdown of where golf’s allowed and where it isn’t

By

Mike Stachura

State-wide stay-home executive orders in the wake of the coronavirus pandemic might have you confused about whether golf is or isn’t allowed where you live or even near where you live. Enter the Golf Course Superintendents Association of America with a state-by-state list of where it’s still OK to play. As this list is updated on a daily basis, we will monitor it and update our list below with any changes on a daily basis. There have been more than a dozen changes or modifications in the last few days alone.

The GCSAA has been monitoring the shifting directives from states on whether golf courses should be characterized as non-essential businesses or as an acceptable outdoor activity with proper social distancing. Officials and state golf associations have even had to check whether courses can be maintained when there is a public ban on golf. It’s not an insignificant part of the issue, especially for many courses right at the start of the growing season. A GCSAA letter being sent to state leaders across the country calls out specifically the challenges with leaving a closed golf course without regular maintenance.

“Spring is a critical time for turfgrass,” the letter reads. “If turfgrass is lost, many courses may face permanent closure. Turfgrass cannot be neglected for extended periods of time.” The letter also cites that the decline of course maintenance could lead to vandalism and “the landscape and property of a golf course could become compromised, damaged or unsafe.” The letter indicates that proper maintenance also reduces the threat of “disease carrying pests, including ticks and mosquitoes.”

Currently, the language in most executive orders from state governors’ offices is rarely specific to golf, and only after direct contact have states often clarified the situation. But there continues to be movement toward opening up golf again in states that have banned. For now, 14 states have essentially banned golf being played by classifying golf courses as “non-essential businesses” with no projected re-opening date (California, Illinois, Maine, Maryland, Massachusetts, Michigan, Nevada, New Hampshire, New Jersey, New Mexico, New York, Pennsylvania, Vermont and Washington). That number is lower than it was last week, as Wisconsin has decided to allow courses to re-open under social distancing guidelines April 24, and Minnesota’s governor opened up golf courses along with certain other recreational activities beginning today after his mid-day announcement on April 17. According to the Minneapolis Star-Tribune, once the order was revised to allow public golf courses to open, one course booked 213 golfers in 43 minutes over the lunch hour.

Meanwhile, a change in New York, which itself has had more coronavirus cases than any country in the world outside of the U.S., the governor’s executive order language now provides an opening for golf courses with “private operators” to permit individuals access to the property so long as there are no gatherings of any kind and appropriate social distancing of six feet between individuals is strictly abided.” The order still restricts golf courses as non-essential businesses and prevents them from allowing employees “working on-premise,” aside from maintenance and security.

In some cases, courses, clubs or resorts (such as Bandon Dunes in Oregon which is closed through April 30, for the moment) have opted to pause operations even if their states haven’t mandated it. As David Phipps, the GCSAA’s Northwest field staff representative, put it, “It’s been a rollercoaster ride trying to keep track of all these executive orders across my region.” Recognize, as well, that several states are requiring non-residents to self-quarantine for a stretch of time (typically 14 days) upon arrival or even disallowing short-term rentals (like a condo for a golf trip, for example), so heading across state lines from a no-play state to an open-play state might not always work out the way you planned.

Here’s thee current state-by-state assessment, from GCSAA research and other reports (Just a reminder that this listing is very fluid and is in no way a legally binding document. It’s best to check with your local and state authorities on the most current situation, and your local course specifically, as county or city rules may supersede any state order) :

ALABAMA
Governor Directive: Is golf open for play?: Yes
Governor Directive: Is golf course maintenance allowed?: Yes

ALASKA
Golf open for play?: Pending
Course maintenance allowed?: Pending

ARIZONA
Golf open for play?: Yes
Course maintenance allowed?: Yes

ARKANSAS
Golf open for play?: Yes
Course maintenance allowed?: Yes

CALIFORNIA
Golf open for play?: No (But some areas open for play) Course maintenance allowed?: Yes

COLORADO
Golf open for play?: Yes (County health departments determine whether golf can be played)
Course maintenance allowed?: Yes

CONNECTICUT
Golf open for play?: Yes
Course maintenance allowed?: Yes

DELAWARE
Golf open for play?: Yes
Course maintenance allowed?: Yes

FLORIDA
Golf open for play?: Yes (Miami-Dade, Broward and Palm Beach counties preventing play)
Course maintenance allowed?: Yes

GEORGIA
Golf open for play?: Yes (stay-at-home orders expected for Savannah and parts of Atlanta)
Course maintenance allowed?: Yes

HAWAII
Golf open for play?: Yes (Oahu and Maui closed to play; voluntary closures)
Course maintenance allowed?: Yes

