Market Watch

The Federal Reserve Bank of Cleveland has named four Greater Cincinnati leaders to a locally focused business advisory council. The bank, one of 12 Federal Reserve banks around the country, has eight Business Advisory Councils, one in each of the eight metro areas in its district, including Cincinnati, Dayton, Cleveland and Columbus. The new members named to the Cincinnati Business Advisory Council are: Brendon Cull , president of the Cincinnati USA Regional Chamber Dil Gruffydd , CFO of the Cincinnati/Northern Kentucky International Airport Lisa Sampson , senior vice president at PNC Financial Services Group in Cincinnati and managing director of PNC Private Bank Barb Smith , president of Cincinnati-based Journey Steel The local council had nine members before the new additions. Cull highlighted the important role the council plays in the local economy. “The Business Advisory Council is one way the Federal Reserve works to stay connected to what’s happening with our region’s economy and how it is affecting businesses,” Cull told me. “I’m looking forward to bringing that perspective and to collaborating with business leaders in the region.” Sampson said the council “plays a vital role in helping understand the economic conditions and outlook for our region and […]

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Small business owners are nearly unanimous — the federal government should be doing more to tailor programs to small businesses. A new Goldman Sachs 10,000 Small Businesses Voices survey shows that 96% agreed with the idea the federal government should be doing more. About 70% of business owners gave the federal government a “C” grade or below on the effectiveness of its programs, services and tax credits, according to the survey. Additionally, 85% give the government the same bad grade for its efforts to communicate with small business owners about the essential resources and services available to them. So what is the solution? Overhauling the Small Business Administration, which 94% of small business owners said needed to be reauthorized by Congress and modernized. The last time the agency was officially reauthorized by Congress was in 2000. “During the pandemic, small businesses like mine had to innovate and remain nimble to survive and thrive,” Sydney Rieckhoff , owner of Almost Famous Popcorn with locations in Cedar Rapids and Des Moines, Iowa, and a member of the Goldman Sachs 10,000 Small Businesses Voices community, said in a press release announcing the survey results. “Unfortunately, the historic challenges presented by the pandemic […]

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CHILLICOTHE― As a child, Jennifer Szatkowski said she had family friends that would sell cotton candy at the Ross County Fair. She remembers standing on a milk crate to watch the cotton candy spinning. She never imagined she would be selling the sweet treat herself. Flossy Sweet Tooth puts a spin on cotton candy, featuring 30 unique flavors, including iced coffee, cinnamon, peach, birthday cake and more. Szatkowski said she wanted to master cotton candy to add something unique to Ross County. In addition to traditional cotton candy, Flossy’s also offers "Flossy Crunch," a condensed cotton candy similar to rock candy that features a variety of flavors in each piece that melts in your mouth. Szatkowski said you can also add the treat to your tea. Flossy’s also offer cotton candy cakes, a cake made completely of cotton candy and sprinkles that can be cut and served like a traditional cake. Recently launching in December, Szatkowski said she didn’t expect her first business to develop so quickly. She said partnerships with local businesses, like Hirsch’s Fruit Farm and High Five Cakes, helped spread the word about her new product. "How amazing is that for other small businesses to come […]

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getty The restaurant sector was among the most impacted during the Covid-19 pandemic as it faced strict social distance requirements, lengthy lockdowns and strict hygiene measures. These challenges, however, also forced owners to switch to digital solutions faster, speeding up what could have been a much longer process toward digitalization. Digitalization and process automation have helped many restaurants not only emerge from the crisis but also to step into a new development phase in post-crisis times. In fact, automation has been shown to help restaurants save money, reduce storage costs and deliver the freshest and highest quality food. In this article, I’ll look at how four digital technologies can help improve the way the hospitality industry does business and what those in the industry should know about implementation. Online Menus Previously, menus were only available in restaurants. During the pandemic, though, restaurants had to adhere to new hygiene rules and terms of engagement. Because of this, paper menus became rudimentary, and restaurants replaced paper menus with online versions. By combining UX/UI designers’ and restaurant art managers’ efforts, menus have become both more user friendly and accessible from anywhere via QR codes, Google Maps or the restaurant website. To maximize […]

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Copy This Embed Code: Ad The Kansas City Chiefs are making their third Super Bowl appearance in four years and the success of the team is driving up demand for Chiefs-inspired looks. “Anything that says Chiefs, even hats, or if it’s red, it is just flying out the doors," said Hannah Greer, store manager at Junque Drawer Boutique . The Olathe small business sells a variety of Chiefs and Kansas City items, but Greer says it’s hard to keep several of her products in stock as items continue to sell out fast. She says she’s routinely contacting local vendors to keep up with demand. “We come off Christmas and we expect a low sales volume, but the past three years have been four to five times what we normally do," Greer said. But some fans are deciding to integrate their love for the Chiefs in every day looks. Legends Outlets says retailers have noticed apparel and accessories in Chiefs colors are this season’s most sought out look. “Anytime Kansas City teams do well, especially our Chiefs, the Kansas City pride swells and it brings shoppers out," explained Stacy Scheelk, Property Manager for Legends. "Everyone wants to showcase the red […]

