Market Watch

While the nation’s economic future appears hopeful, some Sonoma County business and civic leaders say high interest rates, labor and supply shortages, the cost of living and the need for affordable housing could slow local growth. It comes after a generally upbeat assessment in a Jan. 26 speech by Jerry Nickelsburg, senior economist and director of the UCLA Anderson Forecast, at a Sonoma County Economic Development Board event. “It was good to see science and data provide a deeper insight to many of the headlines and assumptions we have heard around the economy. While there are still warning signs, Dr. Nickelsburg’s presentation provided an optimistic outlook and reinforced that our economy is proving to be more resilient than previously anticipated,” said Ethan Brown, interim executive director of the board. Business loans decline For Summit State Bank President and CEO Brian Reed, much of the economic future depends on the Federal Reserve’s approach toward future interest rate hikes, though he says what they have done so far has already had an effect in the North Bay. “We’re seeing only a couple of new deals and far fewer loan transactions are closing these days due to a lack of confidence and […]

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Metro Orlando’s biggest catering companies are coming off of a solid 2022. These 10 companies reported a combined $44.96 million in Central Florida catering revenue, along with a total catering staff of 800, based on Orlando Business Journal research. They’ve got plenty more lined up for this year as well. Here are some more statistics and happenings with some of this year’s Listmakers: By the numbers These companies have the highest number of catering events planned for 2023. See the companies, the number of events they have on their schedules and some shared what services they offer if they’re hired for catered affairs: Arthur’s Creative Events & Catering: 1,000 events; food, staff, plateware, linens, bartending services Puff n’ Stuff Catering: 500 events Big City Catering Inc.: 325 events John Michael Weddings & Catering: 135 events; food, bartending* services 4Rivers Smokehouse: 110 events; catering set up, food, clean up, bartending* services Sonny’s Franchise Co.: 100 events; choice of meat, three sides, bread and butter, plates, utensils, napkins, sweet tea, lemonade, BBQ sauces, bartending* services Pearson’s Catering: 45 events; drop off, set up, service*, bartending* services A Spoon Full of Catering/Second Harvest Venues: 36 events Char-Don Catering Inc.: 25 events; all […]

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As the first Under Secretary at the Department of Commerce for Minority Business Development, Donald “Don” R. Cravins, Jr. has been tasked with revitalizing the Minority Business Development Agency (MBDA), the agency dedicated to empowering and growing the 10 million minority-owned businesses across the country. The elevated role of the MBDA was mandated by provisions of the Bipartisan Infrastructure Law , which provides the U.S. Department of Commerce with new resources to level the playing field and improve access to capital , contracts, and connections that minority-owned businesses need to grow and contribute to the economy. I recently had the opportunity to speak with Under Secretary Cravins on what he’s done since taking office and his goals for the agency. Below is our discussion. Rhett Buttle : Can you describe the Minority Business Development Agency’s (MBDA) mission? Under Secretary Cravins: The mission of the MBDA is to promote the growth and global competitiveness of minority-owned businesses through the mobilization and advancement of public and private sector programs, policy, and research. MBDA plays a unique role in our government. We are the only federal agency solely dedicated to the growth and global competitiveness of minority-owned businesses. For 54 years, a […]

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Matt Elenjickal, the Founder and Chief Executive Officer of FourKites FourKites Matt Elenjickal, the Founder and Chief Executive Officer of FourKites, has pointed out that “data is the raw fuel of a digital transformation.” But it must be quality data! “Just as any chef will tell you that anything less than the best quality ingredients can render a dish inedible, so too, bad data can turn any data-driven IT effort sour.” When enterprise implementations take longer than expected, almost all do, the amount of time needed to clean up the data is often the leading factor. When the performance of enterprise systems becomes degraded, it is often because the parameters used in the systems are no longer accurate. This is also a data issue. Master data management (MDM) as a critical performance driver for the enterprise. What is Master Data Management? Master data management is the discipline in ensuring data is accurate, accessible, and up to date. Unfortunately, for many departments, the necessary data to operate effectively comes from across the enterprise, it is not generated inside that department. APQC and the Digital Supply Chain Institute (DSCI) have conducted best practice and benchmarking research on MDM. APQC is a […]

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DBS continues to be studied as a transformation role model, with Harvard Business School (HBS) being the latest academic institution to capture the bank’s digital transformation journey in a case study. The DBS case is being taught in HBS’ Master of Business Administration (MBA) programme and its executive education courses by Professor Ranjay Gulati, Paul R. Lawrence MBA Class of 1942 Professor of Business Administration. Gulati was ranked as one of the top ten most cited scholars in Economics and Business over a decade by ISI-Incite. He is also the author of six bestselling books on strategy, organisational effectiveness and leadership in organisations[1]. Gulati said, "Businesses need to transform themselves in order to compete in today’s fast-changing markets. I was interested in studying how DBS transformed itself successfully, and to find out what they did and how they executed it. Through my numerous conversations with the bank’s executives, what came across very strongly were the digital and purpose-focused elements of the transformation and how these permeated every level of the organisation. The willingness from the leadership to resource the change enabled a building up of the workforce’s innovation ‘muscles’ to create a startup culture – quite a feat for […]

