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U.S. Inflation Rate Up Again in February

Federal Reserve officials were looking at potentially cutting interest rates soon if consumer prices started coming down.

For now, that doesn’t seem to be the case.

Consumer prices in the United States picked up last month, rising 0.4% from January to February, higher than the previous month’s figure of 0.3%, according to statistics released Tuesday by the Labor Department. Consumer prices rose 3.2% last month over a year earlier.

Excluding volatile food and energy prices, so-called “core” prices also climbed 0.4% from January to February, the Associated Press reported. That matches the previous month’s rise and a faster pace than is consistent with the Fed’s 2% inflation target.

“It’s a disappointment, but not a disaster,” Eric Winograd, U.S. economist at asset manager AB, told the AP. “The underlying details are more encouraging than the top-line number, which was boosted by a few volatile categories — the type of prices that tend not to repeat month-to-month.”

Those categories include gas prices, which jumped 3.8% just from January to February but are still below their level of a year ago. Air fares were up 3.6%, an clothing prices rose 0.6% after three months of declines but are unchanged compared with a year earlier, according to the AP report.

Despite February’s elevated figures, most economists expect inflation to continue slowly declining this year. At the same time, the uptick last month may underscore the Fed’s cautious approach toward interest rate cuts.

In his State of the Union speech last week, Biden talked about the things his administration has done to reduce costs. The president also criticized many large companies for engaging in “price gouging” and so-called “shrinkflation,” in which a company shrinks the amount of product inside a package rather than raising the price.

“Too many corporations raise prices to pad their profits, charging more and more for less and less,” Biden said.

Overall inflation has sunk from a peak of 9.1% in June 2022, though it’s now easing more slowly than it did last spring and summer. Fed Chair Jerome Powell signaled in congressional testimony last week that the central bank is getting closer to cutting rates.

After meeting in January, Fed officials said in a statement that they needed “greater confidence” that inflation was steadily falling to their 2% target level. Since then, several of the Fed’s policymakers have said they believe prices will keep declining. One reason, they suggested, is that consumers are increasingly pushing back against higher prices by seeking out cheaper alternatives.

Interest Rates at Peak, Reductions Likely to Wait

The CPI index likely ran hot in February on higher gasoline prices, but core inflation likely slowed further as car prices fell and rent increases moderated. Producer prices likely rose less than retail prices in the month, but were nevertheless higher as more expensive diesel caused transportation and warehousing costs to jump after three monthly declines.

The Treasury Department’s monthly deficit likely widened in February, as it typically does in that month. The Department of Education’s cancellation of $1.2 billion in student loans in February likely added to the monthly deficit, though its incremental effect on monthly borrowing will be smaller since its cash flow effect will be spread out over the life of the cancelled loans.

Retail sales likely rebounded sharply as Americans spent more at gas stations, bought more new vehicles, and increased discretionary spending on durable goods after bad weather held back spending in January. Industrial production was likely flat, with milder weather helping mining but hurting utilities.

No new insights about the future path of monetary policy were gleaned from Chair Powell’s much-awaited semi-annual testimony to Congress, where he reiterated: Interest rates are likely at their peak for the current tightening cycle; rate cuts are likely appropriate sometime this year; and monetary policymakers will need to have greater confidence that inflation is returning sustainably towards the 2% target before easing policy, but they are “not far” from having that confidence.  

275,000 nonfarm payroll jobs were added in January, well above the 190,000 consensus. That good news was partially offset by a substantial 167,000 downward revision to the prior two months’ job growth. The unemployment rate unexpectedly rose by 0.2 percentage points to 3.9%, as layoffs rose by 174,000 to a 27-month high of 1.730 million. The labor force participation rate held steady at 62.5% for the third consecutive month, 0.3 pp below the pandemic-era high of 62.8%. The decline was concentrated among men aged 16-19 years and over 55 years. The average workweek rose by 0.1 hour to 34.3 hours, partially recovering from the weather-related 0.2-hour decline in January. Following a strong increase in January, wages rose by a modest 0.1% last month and were up 4.3% from a year earlier. 

Job openings were essentially unchanged at 8.9 million in January, with December revised lower. While the imbalance in the labor market has come down sharply from two years ago, demand for labor still exceeds supply, with 1.4 vacancies for every unemployed person. Quits, voluntary separations initiated by employees, and the quits rate—widely-watched measures of labor market mobility—continue to fall and were below pre-pandemic levels, indicating decreasing willingness of employees to change employers. Since job changers tend to see faster wage growth than job stayers, a lower quits rate will contribute to slower wage growth over time. 

Bill Adams is a senior vice president and chief economist at Comerica. Waran Bhahirethan is a vice president and senior economist at Comerica.

Number of Americans Filing for Unemployment Drops Slightly

While the number of Americans applying for unemployment benefits last week went down a bit, the overall number of workers collecting jobless benefits was up.

Both numbers, though, remain at historically low levels.

The Labor Department reported Thursday that filings for unemployment claims for the week ending March 9 ticked down by 1,000 to 209,000 from the previous week’s 208,000, according to statistics released by the U.S. Labor Department.

The four-week average of claims came in at 208,000, a decrease of 500 from the previous week.

Some 1.81 million Americans were collecting jobless benefits during the week that ended March 2, an increase of 17,000 from the previous week. Last week’s number, which had been the most since November, was revised down by 112,000.

Weekly unemployment claims are considered a proxy for the number of U.S. layoffs in a given week. They have remained at historically low levels since the pandemic purge of millions of jobs in the spring of 2020.

Cadillac Teases Future of Zero Emissions Performance as V-Series Celebrates 20 Years

Cadillac gave the world a taste of what the future of electric performance could render, sharing a sneak peek at Opulent Velocity — a concept vehicle designed to celebrate the past, present and future of Cadillac and its performance brand, V-Series.

Opulent Velocity represents the duality of the Cadillac brand defined in the name itself, Opulent + Velocity.  The concept’s mission is to demonstrate the evolution of Cadillac’s revered sense of opulence, while envisioning the future of a high velocity performance driving experience.  

“Opulent Velocity is designed to foreshadow a zero emissions expression of performance and modern luxury leadership,” said Bryan Nesbitt, executive director, Cadillac Global Design. “We will share more later this year, so stay tuned.”

For 20 years, V-Series products have brought bold American craftsmanship, technology and performance to the street and track. V-Series represents the purest expression of the passion that exists at the core of the Cadillac brand.

