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
Most companies are adopting or evaluating container technology - Docker in particular - to speed up application deployment, drive down cost, ease management and make application delivery more flexible overall. As with most new architectures, this dream takes a lot of work to become a reality. Even when you do get your application componentized enough and packaged properly, there are still challenges for DevOps teams to making the shift to continuous delivery and achieving that reduction in cost ...
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
Translating agile methodology into real-world best practices within the modern software factory has driven widespread DevOps adoption, yet much work remains to expand workflows and tooling across the enterprise. As models evolve from pockets of experimentation into wholescale organizational reinvention, practitioners find themselves challenged to incorporate the culture and architecture necessary to support DevOps at scale. In his session at @DevOpsSummit at 20th Cloud Expo, Anand Akela, Senior...
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
SYS-CON Events announced today that Twistlock, the leading provider of cloud container security solutions, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Twistlock is the industry's first enterprise security suite for container security. Twistlock's technology addresses risks on the host and within the application of the container, enabling enterprises to consistently enforce security policies, monitor...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...
Automation is enabling enterprises to design, deploy, and manage more complex, hybrid cloud environments. Yet the people who manage these environments must be trained in and understanding these environments better than ever before. A new era of analytics and cognitive computing is adding intelligence, but also more complexity, to these cloud environments. How smart is your cloud? How smart should it be? In this power panel at 20th Cloud Expo, moderated by Conference Chair Roger Strukhoff, pane...
The goal of Continuous Testing is to shift testing left to find defects earlier and release software faster. This can be achieved by integrating a set of open source functional and performance testing tools in the early stages of your software delivery lifecycle. There is one process that binds all application delivery stages together into one well-orchestrated machine: Continuous Testing. Continuous Testing is the conveyor belt between the Software Factory and production stages. Artifacts are ...
Blockchain is a shared, secure record of exchange that establishes trust, accountability and transparency across supply chain networks. Supported by the Linux Foundation's open source, open-standards based Hyperledger Project, Blockchain has the potential to improve regulatory compliance, reduce cost and time for product recall as well as advance trade. Are you curious about Blockchain and how it can provide you with new opportunities for innovation and growth? In her session at 20th Cloud Exp...
@ThingsExpo has been named the Most Influential ‘Smart Cities - IIoT' Account and @BigDataExpo has been named fourteenth by Right Relevance (RR), which provides curated information and intelligence on approximately 50,000 topics. In addition, Right Relevance provides an Insights offering that combines the above Topics and Influencers information with real time conversations to provide actionable intelligence with visualizations to enable decision making. The Insights service is applicable to eve...
SYS-CON Events announced today that Grape Up will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct. 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company specializing in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the U.S. and Europe, Grape Up works with a variety of customers from emergi...
SYS-CON Events announced today that Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Developers want to create better apps faster. Static clouds are giving way to scalable systems, with dynamic resource allocation and application monitoring. You won't hear that chant from users on any picket line, but helping developers to create better apps faster is the mission of Lee Atchison, principal cloud architect and advocate at New Relic Inc., based in San Francisco. His singular job is to understand and drive the industry in the areas of cloud architecture, microservices, scalability ...
SYS-CON Events announced today that CA Technologies has been named "Platinum Sponsor" of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, New York, and 21st International Cloud Expo, which will take place in November in Silicon Valley, California.