Week IX - The PPI, Chicago Business Barometer, Scorned Attorneys, Headlines, Seahawks, and Cher Ofstedahl
It’s March
It’s coming in like a lion, and we can only hope it goes out like a lamb. But let’s look at last week.
The Producer Price Index - the PPI – was reported on Friday. This is the business cost of inflation, similar to the Consumer Price Index, but for, well, producers.
It came in at 2.9%, down from last month’s 3.0%.
The core PPI, the measurement that doesn’t include fuel and food, came in at 3.4%, down from 3.5%.
What made all the noise was that the monthly increase in producer prices came in at 0.5%, up from 0.4% and way higher than the expected 0.3%.
That’s bad ‘bad news’. All eyes will be on next week’s CPI and PCE.
The Chicago Business Barometer came in at 57.7, up from 54.0 the previous month and materially higher than the 52.5 that was forecasted.
So, what is the Chicago Business Barometer?
The report consists of seven Business Activity indicators and three Buying Policy indicators that represent activity and performance levels compared to the prior month for businesses in the Chicago area.
The rise was driven by increases in Production, Employment, New Orders, and Supplier Deliveries. Certainly good ‘good news’.
A decline in Order Backlogs provided some offset.
When asked the question: “Will AI and technology changes shift which skills are most important in 2026?”, 6% were unsure, 19% said that it would and that some skills will be more or much more in demand, 36% said no, skill importance will stay about the same, and 39% said yes, but changes will be moderate.
Hmm. Only 19% think there will be significant changes to job skills because of technology/AI in 2026.
Billions are being spent, and Chicago businesses are thinking meh.
Hell Hath No Fury as a Lawyer Scorned
There’s nothing like threatening an attorney’s income to see how irritated they will become.
Uber is sponsoring a California ballot initiative that would cap personal injury attorneys’ contingency fees at 25% of damage awards and limit medical damages for all vehicle crashes in California.
Not to be outdone, the attorneys responded by proposing not one, not two, but three ballot initiatives:
That would expand Uber’s liability for passenger injuries.
Increase its liability for sexual misconduct against riders or drivers.
Ban new state laws that interfere with people’s ability to retain lawyers.
Talk about poking a bear!
According to Cal Matters, Uber has already put $32,500,000 into getting its measure on the ballot.
Lawyer and medical groups have spent $55,000,000 to fight the measure and get their own measures on the ballot.
Social media advertisers are cashing in!!
Headlines
How Jet Engines are Powering Data Centers – since the existing power lines are proving inadequate, and building a nuclear reactor takes a second or two, the data center folks are using jet engines from 737s to power their computers.
The problem? They can’t make ‘em fast enough.
The solution? Convert existing ones.
There’s always a way, folks.
Blue Owl Fallout Sparks Anxiety As Investors’ Advisors Urge Calm – I just love the names these guys come up with.
Blue Owl Capital is a fund that thinks it can lend investors’ money to middle-market companies and large corporations. Just like a bank.
They can, but the trick is doing it prudently so that you get paid back.
Also, regular folks invest in these funds, but when they want their cash out, it may not be liquid, and that’s what is happening.
It’s not like your deposits at a bank, where you can just transfer them out on your phone. Your broker has to do that for you, assuming they are available.
Hey, if banks can do it, how hard can it be?
Idiots. It’s easy to lend it out. It’s quite another thing to see warning signs that impair your ability to get paid back.
Mortgage Rates Fall Below 6% - That’s self-explanatory, but it is the lowest level in over three years.
For Sale: National sports franchise, Super Bowl ready, turnkey operation available with established coach and franchise quarterback.
Yep, the Seattle Seahawks are for sale.
Talk about timing. If you were buried watching the second day of the Winter Olympics, the Seahawks won the Super Bowl on February 8.
At any rate, the National Football League has rules. One of the rules is that a person must own the controlling interest in a team, not an estate, LLC, or company. A person.
Since the team’s owner, Paul Allen, died in 2018, the team has been in a trust.
That’s not a person, so it must be sold.
Yes, I know the Packers have 500,000 owners; they are the only exception.
The last NFL team sold was the Washington Commanders for $6,000,000,000 in 2023.
I’m thinking if enough of us pool our 401k and IRA balances… anyone game?
It’s the last month of the first quarter, folks. Don’t spend all your time around the water cooler talking about world events; you have 30 days to make your Q1 target!
Today’s quote is from the gathering of friends for Cher Ofstedahl, the CEO of Trinity Youth Services, at Cher’s home in Claremont, California. Cher was one of the top CEOs I have ever known, and I have known many. Her ability to get to the point, successfully work within the state and county bureaucracy, inspire employees, and make friends along the way was awe-inspiring.
Be like a crow: collect shiny things, hop happily down the street for no apparent reason, and scream loudly when you see your friends.
Cher Ofstedahl, 1962-2026. She lived with grace.
