
02-24-21 election audits, 2020 bankruptcy, COVID & dementia
Season 2021 Episode 41 | 27mVideo has Closed Captions
2 election audits show no problems, 2020 bankruptcy fell, COVID-19 may cause dementia
Republicans in Arizona Legislature continue to fight for more Maricopa County election audits after 2 independent audits show no problems. Bankruptcies fell in the US and Arizona in 2020, despite the pandemic, maybe because of the strength of our economy at the time. Alzheimer's Association is looking at how COVID-19 could be a potential risk factor for developing dementia later in life.
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Arizona Horizon is a local public television program presented by Arizona PBS

02-24-21 election audits, 2020 bankruptcy, COVID & dementia
Season 2021 Episode 41 | 27mVideo has Closed Captions
Republicans in Arizona Legislature continue to fight for more Maricopa County election audits after 2 independent audits show no problems. Bankruptcies fell in the US and Arizona in 2020, despite the pandemic, maybe because of the strength of our economy at the time. Alzheimer's Association is looking at how COVID-19 could be a potential risk factor for developing dementia later in life.
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Learn Moreabout PBS online sponsorship[♪ THEME MUSIC ♪] >>> COMING UP IN THE NEXT HOUR OF LOCAL NEWS ON ARIZONA PBS, ON ARIZONA HORIZON: STATE SENATE PRESIDENT KAREN FANN JOINS US FOR OUR WEEKLY LEGISLATIVE UPDATE.
ON ON CRONKITE NEWS: OVER HALF A MILLION AMERICANS HAVE DIED FROM COVID-19, BUT HEALTH EXPERTS ARE CAUTIOUSLY OPTIMISTIC ABOUT THE FUTURE OF THE PANDEMIC.
AND ON BREAK IT DOWN: THE INCREASING NUMBER OF WOMEN COACHING IN MALE-DOMINATED SPORTS.
ALL OF THIS AND MORE AHEAD IN THE NEXT HOUR ON ARIZONA PBS.
>>> GOOD EVENING, AND WELCOME TO "ARIZONA HORIZON."
I'M TED SIMONS.
WE START TONIGHT WITH ENCOURAGING NEWS REGARDING COVID-19 VACCINES.
THE JOHNSON & JOHNSON ONE-SHOT VACCINE PROVIDES GOOD PROTECTION.
OVERALL THE STUDY SHOWS THE VACCINE IS 66% EFFECTIVE IN PREVENTING MODERATE CASES, AND 85% EFFECTIVE AGAINST SERIOUS ILLNESS.
IT SUGGESTS THAT THE VACCINE COULD GET FDA APPROVAL AS EARLY AS SATURDAY.
SUPPLIES FOR THE OTHER COVID-19 VACCINES ARE IMPROVING, SO MUCH SO THAT CVS WILL BEGIN VACCINATING STARTING FORM.
ONLY EIGHT PHARMACIES ARE INCLUDED NOW.
THEY ARE IN MARICOPA, PIMA, PINAL, YUMA AND MOHAVE COUNTIES.
AGAIN, THOSE VACCINATIONS BEGIN TOMORROW BUT ONLY FOR THOSE ELIGIBLE, AND CVS EMPHASIZES THAT APPOINTMENTS WILL BE REQUIRED.
AND DOWNWARD TRENDS IN HOSPITALIZATIONS COVID CASES.
THE SEVEN-DAY AVERAGE IS NOW 15TH HIGHEST IN THE COUNTRY.
CDC IS FORECASTING FEWER DEATHS FOR THE NEXT MONTH.
THIS IS OF NOTE, BECAUSE THEY NORMALLY PREDICT HIGHER NUMBERS EACH MONTH.
>>> OTHER NEWS A FEDERAL JUDGE IN TEXAS HAS BLOCKED THE BIDEN ADMINISTRATION MORATORIUM OF DEPORTATIONS OF UNDOCUMENTED IMMIGRANTS.
THE MOVE PROHIBITS ENFORCEMENT OF THE JANUARY EXECUTIVE ORDER INSTRUCTING ICE NOT TO DEPORT UNDOCUMENTED IMMIGRANTS FOR 100 DAYS.
>>> AND MIGRANTS HELD IN A TENT CAMP NEAR THE U.S./MEXICO BORDER ARE NOW BEING ALLOWED ENTRY IN THE U.S.