The latest iterations of Cadillac’s iconic V-Series, the 2025 CT5-V and CT5-V Blackwing, debuted in January and feature a refreshed look while maintaining the renowned power, refinement and performance enthusiasts expect, on and off the track.

Cadillac celebrates 20 years of V-Series at Mobil 1 Twelve Hours of Sebring
The teaser drops 20 years after V-Series was first launched at Sebring International Raceway in March 2004, with the race and subsequent first win of the CTS-V.R race car in the SCCA Pro Racing World Challenge GT race.

“V-Series forges a transformative relationship between Cadillac’s championship-winning motorsports program and the road vehicles it influences,” said Brandon Vivian, executive chief engineer, Cadillac. “It is a proven formula delivering authentic performance through technology, resonating with our passionate V-Series enthusiasts over the past two decades.”

Racing provides a testbed for Cadillac to transfer knowledge and technology between race cars and production vehicles.

Cadillac returns to the Mobil 1 Twelve Hours of Sebring this weekend to celebrate the 20th anniversary of V-Series, while aiming to defend last year’s win by the No. 31 Whelen Cadillac team.

After a Slow Start to 2024, Retail Sales Picked up in February

That didn’t last long.

Shoppers pulled back on their spending in January, but apparently picked it back up last month.

Retail sales rose 0.6% last month after falling a revised 1.1% in January, dragged down in part by inclement weather, according to a report released Thursday by the Commerce Department. February’s number was lifted in part by higher gas prices and higher auto sales.

Excluding sales from gas stations and auto dealers, sales were up 0.3%.

Business at general merchandise stores rose 0.4%, while electronics and appliance stores had a solid 1.5% increase. Restaurants posted a 0.4% increase. Furniture and home furnishings stores saw a 1.1% decline. Online sales were down 0.1%.

According to a report from the Associated Press, household spending is being fueled by a strong jobs market and rising wages. But spending has become choppy in the face of rising credit costs and higher prices.

America’s employers continued to hire in February, adding 275,000 jobs, underscoring the U.S. economy’s resilience despite efforts of the U.S. Federal Reserve to knock down inflation by slowing spending.

“They continue to shop but they are more constrained, ” Target’s CEO Brian Cornell told The Associated Press in an interview last week. “People are using credit cards to get through the month. Rent costs across the country are up, and gas has been volatile.”

The government’s monthly retail sales report offers only a partial look at consumer spending; it doesn’t include many services, including travel and hotel lodges. It’s also not adjusted for inflation, the AP pointed out.

IRS Launches Electronic Payment Options

WASHINGTON ― With the April 15 filing deadline approaching, the Internal Revenue Service encourages taxpayers who may find it difficult to gather the necessary documents they need to file or pay the taxes they owe to consider several options offered on IRS.gov to avoid late filing and interest penalties.

This is the last in a four-part series called the Tax Time Guide, a resource to help taxpayers file an accurate tax return. As taxpayers approach the April 15 deadline, those who owe taxes can benefit from knowing their options.

Eligible individuals and families who earned $79,000 or less in 2023 can use IRS Free File on IRS.gov, to electronically file their taxes. But all taxpayers, regardless of income, who need more time to file a return can use IRS Free File as an easy and quick way to electronically file for a six-month extension before April 15, 2024. An extension will help to avoid penalties and interest for failing to file on time, and gives taxpayers until Oct. 15, 2024, to file. However, they still must pay what they owe by the April 15 deadline.

Except for eligible victims of recent natural disasters who have until Oct. 15 to make tax payments, taxpayers who can’t pay the full amount of taxes they owe by April 15 should file and pay what they can to reduce total penalties and interest.

There are multiple ways to make electronic payments and there are options for a payment plan or an agreement with the IRS.

An IRS Online Account provides taxpayers access to important information when preparing to file a tax return, pay a balance or follow up on notices. Taxpayers can view their information online including:

  • Adjusted Gross Income.
  • Payment history and any scheduled or pending payments.
  • Payment plan details.
  • Digital copies of select notices from the IRS.

Taxpayers can also use their Online Account to securely make a same-day payment for an outstanding 2023 tax balance, pay quarterly estimated taxes for the 2024 tax season or request an extension to file a 2023 return.

Interest and a late payment penalty will apply to any payments made after April 15. Making a payment, even a partial payment, will help limit penalty and interest charges.

Other electronic options
Direct Pay, available at IRS.gov, is the fastest, easiest way to make a one-time payment without signing into an IRS Online Account.

  • Direct Pay: Direct Pay is free and allows taxpayers to securely pay their taxes directly from their checking or savings account without any fees or registration. Taxpayers can schedule payments up to 365 days in advance. After submitting a payment through Direct Pay, taxpayers will receive immediate confirmation.
     
  • IRS2Go mobile app: IRS2Go is the official mobile app of the IRS. Taxpayers can check their refund status, make a payment, find free tax preparation assistance, sign up for helpful tax tips and more. IRS2Go is available in both English and Spanish.
     
  • Electronic Funds Withdrawal (EFW): This option allows taxpayers to file and pay electronically from their bank account when using tax preparation software or a tax professional. This option is free and only available when electronically filing a tax return.
     
  • Electronic Federal Tax Payment System: This free service gives taxpayers a safe, convenient way to pay individual and business taxes by phone or online. To enroll and for more information, taxpayers can call 800-555-4477 or visit eftps.gov.
     
  • Debit or credit card and digital wallet: Individuals can pay online, by phone or with a mobile device through any of the authorized payment processors. Processors do charge a fee to use these services. The IRS doesn’t receive any fees for these payments. Authorized card processors and phone numbers are available at IRS.gov/payments.
  • Other Payment Options
  • Cash: For taxpayers who prefer to pay in cash, the IRS offers a way to pay taxes at one of its many retail partners. The IRS urges taxpayers choosing this option to start early because it involves a four-step process. Details, including answers to frequently asked questions, are at IRS.gov/paywithcash.
  • Check or money order: Payments made by check or money order should be made payable to the “United States Treasury.” To make sure that the payment gets credited promptly, taxpayers should also enclose a 2023 Form 1040-VPDF payment voucher and print the following on the front of the check or money order:
    • “2023 Form 1040”.
    • Name.
    • Address.
    • Daytime phone number.
    • Social Security number.

For more information about payments, see Topic No. 202, Tax Payment Options, on IRS.gov.

Comerica Bank Hosts Sixth Prom Dress Drive, Benefiting Jackets for Jobs

Detroit – Comerica Bank is welcoming donations for its sixth annual Prom Dress Drive beginning Monday, March 18, and continuing through Friday, April 12, in support of community partner Jackets for Jobs. Individuals and businesses alike can drop off new or gently used dresses, along with accessories, such as jewelry, shoes, purses, and wraps, at participating Comerica locations to benefit southeast Michigan students.

