BUSINESS AND MONEY
Michael Bentley 22, Jan 2 mins
2 mins
The Ritz Herald
New York State Capitol, April 1, 2019, in Albany, NY. © Hans Pennink / AP Photo
Hudson Valley trade group says Gov. Cuomo's plan will get workers back on payroll, road-improvement projects back on track

The Construction Industry Council of Westchester and Hudson Valley Inc. is hailing Gov. Andrew M. Cuomo’s proposed 2021-22 state budget released this week as “another clear example of the administration’s commitment to revitalize New York’s dynamism.”

“We applaud the governor’s call to fully fund the second year of the $11.9 billion, two-year Department of Transportation capital plan through robust investments in our transportation and infrastructure facilities,” said John Cooney, Jr., Executive Director of the Construction Industry Council of Westchester and Hudson Valley, a leading business trade organization in the region.

“The construction industry has long served as a driver to reinvigorate employment and stimulate the economy. The Cuomo budget will put workers back on payrolls and make possible needed state and regional project work and improvements in mobility throughout the mid-Hudson region and its extensive networks highways, local roadways and bridges.”

Cooney termed the Executive Budget proposal “both fiscally responsible and responsive to today’s challenges,” but cautioned “extra effort must be taken by our congressional delegation in Washington if we are to see a return to pre-pandemic prosperity following the protracted and widespread hardships inflicted by the COVID-19 crisis.”

“Gov. Cuomo has amplified President Biden’s ‘Build Back Better’ appeal to all America, and we as leaders of the region’s contracting community will be joined by our partners in organized labor and other sectors in the fight to secure new federal relief aid and opportunities for all New Yorkers,” Cooney said. “This is an all-hands-on-deck moment in our history, and we’re inspired to see Gov. Cuomo has again done his part.”

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New CDC Requirement Proves Value of Travel Insurance Upgrade
The Ritz Herald

US travelers had been showing growing confidence in travel, including a demand for international trips, prior to the new CDC requirement that they must receive a negative Covid-19 test prior to reentry. Travel insurance comparison site, Squaremouth, says this requirement exhibits the ongoing uncertainty of travel, and explains why…

Stankevicius Group, Chief Executive, Paulius Stankevicius Says Bitcoin Price Will Hit $50,000 in 2021
The Ritz Herald

Since 2017, Paulius Stankevicius has lead Stankevicius MGM PR and advertising agency to success while working with over 200 blockchain-based clients. Stankevicius assisted clients in capital raising, and clients raised over half a billion US dollars in just about 14 months.

Despite Past Economic Boom California Dream Index Finds Unequal Growth in Overall Economic Mobility Pre-Pandemic
The Ritz Herald

Even though California enjoyed a historic boom during the past decade, the addition of 2019 data into the California Dream Index announced by California Forward confirms that prosperity was not experienced evenly by all Californians. The overall California Dream Index rose or stayed flat in all of California’s regions…

TLG & Aroundtown Complete Dresden Office Property
The Ritz Herald

TLG Immobilien AG, a subsidiary of Aroundtown, has successfully completed construction work on an office property known as NEO, located in the Neustadt district of Dresden.

The planning permission was given to TLG in the middle of 2019 and the team managed…

America’s CEOs Start 2021 Concerned About Taxes, Optimistic About Trade, and Eager to Return to the Office
The Ritz Herald

As 2021 begins, a new survey from The Conference Board reveals the biggest issues that will keep business leaders up at night in the new year. CEOs in the United States are more worried about higher corporate taxes and increased regulation, but less worried about global political instability and…

3 mins
© Amani Nation
The Ritz Herald
More diverse leadership in 2020

As we reflect on the challenges we faced and opportunities 2021 brings, the Women Business Collaborative (WBC) and Equilar share good news from the private sector: the number of women and diverse women appointed to board of public companies continues to increase. In December 2020, public companies appointed 107 women to Boards of public companies as compared to 175 men. Women comprised 37.8% of overall board appointments. This reflects an upward trend in the 4th quarter of 2020 with women comprising on average 41% of appointees.