THIS INVOLVES HUNDREDS LIVING IN CAMPS IN MEXICO, DUE TO THE TRUMP ADMINISTRATION'S HOLD IN PLACE ORDER.
THE BIDEN ADMINISTRATION HAS REVERSED THE POLICY, BUT APPLIES ONLY TO THOSE HELD IN THE CAMP.
>>> REPUBLICANS IN THE STATE LEGISLATURE ARE STILL DEMANDING AN AUDIT OF THE ELECTION PROCESS.
WE TALKED ABOUT THAT AND MORE WITH KAREN FANN.
GOOD TO SEE YOU AS ALWAYS.
WE HAVE TWO MORE ELECTION AUDITS.
THEY CHECKED OUT OKAY AS FAR AS THE AUDIT IS CONCERNED.
ARE YOU GOING TO CONTINUE PURSUING THIS?
>> ABSOLUTELY.
AND I'M REALLY GLAD THEY CHECKED OUT OKAY.
WE HOPED ALL ALONG WE NEVER FOUND ANY MAJOR PROBLEMS, BUT IT ONLY ANSWERS HALF OF THE QUESTIONS, AND THAT'S WHAT WE HAVE BEEN TELLING THEM ALL ALONG.
DID THEY CHECK THE BALLOTS THEMSELVES?
IF I SAY HOW MANY BALLOTS WERE SENT OUT TO DECEASED PEOPLE OR PEOPLE WHO DON'T LIVE IN ARIZONA ANYMORE, CAN YOU TELL ME THAT?
THEY CAN'T TELL ME THAT.
WE HAVE AFFIDAVITS SHOWING THAT THERE ARE SERIOUS PROBLEMS, AND THOSE ARE THE OTHER ANSWERS WE'RE TRYING TO GET, AND BY NOT GIVING US THE FULL FORENSIC AUDIT, WE CAN'T GET THOSE ANSWERS.
>> AND THERE IS NO EVIDENCE OF CHANGED VOTES OR MALICIOUS HARDWARE ON THE VOTING MACHINES.
THEY ARE NOT CONNECTED TO THE INTERNET.
THEY HAVE NOT BEEN HACKED.
THEY WERE PROGRAMMED TO COUNT THE BALLOTS THEY RECEIVED CORRECTLY.
THIS HAS BEEN GOING ON FOR SO LONG.
IS THIS CONTINUED FIGHT A GOOD THING FOR ARIZONA?
>> WELL, IT'S A SAD THING, BECAUSE ALL ALONG THE BOARD OF SUPERVISORS SAID YES, WE ABSOLUTELY WANT A FORENSIC AUDIT, WE UNDERSTAND THE QUESTIONS AND WE NEED ANSWERS.
UNFORTUNATELY THEY ARE NOT GIVING US THE AUTHORIZATION TO SEND IN AND SELECT SOMEBODY THAT WE CAN ALL AGREE ON THAT CAN DO THAT NEXT DEEPER DIVE TO FIND OUT REALLY WHAT KIND OF ELECTION LAWS WE MIGHT NEED TO CHANGE TO MAKE SURE WE DON'T HAVE TENS OF THOUSANDS OF BALLOTS FLOATING AROUND UNACCOUNTED FOR.
>> AND THERE ARE THOSE WHO SAY THIS CONTINUED FIGHT, ALL IT DOES IS KEEP PEOPLE WHO SHOULD BE REASSURED THAT THE ELECTION WAS DONE PROPERLY, AS EVERYONE FROM THE GOVERNOR ON DOWN SEEMS TO THINK -- IT KEEPS THEM FROM BELIEVING THAT.
DO THEY HAVE PINT?
>> I DON'T THINK SO.
THE WHOLE AUDIT -- THE REASON WE'RE DOING THIS IS WE HAVE SO MANY PEOPLE THAT WANT THESE ANSWERS.
WE WANT THEM TO FEEL COMFORTABLE.
AND PATTING THEM ON THE HEAD AND TELLING THEM TO SIT DOWN AND BE QUIET IS NOT AN ANSWER.
THAT'S NOT WHAT WE DO AROUND HERE.
WE GET ANSWERS AND GIVE THEM TO OUR CONSTITUENTS.
>> SO THESE TWO INDEPENDENT AUDITS NOT ENOUGH?
>> WE STILL HAVE ANOTHER HALF TO GO.
