There is a uniqueness to the landscape of modern American cities that is one of the envies of the world and has been emulated in many other countries: the suburb. Most don’t remember that the modern suburb is a relatively contemporary concept that did not appear until after World War II. The father of the modern suburb was Bill Levitt.…
Read MoreCategory: The Strategist
A Black Swan?
I wrote about the most recent Black Swan event in this and our sister publication in the spring of 2020. I first wrote about the fear that was gripping Milan, Italy, as ground zero in the West for the rapidly spreading COVID-19 pandemic, and I worried about how rapidly and how far it could spread. As we know, it turned…
Read MoreHere Comes the Great Insurance Crisis
Fifty billion dollars. That is $50,000 million. I like to use that analogy so that readers can understand the magnitude of a billion dollars, which is $1,000 million. That is what the devastation in Southern California’s recent fires cost. Insurance is one of the great gifts of finance to mankind. Through the statistical magic of risk pooling, an individual can…
Read MoreThe Population Growth Recovery
I have had a fascination with U.S. population numbers since I had to write a paper in high school about how population growth affects our economy. That was 55-plus years ago, and I have continued to watch the topic with great interest. Much has changed since the late 1960s, and sometimes demographers miss the boat as they have in the…
Read MoreThe Office Comeback
As I have written many times before, the last lingering symptom of the COVID-19 Pandemic is really its legacy: shifting the culture of work from the traditional office setting to working from home. But the statistics really don’t bear out this trend except in certain markets, and slowly but surely, the Return-To-Office (RTO) movement is starting to take hold. The…
Read MoreThe Consumer Strengthens
“It’s all over but the shouting.” The expression’s first use in print was in 1842, by Welsh sportswriter Charles James Apperley when reporting a late score in a sporting event. As so it is with the election, but as I have said many times before, election outcomes have near-zero impact on our businesses, and life goes on. Even before the…
Read MoreA No Landing?
You would have to be living under a rock not to see the tear the stock markets are on, and especially the construction materials subset of companies that supply aggregates, cement and ready mixed concrete; and that are all breaking through previous records to all-time highs. And jobs reports continue to be strong, and in a strange dichotomy, the consumer…
Read MoreThe Fed Goes Big
That was the subject line on an end-of-day email from one of the major business media enterprises on a Wednesday afternoon in mid-September. It was the day the Fed held its regular meeting, and ended speculation as to whether the all-but-assured rate cut would be 25 basis points, or a more aggressive 50 points. And 50 it was, but it…
Read MoreA Mid-Year Look at the Housing Market
Interest rates have been elevated for a long time now, a stretch spanning the longest period for high interest rates that we can remember. Starting in March 2022, rates have ratcheted up to their current levels and have been there for 2½ years now. But as I have been predicting for some time, rates will come down, although the timing…
Read MoreThe Bewildering Status of Non-Compete Clauses
The use of non-compete clauses, or even entire agreements, are an integral part of the American employment landscape, especially at the C-Suite level, but often in middle management and sales positions as well. Our firm has a large and diverse client base, all focused in the construction materials industry, and the use of non-compete clauses or agreements are all over…
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