Ten Comerica Bank banking centers and offices throughout Metro Detroit will serve as collection sites. For the first time, Comerica will be accepting the donations of dresses and accessories over a four-week span, the longest donation period since Comerica’s Prom Dress Drive first began in 2017.

For the second consecutive year, Comerica will supply the donated dresses and accessories to Jackets for Jobs, a Detroit-based nonprofit that focuses on career development and removes barriers by providing high-quality clothing that makes clients look and feel professional to support workplace success.

“Teaming up with Jackets for Jobs was incredibly successful last year. We appreciate the passion of Alison Vaughn and her team in their commitment to reach and positively impact our youth during this very impressionable and important time in their lives,” said Steve Davis, Comerica Bank Michigan Market President. “Each year, we are truly grateful for the support we receive from our customers and communities throughout the Metro Detroit area during this effort. Their generosity makes our Prom Dress Drive possible.”

Cumulatively across its last five Prom Dress Drives, Comerica has collected more than 7,700 dresses – including a record of over 2,200 last year – to benefit local teens who may not otherwise be able to afford formal attire and experience the high school tradition of prom.

“Our mission is to empower others to achieve great things by providing them with the resources to help overcome barriers that exist,” said Alison Vaughn, Jackets for Jobs Founder and Executive Director. “Clothing and attire, whether for workplace or special events, can stand in the way of meaningful experiences and achievements. Our goal in partnering with Comerica is to open the door for success. Teens are vulnerable, and we hope that our boutique can offer them excitement and inspiration as they look forward to some of their most special moments of their teen years without some of challenges than may persist.”

Donation Locations

Individuals and local businesses, including bridal and dress shops from surrounding areas, seeking to donate dresses and accessories to the Comerica Prom Dress drive can do so at locations in the following nine metro Detroit communities: Ann Arbor, Bloomfield Hills, Dearborn, Detroit, Grosse Pointe, New Baltimore, Northville, Novi and Rochester Hills.

The following Comerica Bank locations will accept donations:

Comerica Banking Centers

  • Ann Arbor | Stadium Blvd.-Pauline: 1969 W. Stadium Blvd., Ann Arbor, MI 48103
  • Bloomfield Hills | Woodward-Hunter: 36440 Woodward Ave., Bloomfield Hills, MI 48304
  • Bloomfield Hills | Telegraph-Long Lake: 3910 Telegraph Rd., Ste. 100, Bloomfield Hills, MI 48302
  • Dearborn | Michigan-American: 16150 Michigan Ave., Dearborn, MI 48126
  • Grosse Pointe | Fisher-St. Paul: 415 Fisher Rd., Grosse Pointe, MI 48230
  • New Baltimore | Gratiot-Cotton: 50300 Gratiot Ave., New Baltimore, MI 48051
  • Northville | Northville: 129 E. Main St., Northville, MI 48167,
  • Novi | Grand River and Beck: 47440 Grand River, Novi, MI 48374
  • Rochester Hills | Walton-Adams: 3021 Walton Blvd, Rochester Hills, MI 48309

Comerica Offices

Those donating dresses and accessories to the Comerica Prom Dress Drive in Detroit can do so by dropping off items in the main lobby of the Comerica Bank Center, 411 W. Lafayette.

Jackets for Jobs Prom Dress Boutique

This year’s Jackets for Jobs Prom Dress Boutique will take place Friday, April 19 through Sunday, April 21 at the Samaritan Center (5555 Conner St.) in Detroit. Schools, organizations or families with teens in need can contact Jackets for Jobs at (313) 579-9160 for more information.

APACC Event Promotes East-West Supplier Diversity Connections

Detroit Mayor Mike Duggan extolled the virtue of buildng a culture where everyone is valued and welcome during his speech at the Asian Pacific American Chamber of Commerce East-West Summit.

Tamara Hicks looked around at the people in the room watching her receive the Asian Pacific American Chamber of Commerce Minority Business Advocate Award and pointed out that she had a great many of them on speed-dial on her phone.

It’s one of the benefits, she said, of being a regular attendee at event such as APACC’s 21st annual East-West supplier diversity summit, where supplier diversity professionals and companies seeking better supplier-diversity programs have a chance to meet and network.

Raymond Boufford, Vice President of Minority Supplier Development & Business Transformation for Forvia, presents APACC’s Minority Business Advocate Award to Tamara Hicks, Senior Manager of Supplier Diversity at General Motors Corporation.

“From a supplier and corporate perspective, it’s a benefit to get to know one another,” said Hicks, Senior Manager of Supplier Diversity, General Motors Corporation. “The supplier diversity space is a family. We’re all here with the same purpose – to make everything more inclusive.”

APACC has been bringing the supplier diversity community together for more than two decades now. This year’s East-West Summit hooked up hundreds of spectators with dozens of businesses in an effort to produce the kind of inclusiveness the group seeks.

Duc Abrahamson, APACC’s executive director, said the whole goal is to bring together diverse suppliers with companies that are looking for women, people of color, veterans and suppliers in other blocs.

“This is our supplier diversity match-making event,” Abrahamson said with a smile. “This is where Diversity, Equity and Inclusion is the hot topic.”

In addition to the networking opportunities, the APACC’s East-West Summit, held with a packed crowd in the Wayne State University Student Center, featured several speakers.

The list included:

  • Mike Duggan, Mayor, City of Detroit
  • Ashok Sivanand, CEO, Integral
  • Kavy Lenon, Supplier Inclusion Manager, Meijer
  • Yusuke Shindo, Consul General of Japan in Detroit
  • Garlin Gilchrist II, Lt. Governor, State of Michigan

Duggan arrived at the APACC event having just left a Detroit City Council, where the mayor – originally elected in 2013 – had just presented his annual budget.

Brian Birckelbaw and Rudy Chahine of Consumers Energy talk to Chris Andrews of Argus Logistics of Troy.

He noted that the process has become more streamlined in his tenure, without the back-and-forth political bickering often see at the state and national levels.

“Every year, I present the budget by the first week of March, and they pass it by the first week of April,” Duggan said. “There are no government shutdowns, no continuing resolution … all of that drama and nonsense you see in Washington,

“If there’s one thing I’ve had an impact on changing, it’s getting rid of the ‘us-vs-them’ politics,” he added.

