Market Watch

HARTFORD — More than 200 members and supporters of the Hartford Chamber of Commerce gathered Thursday evening at the Chandelier Ballroom to celebrate 50 years of commitment and involvement to the city. The evening’s theme was “Hollywood Walk of Fame” and included a red carpet into the room. The Chamber of Commerce was created in 1922 with a mission to support and nurture growth in the community. The 12-member board of directors is elected annually from its membership. The organization is operated by a full-time staff and supported with efforts from a variety of volunteers, including members of the Chamber’s Ambassador Club and committee members, who help sustain and support programs and services. The evening was sponsored by O’Meara Law Offices, Forte Financial Advisors and the Hartford Area Chamber of Commerce. Additional sponsors included the Hartford Business Improvement District, Keller Inc., Creations 101 and HED Controls Inc. The program was led by outgoing Executive Director Dana Osmanski and WTKM Radio’s Dave Stout was master of ceremonies. “I’m humbled by so many who have expressed thoughts, enabling me to do the job well. I’m looking forward to working with the board and staff, who is amazing and so highly spoken […]

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Business team having meeting getty Things are tough out there for many businesses right now, and they may be getting tougher. The “R word” is on everyone’s lips, although many are reluctant to speak it. Not the World Bank, though: It started 2023 with the dire prediction that a global recession is at hand. It doesn’t matter whether you occupy a B2B, B2C, DTC, or any other business category. When consumers pull back on spending, companies are forced to do so as well. There’s a tendency to draw inward during hard times with the hope that you can simply ride them out. Yet history has shown that the intrepid can not only survive uncertain economic times, but thrive. Instead of tucking themselves away, they tuck and roll. Think Airbnb and Warby Parker. Just trying to survive isn’t good enough. Neither is forging ahead with a strategic plan developed when the economy was growing at a fast clip and global pandemics were events you read about in history books. Companies that hit the sweet spot between the two extremes may surprise themselves with their performance. Here are a few ways you can be a risk-taker in a hunker-down economy. Understand […]

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You always have to start somewhere. In the case of many a successful startup founder, that means working a day job before they’re ready to strike out and start their own new business. So, where are the best places to work for future founders? Multiple big-name companies top the list, according to a new report from small-business lending platform OnDeck, which examined large U.S. companies with high rates of former employees launching their own businesses. Those big names include like management consulting giant Bain & Company, financial services behemoth Goldman Sachs and even Twitter, the social media platform recently acquired by Elon Musk. Boston-based Bain tops the list with 8.13% of former employees going on to become founders, the highest of any company in OnDeck’s analysis. Notable alumni of Bain & Co. who went on to entrepreneurial success include Zynga founder Mark Pincus and Intuit co-founder Scott Cook. Here’s the top five: Bain & Company: 8.13% of former employees have gone on to found their own business. Oliver Wyman: 7.93% McKinsey & Company: 7.75% Strategy&: 7.44% Universal Music Group: 7.39% To determine its rankings, OnDeck started with a list of the 100 biggest employers in each state, based on […]

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Matt Simmons, managing partner of Maxwell Hendry and Simmons, a local real estate appraisal firm, recently shared his views on how Lee County is responding to the economic impact of Hurricane Ian. "Anytime you go through something like this, you kind of look for some level of past experience to reference back to," Simmons said. "We don’t really have territory to measure this on." Simmons then addressed other factors that impact this region’s recovery. "We can be, you know, performing really well as an economy, and have all the right things in place," he continued. "But a lot of what drives our tax dollars is what’s happening at a macroeconomic level outside of our market. And so I think it’s reasonable to say we were seeing already for a few months prior to storm, some of the macroeconomic factors that have already been taking place in other areas." So, could Lee County have been better prepared economically to absorb the blow thrown by Hurricane Ian? "If there was ever a county that you would look at and say, ‘gosh, you know, there as great as they can be’. I think it’s the Lee County, based on what just happened. […]

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Tom Still, President of the Wisconsin Technology Council The Governor’s Annual Business Plan Contest tries to help start-up entrepreneurs in technology connect with mentors and possible sources of money. The deadline for entering this year’s contest is coming up fast—Tuesday night, January 31st. The Wisconsin Technology Council, official advisors to the Governor and legislature on science and tech issues, runs the contest. Council President Tom Still says the tech sector in the state has its challenges, but continues to grow. Still told WUWM’s Chuck Quirmbach that what’s defined as a technology job, is changing. The deadline for entering the Governor’s Annual Business Plan Contest is Tuesday, Jan. 31, at 11:59pm.