The appointments of women of color continues to rise. In December, 28 of the women appointed identified as women of color with women identifying as African American leading the way with 13 seats. Nine of these African American women are first time board members – the pool of women holding board seats of public companies is growing. This is exactly what the WBC and its partners and champions are calling for – parity in leadership positions on all boards.

Edie Fraser, CEO of the WBC, said, “The latest data reflects that more companies are adding women, and the private sector is taking major steps towards true representation coupled with calls from…

7 mins
© Stephen Leonardi
The Ritz Herald
Out-of-towners have bigger budgets than locals in 31 of the 34 cities included in Redfin's analysis, and they're driving up home prices

Nashville tops the list of cities with the biggest budget difference between out-of-town and local homebuyers, according to a new report from Redfin, the technology-powered real estate brokerage. The average housing budget for out-of-towners moving to Nashville in 2020 was $719,500, 48% higher than the $485,500 average budget for local buyers. Next come Atlanta, where out-of-towners had an average budget of $698,000, 33% higher than the local budget, and Austin, where the average out-of-towner had an $852,500 budget, 32% higher than locals.

The report is based on a Redfin analysis of the average maximum list-price filters for homes set by Redfin.com users in their saved searches.

“Many homebuyers are now able to widen their searches to parts of the country that weren’t options when they were tied to offices in expensive cities, and the consequences for popular destinations will be numerous,” said Redfin chief economist Daryl Fairweather. “That’s great news for remote workers because their San Francisco salary can buy a lot more in Nashville or Austin than the Bay Area. And for locals, the influx of wealthy homebuyers is both good news and bad news. Homeowners will see the value of their homes rise, but first-time…

63% of 2020 Homebuyers Made an Offer Sight Unseen, Shattering Previous Record
The Ritz Herald

Nearly two thirds (63%) of people who bought a home last year made an offer on a property that they hadn’t seen in person, the highest share since at least 2015. That’s up from 32% a year earlier, and 45% in July, which was previously the high point, according…

Half of Redfin Home Offers Faced Bidding Wars in December as Housing Market Defied Holiday Slump
The Ritz Herald

Nationwide, 49.7% of home offers written by Redfin agents faced bidding wars in December, according to a new report from Redfin, the technology-powered real estate brokerage. While that’s down from a revised rate of 55.9% in November, it represents the eighth straight month in which about half of Redfin…

U.S. Foreclosure Activity Drops to 16-Year Low in 2020
The Ritz Herald

ATTOM Data Solutions, licensor of the nation’s most comprehensive foreclosure data and parent company to RealtyTrac, a foreclosure listings portal, today released its Year-End 2020 U.S. Foreclosure Market Report, which shows foreclosure filings— default notices, scheduled auctions and bank repossessions — were reported on 214,323…

Confidence Continues to Climb for Small and Midsize Businesses to Pre-Pandemic Levels
The Ritz Herald

Confidence in the economy among small and midsize business CEOs rose to pre-pandemic levels, scoring an 88.0 in the Q4 2020 Vistage CEO Confidence Index, up from the low of 65.5 recorded in Q2. However, economic fallout due to COVID-19 is still on the forefront of SMBs’ minds nationwide,…

Child Care Costs Have Increased 41% Amid COVID-19
The Ritz Herald

Child care costs were already high pre-coronavirus pandemic, but they’ve only gotten more expensive. Amid the pandemic, center-based child care costs have increased by 41%, or $14,117, up from $9,977 pre-pandemic.

LendingTree team analyzed data from the Center for American Progress and Child Care Aware of America to find the…

6 mins
The Ritz Herald
© RE/MAX, LLC
RE/MAX National Housing Report for December 2020
By / Finance Reporter

December home sales increased 6.2% over November and 21.9% year-over-year, capping a record-breaking second half of 2020 that set new overall monthly benchmarks for most sales, highest price, lowest inventory and quickest closings.

Although December is typically a month with fewer sales, December 2020 ranked 5th in highest number of home sales for the year – and its sales exceeded all but two months of 2019.