>> LET'S MOVE ON TO INCREASING JOBLESS BENEFITS.
WE'RE NEXT TO MISSISSIPPI HERE.
THERE IS A MOVE TO MOVE THIS UP TO $320 A WEEK, AS OPPOSED TO 240 A WEEK.
THIS IS SOMETHING YOU HAVE BEEN PUSHING?
>> ABSOLUTELY.
AND THE LAST TEN YEARS I RAN A LOT OF BILLS TO CLOSE LOOPHOLES.
I'M ON THE OTHER SIDE ON THIS ONE, AND IT'S ABOUT TIME WE DO SOMETHING HERE.
WE SAW WHAT HAPPENED IN COVID.
THAT 240 HASN'T BEEN RAISED FOR 17 YEARS.
SO THE WAY WE CAME TO THE 320 IS I TOOK THE AMOUNT OF INFLATION OVER THOSE TEN YEARS, AND THAT'S ABOUT WHERE WE SHOULD BE.
AND THEN IT WILL GO UP TO $400.
THAT WILL BRING US UP TO 33RD PLACE IN THE NATION.
SO WE'RE GETTING HERE.
IT HAS FRAUD PROTECTION CATEGORY, AND MOVES IT FROM $30 TO $160 THAT THEY CAN EARN WITHOUT EFFECTING THEIR BENEFITS.
THAT HASN'T BEEN CHANGED FOR 36 YEARS.
YES, THE EMPLOYERS ARE GOING TO HAVE TO PAY A LITTLE BIT MORE, BUT IT TAKES THAT WAGE FROM 7,000, WHICH, AGAIN, IS 36 YEARS OLD, AND NEXT JANUARY 1ST, WE'LL RAISE IT UP TO 8, AND THEN THE FOLLOWING YEAR 9.
>> AND IT GOES FOR 26 WEEKS, BUT 20 WEEKS IF THE UNEMPLOYMENT RATE DROPS BELOW 26%, SOMETHING LIKE THAT?
>> EXACTLY.
IT STAYS AT 26%, PLUS ALL OF THE EXCEPTIONS THAT ARE ALLOWED RIGHT NOW.
NOW I KNOW WE'RE STILL HAVING CONVERSATIONS ABOUT THIS, BUT IT'S AN INCENTIVE BECAUSE IF IT'S UNDER 6%, MOST PEOPLE SHOULD BE ABLE TO GET A JOB IF THEY WANT TO WORK.
SO WE DON'T WANT TO ENCOURAGE BAD BEHAVIOR, BY SAYING I STILL HAVE SIX WEEKS TO GO.
I DON'T NEED TO LOOK FOR A JOB, WHEN THERE IS A LOT OF JOBS THERE.
>> AND THE LOAN DISSENDING VOTE SAYS THIS ENCOURAGES PEOPLE NOT TO LOOK FOR WORK.
DOES THAT LAWMAKER HAVE A POINT?
>> I DON'T THINK SO.
I THINK I'M A LITTLE MORE EXPERIENCED IN THIS THAN SOME OTHERS.
>> AND ONE LAST POINT BEFORE YOU GET OUT OF HERE.
THE SAME LAWMAKER IS PUSHING THE IDEA OF NO GOVERNMENT AGENCY OR OFFICIAL USING SOCIAL MEDIA FOR GOVERNMENT PURPOSES.
WHAT ARE YOUR THOUGHTS ON THAT?
>> I THINK THE INTENTION IS GOOD, BUT I THINK THE BILL NEEDS A LOT MORE WORK, BECAUSE AS THIS BILL STANDS RIGHT NOW, THE ARIZONA SENATE WOULD NOT EVEN BE ABLE TO HAVE A WEBPAGE FOR PEOPLE TO GO TO, SO I THINK THE BILL NEEDS SOME WORK.
>> THERE WAS AN UGLY SITUATION THERE, AND WE UNDERSTAND THE UP SET, YET PEOPLE USE SOCIAL MEDIA FROM EVERYTHING FROM CRIME SITES AND BEYOND.
>> YES.
THE BILL IS JUST NOT THERE YET.
>> AND THE IDEA OF LIMITING THE CORPORATION COMMISSIONS POWER AS FAR AS REGULATIONS ARE CONCERNED AND REQUIRES FOR GREEN ENERGY AND THESE SORTS OF THINGS, THIS SEEMS LIKE IT IS MAKING SOME MOVES IN THE SENATE.
