Market Minute

August 2024 – By Scott Rosenquist CFA^®

Employment data for the month of July came in below expectations with 114,000 jobs added while the unemployment rate moved higher to 4.3% from 4.1% in the previous month. This is the fourth month in a row showing a higher unemployment rate although it is coming off a historically low base. The weak report raised questions about the strength of the economy and what it may mean for future monetary policy decisions. It is important to note that monthly economic reports are subject to revision and can be volatile month to month.

Planning Article

July 2024 – By Bob Veres

The Summer Olympic games are coming, from July 26 through August 11.  Paris is the host city, although many of the events will be happening in other French venues.  For example, the equestrian events will be held on the extensive grounds of Versailles, where the French kings decanted for their summer vacations.

Market Memo

July 2024 – By Kyle Rohrwasser

After being up in the air for the last few years the IRS has finally solidified its rules regarding Required Minimum Distributions “RMDs” and the 10-year rule for beneficiaries. Covid created lots of uncertainty, not only economically but also via tax rulings. Common changes came from the CARES Act that was enacted in March of 2020. Major changes of rules came in the form of extending RMD ages and creating a 10-year distribution rule.

Market Memo

June 2024 – By Bob Veres

We’re starting to see private equity firms make short-term investments in companies all across the American business ecosystem.  At best, they’re looking to make a quick buck; at worst, they’re looting the companies they ‘invest’ in and leaving others holding the bag.  One recent example is the Red Lobster bankruptcy, which closed locations around the country and laid off 36,000 workers.  A private equity company firm called Golden Gate Capital basically financed a takeover by selling the real estate under 500 of Red Lobster’s restaurants for $1.5 billion, and the purchasing company then charged premium lease prices from the restaurants.  By 2023, the rents totaled $200 million a year—amounting to 10% of total revenues.