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Costello said that flatbed carriers with large fleets and high exposure to the housing sector are feeling the pinch. Costello projects a 20% drop on housing starts, their lowest level in 2016 Mike Regan (chief relationship officer and founder, TranzAct), a freight bill payments services company, stated that the next year could present a challenge for shippers.

He spoke with Bloomberg to discuss the similar threats facing the economy today. During a speech at Stanford University last week, World Bank president David Malpass warned that a “perfect storm” of rising interest rates, high inflation, and slowing growth could help trigger a global recession. In an attempt to slow down the sky-high inflation, central banks around world, including Federal Reserve, have aggressively increased interest rates in recent weeks. While these policies are intended to cool down the economy, they also elevate the risk of a recession. As the response from economists and global organisations regarding whether there will be a recession in 2023 and the effects of recession on the economy is mixed, it’d be wise for investors to keep themselves prepared for the event.

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Is There A Possibility Of A Recession By 2023? Analyzing The Impacts & Risks

The BOE intervened to rescue financial markets and bought UK bonds. However, the ripple effects from Trussonomics turmoil extend far beyond the offices bond traders. European bond yields are also spiking as central banks follow the Fed’s lead in raising rates to shore up their own currencies. The pandemic era has seen business boom across industries, even though historically high inflation has impacted profits.

• David Kelly, chief global strategy at JPMorgan Asset Management said that if a recessive event does occur, it will be “much more mild” than the one that occurred during the great financial crisis and the pandemic.
• Our Team Account subscription is for legal teams consisting of four or more lawyers.
• These risks include currency fluctuations and political and economic uncertainty in foreign countries.
• For companies with strong finances, the downturn may be an opportunity to access scarce talent, particularly in digital fields.
• ESG programs are used to guide corporate investments. They use criteria such as sustainability, philanthropy, safety and health.
• Morgan Stanley Wealth Management has no obligation to provide updated information on the securities/instruments mentioned herein.

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It can sometimes prove difficult to predict when a country might enter recession. Many of these products are from our partners who pay us a commission. However, our editorial integrity assures that the opinions of our experts aren’t affected by compensation. Tech and media sectors are already seeing layoffs and cost-cutting measures, which could be a negative sign for other industries. Recessions can cause a spike in unemployment. You may not be able avoid a layoff but you can prepare.

Is The Us In A Recession? The Latest News On The Stock Market, Layoffs And Inflation

This subscription will give you unlimited access to premium online content of high quality from respected faculty in the legal field. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas. License our industry-leading content to increase your thought leadership. She said that once that happens, the Fed will likely be slow in reversing rate hikes, as it wants to end inflation.

If rising interest rates succeed in cooling the market, some talent pools–especially those for digital skills–might open up. Many tech companies already have announced hiring freezes. Crypto companies have also begun layoffs. These companies’ management teams can begin with a thorough review, then focus on the P&L and balance sheet simultaneously (see sidebar “Taking stock”) Although they must contend with inflation, control spending, build operational resilience, and sweeten the deal to retain the workforce, the challenge is not confined to the P&L. These companies can make working capital a priority, look for opportunities to free cash, manage long-term liability, and exit non-profitable or noncore business that don’t provide liquidity benefits.

Unfortunately, bond markets, which are a safe haven when stocks and other assets fall, are also in tailspin. Apple stock dropped on Tuesday after Bloomberg reported that the company had abandoned plans to increase production of the iPhone 14 after lower demand. Mid-September saw investors experience a shock from one company whose fortunes served as an economic bellwether. Consumer spending accounts for roughly two-thirds of US gross domestic product. Consider other ways to earn more money–be it asking for a raise or adding another revenue stream through a side hustle.

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Management can now shift away from growing at any expense to generating cash flows, focusing on profitable and steady growth. This shift may take different forms depending on which industry you are in. Many of these companies are able to review their sales and market strategies to enable efficient, profitable growth. This is not a one-time effort. It will take time to build the long-term capabilities that will allow you to reap the benefits over the long-term. Sometimes, operations departments can be developed.

It is said that sunlight is the best disinfectant. A gimlet-eyed assessment can help management teams see past their biases to discover the strengths and weaknesses within their companies. Activist investors identify the main reasons for underperformance. This could be weaker margins or weaker growth. They push hard to understand which parts of a business create economic value and which do not and suggest how companies can unlock trapped value. As a starting point for the next turn in the business cycle, companies can’t do better than to understand how they compare with others in the cold light of day.

