Welcome!

News Feed Item

Averting the 'Fiscal Cliff' Has Wider Ranging Effects Than Expected

American Auto Move to Benefit from Congressional Action

DAVIE, Fla., Jan. 2, 2013 /PRNewswire-iReach/ -- As Washington took last minute action to avoid the so-called 'Fiscal Cliff', businesses are changing their outlook for the next year. Avoiding the Cliff means that the Bush Tax Cuts will remain in place for 98% of Americans. The Cliff, an artifice manufactured by Congress to force action on the budget, would have raised taxed and cut federal spending across the board. By putting a deal together at the 11th hour, Congress was able to avert billions of dollars from exiting the economy.

Wall Street reacted to the news immediately, adding nearly 2.4% to the Dow Jones Industrial Average on the first day of trading in 2013. Although how small and medium sized businesses, as well as consumers, will react to the deal still remains dubious, the early indicators are positive.

The prospects for some have improved dramatically since Tuesday, however. Steve Green, Lead Sales Strategist for American Auto Move, believes that 2013 would be an even stronger year than expected after a deal had finally been struck. "The truth is that if people don't have money in their pockets, they can't spend. And if they're not spending, everybody gets burned – especially small and medium sized businesses like ours. Transport is considered by some to be a luxury, so even the perception that taxes are going up, that people are going to have to budget their expenses more, and so on, forces a bit of a pull back on what people are willing to spend with us. But with a deal in place, we know that things aren't going to get any worse, at least from a consumer spending perspective. And now that we know more or less what our tax situation will look like in 2013, we are ready to make the necessary investments to grow."

The automotive industry, which appears to have made a sizable resurgence since the Auto Bailout Deal, is one of the most important sources of business for American Auto Move, and a fiscal deal in Washington means that the outlook for that sector should remain upbeat. "Specifically, we're looking at how the automotive industry is going to perform in light of this deal. Car dealerships are a huge revenue stream for us. If people are buying new cars, the dealerships have more work for us." Mr. Green also suspects that internet sales will continue to grow at fever pitch as consumers will most likely have a sunnier economic outlook in general.

But the deal that averted imminent disaster on Tuesday does little to solve the long term fiscal issues that the country faces. Both parties are digging in for another showdown over the nation's debt limit, and the overall deficit problem has yet to be tackled in earnest. And while these issues still loom large in the mind of decision makers, the immediate relief of actions taken by Congress will suffice for now. "We're not worried about the debt limit debate right now. The way we see it is that if Congress can make it through [the Fiscal Cliff negotiations] without utterly imploding, then we'll most likely be able to do enough dealing to avert disaster."

Many forecasters had seemed to take the idea that Washington would reach a deal as inevitable, but given how close the country came to stepping over the precipice, some are still unsure, but optimistic about the future. "It all boils down to what people are willing to spend," says Mr. Green. "If people are ready to spend a little extra on auto transport, I'm sure consumer spending will be up across the board."

Media Contact: Bobby Russell, American Auto Move, 954-854-0694, [email protected]

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE American Auto Move

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Stratoscale, the software company developing the next generation data center operating system, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Stratoscale is revolutionizing the data center with a zero-to-cloud-in-minutes solution. With Stratoscale’s hardware-agnostic, Software Defined Data Center (SDDC) solution to store everything, run anything and scale everywhere...
Digital payments using wearable devices such as smart watches, fitness trackers, and payment wristbands are an increasing area of focus for industry participants, and consumer acceptance from early trials and deployments has encouraged some of the biggest names in technology and banking to continue their push to drive growth in this nascent market. Wearable payment systems may utilize near field communication (NFC), radio frequency identification (RFID), or quick response (QR) codes and barcodes...
Angular 2 is a complete re-write of the popular framework AngularJS. Programming in Angular 2 is greatly simplified – now it's a component-based well-performing framework. This immersive one-day workshop at 18th Cloud Expo, led by Yakov Fain, a Java Champion and a co-founder of the IT consultancy Farata Systems and the product company SuranceBay, will provide you with everything you wanted to know about Angular 2.
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
Unless you don’t use the internet, don’t live in California, or haven’t been paying attention to the recent news… you should be aware that self-driving cars are on their way to becoming a reality. I have seen them – they are real. If you believe in the future reality of self-driving cars, then continue reading on. If you don’t believe in the future possibilities, then I am not sure what to do to convince you other than discuss the very real changes that will roll out with the consumer producti...
SYS-CON Events announced today that Men & Mice, the leading global provider of DNS, DHCP and IP address management overlay solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. The Men & Mice Suite overlay solution is already known for its powerful application in heterogeneous operating environments, enabling enterprises to scale without fuss. Building on a solid range of diverse platform support,...
SYS-CON Events announced today that Peak 10, Inc., a national IT infrastructure and cloud services provider, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Peak 10 provides reliable, tailored data center and network services, cloud and managed services. Its solutions are designed to scale and adapt to customers’ changing business needs, enabling them to lower costs, improve performance and focus inter...
You deployed your app with the Bluemix PaaS and it's gaining some serious traction, so it's time to make some tweaks. Did you design your application in a way that it can scale in the cloud? Were you even thinking about the cloud when you built the app? If not, chances are your app is going to break. Check out this webcast to learn various techniques for designing applications that will scale successfully in Bluemix, for the confidence you need to take your apps to the next level and beyond.
In his session at @ThingsExpo, Chris Klein, CEO and Co-founder of Rachio, will discuss next generation communities that are using IoT to create more sustainable, intelligent communities. One example is Sterling Ranch, a 10,000 home development that – with the help of Siemens – will integrate IoT technology into the community to provide residents with energy and water savings as well as intelligent security. Everything from stop lights to sprinkler systems to building infrastructures will run ef...
In the world of DevOps there are ‘known good practices’ – aka ‘patterns’ – and ‘known bad practices’ – aka ‘anti-patterns.' Many of these patterns and anti-patterns have been developed from real world experience, especially by the early adopters of DevOps theory; but many are more feasible in theory than in practice, especially for more recent entrants to the DevOps scene. In this power panel at @DevOpsSummit at 18th Cloud Expo, moderated by DevOps Conference Chair Andi Mann, panelists will dis...
Whether your IoT service is connecting cars, homes, appliances, wearable, cameras or other devices, one question hangs in the balance – how do you actually make money from this service? The ability to turn your IoT service into profit requires the ability to create a monetization strategy that is flexible, scalable and working for you in real-time. It must be a transparent, smoothly implemented strategy that all stakeholders – from customers to the board – will be able to understand and comprehe...
See storage differently! Storage performance problems have only gotten worse and harder to solve as applications have become largely virtualized and moved to a cloud-based infrastructure. Storage performance in a virtualized environment is not just about IOPS, it is about how well that potential performance is guaranteed to individual VMs for these apps as the number of VMs keep going up real time. In his session at 18th Cloud Expo, Dhiraj Sehgal, in product and marketing at Tintri, will discu...
So, you bought into the current machine learning craze and went on to collect millions/billions of records from this promising new data source. Now, what do you do with them? Too often, the abundance of data quickly turns into an abundance of problems. How do you extract that "magic essence" from your data without falling into the common pitfalls? In her session at @ThingsExpo, Natalia Ponomareva, Software Engineer at Google, will provide tips on how to be successful in large scale machine lear...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
As the rapid adoption of containers continues, companies are finding that they lack the operational tools to understand the behavior of applications deployed in these containers, and how to identify issues in their application infrastructure. For example, how are multiple containers within an application impacting each other’s performance? If an application’s service is degraded, which container is to blame? In the case of an application outage, what was the root cause of the outage?