YOUR THOUGHTS?
>> I DISAGREE.
IT IS THE LEGISLATURE AND THE CITIZEN, THE VOTERS WHO SET POLICY FOR ARIZONA.
WE HAVE TO DETERMINE THE POLICY.
THE CORPORATION COMMISSION IS THERE TO SET RATES AND REGULATE.
THEY ARE NOT THERE TO SET POLICY, SO THEY DON'T GET TO SET POLICIES ON ENERGY POLICY OR GAS POLICIES OR ANYTHING ELSE.
THAT'S THE LEGISLATURE AND VOTERS JOB.
>> AND BOB BURNS SERVED ON THE COMMISSION AS WELL, AS HE SAID THIS WOULD BE TOTALLY UNCONSTITUTIONAL.
>> WELL, LIKE I SAID, WE WERE ABLE TO KNOCK IT DOWN TEN YEARS AGO, SO IT'S ABOUT WHO MAKES THE POLICY.
>> KAREN FANN, WE THANK YOU SO MUCH FOR YOUR TIME.
>> THANK YOU >>> THERE'S CONCERN THAT COVID-19 COULD INCREASE THE RISK OF COGNITIVE DECLINE AND COULD POSSIBLY BE A RISK FACTOR FOR DEVELOPING DEMENTIA.
THE ALZHEIMER'S ASSOCIATION IS DOING STUDIES ON THE IMPACT ON THE BRAIN.
WE TALKED ABOUT THIS WITH KINSEY MCMANUS, PROGRAM DIRECTOR FOR THE ASSOCIATION'S DESERT SOUTHWEST CHAPTER.
KINSEY, THANK YOU FOR JOINING US.
WHAT DO WE KNOW ABOUT COVID-19 AND THE BRAIN?
>> THANK YOU SO MUCH FOR HAVING ME FIRST AND FOREMOST.
I THINK THE ANSWER IS -- SHORT AND LONG IS COMPLICATED.
WE CERTAINLY KNOW THAT PEOPLE LIVING WITH DEMENTIA HAVE A MUCH HIGHER RISK FOR DEVELOPING COVID-19, BUT WE'RE ALSO LOOKING AT SOME CONCERNING RECENT OUTCOMES TO LOOK AT HOW COVID-19 MAY BECOME A POTENTIAL RISK FACTOR FOR DEVELOPING DEMENTIA LATER IN LIFE.
AND SO WHY IS THAT HAPPENING?
WELL, ONE OF THE THINGS THAT WE'RE LOOKING AT IS COVID-19 HAS CLEAR NEUROLOGICAL SYMPTOMS ASSOCIATED WITH IT.
THINGS LIKE LOSS OF SMELL AND TASTE.
WE HAVE SEEN PEOPLE WITH INCREASED RISK FOR STROKE AS A RESULT OF HAVING COVID-19.
PEOPLE EXPERIENCING BRAIN HEMORRHAGING, EVEN LACK OF OXYGEN TO THE BRAIN.
MANY PEOPLE WHO HAVE HAD BREATHING ISSUES ARE EXPERIENCING LOW OXYGEN LEVELS IN THE BRAIN.
AND BRAIN INJURY IS A RISK FACTOR FOR ALZHEIMER'S AND OTHER DEMENTIAS.
SO COVID-19 MAY BE IN ITS OWN WAY, A BRAIN INJURY THAT IS POTENTIALLY CREATING A RISK FOR DEMENTIA.
>> NOW IS IT THE VIRUS ITSELF THAT IS CAUSING THIS?
OR IS IT THE BODY'S RESPONSE TO THE VIRUS?
>> MAYBE AND MAYBE.
SO THIS IS WHAT WE'RE REALLY TRYING TO UNDERSTAND IN A NEW RESEARCH STUDY THAT WILL BE INTERNATIONAL.
LOOKING AT THE SHORT-TERM AND LONG-TERM EFFECTS OF COVID.
IT COULD BE THAT COVID IS GETTING INTO THE BRAIN -- AND WE DO HAVE STUDIES THAT SHOW COVID-19 PARTICLES EXIST IN THE BRAIN, SO IT MAY BE CROSSING THE BLOOD/BRAIN BARRIER.
AND ONE OF THE PATHWAYS COULD BE THROUGH THE OLFACTORY SYSTEM.
