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A SENSE OF BUSINESS OPTIMISM

Posted by Tim Bryce on January 25, 2017

BRYCE ON BUSINESS

– Is a go-go era in the offing?

(Click for AUDIO VERSION)
To use this segment in a Radio broadcast or Podcast, send TIM a request.

During President-Elect Trump’s news conference held January 11th in New York, he made the observation there is a new sense of business optimism in the country. He pointed at the news regarding Fiat Chrysler and Ford building new plants here in the United States as opposed to Mexico. News reports regarding companies such as Carrier, who will remain in Indiana, is also welcomed as are other reports of companies returning home.

In all likelihood, Trump was pleased with the recent Bloomberg report, “U.S. Small-Business Optimism Index Surges by Most Since 1980.” The report notes a significant index jump as reported by The National Federation of Independent Business’s. The NFIB reported respondents to the survey expect better business conditions in the next six months as the Trump era begins.

The Bloomberg report is re-enforced by another study recently produced by Gallup reporting a new high in people optimistic about the potential for good jobs in the United States, the highest in 15 years of Gallop polling.

Most of this appears to be a result of the election of Donald Trump and his “Big Stick” approach encouraging businesses to stay in this country. Even before his election, he took steps to reach out to businesses and encourage them to stay while promising new economic policies are in the offing. It is no small wonder this is trickling down to the American people who are beginning to regain confidence in business.

Another area of change is in “Right to Work” legislation where Kentucky recently became the 27th state to adopt such legislation. Other states include: Alabama, Arizona, Arkansas, Florida, Georgia, Idaho, Indiana, Iowa, Kansas, Louisiana, Michigan, Mississippi, Nebraska, Nevada, North Carolina, North Dakota, Oklahoma, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia, West Virginia, Wisconsin, and Wyoming. Because states such as Kentucky, Michigan, and Wisconsin recently enacted such legislation, it may very well influence other Midwest states such as Ohio, Pennsylvania, Illinois, and Missouri.

“Right-to-work” laws are highly controversial as they are perceived as a threat to labor unions. Back in 2012, when Michigan became the 24th state to adopt it, the “Wall Street Journal” claimed that “between 1980 and 2011, total employment in right-to-work states grew by 71%, while employment in non-right-to-work states grew 32%.” They went on to report, “Since 2001, right-to-work states added 3.5% more jobs, while other states decreased by 2.6%. Similarly, inflation-adjusted compensation grew 12% in right-to-work states, but just 3% in the others.”

It should therefore come as no surprise that “right-to-work” legislation is gaining momentum. A 2016 survey by Rasmussen reported, “One-in-three Americans say they have been a member of a labor union at some point in their lives. But while 44% view unions favorably, 45% share an unfavorable opinion of them.” They went on to report, “A sizable majority of voters believes labor leaders are out of touch with their rank-and-file membership. Fifty percent (50%) think labor unions have too much political influence.”

On the campaign trail, Donald Trump adopted the motto, “Buy American, Hire American,” and the message appears to be embraced by the country. Whereas it was originally thought Mr. Trump’s lack of political experience was a liability, now it appears his business acumen has become an important asset in reinvigorating the economy and jobs. He seems to be the first president in a long time who knows how to aggressively kick start the country’s economy, and in the process, the country is gaining confidence. If he is able to follow through with his promises on such things as trade and taxes, America could very well be on the verge of a go-go era in business and once again become a dynamo. At least, that is what the American people seem to believe.

Also published with The Huffington Post.

Keep the Faith!

Note: All trademarks both marked and unmarked belong to their respective companies.

Tim Bryce is a writer and the Managing Director of M&JB Investment Company (M&JB) of Palm Harbor, Florida and has over 40 years of experience in the management consulting field. He can be reached at timb001@phmainstreet.com

For Tim’s columns, see:   timbryce.com

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Copyright © 2017 by Tim Bryce. All rights reserved.

Also read Tim’s columns in the THE HUFFINGTON POST

NEXT UP:  FACING REALITY – People plain and simply don’t want to know it.

LAST TIME:  THINKING IN 360 DEGREES  – Getting the big picture.

Listen to Tim on News Talk Florida (WWBA 820 AM), WZIG-FM (104.1) in Palm Harbor,FL; KIT-AM (1280) in Yakima, Washington “The Morning News” with hosts Dave Ettl & Lance Tormey (weekdays. 6:00-9:00am Pacific). Or tune-in to Tim’s channel on YouTube. Click for TIM’S LIBRARY OF AUDIO CLIPS.

 

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3 Responses to “A SENSE OF BUSINESS OPTIMISM”

  1. Tim Bryce said

    A W.H. of Boulder, Colorado wrote…

    You know, I personally have always wondered WHY every state didn’t have a “right to work” law. I’ve never been a union member, but growing up in Tulsa, I remember a neighbor down the street who was a lifelong rabid union member. He was a mechanic for American Airlines in Tulsa. I remember one year, the union didn’t like the contract the airline offered to the union. So, they went out on strike. The strike lasted for 6 months. Of course, the union picketed daily, and the airline brought in non-union workers to fill the jobs – or perhaps they simply sent the work to another state where they didn’t HAVE to deal with the union – remember, I was a young teen at the time so didn’t really follow politics or unionism all that much. Anyway, after 6 months, the union and airline finally agreed to a new contract. Oh, what was the sticking point originally? It was not on “conditions” – it was on a pay increase. The union wanted a bigger increase than the airline was willing to give. In the end, the union accepted the original airline increase offer and all the workers went back to work. What was the increase? Oh, it was like a nickel an hour. So, the WORKERS in that union LOST A LOT OF MONEY out of their family pockets because their union “management” wanted to “stick it to” the airline’s management. I never saw the economic benefit to a strike…which, in my mind made no sense since at that time unions would go out on strike at the drop of a hat.

    Today, I look at it a different way. FORCING a person to join a union in order to have a job is blackmail. Oh, the union will SAY that they are the ones that make sure the workers for a given job are “qualified” to do that job. OK, what says that someone else can’t be qualified for that job? Maybe they have as much experience or more in the field than another worker? And, the seniority system of a union reeks of favoritism – meaning, the more senior you are, the higher likelihood you will have a paying job. In point of fact, that is the OPPOSITE of what happens in industry today. If you get to be TOO qualified or too senior or (yes) too old, you’re the one most likely to lose a job because you cost too much for the company to be competitive.

    Anyway, I’m just glad I never had to join a union to have a job. And, yes, I had a number of “minimum wage” jobs during my early years ($1.00/hr) as a teenager. And, while I was in retail sales, I was never in the “food service” industry.

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  2. […] A SENSE OF BUSINESS… on THINKING IN 360 DEGREES […]

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  3. […] TIME:  A SENSE OF BUSINESS OPTIMISM  – Is a go-go era in the […]

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