With a city already facing bankruptcy, Duggan decided to forego the “blame game” – no fights with Lansing, no fights with the suburbs or the unions – and instead build a culture of inclusivity and, in 2017, he was reelected, he pointed out, with 72% of the vote.

“I said we’re going to run a city where everyone is welcome, where everybody is valued,” Duggan said. “I told people if you vote for me, it’s not going to matter if you’re black or brown or white. It’s not going to matter if you’re Christian, Jewish or Muslim. It’s not going to matter if you’re gay or straight. It’s not going to matter if you were born in Detroit or you immigrated from another country.

“If you’re voting for me,” he told voters, “you’re voting or a vision of the city where everyone is welcome.”

Shindo, the Consul General of Japan in Detroit, said he was happy to get the invitation from APACC, because he knows the importance and the impact of east-west relations as it pertains to the business climate.

Michigan, Shindo pointed out, has 449 Japanese business facilities in the state – “I’m very happy that Japan remains among the leading foreign businesses in Michigan,” he said — providing more than 39,000 jobs.

Shindo said as he engages with Japanese business leaders in Michigan, he keeps tabs on the state of their businesses, the favorability of the state’s business climate and what the challenges are for them here.

Raj Dechen of the Dechen Consulting Group gets some information from Christopher Sim at the Stellantis booth at the Asian Pacific American Chamber of Commerce East-West Summit.

“Generally, they say they are happy with their Michigan experience,” Shindo said. “Sometimes they face serious issues like the supply chain problems from the pandemic. These days I hear they have to deal with a workforce shortage and talent availability.

“This issue isn’t unique to Michigan,” he added. “It resonates across the United States. People say securing talent is the key to their business. The demand for skilled and talented workers remains high, especially in light of the automotive industry’s transition to electric vehicles and automated technology.”

Gilchrist, in his second term as the state’s lieutenant governor, called the work being done by APACC “really inspiring.” He said east-west business connections are natural things to facilitate here.

“We have a rich history of recognizing that prosperity and opportunity  only come from connection, only come from recognizing that all of us have something to contribute to our collective success, that we are not able to be individually successful without the strength and support of others,” Gilchrist said. “APACC and other institutions like it represent bringing together our diversity for its empowering impact.”

Whitmer’s East Asia Trip Takes Aim at Bringing Jobs, Supply Chain to Michigan

LANSING, Mich. — Governor Gretchen Whitmer concluded her investment mission to East Asia having met with public and private sector leaders in South Korea. During the trip, the governor focused on building relationships in key industries to bring jobs and critical supply chains back home to Michigan.  

During the mission, the governor opened Michigan’s first-ever Taiwan office focused on securing investments in key industries like automotive, semiconductors, renewable energy and advanced manufacturing to create good-paying jobs. The governor also announced four new economic development projects coming to Michigan, including LT Precision Michigan, LLC, which is establishing its North American headquarters in Holland, creating 70 new jobs and investing $43.2 million in the local economy. 

“Michigan is a leader on the global stage, and it was an honor to share the story of our state with the help of our partners from South Korea and Taiwan,” Whitmer said. “With this investment mission and every future opportunity, my top priority is to bring more jobs, investment, and economic prosperity back home to Michigan.

“Whether forging connections with companies, meeting with dignitaries, or connecting with alumni from our great state universities, I have been proud to share what Michigan has to offer,” she added. “I would like to thank the Michigan delegation of business and government leaders who travelled on this mission with me, and our host countries for a successful trip. I look forward to building a bright future together.” 

InterBattery Show and Company Meetings 
On Wednesday, the governor attended the InterBattery Show in Seoul, spending time at the Michigan booth and visiting leading battery manufacturing companies Samsung SDI and LG Energy Solution (LGES).

Both companies have a strong presence in Michigan: Samsung SDI America Inc.’s North American headquarters are in the city of Auburn Hills, and in September 2023, the manufacturer of lithium-ion batteries for the auto industry announced a $41 million investment to double its manufacturing capacity in Auburn Hills to meet customer needs in the automotive sector, creating 368 new jobs.  

Meanwhile, LGES announced a $1.7 billion investment in March 2022 to expand operations in Holland – the battery maker’s first major expansion in Michigan since 2010. LGES’ expansion will quintuple the plant’s capacity to help produce battery components as Michigan’s electric vehicle industry grows. 

One-third of U.S. battery production and development takes place in Michigan.  

In the evening, the governor participated in a University of Michigan networking event to connect with local alumni, celebrating the National Championship football team and encouraging their continued engagement with their alma mater. 

On Thursday, the governor met with companies including SK Siltron and Hyundai Mobis, which both have a presence in Michigan, to discuss the state’s leadership within the semiconductor and automotive manufacturing industries. In August 2021, SK Siltron CSS announced plans to expand production of silicon carbide wafers. In September 2022, the semiconductor wafer manufacturer celebrated the ribbon cutting at its new manufacturing facility in Bay City. SK Siltron’s $300 million investment strengthened its commitment to Michigan and further boosted the state’s leadership in the national semiconductor supply chain.   

The governor also met with South Korean President Yoon to further build connections between Michigan and South Korea and attended a dinner with the Gyeonggi Provincial Government.

On the mission’s final day in Korea, the governor met with companies including LGES and Hyundai Motor Company to further tout the state’s leadership in automotive manufacturing and the electrification of mobility. 

In 2023, Business Facilities ranked Michigan No. 1 for Automotive Industry and EV Investment in its 19th annual rankings report.    

IRS Extends Tax Deadline for Filers Affected by August Storms

The Internal Revenue Service announced tax relief for individuals and businesses in parts of Michigan affected by severe storms, tornadoes and flooding that began on Aug. 24, 2023.

These taxpayers now have until June 17 to file various federal individual and business tax returns and make tax payments.

The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA). Currently, this includes Eaton, Ingham, Ionia, Kent, Livingston, Macomb, Monroe, Oakland and Wayne counties. Individuals and households that reside or have a business in these localities qualify for tax relief.

The same relief will be available to any other Michigan localities added later to the disaster area. The current list of eligible localities is always available on the disaster relief page on IRS.gov.

The tax relief postpones various tax filing and payment deadlines that occurred from Aug. 24, 2023, through June 17, 2024 (postponement period). As a result, affected individuals and businesses will have until June 17, 2024, to file returns and pay any taxes that were originally due during this period.