THE OTHER POSSIBILITY IS IT COULD BE THE BODY'S RESPONSE TO COVID-19.
THE WAY THE BODY'S RESPONSE COMES ABOUT, IT COULD BE POTENTIALLY NEW.
SO MAYBE IT'S INFLAMMATION THAT IS MAYBE CAUSING CHANGES IN THE BRAIN.
THERE IS CERTAINLY A LOT OF QUESTION THERE.
BUT WE DO HAVE HISTORICAL PRECEDENCE AROUND THIS.
SO THE 1918 FLU EPIDEMIC, SARS, MERS, ALL OF THESE CONTINUE THE COURSE OF CHALLENGES WITH COGNITIVE FUNCTIONING, SLEEP DISTURBANCES, BEHAVIOR CHANGES WELL AFTER THESE PANDEMICS HAVE COME UNDER CONTROL.
>> AND WE'RE STILL NOT QUITE SURE WHY?
>> RIGHT.
RIGHT.
SO WHAT THE ALZHEIMER'S ASSOCIATION IS REALLY SUPPORTING RIGHT NOW IS AN INTERNATIONAL STUDY THAT IS LOOKING AT PEOPLE WHO WERE HOSPITALIZED FOR COVID -- AND WE'RE TALKING AT THIS .40 COUNTRIES, SO THIS IS REALLY EXCITING.
WE'RE GOING TO GET TO LOOK AT PEOPLE ACROSS DIFFERENT -- JUST UNDERLYING GENETICS, ACROSS THE WORLD CROSS BEHAVIORS, CROSS LIFE EXPERIENCES, SO LOOKING AT PEOPLE WHO HAVE BEEN HOSPITALIZED FOR COVID-19 AND SUBSEQUENTLY DISCHARGED, AND LOOKING AT OVER SIX, NINE, AND 18 MONTHS WHAT THAT IMPLICATION IS ON THE BRAIN.
SO THEY WILL PROBABLY GO THROUGH COGNITIVE TESTING, BRAIN SCANS, BLOOD TESTS, AND COMPARING THEM TO PEOPLE ENROLLED IN OTHER TYPES OF NEUROLOGICAL STUDIES, AND THEY HAVE ALSO GONE THROUGH SOME OF THOSE NEUROLOGICAL TESTS, BLOOD TESTS, AND VARIETIES IN THE GENES, AND HOPEFULLY WE'LL START UNDERSTANDING WHAT IT IS THAT COVID-19 IS REALLY DOING TO THE BRAIN, WHETHER DIRECTLY OR INDIRECTLY.
>> AND, AGAIN, WE SHOULD EMPHASIZE HERE, WE HAVE DONE STORIES ON THESE KINDS OF THINGS WHERE DEMENTIA IS NOT NECESSARILY A NORMAL SIGN OF AGING.
WITH THAT IN MIND, WE HAVE SEEN SUCH ADVANCES IN TREATMENT AND THERAPIES.
WITH THE BRAIN IT IS STILL FEELS LIKE -- I LIKE TO DESCRIBE IT AS THE WILD, WILD WEST.
IS THAT CHANGING?
OR HOW IS IT GOING?
>> I THINK THE WILD WEST IS A GREAT WAY TO DESCRIBE THE BRAIN.
IT IS SO COMPLICATED AND COMPLEX COMPARED TO THE OTHER ORGANS IN THE BODY.
IT ALSO CONTROLS PRETTY MUCH EVERYTHING THAT HAPPENS IN THE REST OF THE BODY.
WE HAVE BEEN WORKING HARD TO UNDERSTAND THE BRAIN, UNDERSTAND DEMENTIA, REALLY UNDERSTAND RESEARCH ON WHAT CAN CAUSE DEMENTIA.
WHAT WE CAN DO TO TREAT OR CURE IT.
WE STILL DO NOT HAVE A CURE FOR ALZHEIMER'S OR OTHER TYPES OF DEMENTIA.
WE HAVE HAD SOME BREAKTHROUGHS, BUT I THINK MORE IMPORTANTLY, WE'RE PROBABLY GOING TO FIND SOME OF THOSE HEALTH-RISK FACTORS THAT WE CAN ADDRESS TO REDUCE SOMEONE'S RISK OF DEVELOPING DEMENTIA.