Roubini has not been the first to express his pessimistic views regarding the future of the economy. Roubini, who warned of a new “great depression”, predicted that the U.S. would be hit by a new “great recession” in 2020. He cited rising debt levels. And in July, Roubini predicted that a “severe recession and a severe debt and financial crisis” was just around the corner due to the growing number of zombie companies in the economy.

GPS Trackers Can Potentially Help Save Millions for Public Schools

GPS Tracking Systems Good for Public School Buses

The public school bus system in Cobb County, Georgia, has been utilizing GPS tracking systems to monitor and track its fleet of school buses. Prior to implementing the new GPS tracking technology, the county received numerous calls each day from flustered parents whose children were not picked up by the bus that day.

Whether the child overslept and missed the bus or the driver actually pass by the stop, school administrators had no way of confirming which reason it was. As a result the district paid for the additional gas, and sometimes overtime, to send a bus driver back out to pick up the child.

Since installing the GPS trackers, those so-called “courtesy runs” have been drastically reduced, as have parent complaints. And Cobb County school officials are crediting a device that’s no bigger than a cell phone.

The GPS tracking system monitors the current location of each school bus in its fleet, if and when a bus is stopping to pick up children and the speed limit. School administrators say the GPS devices provide crucial data to help create a better, safer service to and from school. However, driver advocates argue that they are an unnecessary expense, coming at a time when the school system can least afford it. They also argue that the devices are being unfairly used against the bus drivers.

“This system provides a level of safety equal to a supervisor on every bus,” said Lynn Simpson, the director of Fulton County Schools’ transportation department.

Although the GPS system costs about $600,000 a year, school officials say it saves $1.2 million annually by cutting down on gas mileage and driver overtime.

Bus GPS Fleet Tracking Provides More Than Cost-Savings

Administrators have used the GPS system to track how long bus drivers are on the road, which they say has effectively lowered overtime costs by cutting down on the timesheet exaggerations or inaccuracies that sometimes happen when they rely on drivers memories. This not only allows them to keep more accurate times on their drivers, they also provide a greater degree of accountability for both drivers and administrators.

The GPS devices also help the school system map more efficient routes. This allows drivers the ability arrive at their designated stops on time in the case of detours or accidents.

More importantly, administrators say the complaints made by parents have gone down since using the GPS tracking system.

“Now we know, for a fact, if buses are stopping on time,” said Rick Grisham, the director of Cobb’s transportation department. “Before, we were relying on bus driver and parent testimony.”

However, bus driver advocates say managers are using the data obtained from the tracking technology and using them against bus drivers, accusing them of speeding, driving recklessly, getting lost and dropping students off at school late.

“Employees don’t feel, as a whole, that the technology is being used to work together but as another tool to isolate individuals and go after them for termination,” said Mark Perez, a field representative for the Georgia Association of Educators, which advocates for bus drivers.

Perez said the costs are extraordinary at a time of state austerity cuts.

“Districts are reducing bus routes they offer to parents and reducing salary and benefits to employees to make up for the budget shortfalls,” Perez said. “And yet they’re spending a large amount of money for a new system that seems to be nice, but are they the most prudent expenditures inside the current economic situation? It’s like you would like to put in a nice deck or build a new pool but your house is upside down in mortgage. It’s not good math.”

Grisham, however, stands in full support for the new tracking system, as well as for the other tools that the administration has implemented to provide a safer, more efficient and cost-effective service for its students.

“It’s a non-stop battle to come up with ways to keep students safe,” Grisham said. “Minutes and seconds matter a lot in our business.”

Real-time GPS tracking systems, such as Tracking System Direct’s Connect GPS, can potentially help public school systems like Cobb County save millions in wasted time and fuel costs. It allows dispatchers and fleet managers the ability to monitor and track each bus in real-time from an internet-enabled computer, laptop or even a mobile device, such as a smartphone or tablet, without having to contact the drivers and asking where they are.

And with the ShareSpot® feature, parents will be able to see precisely where their buses are in real-time from the school district’s website. This is especially helpful during inclement weather conditions. Parents can track where their buses are along its route and have their children at their stops right when the bus arrives instead of having to wait around and guess.

For more information about Tracking System Direct and the companies’ real-time GPS fleet management solutions, please visit them online at:

https://www.trackingsystemdirect.com