The Star Ledger put together a nice piece highlighting the impact that all of this winter weather has had on the economy. Losses tracked by major insurers show that “average annual winter storm losses have doubled since the early 1980s… Manufacturing output took a tumble in January… and car sales at Ford, GM and Toyota slipped.”
On a positive note, a survey from the NY Fed shows that a majority of companies in the tri-state region are expecting higher revenues and profits in 2014 and 31% plan to add staff.
NJBiz had an interesting article about how doctors will continue consolidating into ever larger practice groups. The piece focuses on the burden of additional insurance paperwork, etc, but this consolidation will have serious implications for medical facilities as doctors demand larger space for their offices.
The Bergen Record covered a story about a local high school that was trying virtual classrooms to avoid another snow day, and on a lighter note, Nabasco’s parent company has announced that they will continue to invest in the Fair Lawn bakery that produces Chips Ahoy. Route 208 will continue to smell like chocolate chip cookies!
Star Ledger: Economists track harsh winter’s effects