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
As data explodes in quantity, importance and from new sources, the need for managing and protecting data residing across physical, virtual, and cloud environments grow with it. Managing data includes protecting it, indexing and classifying it for true, long-term management, compliance and E-Discovery. Commvault can ensure this with a single pane of glass solution – whether in a private cloud, a Service Provider delivered public cloud or a hybrid cloud environment – across the heterogeneous enter...
You have great SaaS business app ideas. You want to turn your idea quickly into a functional and engaging proof of concept. You need to be able to modify it to meet customers' needs, and you need to deliver a complete and secure SaaS application. How could you achieve all the above and yet avoid unforeseen IT requirements that add unnecessary cost and complexity? You also want your app to be responsive in any device at any time. In his session at 19th Cloud Expo, Mark Allen, General Manager of...
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
"We are a leader in the market space called network visibility solutions - it enables monitoring tools and Big Data analysis to access the data and be able to see the performance," explained Shay Morag, VP of Sales and Marketing at Niagara Networks, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
@DevOpsSummit taking place June 6-8, 2017 at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @DevOpsSummit at Cloud Expo New York Call for Papers is now open.
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
The 20th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held June 6-8, 2017, at the Javits Center in New York City, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit your speaking proposal ...
"We are a modern development application platform and we have a suite of products that allow you to application release automation, we do version control, and we do application life cycle management," explained Flint Brenton, CEO of CollabNet, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
Regulatory requirements exist to promote the controlled sharing of information, while protecting the privacy and/or security of the information. Regulations for each type of information have their own set of rules, policies, and guidelines. Cloud Service Providers (CSP) are faced with increasing demand for services at decreasing prices. Demonstrating and maintaining compliance with regulations is a nontrivial task and doing so against numerous sets of regulatory requirements can be daunting task...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
"This is specifically designed to accommodate some of the needs for high availability and failover in a network managed system for the major Korean corporations," stated Thomas Masters, Managing Director at InfranicsUSA, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Unsecured IoT devices were used to launch crippling DDOS attacks in October 2016, targeting services such as Twitter, Spotify, and GitHub. Subsequent testimony to Congress about potential attacks on office buildings, schools, and hospitals raised the possibility for the IoT to harm and even kill people. What should be done? Does the government need to intervene? This panel at @ThingExpo New York brings together leading IoT and security experts to discuss this very serious topic.
More and more brands have jumped on the IoT bandwagon. We have an excess of wearables – activity trackers, smartwatches, smart glasses and sneakers, and more that track seemingly endless datapoints. However, most consumers have no idea what “IoT” means. Creating more wearables that track data shouldn't be the aim of brands; delivering meaningful, tangible relevance to their users should be. We're in a period in which the IoT pendulum is still swinging. Initially, it swung toward "smart for smar...
CloudJumper, a Workspace as a Service (WaaS) platform innovator for agile business IT, has been recognized with the Customer Value Leadership Award for its nWorkSpace platform by Frost & Sullivan. The company was also featured in a new report(1) by the industry research firm titled, “Desktop-as-a-Service Buyer’s Guide, 2016,” which provides a comprehensive comparison of DaaS providers, including CloudJumper, Amazon, VMware, and Microsoft.