This means the June 17, 2024, deadline will now apply to:

  • Individual income tax returns and payments normally due on April 15, 2024.
  • 2023 contributions to IRAs and health savings accounts for eligible taxpayers.
  • Quarterly estimated income tax payments normally due on Sept. 15, 2023, Jan. 16, 2024, and April 15, 2024.
  • Quarterly payroll and excise tax returns normally due on Oct. 31, 2023, Jan. 31, 2024, and April 30, 2024.
  • Calendar-year partnership and S corporations that had a valid tax-year 2022 extension that ran out on Sept. 15, 2023, or have a 2023 return normally due on March 15, 2024.
  • Calendar-year corporations and fiduciaries that had a valid tax-year 2022 extension that ran out on Oct. 16, 2023, or have a 2023 return and payment normally due on April 15, 2024.
  • Calendar-year tax-exempt organizations that had a valid tax-year 2022 extension that ran out on Nov. 15, 2023, or have a 2023 return normally due on May 15, 2024.

In addition, individuals and businesses that had an extension to file their 2022 returns will also have until June 17, 2024, to file them. However, tax-year 2022 tax payments are not eligible for this relief because they were originally due last spring, before the disaster occurred.

In addition, penalties for failing to make payroll and excise tax deposits due on or after Aug. 24, 2023, and before Sept. 8, 2023, will be abated as long as the deposits were made by Sept. 8, 2023.

The IRS disaster relief page has details on other returns, payments and tax-related actions qualifying for relief during the postponement period.

The IRS automatically provides filing and penalty relief to any taxpayer with an IRS address of record located in the disaster area. These taxpayers do not need to contact the agency to get this relief.

It is possible an affected taxpayer may not have an IRS address of record located in the disaster area, for example, because they moved to the disaster area after filing their return. In these kinds of unique circumstances, the affected taxpayer could receive a late filing or late payment penalty notice from the IRS for the postponement period. The taxpayer should call the number on the notice to have the penalty abated.

In addition, the IRS will work with any taxpayer who lives outside the disaster area but whose records necessary to meet a deadline occurring during the postponement period are located in the affected area. Taxpayers qualifying for relief who live outside the disaster area need to contact the IRS at 866-562-5227. This also includes workers assisting the relief activities who are affiliated with a recognized government or philanthropic organization.

The IRS urges anyone who needs an additional tax-filing extension, beyond June 17, for their 2023 federal income tax return to request it electronically by April 15. Though a disaster-area taxpayer qualifies to request an extension between April 15 and June 17, a request filed during this period can only be submitted on paper. Whether requested electronically or on paper, the taxpayer will then have until Oct. 15, 2024, to file, though payments are still due on June 17. Visit IRS.gov/extensions for details.

SnackCraft’s Kentwood expansion to add 37 jobs, $29.9 million in capital investment

GRAND RAPIDS — The Right Place, Inc., in collaboration with the Michigan Economic Development Corporation (MEDC) and the City of Kentwood, announced SnackCraft will be expanding its headquarters at 4444 52nd St. in Kentwood, creating up to 37 new jobs and $29.9 million in capital investment.

SnackCraft LLC is a gluten-free, allergen-controlled contract manufacturer of baked and salty snack foods based in the City of Kentwood and is a subsidiary of Greece-based Unismack S.A. SnackCraft was established in Kentwood in 2022 as Unismack’s first North American manufacturing operations and its U.S. headquarters. The company is experiencing rapidly increasing demand for its products and plans to expand at its existing location.

First established in Greece in 2008, Unismack specializes in R&D and manufacturing high-quality, natural baked snacks free from allergens and artificial ingredients. SnackCraft’s products include baked crackers, tortilla chips, pellet snacks, and baked extruded snacks made of unique ingredients like lentil flour, chickpea flour, vegetable flours, whole grain corn, various seeds, and other innovative natural ingredients.

The company plans a 186,000-square-foot expansion resulting in 311,000 square feet of manufacturing, warehousing, and distribution space. The project will further boost Michigan’s agribusiness industry and bring immediate, well-paying jobs to the area. In addition, the project will bring immediate good jobs to the area and serve as the hub for the company’s future operations in North America.

“The expansion demonstrates our commitment to the area and enables the future growth potential for both existing and new customer opportunities, as well as securing SnackCraft’s long-term food manufacturing platform,” said Joseph F. Riley, CEO of SnackCraft.

The Right Place worked closely with MEDC to ensure the company continued its growth in the region rather than an out-of-state location. They offered support by effectively organizing state and local resources, including a 50-percent property tax abatement supporting the project from the City of Kentwood. This project will further boost Michigan’s agribusiness industry and bring immediate, well-paying jobs to the area as SnackCraft grows its hub for future operations in North America.

“I connected with SnackCraft in early 2022 when they were in the process of establishing their first North American operations here in Kentwood,” said Brent Case, VP of Business Attraction at The Right Place and project lead. “Being part of their journey, from the initial stages to helping with their expansion just over a year later, has been an incredible opportunity. I’m excited to see what’s in store for them moving forward.”

“The City of Kentwood is proud of our open for business culture and our commitment to collaborating with local, national and international companies to create jobs and foster economic growth in our community,” Kentwood Mayor Stephen Kepley said. “SnackCraft has been an excellent community partner, and we’re delighted to see the company continue to expand its operations and workforce in Kentwood and look forward to celebrating their continued success.” 

Information on careers with SnackCraft can be found here.

Better Made Celebrates National Potato Chip Day Thursday, March 14

DETROIT – Better Made Snack Foods – still made fresh daily in Detroit – is celebrating National Potato Chip Day on Thursday, March 14, marking the 171st anniversary of the potato chip.

What started as a practical joke became a staple in millions of homes across the United States and other countries. According to folklore, here’s the story of the joke that became an instant sensation: Potato Chips were first made in 1853 while Commodore Cornelius Vanderbilt was on vacation in New York. 

While at the Moon’s Lake Lodge, he kept sending his fried potatoes back to the kitchen because he said they were too thick and not crunchy enough. The chef, a Native American named George Crum, decided that he would slice them paper-thin, fry them in oil, and salt them as a joke to the Commodore. It backfired as they became an instant success and the restaurant became well known for them

In 1896 when chips became a staple in cracker barrels and in glass cases, a woman came up with the idea of using a heated iron and waxed paper to form the first potato chip bag. The bags were filled to order and they sealed shut with a warming iron. And believe it or not, during WWII, the government declared potato chips to be a nonessential food and banned their production. It wasn’t until a loud cry went up all over the country that they rescinded their order.

“Better Made potato chips have been a fresh, great-tasting snack food for 93 years,” said Better Made President Dave Jones. “We have an extraordinary fan base here in Michigan and that fan base continues to grow and spread across the United States.

