Driven by the latest round of stimulus checks approved in late December, retail sales surged 5.3% in January from a monthly decline of 0.7% in December, the Commerce Department reported on Wednesday. The gains, which smashed economists’ consensus forecast of a 1.1% increase, were particularly strong in ... READ MORE >
Election 2020
5 trends from defense technology companies’ Q3 earnings calls
Defense technology businesses spent Q3 2020 shoring up their supply chains in the wake of the COVID-19 pandemic. These businesses simultaneously navigated the start of pandemic recovery, shifting election expectations and a continuing resolution. Top executives in the defense technology space ... READ MORE >
5 trends from government services companies’ Q3 earnings calls
Government services businesses have weathered the COVID-19 storm better than many other industry verticals but have still grappled with their own uncertainties. These businesses navigated the start of pandemic recovery, shifting election expectations and a continuing resolution in the third quarter of ... READ MORE >
Election economics: Biden victory projected as Senate hangs in the balance
Joe Biden’s projected victory implies a possible era of significant changes to address the pandemic, expand domestic health care, modernize the nation’s infrastructure and adopt expansionary fiscal policy—all of which will define the economic policy landscape over the next two years. However, the party ... READ MORE >
An inconclusive outcome: Election produces no winner, expected court challenge
The American election produced no clear outcome in the race for the presidency on Tuesday night, and instead brought uncertainty, financial market volatility and political risk across the business world. Based on market action overnight, one observation is clear: Markets prefer neither Democrats ... READ MORE >
Small and medium size firms in crisis: A message from the real economy
The condition of small and medium-size firms implies a potential inflection point in the nascent economic rebound following the near shutdown of the economy last spring. Without further reform and support of the signature Paycheck Protection Program (PPP)—which provided a vital lifeline to those firms ... READ MORE >
RSM’s exclusive MMBI survey reveals how the Main Street Lending Program can be improved
Growing uncertainty surrounding another round of fiscal aid in Washington has reignited concerns about the Main Street Lending Program and whether it can help small and midsize organizations find bridge financing as the COVID-19 crisis continues. The program remains woefully undersubscribed. ... READ MORE >
Without adjustments, Main Street Lending Program is unlikely to be mainstream
Unlike the strong demand for the Paycheck Protection Program, which saw $350 billion in aid snatched up in the 13 days following its debut, interest in the Main Street Lending Program has been more muted; less than $100 million in aid was requested in the program’s first month, according to data from the ... READ MORE >