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Heavenly team members were busy digging out Tamarack lift and others following heavy snowfall. SOUTH LAKE TAHOE, Calif. — Lift lines are long and businesses are reaping the benefits of abundant snowfall at Lake Tahoe. With plenty of snow falling in the basin from a series of storms in December and January, resorts are seeing tons of skiers and riders while dealing head-on with difficulties. Palisades Tahoe is reporting great business since the slow down of the recent storms, and are trying to push people to come up midweek in order to avoid longer lines and delayed wait times. “Now that the storms have kind of calmed down, people are able to get up here,” said Palisades PR Manager Patrick Lacey. “We really want to push people to be skiing midweek. Take a sick day here and there, because obviously, parking can be an issue here … or, if they do come on the weekend, come early and stay late. Stay in the Village, come early, grab breakfast here, you know, you’re going to have a much more enjoyable day if you do that.” Heavenly Mountain Resort Director of Communications Sara Roston reported that Vail Resorts are working tirelessly […]

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887×225 image ad Jasper County Precinct 1 Constable Jimmy Hensarling warned over the weekend that a scammer is posing as a local business, and he says the scammer tried to target him along with other people. According to Hensarling, he and others received a Facebook message claiming to be from Pop’s Kajun Kitchen and saying that they were the winner of a weekly giveaway. However, Hensarling said the food outlet’s Facebook page had been hacked and the scammer was sending out the erroneous messages. According to Hensarling, if you clicked on the link in the message, it would take you to a website that wanted you to register your personal information, including credit card information. Hensarling said Pop’s Kajun Kitchen is aware of the problem and they were working to correct it. He also warned those who receive the message to not click on it, and definitely do not enter your personal details or credit card information. 300×206 image ad

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Closing out the first month of the regular session, legislative leaders have no clarity on Gov. Sarah Sanders administration’s price tag for education, public safety or healthcare, much less a blueprint for the state’s anticipated $6 billion balanced budget. Sen. Jonathan Dismang, R-Beebe, chairman of the Joint Budget Committee, said he’s waiting to see first drafts of new school policy and prison and sentencing reform legislation. “I haven’t seen the education plan, so I don’t have any ballpark figures on what that’s going to cost, what we’re going to do. We do know that there is a portion that’s going to be for increasing teacher pay. Again, that’s going to have a direct impact. But again, I have no idea, if I’m just being transparent, on what that’s going to look like, and that’s why you see me being hesitant in regards to the budget,” he said. This week, Democrats released a plan to provide increases for teachers and non-classified personnel. It carries a roughly $400 million price tag. Dismang said prison construction – which could range from 1,500 to 5,000 new beds – will likely come from one-time surplus funds, but operations will have to be factored into […]

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PITTSBURGH (KDKA) – Workplace bullying is on the rise and younger workers, especially Gen Z, are the hardest hit. A workplace expert tells me there has been a 13 percent increase in workplace bullying since the pandemic began and about one-third of employees said they have observed that bullying, which is an increase of 20 percent from before the pandemic. Erica Salmon Byrne, the CEO of Ephisphere, said younger employees are the most likely victims and most likely to report the bullying. The growth of social media is considered a major contributor. "It is sometimes easier to be a jerk behind the keyboard than it is to be a jerk to somebody’s face, and so we think that’s a piece of it," she explained. "The other piece of it is the incoming population of workers, the Generation Z employees that are coming out of college now and joining the workforce, they are considerably more likely to report having observed bullying." You can see my full interview on the Sunday Business Page above! In: Pittsburgh Jon Delano Jon Delano is a familiar face on KDKA, having been the station’s political analyst since 1994. In September 2001, Jon joined KDKA full […]

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Stocks rallied, with the S&P 500 climbing 2.5% last week. The index is now up 13.8% from its October 12 closing low of 3,577.03 and down 15.1% from its January 3, 2022 closing high of 4,796.56. Stay ahead of the market While the U.S. economy has been cooling off for months, the hard economic data shows growth has been pretty resilient . On Thursday, we learned GDP in Q4 rose at a 2.9% rate. However, if you’ve only been reading sentiment-oriented business surveys (i.e., the soft data), you might think things are in much worse shape than they really are. The ISM Manufacturing surveys have signaled contraction in November and December. The S&P Global U.S. Composite Output surveys have been signaling contraction since last July . Similarly, regional business surveys from the New York Fed , the Philly Fed , and the Dallas Fed have reflected ugly declines in activity. This dynamic is not new to TKer’s paid subscribers. See: Perceptions on the economy have disconnected from reality � Goldman Sachs economists explored this conflict between the hard and soft data in a new research note titled: “Making Sense of Scary Survey Data.” “While contractionary soft data in January […]

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