IDAHO
Golf open for play?: Yes
Course maintenance allowed?: Yes

ILLINOIS
Golf open for play?: No
Course maintenance allowed?: Yes

INDIANA
Golf open for play?: Yes (Howard County bans play)
Course maintenance allowed?: Yes

IOWA
Golf open for play?: Yes
Course maintenance allowed?: Yes

KANSAS
Golf open for play?: Yes (some cities preventing play)
Course maintenance allowed?: Yes

KENTUCKY
Golf open for play?: Yes (some municipalities closing courses)
Course maintenance allowed?: Yes

LOUISIANA
Golf open for play?: Yes
Course maintenance allowed?: Yes

MAINE
Golf open for play?: No
Course maintenance allowed?: Yes

MARYLAND
Golf open for play?: No
Course maintenance allowed?: Yes

MASSACHUSETTS
Golf open for play?: No
Course maintenance allowed?: Yes (town boards may restrict maintenance)

MICHIGAN
Golf open for play?: No
Course maintenance allowed?: Pending (basic maintenance being performed, waiting for clarification)

MINNESOTA
Golf open for play?: Yes
Course maintenance allowed?: Pending

MISSISSIPPI
Golf open for play?: Yes
Course maintenance allowed?: Yes

MISSOURI
Golf open for play?: Yes (check with local authorities)
Course maintenance allowed?: Yes

MONTANA
Golf open for play?: Yes (some courses closing)
Course maintenance allowed?: Yes

NEBRASKA
Golf open for play?: Yes
Course maintenance allowed?: Yes

NEVADA
Golf open for play?: No Course maintenance allowed?: Yes

NEW HAMPSHIRE
Golf open for play?: No
Course maintenance allowed?: Yes

NEW JERSEY
Golf open for play?: No
Course maintenance allowed?: Yes

NEW MEXICO
Golf open for play?: No
Course maintenance allowed?: Pending

NEW YORK
Golf open for play?: No (but play may be allowed by private operators; no employees other than maintenance on site)
Course maintenance allowed?: Yes

NORTH CAROLINA
Golf open for play?: Yes (consult local authorities for restrictions)
Course maintenance allowed?: Yes

NORTH DAKOTA
Golf open for play?: Yes
Course maintenance allowed?: Yes

OHIO
Golf open for play?: Yes (consult local health department as interpretations of executive order vary)
Course maintenance allowed?: Yes

OKLAHOMA
Golf open for play?: Yes
Course maintenance allowed?: Yes

OREGON
Golf open for play?: Yes (voluntary closures, including Bandon Dunes)
Course maintenance allowed?: Yes

PENNSYLVANIA
Golf open for play?: No
Course maintenance allowed?: Yes

RHODE ISLAND
Golf open for play?: Yes
Course maintenance allowed?: Yes

SOUTH CAROLINA
Golf open for play?: Yes (Myrtle Beach is open for residents only)
Course maintenance allowed?: Yes

SOUTH DAKOTA
Golf open for play?: Yes
Course maintenance allowed?: Yes

TENNESSEE
Golf open for play?: Yes (state park courses closing; Shelby and Sevierville County courses closed)
Course maintenance allowed?: Yes

TEXAS
Golf open for play?: Yes (counties may restrict play)
Course maintenance allowed?: Yes

UTAH
Golf open for play?: Yes (cities may restrict play)
Course maintenance allowed?: Yes

VERMONT
Golf open for play?: No
Course maintenance allowed?: Pending

VIRGINIA
Golf open for play?: Yes
Course maintenance allowed?: Yes

WASHINGTON
Golf open for play?: No
Course maintenance allowed?: Yes

WEST VIRGINIA
Golf open for play?: Yes
Course maintenance allowed?: Yes

WISCONSIN
Golf open for play?: No (but courses to open April 24) Course maintenance allowed?: Yes

WYOMING
Golf open for play?: Yes
Course maintenance allowed?: Yes

GOLF + THE CORONAVIRUS: Is playing golf safe during the crisis? | How clubs/courses are adjusting | State-by-state breakdown of where golf is allowed and where it isn’t | Golf’s governing bodies release a new—and tentative—schedule | Complete list of pro/amateur tournaments canceled or postponed | How meditation can help your coronavirus anxiety | In praise of playing golf alone | 10 timely—and timeless—golf books to take your mind off the real world

https://www.golfdigest.com/story/heres-a-state-by-state-breakdown-of-where-golfs-allowed-and-where-it-isnt?mbid=social_twitter

April 19, 2020

Your Weekend Golf Update

Here’s a state-by-state breakdown of where golf’s allowed and where it isn’t

By

Mike Stachura