‘Tis the season to be jolly, or so the song tells us.
And there’s a lot to like as 2010 fades in the rearview mirror:
• The stock market is on a roll;
• Many companies are sitting on stacks of cash;
• The housing market is looking better;
• Even retailers, who are never REALLY happy, seem pleased with holiday sales;
• And everybody is getting a raise, thanks to Uncle Sam’s largesse (even if that means the bill will be sent to the next generation).
So why does the business community seem so apprehensive as we head into the new year?
It could be, as this week’s cover story points out, that industry after industry is hunkered down for the expected siege from short-sighted legislators looking for quick fixes to the state’s long simmering budget crisis.
But really, the answer is much simpler: It’s the jobs or, more accurately, the lack of them.
Some economists are talking about a sort of economic Post Traumatic Stress Disorder among executives. Intellectually, they see the economy coming back. In their own sectors, they see opportunity. But they’re reluctant to pull the trigger on hiring because the memory of the bubble bursting is just too fresh. Instead, they turn to tempos and contract workers that come with no strings and no benefits. But that also means they come with little loyalty and little impact on the larger economy.
That’s no way to build an economy and no way to build a business.
It’s been almost 70 years since Franklin Delano Roosevelt told Americans the “only thing we have to fear is fear itself.”
FDR lived in a world of fireside chats rather than the 24-hour news cycle fueled by polarized screaming heads. Delivering a calming message was easier then. But the prescription seems to be the right one for the condition that ails us today.
So our suggestion for the New Year is this: Take two aspirin and a deep breath, then go hire some people to expand your business. In the long run, we’ll all be glad you did.
Knights Of The Nutmeg?
In Great Britain, the queen regularly bestows knighthood on those who have made extraordinary contributions to the realm. Often, these honors go to those who have generated vast business activity that fed the nation’s coffers or to those who brought great honor to the nation.
Here in the former Colonies, we’ve long chafed at such things as knighthood. But maybe, just maybe, we’re missing something here.
If Connecticut had such an honor — perhaps the Nutmeg Cluster — Governor-elect Dan Malloy could start his reign off with a bang by bestowing it on UConn’s Geno Auriemma and Maya Moore.
Yes, breaking the consecutive win record got the headlines and it’s a wonderful accomplishment. So, too, are the multiple national championships.
But the reason Connecticut will remember these folks is the national exposure and credibility UConn women’s basketball has provided at a time when things haven’t always been going the state’s way.
Connecticut women’s basketball has become an economic engine, luring the Big East championships to Hartford and delivering crowds to an otherwise quiet downtown nighttime scene. Perhaps even more importantly, their ongoing success gives Connecticut residents something to be proud of.
And that’s well worth a bit of Nutmeg love.
