Whiplash: All at once, a steady US economy screeches to halt
By PAUL WISEMAN, ALEXANDRA OLSON and JOYCE M. ROSENBERG
AP Business Writers
WASHINGTON (AP) — Three weeks ago, EmpireCLS was heading toward a second straight year of record business. A car service company in New Jersey, Empire couldn't even find enough chauffeurs and office workers to meet its needs.
Now? With stunning speed, business in the United States — as well as in Europe and elsewhere — has collapsed in the face of the coronavirus and warnings for everyone to stay home. Suddenly, no one needs a chauffeur.
"We went from full throttle to 90% revenue loss in three weeks,'' said CEO David Seelinger. "We've been through 9/11. We've seen recessions. We've never seen anything like this.''
Seelinger spent last Sunday laying off 750 of his 900 employees.
"It was the most difficu