Investors awoke from their multi-year slumber in late January to a nasty reminder that stock prices are volatile. After a period of calm in the stock markets that rivals the longest in recorded history, a jump in average hourly earnings and the recent backup in bond yields refocused investor concern on the prospect of higher inflation down the road. That sent equity investors rushing for the exits, driving the S&P 500 down 10.2% in the span of just 8 trading days. Global markets followed suit, with the riskiest parts of the financial markets taking the biggest hit.
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The Trump administration’s recent effort to impose tariffs on steel and aluminum imports into the United States has provoked a significant backlash among free-market economists, business leaders, and Republicans in Congress, among others. They worry that the imposition of protectionist measures designed to insulate domestic manufacturers from lower-cost foreign competitors could result in retaliation from foreign governments on other products that could expand into a full-blown trade war.
If you are a newer family foundation with one or two generations on the board, five generations may seem like a long time away. Yet in family philanthropy, quite a few foundations have been operating and thriving for 50, 75, even 100 years. What’s the secret of these family philanthropies that make it five generations, and across family branches? How do they successfully attract and engage younger family members? Learn from what other thriving family foundations have done—and continue to do—to sustain a successful long-term family philanthropy.
Inter-generational role transitions are often bumpy when it comes to the family business. Power and authority are not always easy to lay down when the baton is passed to the next generation, despite best laid plans.
The frequency and scope of cyberattacks are growing rapidly, with breaches becoming a significant threat to a business’s reputation and sustainability. No industry or business size is immune to a cyberattack, and small and midsize businesses typically face more acute risks. With cyberthreats evolving and becoming more prevalent, what can your organization do to reduce the potential of suffering a cyberattack and hopefully minimize the cost of the incident?
Over the past four decades, the economic and trade relationship between the United States and China has been dramatically transformed, growing from about $2 billion in 1979 to approximately $612.5 billion in 2017. This places it among the most important bilateral economic relationship in the international economy. Now, however, that relationship is fraught with tensions due to differentials in growth, trade frictions and enforcement of trade rules along the technological frontier.
Despite an improved outlook, it is possible that the U.S. political authority will trigger a six-month review period for exiting the North American Free Trade Agreement (NAFTA) sometime during the next 90 days. At stake is more than $1 trillion in cross-border trade and more than 14 million jobs across three economies. While Mexico has the largest exposure to such an event—in the case of a hasty exit, its economy could contract 2.9 percent in 2019—both the United States and Canada have significant direct and indirect exposure to such a radical shift.
Misperceptions about flood risk have kept many people from buying protection from the National Flood Insurance Program (NFIP) or the private insurance market.
The motivating factors behind the raised values in the real estate market are threefold: to diversify real estate holdings, move to a new product type, or exit the market altogether. Whether this indicates a peak in the market or frothiness in certain product types or geographic areas, tax-deferred exchanges provide commercial property owners with alternatives that allow for continued investment in real estate while delaying the tax consequences of outright sales.
Hiring a domestic worker touches on multiple areas of law. Thinking through all the potential problems that might arise, and taking any precautionary actions possible, will only help you and your family. Entering into these relationships thoughtfully, and managing them with care may support the best outcome.