My Friday column is divided into two sections. The first uses the long-leading, leading, and coincidental format developed by Arthur Burns and Geoffrey Moore to determine the current economic trajectory. The second looks at the markets.
Financially, the economy is in good shape:
The Fed has been pumping cash into the economy (left). The Fed’s credit market support programs have lowered financial stress; the BBB yield (right) has dropped to 5-year lows.
The earnings picture is improving — but remember that word is clearly relative (emphasis added):
The expectation is for total S&P 500 earnings to decline -22.8% from the same period last year on -2.9% lower revenues. This would follow the -32.3% decline in Q2 when economic and business activities came to a halt as a result of the pandemic-driven lockdowns.
The earnings outlook has been steadily improving since the start of Q3, as economic and business
YORK COUNTY, Va. (WAVY) — Friday was a sunny day in Hampton Roads, just like three out of every five days throughout the year. People who are converting to solar are leveraging that fact to save money and help the environment.
The science of solar appeals to homeowner Gwyn Williams, a scientist himself. He powers his 1850 farmhouse in Yorktown with 21st century technology.
“There’s $100 worth of energy that lands on that roof every month from the sun, so the question is, can you harvest it?” Williams said.
For him, the answer to that question was the co-op known as Solar United Neighbors. That’s where he learned about solar, finding an installer, and the new meaning for the term “purchasing power.”
“They can gather about 60 customers at once, so you get volume discounts on panels,” Williams said.
Williams used to pay $5,000 a year for heating oil
Now Yelp, the platform that has more than 200 million crowdsourced reviews, announced Thursday that it will start flagging businesses that have been accused of racism, a new practice that some critics say could be abused by users.
In a blog post by Noorie Malik, the vice president of user operations, Yelp announced it will affix a “Business Accused of Racist Behavior” alert on accounts only when there is “resounding evidence of egregious, racist actions from a business owner or employee, such as using overtly racist slurs or symbols.” The alert will always be accompanied by a link to a news story from a credible media outlet, Malik wrote.
“As the nation reckons with issues of systemic racism, we’ve seen in the last few months that there is a clear need to warn consumers about businesses associated with egregious, racially-charged actions to help people make more informed spending decisions,” Malik
Law Offices of Howard G. Smith reminds investors of the upcoming December 1, 2020 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased Aurora Cannabis, Inc. (“Aurora” or the “Company”) (NYSE: ACB ) securities between February 13, 2020 and September 4, 2020, inclusive (the “Class Period”).
Investors suffering losses on their Aurora investments are encouraged to contact the Law Offices of Howard G. Smith to discuss their legal rights in this class action at 888-638-4847 or by email to email@example.com.
On September 8, 2020, the Company announced that it expected to record up to $1.8 billion in goodwill impairment charges in fourth quarter 2020. According to Aurora’s press release, these charges included “up to $90 million” in fixed asset impairment charges “due to production facility rationalization, and a charge of approximately $140 million in
Alongside the discussions around how the pandemic is changing consumer behavior, how to solve the current inventory shortage and how the economic forecast for 2021 is shaping up, was a conversation much bigger than mortgage and these boom times. It was a conversation focused on how lenders and companies can – and should – create a business strategy during social upheaval.
Moderated by Adam Constantine, owner and CEO of Ace Creative, the HousingWire Annual panel featured Trina Scott, chief diversity officer at Rock Ventures; Montell Watson, director of corporate strategy at Movement Mortgage; and Kenon Chen, executive vice president, corporate strategy at Clear Capital. Together, the four panelists engaged in a candid conversation on how they and their company executives have responded to the global pandemic and social unrest following the murder of George Floyd by police in Minneapolis.
Businesswoman, philanthropist, and television personality Bethenny Frankel is known for her bold and outspoken nature. Over the years, she has taken many calculated risks as an entrepreneur, investor, and lifestyle influencer. One of the best ‘risks’ has been speaking up as a woman in business. Now with much success, Frankel has taken on a new venture as the host of the “Just B with Bethenny Frankel” podcast which takes a nontraditional approach to business and lifestyle conversations with business luminaries.
To date, Mark Cuban, Television personality, Entrepreneur, and Owner of the Dallas Mavericks; Bozoma Saint John, Chief Marketing Officer of Netflix; and Paris Hilton, Entrepreneur & DJ have joined Frankel on her show.
When it comes to speaking up, Frankel said that there are many ways to do business. Being fearless in her decision making and advocating
Political leaders from the North of England have warned the chancellor’s latest Covid rescue package may “not be enough” to save jobs and businesses.
Rishi Sunak earlier announced the state will pay two-thirds of the wages of staff whose employers are legally forced to close over the coming months.
He said he wanted to work with regional chiefs to help them through the winter.
But the mayors of Greater Manchester, Liverpool and Sheffield said they still feared widespread “hardship”.
And a group of North-East council leaders are set to oppose any plans to close pubs or other hospitality venues in the worse-affected areas, which could be announced as early as next week.
The government is poised to introduce a new three-tiered framework of restrictions for England after coming under pressure to simplify the patchwork of different restrictions in force across much of the North.
“Communities have always turned to Yelp in reaction to current events at the local level. As the nation reckons with issues of systemic racism, we’ve seen in the last few months that there is a clear need to warn consumers about businesses associated with egregious, racially-charged actions to help people make more informed spending decisions,” Malik wrote.
But some people are concerned that the Yelp label could be misused and incorrectly ostracize businesses who may not deserve it.
“The problem with this is that people may use it to cancel businesses unjustifiably,” one Twitter user wrote in response to the news Friday.
Yelp said it has a system in place to try to prevent that from happening. The company’s user operations team already investigates and disables reviews or puts alerts on business pages if it finds that the business is seeing a huge uptick in reviews in response to news
President Trump loves to brag when the stock market goes up, as if gains are a reflection of his personal awesomeness. But the market is now signaling something ominous for Trump: a surprisingly high level of comfort with Joe Biden, if he beats Trump in the 2020 presidential race.
Wall Street weathervane Goldman Sachs issued a report this week declaring that a Biden win and a Democratic sweep in November could be good for the economy, and bullish for stocks. The reasoning is straightforward. If Democrats win the White House and Senate and keep the House, the odds of a massive stimulus bill in early 2021 are considerably higher than if Republicans are able to stand in the way. A stimulus bill could be as large as the $3.4 trillion package the House passed in May, which is at least three times more spending that Republicans seem willing to accept.