“The very strong sales total in December – over 20% higher than a year earlier – reflects just how frenzied the market was as we entered 2021. And when you look at the entire last half of the year, you see sky-high demand for housing across the country,” said Adam Contos, CEO of RE/MAX Holdings, Inc. “Buyers are dismissing the potential constraints of rising prices and limited inventory to boldly move ahead with their plans to purchase and own a home. We think that says a lot about the lasting appeal of homeownership.

“Many people want to own their home, not rent, and the low interest rate environment is helping them do it. We expect to see more sellers enter the market this year as they take advantage of the favorable conditions and the greater mobility of working remotely. That, along with gains in construction, would help create more options for buyers, leading to what could be a very big year for sales.”

Down 17.9% from November 2020 and 33.0% from December 2019, December 2020 established a record low for inventory in the 13-year history of the report. It also set multiple…

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Automotive Industry Navigates Pandemic Speedbumps as Consumers Take Detour Towards Traditional Platforms
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Uncertainty and financial concerns driven by COVID-19 continue to have an impact on consumer mobility and the global automotive sector. For more than a decade, Deloitte has been exploring automotive consumer behaviors and trends impacting the global automotive ecosystem. This year’s report titled, “2021 Global Automotive Consumer Study,” surveyed…

This Cannabis Stock May Be The Next Big Mover: Endexx
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The Benefits of Wealth Management: Does It Pay Off in the Long-Run?
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Ever wondered if wealth management is a worthwhile service? Fiduciary wealth managers take the financial stress off their clients by both managing their clients’ wealth while also creating a customized plan that enables them to simply not have to worry about their financial future.

Not only do they consider their…

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Chicago Ford Assembly Plant, Illinois. © Scott Olson
The Ritz Herald
2021 Talent Trends Report finds 40 percent of human capital leaders say talent scarcity has negatively impacted their organization, highlights need for reskilling

Even amid record high unemployment rates across the world as a result of the COVID-19 pandemic, talent scarcity remains a major challenge for businesses. According to the 2021 Talent Trends Report released by Randstad Sourceright, 40 percent of human capital leaders report that talent scarcity has negatively impacted their organization – the highest total in the past five years.

Based on a survey of 850 C-suite and human capital leaders in 17 markets across the world, the 2021 Talent Trends Report provides global insights into the top 10 talent trends that will dominate 2021, especially as businesses begin to outline recovery plans in response to the pandemic.

The survey found 40 percent of HR leaders continue to experience talent scarcity in IT, while 28 percent say they can’t find enough qualified candidates for HR roles — and nearly one in five need more finance and accounting specialists.

“2020 was certainly a tumultuous year, resulting in a global economic decline that led to millions of individuals losing their jobs. Yet despite this large talent pool of available workers, employers continue to face a growing skills gap — especially for digital skills — that has been exacerbated by the ongoing…

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Intricate Legal Methods to Ensure A-List Celebrities and CEOs Are Untraceable and Virtually Lawsuit Proof

Di Angelis / RH
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Housing Market Update: Home Prices Up 13%, Pending Sales Rise 38%
The Ritz Herald

The median home sale price increased 13% year over year to $319,000 during the 4-week period ending January 3, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage.

Below are other key housing market takeaways for 400+ U.S. metro areas during the 4-week period ending January…

How to Apply for Enhanced ‘Paycheck Protection Program’ (PPP) Funding for Restaurants, Food Service and Hotel Sectors
The Ritz Herald

Restaurants, food service and hotel sector employers across America are being urged to register now for an enhanced level of loans under the second round of the federal Paycheck Protection Program (PPP) through Eastern Union, one of the country’s largest commercial real estate finance firms.

New…

U.S. Private Sector Employment Decreased by 123,000 Jobs in December 2020
The Ritz Herald

Private sector employment decreased by 123,000 jobs from November to December according to the December ADP National Employment Report®. Broadly distributed to the public each month, free of charge, the ADP National Employment Report is produced by the ADP Research Institute® in collaboration with Moody’s Analytics. The report, which…