Labor & Employment

Having reached a 15-year peak on February, consumer confidence reached a new peak in March, now standing at its highest level in 16 years.   The index's current reading is 125.6, up from 116.1 in February.   “Consumer confidence increased sharply in March to its highest level since December 2000 (Index, 128.6),” said Lynn Franco, director of economic indicators at The Conference Board.   

Later this week, the nomination of Alexander Acosta to be the next Secretary of Labor will likely be voted out of the Senate HELP Committee and head for confirmation on the Senate floor. The administration made headlines just prior to his confirmation hearings outlining cuts to the Department of Labor budget in the neighborhood of $2.5 Billion or roughly 20%.   

The online giant is about to break ground on another fulfillment center.   The new facility, which will be more than 1 million sq. ft., will be located in Clear Brook, Virginia. The fulfillment center will employ more than 1,000 full-time associates who will be responsible for picking, packing and shipping larger customer items, such as big-screen televisions, kayaks and patio furniture.  

Rent-A-Center Inc. has taken action to reduce the likelihood that an investor gains unsolicited control of the company.   The nation's largest rent-to-own operator has adopted a stockholder rights plan, or a so-called poison pill, that would become exercisable if a group buys 15% or more of its outstanding shares.  

A Publix Super Markets associate who started his career with the company as a part-time meat cutter has been named VP of real estate strategy.   Publix promoted Bob Balcerak to the top real estate post, effective April 3, 2017. As VP, he will oversee the selection of new sites and management of leased properties for Publix stores.     

Colliers International has announced the hiring of Wayne L. Kasbar as managing director in its Parsippany, New Jersey, office. He will focus on the retail sector.   Kasbar comes to Colliers from Silbert Realty & Management Company, where he oversaw the brokerage team covering New Jersey, New York, Pennsylvania, and Connecticut. Prior to that, he spent five years at Trammel Crow, now part of CBRE, leaving there as VP of brokerage services.  

Nordstrom Inc. is expanding its supply chain management team.

Brent Beabout

 

The failure of President Trump and the Republicans in Congress to repeal and replace the Affordable Care Act was shocking enough for business owners but it is the road ahead that should give operators some real heartburn.