What Big Banks Are Saying About Inflation, Recession & Credit Trends

January 5, 2023Posted inCommercial Banking
During Q3 earnings calls, senior executives of eight of the biggest U.S. consumer banks talked to analysts about the impact of inflation on credit now and about their expectations for the impact of a recession. So far, it seems, the overall impact of the recession has been muted, but all, including our biggest banks, are preparing for a turn to the worse. During third quarter 2022 earnings briefings, many large bank leaders have continued to…

Economic Outlook – Wisdom From Robert Albertson

November 28, 2022Posted inNewsletters
As the year begins to wind down and budgets to firm up, the economic outlook hasn’t cleared out much.  Robert Albertson, Chief Strategist of Piper, Sandler, remained undaunted, although unclear. There are five NEVER BEFORE’s, says Robert. 1.  Rising rates in a growing economy. 2. Unsustainably low rates for the last decade plus. 3. Pandemic shut down the global economy, which is still affecting us. 4. Ukraine war and its impacts on exports. 5.  Unexplainable…

The Amazon Hiring Process – We Want Missionaries Not Mercenaries

November 13, 2022Posted inHuman Resources
Today’s employment market is extremely tight.  Most of us are looking for concessions and other inducements to encourage prospective employees to join our teams.  And yet, we can’t afford not to be choosy about the folks we hire.  The cost of turnover, even if you welcome the departure of the employee, is too high in terms of dollars (typically at least $20,000) and opportunity cost of adjustment time to compromise in our hiring. The first…