SO ONE THING WE KNOW IS THAT A HEALTHY HEART IS A HEALTHY MIND.
SO LOOKING AT SOME OF THOSE CARDIOVASCULAR FACTORS, THERE'S LARGE INTERNATIONAL STUDIES HAPPENING RIGHT NOW TO TEST DIFFERENT LIFESTYLE CHANGES.
SO I EXPECT WE'LL SEE SOME OF THOSE PREVENTATIVE ACTIVITIES AND SUPPORTS BEFORE WE GET TO THE CURE, BUT JUST THINK ABOUT HOW MUCH WE HAVE REDUCED THE IMPACT OF CARDIOVASCULAR DISEASE WORLDWIDE.
I THINK THAT IS REALLY GOING TO MAKE SUCH A TANGIBLE CHANGE, BUT YOU ARE RIGHT.
WE STILL HAVE A LOT OF RESEARCH TO DO.
>> WELL, GOOD INFORMATION HERE.
KINSEY MCMANUS, PROGRAM DIRECTOR FOR THE ASSOCIATION'S DESERT SOUTHWEST CHAPTER, WE THANK YOU SO MUCH FOR YOUR TIME.
APPRECIATE IT.
>> THANK YOU SO MUCH FOR HAVING ME.
HAVE A WONDERFUL DAY.
>>> IN THE NEXT HALF HOUR OF LOCAL NEWS, I'LL TELL YOU WHAT EXPERTS ARE SAYING ABOUT VITAMIND.
.
>>> BANKRUPTCIES IN ARIZONA AND AROUND THE COUNTRY WERE DOWN LAST YEAR DESPITE THE PANDEMIC.
WE ASKED GEORGE HAMMOND OF THE U OF A'S ELLER COLLEGE OF MANAGEMENT WHY BANKRUPTCIES FELL?
GEORGE, GOOD TO HAVE YOU HERE, BANKRUPTCIES IN ARIZONA DOWN BIG TIME LAST YEAR.
WHAT IS GOING ON HERE?
>> YEAH, THANKS, TED.
ARIZONA BANKRUPTCIES FELL BY ABOUT 20% LAST YEAR.
YOU KNOW, A HUGE DECLINE THAT IS A BIT OF A SURPRISE GIVEN WHAT THE ECONOMY WAS GOING THROUGH WITH THE PANDEMIC.
WHAT I THINK IS GOING ON IS IN LARGE PART THE INFLUENCE OF THE CARES ACT ON ARIZONA'S ECONOMY.
THAT INCLUDES THE PAYCHECK PROTECTION PROGRAM, THE ECONOMIC RECOVERY REBATES, THE EXTENDED UNINEMPLOYMENT INSURANCE PROGRAMS, EVICTION MORATORIUM, AND THAT FUNNELED ABOUT $30 BILLION INTO THE STATE ECONOMY.
ARIZONA'S PERSONAL INCOME IN THE SECOND QUARTER OF LAST YEAR, WHICH IS REALLY THE DEPTHS OF THE DOWNTURN, ARIZONA'S PERSONAL INCOME WENT UP BY ABOUT 10% IN THE THIRD QUARTER, SO I THINK THE CARES ACT FUNNELED ENOUGH MONEY INTO THE STATE ECONOMY TO REALLY HELP PEOPLE AND BUSINESSES TO LIMP THROUGH THE DOWNTURN AT LEAST SO FAR.
>> AND ALSO THE ECONOMY WAS ON PRETTY STRONG FOOTING BEFOREHAND?
>> YEAH, ABSOLUTELY.
VERY STRONG GROWTH IN JOBS, POPULATION AND INCOME IN 2019.
ALTHOUGH WE DID TAKE A BIG HIT WITH THE PANDEMIC IN 2020.
>> AND AS FAR AS THE BANKRUPTRIES ARE CONCERNED, ARE WE TALKING PERSONAL BANKRUPTCIES OR BUSINESS BANKRUPTCIES?
>> YEAH, IN ARIZONA AND NATIONALLY THE VAST MAJORITY ARE PERSONAL BANKRUPTCIES, AND THOSE WERE DOWN SIGNIFICANTLY.
>> AND HOW DID WE COMPARE TO BANKRUPTCIES AROUND THE COUNTRY?
>> WELL, OVERALL THE BANKRUPTCY PICTURE LOOKS BETTER THAN EXPECTED ACROSS MOST STATES.