“Our locally sourced potatoes and high-quality seasonings make our potato chips great, but it’s our loyal customers who consider Better Made a staple that keep us going,” he added. “Our flat rate shipping makes it easier than ever to send your favorite snacks to your favorite people anywhere in the contiguous U.S.”

The Evolving World of Private Security

Today’s world of private security service is a far cry from what it used to be. It’s eyes wide open and all business. The reality is private security is increasingly a
field with well-trained, highly vetted professionals armed with the latest technology, innovative practices and site-specific plans rather than a one-size-fitsall model of surveillance and response.

DQS Solutions & Staffing stands out as a pioneering force in this transformation. Their unwavering dedication to excellence and innovation has reshaped the landscape of private security, providing an array of services meticulously crafted to tackle the ever-evolving challenges of today’s world.

The criteria set by DQS for exceptional security includes:

  • Constant vigilance: Active guard supervisors maintain a watchful eye on 24/7 security cameras placed strategically across various locations, ensuring round-the-clock surveillance.
  • Immediate response: In the event of any suspicious activity or security breaches, active guard supervisors respond promptly, minimizing potential risks.
  • Collaborative efforts: Active guard supervisors who work closely with onsite security personnel, sharing real-time information and coordinating responses to ensure a seamless security operation.
  • Custom alerts: Customized alerts and notifications ensure that additional security resources are deployed as needed, whether it’s contacting law enforcement, emergency services, or backup personnel.
  • Documentation and reporting: Detailed reports that provide clients with insights into security incidents, response times, and overall security performance, fostering transparency and accountability.

Employing effective technology is another area vital in today’s competitive security market. DQS Solutions & Staffing, for instance, uses GPS Guard Tracking that utilizes a precise set of tracking metrics to continuously monitor and ensure the effectiveness of a client’s security team in any scenario.

DQS Solutions & Staffing (DQS) Achieves Success in Intelligently Investing in People

As the post-pandemic economy reshapes the landscape of the contract staffing industry, DQS Solutions & Staffing (DQS) has emerged as a shining example of innovation and compassion. Founded in 2020 by former auto industry logistics expert Josh Morris, DQS has experienced robust growth by redefining its role beyond traditional staffing. DQS has done so by evolving to meet client’s needs, solving barriers to employment, and investing in the communities they serve.

In response to the evolving gig economy, DQS has thrived by providing unique and unconventional services to its clients. DQS has pursued beneficial strategic partnerships to better serve corporate clients as a “sole source” staffing and business solutions provider. Quality staffing was merely the beginning. New branches of DQS have emerged directly in response to customers’ unique needs such as full-service security, warehousing, automation, snow removal and even food truck services.

DQS has a deep understanding of the complex challenges individuals face in obtaining employment. Since its inception, the company has proactively assisted those struggling to secure jobs through office placements in communities facing underemployment. The company collaborates with employers in diverse industries to understand the potential of individuals on unconventional paths to employment. In response to the evolving modern workforce, DQS remains attentive to developments, such as creating custom launch programs in collaboration with employers, exemplifying its transformative contribution to the contract staffing industry.

DQS’s commitment to local communities is evident through its new non-profit, Foundation for Pops, which focuses on providing comprehensive assistance to individuals experiencing homelessness and veterans seeking a fresh start. The foundation’s mission involves tailored programs to address unique needs, connecting individuals with essential resources like shelter, food, clothing, and personal hygiene item

Fed Chair Says Rate Cuts Coming, No Hikes Expected

Fed Chair Jerome Powell said again Wednesday that the Federal Reserve will cut its key interest rate this year, though not right away.

First, Powell said he wants to see more evidence that inflation is falling sustainably back to the Fed’s 2% target.

Powell noted that inflation is slowing for both goods and services and did not express concern about the government’s latest inflation data, which showed some pickup in price increases in January, according to a report from The Associated Press. Instead, he said that, according to the Fed’s preferred gauge, inflation “has eased notably over the past year” even though it remains above the Fed’s target.

The Fed chair’s remarks, in prepared testimony to a House committee, echoed the message he expressed at his most recent news conference on Jan. 31. At that time, he said the Fed’s interest-rate setting committee needed “greater confidence” that inflation was nearly in check before it would reduce its benchmark rate.

In his remarks Wednesday, Powell offered no hints on the potential timing of rate cuts, the AP reported. Wall Street traders put the likelihood of a rate cut in June at 69%, according to futures prices, up slightly from about 64% a week ago.

Powell also said the Fed’s policymakers believe they are done raising rates, which are likely high enough to restrain the economy and inflation.

Moderate Job Growth Expected After Strong January

Job growth likely moderated in February after an unexpectedly-strong 353,000 jobs added in January, which surprised to the upside considering that winter weather disrupted consumer spending and housing activity during the month. The unemployment rate is likely to edge higher in February on an increase in labor force participation. Wage growth likely moderated slightly but continues to run hotter than before the pandemic. 

The ISM Services PMI is likely to indicate moderating economic activity in February, but still continued growth. The uptick in mortgage rates since January likely slowed housing activity in the month, which influences the Services PMI. The Fed’s Beige Book is likely to report modest growth in economic activity, with slower price increases after businesses made large turn-of-year hikes to inflation-indexed healthcare billing rates in January. Consumer credit likely rose modestly in January after little change in December. January’s drop in auto sales likely weighed on auto loan balances.

Economic growth in the fourth quarter of 2023 was revised down a tenth of a percent to a seasonally-adjusted annualized rate of 3.2% in the “second” estimate of real GDP. While the headline number was little changed, the details showed notable upward revisions to growth of consumer spending, residential investment, nonresidential fixed investment, and state and local government spending. These upward revisions were offset by a headwind from a drop in private inventories.

The GDP Price Index, the broadest measure of price pressures in the economy, and the Personal Consumption Expenditures Price Index, the Fed’s preferred measure of inflation, rose at annualized paces of 1.6% and 1.8%, respectively. The Fed, however, is likely to find little solace in last quarter’s inflation prints, as a slew of more up-to-date readings, such as January’s Personal Consumption Expenditures Price Index, Producer Price Index, and ISM Services PMI point to a pick up in price pressures, especially in the services sector, in which prices change infrequently. 