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Gary Fowler is a serial AI entrepreneur with numerous startups and an IPO. He is CEO and cofounder of GSDVS.com and Yva.ai. getty If you’ve checked any social media platforms, forums or publishers recently, you’ve likely seen how the entire media world has been inundated with ChatGPT reviews, explanations and use cases. The generative AI technology from OpenAI is taking the world by storm—and there is no stopping it. Now, you might ask me, “Gary, AI has been in the news for almost a decade now. How is this time different from any other time we’ve seen a new advancement in this technology glorified? The reality is this might be the very first time an AI technology of this sophistication has achieved mass adoption on the consumer level, making full strides toward becoming mainstream and fully integrated into the users’ daily lives. What this means is that if a business isn’t already considering ways to integrate GPT-3 technology into their workflows (in addition to testing new processes out), they are already falling behind. Simply ignoring how generative AI—from ChatGPT to DALL-E—has joined the global discourse is a large miss on any business’s behalf, and if there has ever been […]

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Sun-Times file Illinois is one of three states that charges income tax but excludes retirement income. Ending the exclusion for people with $100,000 or more in retirement income could net $1.8 billion a year, a new report finds. Illinois lawmakers have shown fiscal discipline lately, but politically toxic tax increases must be considered to fully fund pensions and improve the state’s credit rating, senior business leaders in Chicago said in a report Wednesday. The report by the Civic Committee of the Commercial Club of Chicago said it could support income tax “surcharges” for people and companies, lasting 10 years, provided the additional revenue is earmarked mostly for pensions. It was a notable message from a group that opposed Gov. J.B. Pritzker’s plan for a graduated income tax, with higher rates for higher incomes. The Civic Committee cited Illinois’ history of “fiscal mismanagement” in opposing the plan in 2020. But the finances have improved, and the business leaders can now back higher taxes if there are “lockbox” protections for the money, said Derek Douglas, president of the Civic Committee. Pritzker’s graduated income tax was voted down in a referendum. Among other moves to be considered is a broadening of state […]

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Sam Jackson will lead the ag-based molded fiber company’s supply chain and sustainability efforts VONORE, Tenn., Feb. 8, 2023 /PRNewswire/ — Genera , a manufacturer of domestically sourced and produced ag-based pulp and molded fiber products, announced today that it has promoted its former vice president of business development, Sam Jackson, to the role of chief strategy officer to manage the company’s supply chain, sustainability, and strategic planning activities. Continue Reading Sam Jackson will oversee the expansion of Genera’s supply chain organization, manage its corporate communications and oversee its stakeholder management as the company’s new chief strategy officer. Jackson will oversee the expansion of the company’s supply chain organization, including its feedstock supply operations, manage corporate communications, and oversee stakeholder management. Additionally, he will manage and advance the company’s sustainability efforts in both feedstocks and manufacturing. "For the past 14 years, Sam has served in various leadership roles for Genera and he has proven himself to be a model of dynamic leadership," said Dr. Kelly Tiller, CEO of Genera. "His expertise in the production of annually regenerative biomass feedstocks and renewable carbon, and in the sustainable utilization of those materials makes him the right choice for the job as […]

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Meredith and Julia have swapped tips on everything from pricing to fighting off self-doubt as they’ve grown their own craft companies. Welcome to Money Talks, a series in which we interview people about their relationship with money, their relationship with each other, and how those relationships inform one another. Meredith Artyukhina is 31 years old and lives in Washington, DC. Julia Beaumier is 27 years old and recently moved from DC to Grand Rapids, Michigan. Meredith runs CapitalStitchCo , an embroidery kit business, and Julia runs a handwoven home decor business called Jetta&Jules (Jetta is her dog). These business besties work together to improve their practices and increase their sales, to the point where both women are earning low-five-figure incomes on their side hustles. Here’s how they got started — and what they’re hoping to do next. This conversation has been edited and condensed. Meredith: I have ADHD, and I think of it like a superpower. I can hyperfocus on an activity for a long period of time. During the height of the pandemic I spent months learning about embroidery, and then I started making my own patterns. The activity was such a relief to my anxiety, and it […]

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The president took credit for strong job growth and his legislative agenda that’s boosted investment in infrastructure and clean energy projects. “I will make no apologies.”Pool photo by Jacquelyn Martin-Pool/Getty Images. Biden picks his battles President Biden delivered a State of the Union address to Congress on Tuesday night that was filled with dramatic moments, meant in part to jump start his 2024 re-election campaign. He also used the speech to press his economic priorities, from bolstering American manufacturing to extending his climate efforts. How far he advanced his causes, however, remains to be seen. Mr. Biden defended his record on the economy. He took credit for falling inflation and strong job growth, and listed promised benefits from his sweeping legislative agenda, including infrastructure, clean energy (even if he did acknowledge , “we’re still going to need oil and gas for a while”) and manufacturing laws that will pour trillions into the economy. He also urged Congress to back initiatives including raising a billionaires tax on the wealthy; expanding a measure in the Inflation Reduction Act that caps the cost of insulin at $35 a month; renewing the expanded child tax credit; and expanding Medicaid and affordable child care. […]

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