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Zaid Al Mashari CEO of PROVEN Solution. Arafat Yousef, MEA Managing Director of Nexans Data Network Solutions. Following last year’s success, LEAP 2023 is all set to kick off its second edition from February 6 – 8, 2023 at the Riyadh Front Expo Centre in Saudi Arabia. Launched under the title “Towards New Horizons,” the region’s most anticipated tech conference is expecting over 900 local and international companies and will focus on Artificial Intelligence (AI), robotics, Web 3.0, the Metaverse, Virtual Reality (VR) and Augmented Reality (AR) solutions, green tech and other ground-breaking technologies from all over the world. Saudi enterprises have been quick to embrace and adopt digital transformation initiatives to achieve the goals set forth in the Saudi Vision 2030. Cutting-edge technologies such as analytics, AI automation, and cybersecurity have facilitated and supported this transition. In such an environment, it is crucial that the IT infrastructure supporting this shift is secure and resilient. “We have seen tremendous progress being made in the areas of digital transformation in government, public sector and private sector in Saudi Arabia and the wider GCC region over the last twelve months. Inside Saudi Arabia, immersive technologies are fundamental in training and education […]

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Senior administration officials, community leaders, and elected officials celebrate the release of more than 30 federal agency action plans to promote safety and equity for AA and NHPIs. WASHINGTON, D.C. – Today, the White House Initiative on Asian Americans, Native Hawaiians, and Pacific Islanders (WHIAANHPI) convened federal government officials and community leaders to mark the release of the Biden-Harris Administration’s first-ever National Strategy to Advance Equity, Justice, and Opportunity for Asian American, Native Hawaiian, and Pacific Islander (AA and NHPI) Communities. At a special virtual event, senior Biden-Harris Administration officials outlined the details of 32 federal agency plans, which build on the Administration’s previous actions to promote safety and equity for AA and NHPIs. Community leaders also discussed additional steps the federal government can take to address critical priorities for AA and NHPI communities, including data disaggregation, language access, and combatting anti-Asian hate. Watch the full event here . WHIAANHPI is also soliciting public feedback on the agency plans here . “From day one, President Biden and Vice President Harris have made clear their commitment to address the needs of underserved communities, including Asian American, Native Hawaiian, and Pacific Islander communities,” said Health and Human Services (HHS) Secretary Xavier […]

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~ Five Programs Available to Expand Business Development and Continue Florida’s Economic Growth ~ Tallahassee, FL – Today, the Florida Department of Economic Opportunity (DEO) announced that $142 million in new capital is available for small businesses and startups through Florida’s State Small Business Credit Initiative (SSBCI). SSBCI, administered by DEO in partnership with Enterprise Florida, Inc., has five programs to serve small businesses that may not otherwise have access to the capital needed to grow their businesses, including very small businesses and sole proprietors. This multi-year initiative is part of Governor Ron DeSantis’ large-scale effort to prioritize workforce development, cultivate a business-friendly environment, and stimulate aggressive economic growth. To be eligible, businesses must be Florida-based and have 750 employees or less. Funding through Florida’s SSBCI programs may be used to fund start-up costs, business procurement, franchise fees, equipment, inventory, and the purchase, construction, renovation, or tenant improvements of an eligible place of business. DEO encourages Florida-based small businesses to sign up for updates on funding opportunities through SSBCI. “Florida’s SSBCI program connects Florida’s small businesses with opportunities for new capital that they may not otherwise be able to access,” said DEO Acting Secretary Meredith Ivey . “DEO is […]

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Laura Perez-Garcia, the owner of Voltage Fashion & Styles Boutique, with Da’Vyana Williams ’24 and Leyla Knight ’24. Inside the walls of Voltage Fashion & Styles Boutique in Worcester’s Main South neighborhood, Da’Vyana Williams ’24 and Leyla Knight ’24 got to work. The social media-savvy students filled a much-needed gap for owner Laura Perez-Garcia, enhancing her store’s website by publicizing inventory and revamping her Facebook and Instagram pages with fresh content. Meanwhile, Perez-Garcia shared with the students her wisdom from seven years of small-business ownership, which will assist them as they explore their own entrepreneurship opportunities after college. This educational give-and-take was part of Entrepreneurial Experience, a course designed by School of Management Professor John Dobson that is the culmination of the entrepreneurship and innovation minor . By emulating an “incubator,” or collective workspace, students in the course develop skills like idea generation, collaboration, market testing, and marketing while working directly with established businesses. The learning model feels more like an internship than a traditional class, allowing students to gain valuable hands-on experience before graduation. Leyla Knight ’24 “It was a challenge to carve out time and think critically about how to follow Laura’s dream and support it,” says […]

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Comment through 5 p.m. Wednesday, March 1 Requests to submit comments or concerns about this amendment should be submitted to Summer Blackhorse. Metro is required to document funded projects scheduled to use federal funds over the next four years. The current cycle is documented in the 2021-24 Metropolitan Transportation Improvement Program . Metro is in receipt of the proposed MTIP formal amendments: The purpose of this amendment is to make the necessary funding corrections, increases and fund reprogramming to the 2021-26 MTIP. The project submitted for amendment in this amendment includes: Advance the Regional Travel Options program and funding, which implements strategies to help diversify trip choices, reduce pollution and improve mobility. Advance the Safe Routes to School program and funding, which aims to improve the youth’s ability to safely, affordably and efficiently get to and from school by walking, biking and transit. Combine funds to support the Corridors and Systems Planning program, which emphasizes the integration of land use and transportation to determine regional system needs, functions and desired outcomes. Split funds to contribute toward the development of prioritized transportation improvements and the funding strategy for the region’s next priority corridor.

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