Personal income jumped 1.0% in January, far exceeding the 0.4% consensus. Incomes grew broadly with robust increases in dividends, wages and salaries, and social security payments. The good news, however, was offset by higher personal current tax payments, which surged by 6.0% in January, resulting in no gain of real disposable personal income. Weather’s adverse impact on the economy was yet again apparent, with real personal consumption expenditures slipping by a tenth. Spending on goods took the brunt of the impact and fell 1.1%, while expenditures on services, which are less prone to weather disruptions, rose by 0.4%.  

The personal consumption expenditures (PCE) price index rose by 0.3% on the month and slowed to 2.4% from a year earlier. The core PCE price index, which excludes volatile energy and food prices, rose by 0.4% in January and was up 2.8% from a year earlier. Service prices, which jumped by 0.6%, accounted for all of the price increases in January.

Bill Adams is a senior vice president and chief economist at Comerica. Waran Bhahirethan is a vice president and senior economist at Comerica.

Stellantis Fires 341 Part-Time Workers at Toledo Plant

Stellantis has fired some 341 workers at its Toledo Jeep plant, a local union official said Monday.

The Detroit News reported that workers at the Toledo Assembly Complex received automated calls from Stellantis Sunday informing them of their firing, effective immediately, Mike Sawaya, the United Auto Workers Local 12 shop chairman for the plant, told The News.

According to The News report, a transcript of the recording said the layoff focused on so-called supplemental employees – temporary part-timers – who make less money and get fewer benefits and help cover shifts for full-time workers at the facility. The Toledo plant makes the Wrangler SUV and Gladiator pickup.

“The call went out yesterday to terminate all but 50 (supplemental workers),” Sawaya told The News in a text message. “They plan to keep that 50 for a little bit then terminate them as well.”

The cuts at Jeep are part of larger moves by the company to slash its supplemental workforce following its new contract with the UAW last fall, according to The News. An unknown number of additional supplemental workers at other Stellantis plants in the U.S. were also terminated in recent days and, in January, the company announced 539 of the workers were being terminated across several plants.

“As part of our normal course of business, Stellantis regularly analyzes staffing levels at our manufacturing facilities to ensure they are operating as efficiently as possible,” a company statement said. “Following an operational review, and to ensure compliance with contractual commitments, the Company is reducing the number of Supplemental Employees across much of our U.S. footprint.”

GM Producing Hydrogen Fuel Cell Trucks for Worksites

When it comes to electrification, GM is serious about introducing a range of zero tailpipe emissions vehicles and applications. From lithium-ion batteries to hydrogen fuel cells, GM is dedicated to helping other companies integrate these solutions into their business operations — and that extends beyond just the fuel cells and batteries. 

GM’s latest fuel cell-related project is a hydrogen-based worksite ecosystem, centered around its fleet of medium duty fuel cell trucks. With funding awarded from the Department of Energy’s SuperTruck 3 program and the Hydrogen and Fuel Cell Technologies Office, GM is spearheading a pilot program that demonstrates real life applications of fuel cells for fleet and commercial customers.

Built on a similar frame to the 2024 Chevrolet Silverado 5500 MD, these field evaluation fleet trucks will be powered by HYDROTEC fuel cell systems. The prototype trucks are expected to have a GM-estimated range greater than 300 miles1 and a 19,500-pound gross vehicle weight rating. The trucks operate in a native 800V architecture and can produce more than 300kW peak power. 

Southern Company, one of the United States’ largest utility companies, will receive HYDROTEC fuel cell-powered medium duty trucks to be used as shop vehicles at its worksites. Southern Company, together with GM and Nel ASA, will also demonstrate an integrated hydrogen microgrid for fueling infrastructure, including a stationary fuel cell-based mobile power generator. Nel, a world-leading electrolyzer company, will provide the project with its advanced PEM electrolyzers, which can help create green hydrogen onsite. 

“These trucks and their accompanying hydrogen infrastructure can help enable a zero-emissions solution for HD and MD truck customers looking to meet their clean energy goals as well as reduce their operational noise and carbon footprint,” said Charlie Freese, executive director of global HYDROTEC. “GM’s advanced fuel cell technology gives these trucks a competitive edge against their diesel counterparts, with comparable towing and payload capabilities.” 

Hydrogen fuel cells are a key component of GM’s electrification strategy, which extends beyond battery-powered passenger vehicles. Fuel cells combine hydrogen and oxygen to generate electricity through an electrochemical reaction. The fuel cell enables the conversion of energy stored in hydrogen into electricity to power a vehicle. 

Since fuel cells are lightweight and enable large payloads, excellent range, quiet operation and rapid refueling, they can meet the needs of the heaviest duty applications. With regulations rapidly changing in many countries, fuel cell-powered vehicles have the added advantage of zero tailpipe emissions when compared to diesel vehicles. 

A key pillar of GM’s electrification strategy is developing foundational technologies that will help other industries and companies meet their clean energy goals. GM’s HYDROTEC fuel cells both can help fleet customers meet changing regulations in states like California, as well as help meet their own sustainability goals and potentially reduce fleet costs over time.

In addition, GM Envolve was formed specifically to help fleets make the transition to electric and fuel cell vehicles, and to work with and provide them with the broad spectrum of GM technologies, including fuel cells. GM Envolve also works with fleets and hydrogen infrastructure providers to help establish hydrogen hubs where the fleets need it most.

This microgrid project, developed by Southern Company’s electric subsidiary Georgia Power with approval by the Georgia Public Service Commission, is expected to be located at a Georgia power plant. Southern Company, GM and Nel intend to use their microgrid approach to create green hydrogen at off-peak hours and use it to power the site’s operations when grid power is most expensive. This stacked value system can enable both a more affordable and low-emissions approach, which can improve the economics and resiliency of the installation. 

GM’s fuel cells will also help provide power for a 350kW fast charger for medium-duty battery electric vehicles and resilient power for the site. Ultimately, Southern Company’s approach could help support sustainable infrastructure and transportation for the future. 

Separately, the U.S. Army’s Ground Vehicle Systems Center (GVSC) is supporting the development of the fuel cell propulsion systems in these medium duty trucks with additional funding.

The initial field evaluation fleet prototypes were built in Southeastern Michigan, with testing taking place at GM’s Milford Proving Ground. 

U.S. Job Openings Hold Steady Near 9 Million

January saw a minimal change in the number of job openings across the U.S., but such openings remained elevated, suggesting that the American job market remains healthy.

Statistics released by the Labor Department Wednesday say U.S. employers posted 8.86 million job vacancies in January. That’s down a bit from the 8.89 million posted in December.

Layoffs fell modestly, but so did the number of Americans quitting their jobs — a sign of confidence they can find higher pay or better working conditions elsewhere, the Associated Press reported.

