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President Trump said yesterday that Vice President Mike Pence would coordinate the government’s response to the coronavirus. Despite mounting criticism, the president has played down the danger of a widespread U.S. outbreak, the NYT reports.

Stocks are down again today, with U.S. futures suggesting that a sixth consecutive daily decline awaits. Wall Street strategists say the situation could get worse before it gets better.

Yet shares in companies that cater to people staying home are outperforming — think disinfectants (Clorox), canned food (Campbell Soup), exercise equipment (Peloton) and videoconferencing tools (Zoom) — as are others like drug makers developing vaccines (Gilead) and gold miners who dig up the stuff hoarded by people freaked out about the economy (Newmont Mining).

Companies are restricting travel and sending workers home, and rapidly reducing their expectations for sales at any business that relies on China as a buyer or supplier. (Microsoft is one of the latest to sound the alarm.) Quarantines and travel bans are particularly bad for deal makers who rely on in-person schmoozing, with bankers prevented from meeting clients. The problem goes beyond Asia — although it’s especially acute there.

Retail titans are big fans, stemming from Mr. Chapek’s stints as head of Disney’s DVD and consumer products businesses. This is a good sign for Disney as it pivots to selling content directly to consumers via its nascent streaming service instead of relying on cable networks.

  • Updated Feb. 26, 2020

    • What is a coronavirus?
      It is a novel virus named for the crownlike spikes that protrude from its surface. The coronavirus can infect both animals and people and can cause a range of respiratory illnesses from the common cold to more dangerous conditions like Severe Acute Respiratory Syndrome, or SARS.
    • How do I keep myself and others safe?
      Washing your hands frequently is the most important thing you can do, along with staying at home when you’re sick.
    • What if I’m traveling?
      The C.D.C. has warned older and at-risk travelers to avoid Japan, Italy and Iran. The agency also has advised against all nonessential travel to South Korea and China.
    • Where has the virus spread?
      The virus, which originated in Wuhan, China, has sickened more than 80,000 people in at least 33 countries, including Italy, Iran and South Korea.
    • How contagious is the virus?
      According to preliminary research, it seems moderately infectious, similar to SARS, and is probably transmitted through sneezes, coughs and contaminated surfaces. Scientists have estimated that each infected person could spread it to somewhere between 1.5 and 3.5 people without effective containment measures.
    • Who is working to contain the virus?
      World Health Organization officials have been working with officials in China, where growth has slowed. But this week, as confirmed cases spiked on two continents, experts warned that the world was not ready for a major outbreak.

• Doug McMillon, Walmart’s C.E.O., said, “Bob has always been someone we can trust to deliver on what he says.”

• Brian Cornell, Target’s chief, said Mr. Chapek had a “deep understanding of what Disney fans really love about their brand.”

Brooks wraps it up for us:

The timing of the announcement feels suspicious to a lot of people. Something else has to be afoot, right? But everyone I talked to inside and outside of the company, including people who are not fans of Bob Iger (they exist), insisted that nothing prompted this beyond a need to get succession moving — Disney’s annual meeting is March 11 — and that the handoff is less abrupt than it seems at first blush.

Mr. Iger is not going anywhere for another 22 months. Full stop. He will be overseeing all of Disney’s “creative endeavors,” which is basically everything that really matters, as executive chairman. Bob Chapek essentially has training wheels on for the next two years.

Why not just elevate Mr. Chapek to chief operating officer or president, two jobs that currently don’t exist at Disney and would signal that he is the heir apparent? Because that has not worked out particularly well for Mr. Iger in the past. He chose that route for Thomas O. Staggs, who ended up leaving the company in 2016. It’s really hard to shine when you have no direct reports and a larger-than-life boss.

People also forget that Mr. Iger’s run as president of Disney under then-C.E.O. Michael Eisner was torturous at times. Mr. Iger sometimes found himself undercut by division leaders, who would go straight to Mr. Eisner. By making Mr. Chapek chief executive right out of the gate, that kind of end run is harder.

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