The partnership between The National Restaurant Association's Education Foundation and "Diners, Drive-Ins and Dives" host and celebrity chef Guy Fieri went live on April 2 and crashed within minutes due to high levels of interest.
$500 Cash Grant
The Education Foundation's employee relief program is designed to raise cash for laid off restaurant workers, according to Nation's Restaurant News.
Since it was announced in March, the fund has raised $10 million through the partnership with Fieri. Some of the corporate sponsors include
Uber Technologies Inc's UBER Uber Eats and Tyson Foods, Inc.'s TSN Tyson Food Service.
Eligible applicants can receive $500 in cash.
After crashing due to demand, the program expects to reopen for additional applications no later than Friday, according to a Monday update.
In the meantime, it is reviewing applications that were successfully submitted and making contact with nearly 13,000 people who began the process but were unable to complete due to technical reasons.
Protectionist Policies
The food industry across Asia learned its lessons from prior pandemics and built a sufficient stockpile of wheat, rice and other staples, Food Industry Asia executive director Matt Kovac said on CNBC's "Capital Connection."
So far, this has resulted in little to no price pressures on food across the region.
But what could pressure food prices moving forward is if countries start to enact protectionist policies, he said. This "knee-jerk reaction" is being seen across Southeast Asia and is "exactly what we don't want," Kovac said.
"As long as we can have an open dialogue with as many markets as possible and keep the flow of trade going then we will be fine."
Dollar-Cost Averaging On Coca-Cola
CNBC contributor and former head of global equities research at Nuveen Stephanie Link said she has been buying some stocks over the past few weeks.
Buying shares on multiple occasions in the current volatile environment is consistent with a dollar-cost averaging strategy.
One of the stocks Link mentioned Tuesday on CNBC's "Halftime Report" is Coca-Cola Co KO. She cited its high-quality balance sheet, attractive market share and good dividend yield.
Coca-Cola is one of several higher-quality stocks that got "thrown away" by investors along with "more speculative names," she said.
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