Job openings have gone down since peaking at a record 12 million in March 2022 as the economy began to recover from COVID-19 lockdowns. But they remain at historically high levels: Before 2021, monthly openings had never topped 8 million, the AP reported.

Employers have added an average of 244,000 jobs a month over the past year, including 333,000 in December and 353,000 in January.

“For many, job security remains high,” Nick Bunker, economic research director for North America at the Indeed Hiring Lab, told the AP. ”But the temperature of the labor market is not rising: if anything, it’s dropping.”

CEO Takes Engineering Firm From Basement to Global Success

CEO Thought Leadership WEBSITE- Wilbur Mil

Wilbur Milhouse has built Chicago-based Milhouse Engineering and Construction company into such a globally successful company one might never guess it actually started in his basement and seeded with money he earned delivering pizza.

Milhouse, the company’s chairman and CEO, had a vision to create a different – a better – engineering firm. But what he lacked, at least at first, was the brick-and-mortar facility from which to launch it.

So Milhouse, a graduate of the University of Illinois, Urbana-Champaign and now holding engineering licenses in eight states plus the District of Columbia, did what he had to do and got started in the unfinished basement of his southwest-Chicago home.

That was in December 2001. By his own accounts, the business got off to a decent start earning about $100,000 in revenue – “Not terrible, but pretty decent,” he said – and by 2003 Milhouse Engineering had collected, but not yet started, a couple of projects.

Since his professional licenses were connected to his business, Illinois law prevented Milhouse from going to work for other companies. But these contracts were coming up.

“I knew by the time March came around I was finishing up some other work, but if it didn’t start, I was going to need to do something,” Milhouse said. “So my choices were go and throw boxes at UPS or deliver pizza at night. I chose to deliver pizza because … I could control my hours a little bit better, I get cash every night.

“I used to deliver pizza … in college when I was raising my family and going through school. So I knew how to do it.”

Milhouse told that story and talked about a variety of other business issues during the most recent episode of “CEO Thought Leadership Series on LinkedIn Live,” the discussion series hosted by the National Association for Business Resources.

Produced in conjunction with the Best and Brightest Companies to Work For and Corp! Magazine, the series is hosted by NABR CEO Jennifer Kluge and features business leaders from around the country.

Jennifer Kluge: Give everyone a 30-second overview of the various projects that you’ve done or are doing in the various areas of expertise of Milhouse.
Wilbur Milhouse: Milhouse Engineering and Construction is comprised of several different units in the aviation space, water, wastewater space, the facility space, the transportation space and gas and power environmental program management, project management. Then we have a branch that does general contracting. Then we have a forestry business that’s based down in Atlanta, and then we have a development business that’s based here in Chicago. So we do a little bit of everything.

Kluge: Anything that stands out as a project that you’re most proud of?
Milhouse: I’m very proud about the work that we’re doing at O’Hare Airport and many of our airports. Whenever I’m flying back to Chicago and I take off or land on runway ten center, there’s a sense of pride because that was one of our genesis projects after I was delivering pizza that we had won. And then it started literally or figuratively taking us off.

Kluge: A culture comes from the top. It’s a full-time job. What experience do you want for a team member working at your company?
Milhouse: That’s a great question. And then it really starts from the root of why I create it now. So when I created Milhouse, I wanted to create something better than I worked at before. I wanted to create something that I felt that people can be proud to wear across their channels, that I wanted folks to really embrace the company. It’s being part of the family.

Kluge: You created Milhouse Charities. What’s the purpose and what are your goals there?
Milhouse: Being philanthropic is part of our DNA. I look for opportunities to give back in various different ways. And after starting a company and becoming more successful, I would do it kind of haphazardly. And then I started to think about how to focus and to channel our dollars. And one of the things that’s most important to me are very important to me is to inspire your children that are in the math and sciences, to continue to be in the math and sciences and do well and give them victories and applaud their accomplishments.

Kluge: Somebody once told me it’s not about making great things happen in great crowds. It’s about making great things happen at an individual level that makes change. I’m sure your team members also rally around as far as the energy project in Nigeria. How did that start?
Milhouse: I went on a trade mission back in 2013 with five or six other individuals from the Chicagoland area over to Nigeria. I was really just floored by all of the potential opportunity in this country today that is numbering probably over 200 million people. But their resources were very woeful and in need of repair. So I saw everything that we could be doing — schools, libraries, police stations, roadways, water systems, electrical systems, everything, anything that you can think of. So after really understanding that it’s not as mature as in America … that country is probably 100 years behind us in many different aspects, expressly that you even think about the basic things like power.

So my philosophy related to Nigeria is if I can create power, I can create a middle class because I can create industry and we can create jobs. So that that’s what we’ve been up to.

Kluge: Can you share a monumental moment or two, things that you were worried about?
Milhouse: We are going through one of those moments right now. As we continue to build — we’re somewhere near 500 folks today — it seems like there’s iterations of our growth. When we went from like 50 to 100 and got to be about 120, we had to change almost everything. Our processes, everything the way we operate, because most of those things, the way I built them at the beginning, started falling apart.

And usually that leads into other financial issues that we’re all over the place. And so the first one probably happened back around one of our times when it was very tough in the country in 2008, nine, ten where we were growing steel, but all of our systems were falling apart and we had to do a lot of changing up the way we were doing things and really figuring out how to operate better and really studying other firms and and being able to really see and have reflection on ourselves.

Kluge: What are your thoughts on the changes in the last four years … the workforce has changed, attitudes have changed, What’s working and what’s not working?
Milhouse: I think there are good things that came from the last four years. I think it allowed us to be at a place where a person doesn’t have to be in the office, but I also think that many individuals have taken advantage of that flexibility to some extreme, which makes it hard for those who actually perform well at home.

And I don’t subscribe to everyone needs to be in the office. We have a superstar developer who works 100% remote and she’s fantastic.

Kluge: What trends are you seeing that other executives can learn from within your industry?
Milhouse: Right now, I think it’s holding steady. I’m looking at our utility space very closely. I’ve seen in a few locations where various rate cases were not approved related to those utilities having certain rates that they can charge their customers, which has reduced the amount of work in which that utility needs to do to keep the infrastructure solid.

So those are concerning things that that I’ve seen in two different regions. But most of the regions, especially in that space I’ve seen, be very solid. The transportation space seems to be very, very solid. The housing market is a bit shaky. We don’t do a lot of work in the housing market very, very little, not a lot of work with developers in that space or others in the Chicagoland area.

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