>> WHEN YOU MENTION PANDEMIC RELIEF AND THE CARES ACT AND THESE SORTS OF THINGS THAT HELPED SO MUCH, FOR PEOPLE WHO WERE ALREADY IN THE PROCESS OF BANKRUPTCY WHEN COVID HIT, HOW DID THAT PLAY OUT?
>> WELL, PROBABLY THOSE BANKRUPTCIES CONTINUED ALONG.
IT'S JUST SOMETHING WE DON'T HAVE MUCH INFORMATION ON.
BUT THE THING WE'LL WANT TO KEEP IN MIND AS WE GO FORWARD THROUGH 2021 IS THAT THE FEDERAL RELIEF WILL EVENTUALLY STOP.
IF THEED BIEN PLAN PASSES, THAT WILL EVENTUALLY END AS WELL.
EVENTUALLY THE EVICTION MORATORIUM WILL END, AND THE RENT HAS JUST PILED UP FOR RENTERS.
THAT IS STILL DUE AS ARE THE MORTGAGE PAYMENTS, SO THERE WILL BE A LARGE BILL TO PAY AT SOME POINT, AND THEN I THINK WE MAY SEE BANKRUPTCIES TREND UP AGAIN.
>> WILL THERE BE ALMOST A BALANCING OUT IN THE FUTURE?
>> WE'LL CERTAINLY SEE SOME OF THAT.
IT DEPENDS ON HOW WE RECOVER AND GET BACK TO WHERE WE WERE BEFORE THE PANDEMIC BEGAN.
THE FASTER THE STATE RECOVERS THE MORE MUTED THE BANKRUPTCIES WILL BE.
>> AND THE IDEA OF THIS BIG BANG SHOCK AND THEN RECOVERY, THAT IS NOT REALLY HOW RECESSIONS HAPPEN, DO THEY?
>> NO, IT'S MORE LIKE A NATURAL DISASTER, AND IT HAS HAD VERY DIFFERENT IMPACTS ACROSS INDUSTRIES, AND TYPES OF SPENDING AND TYPES OF INDIVIDUALS THAT ARE IMPACTED.
SO THIS IS -- THIS IS A VERY NEW DEAL.
THE RESPONSE IS VERY NEW AND VERY DIFFERENT FROM PRIOR RECESSIONS, SO WE'RE IN UNCHARTED TERRITORY HERE.
>> AND WILL NO DOUBT BE STUDIED BY PROFESSORS IN THE FUTURE.
CAN BANKRUPTCIES HAVE A BIT OF A LAG TO THEM, REGARDING ECONOMIC CONDITIONS?
>> SURE, IT CAN.
IT JUST DEPENDS ON WHAT IS DRIVING THE BANKRUPTRIES, AND WHAT THE UNDERLYING CHARACTER I.S.IC -- CHARACTERISTICS OF THE BANKRUPTCY ARE.
NEW APPLICATIONS ARE UP DURING THE PANDEMIC AS PEOPLE LOOK TO CHANGE THE TYPE OF BUSINESS THEY ARE PURSUING TO MOVE INTO OTHER ACTIVITIES.
>> SO BOTTOM LINE, THIS REDUCTION IN BANKRUPTCIES IN ARIZONA AND AROUND THE COUNTRY, DID IT SURPRISE YOU?
>> YEAH, I THINK IT WAS A BIG SURPRISE TO PRETTY MUCH EVERYBODY, AND IT IS A TESTMENT TO THE IMPACT OF THE CARES ACT.
>> ALL RIGHT.
GEORGE HAMMOND OF THE U OF A'S ELLER COLLEGE OF MANAGEMENT, THANK YOU, SIR, APPRECIATE YOUR TIME.
GOOD INCITE.
>> THANK YOU.
>>> THAT IS IT FOR YOU.
I'M TED SIMONS.
THANK YOU SO MUCH FOR JOINING US.
YOU HAVE A GREAT EVENING.
♪ >>> COMING UP IN THE NEXT HALF HOUR OF LOCAL NEWS ON ARIZONA PBS, ON CRONKITE NEWS VOTING POLICY CASES ARE BEING HEARD BY THE COURT.
WHAT IS AT STAKE FOR ARIZONA.
AND ON INCREASING NUMBER OF WOMEN COACHING IN MALE-DOMINATED SPORTS.
♪

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