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Falling Flat: The Consumer Price Index
Following a surprising jobs report, inflation didn't ease as much as anticipated. The Consumer Price Index fell to 2.4% year over year last month. Although this was not the desired number, inflation is still declining towards the Fed's target of 2%. What do these numbers mean for the upcoming election and future of the U.S. economy? Dr. Jeff Haymond, economic expert and dean of the Robert W. Plaster School of Business at Cedarville University, has provided insight on recent U.S. economy updates in a recent interview: The consumer price index was higher than expected in September, but the recent interest rate cut and a hopeful jobs report still provide some good news for the economy. Will inflation continue to ease in the right direction? Experts, such as Haymond, acknowledge that the recent interest rate cut by the Fed was a political move. The cost of living is a crucial issue for U.S. voters as they prepare for the election and hope for eased inflation. How will this and other economic updates affect the decisions of voters as the elections draws near? If you are covering the U.S. economy and need to know more, let us help with your questions and stories. Dr. Jeff Haymond is an expert on this subject and is available to speak to media regarding the U.S. economy and what recent news means for families in the United States – simply click on his icon or email mweinstein@cedarville.edu to arrange an interview.
Repairing Boeing's relationship with the FAA
The Boeing Corporation is the recognized pioneer in aviation and aircraft manufacturing, but significant quality control concerns have mounted in light of near disasters associated with Boeing's planes, including notably the Alaska Airlines door flying off in January. David Primo, professor of political science and business administration at the University of Rochester, is available to tackle some of the regulatory, crisis management and reputational questions related to Boeing's safety and production problems, including regaining the trust of the Federal Aviation Administration: “The challenge Boeing faces is how do they rebuild safety, rebuild the relationship with the FAA, but keep the business going? And that’s a very tough balancing act. The FAA is going to give Boeing much less in the way of the benefit of the doubt when it comes to the design of planes, which could very much constrain its production system. So it’s going to mean that planes might take a little longer to get off the production line and into the hands of airlines."
Multi-sector partnership leads to first practical pilot of vehicle-to-grid power
A multi-pronged effort led by corporations, industry associations and an academic research institution has launched the first practical pilot project of “vehicle-to-grid” power (V2G) set up so that industrial participants can scale it at low cost. Invented by the University of Delaware, V2G uses batteries in parked EVs to support the electric grid or to provide backup during power failures. This pilot is the first targeted toward large scale expansion, because it follows standards (by SAE and UL), uses production EVs (with UD modifications), complies with utility requirements, and qualifies for wholesale power markets. The pilot has been implemented by Delmarva Power (an Exelon Company), working with UD. The project has set up an electric utility fleet of EVs to begin providing power to balance the electric grid, using Ford Mach-E EVs in the Delmarva Power fleet, and following new rules of the Federal Energy Regulatory Commission (FERC) for distributed energy resources. These Delmarva Power fleet vehicles are driving for utility operations during normal work schedule and provide wholesale grid services for PJM Interconnection when parked. The cooperative effort was organized by Prof. Willett Kempton, originator of the V2G concept. Kempton said the resulting demonstration is significant because it shows a cost-effective pathway for standards based, regulatory-compliant, mass-manufactured V2G. “Our close collaboration with Ford Motor, based on our joint Memorandum of Understanding, was very productive. Ford engineers’ advice helped us fully integrate the car’s CAN communications with LIN-CP,” Kempton said. “Ford already markets a production EV with home backup power, and they have a sophisticated understanding of potential EV synergies with the electric power grid. We hope that collaborations like this will also help OEMs like Ford to see a path to incorporation of these new standards and technologies into production EVs.” The new standard for V2G signal definitions were finalized and approved just this year thanks to UD Research Professor Rodney McGee, Task Force Chair of the SAE standards development for J3400 (NACS) and J3068. (SAE was formerly called Society of Automotive Engineers.) “These standards define the signaling to standardize low-cost AC charging, with all the functionality needed for safe operation of V2G and backup power from an EV. Both these standards implement a signaling method that is new to EV charging, called LIN-CP, yet is built from easy-to-implement automotive technologies,” McGee said. UD’s MOU with Ford Motor Company allowed the two parties to cooperate on implementing sophisticated signaling for low-cost, high-functionality V2G. UD designed a retrofit package for proof of concept. The design was led by UD Postdoc Garrett Ejzak and used a bidirectional on-board charger and the new LIN-CP commands to make the Mach-E capable of sophisticated V2G. After testing at UD, the design was installed in four Delmarva Power fleet Mach-Es, to test these systems in a real-world fleet operating environment. In addition to proving these new SAE standards, this project also shows that EVs can be high-value grid services providers to the electric system under the new FERC Order 2222 regulations. This new Federal rule enables small resources to collectively participate in electric markets to make the electric grid more reliable and more capable of incorporating fluctuating renewable power sources. PJM Interconnection, which manages the electric grid over 13 states, is participating under a Pilot Project agreement with the Delmarva Power demonstration, as an early proof of PJM’s new rules to meet FERC Order 2222 compliance. “The use of virtual power plants, such as aggregations of electric vehicles, is an emerging resource type that can contribute to managing the energy transition by providing flexibility and other services needed to reliably operate the power grid,” said Scott Baker, Sr. Business Solution Analyst – Applied Innovation for PJM. “We look forward to working with Delmarva Power and the project team to test the technical capabilities of V2G electric vehicles and understand how this use case integrates with PJM’s new market construct for virtual power plants and DER Aggregators.” Delmarva Power’s parent company, Exelon Corporation, is also a partner providing support for the project. Project partner Nuvve Holding Corporation (Nuvve) updated their charging stations for full LIN-CP and V2G capabilities. Then project partner Delmarva Power installed four Nuvve charging stations at their facility in Newark, Delaware. The four individual Mach-Es are virtually combined into one V2G “power plant” by aggregation software from Nuvve Holdings. Nuvve CEO Gregory Poilasne described this: “Our Nuvve charging stations now talk LIN-CP and implement the new SAE standards. This enables our GIVe aggregator software to tap high functionality V2G EVs,” Poilasne said. “By combining EVs as a single power resource, our technology is already serving as a “Distributed Energy Resource Aggregator” as specified by FERC Order 2222.” The EVs’ performance and provision of grid services will be monitored over the next year by UD and Nuvve to provide documentation on their use both as fleet vehicles and as grid resources.
It's October ... and that means one thing in America: Major League Baseball playoffs are set to begin. It means wall to wall broadcasts of games, massive advertising buys and gate receipts that means a serious stream of revenue for all of the teams, players and owners who made it through a long season and survived to be one of the dozen teams left to play for the Commissioner's Trophy. It's going to be a wild few weeks for baseball fans and the reporters covering the games. And if you're a journalist looking to know how important the marketing and business sides are to the the playoffs - then let us help with your stories. Kirk Wakefield, Ph.D., is The Edwin W. Streetman Professor of Retail Marketing at Baylor University, where he is the Executive Director of the Curb Center for Sales Strategy in Sports and Entertainment (S3E) program in the Hankamer School of Business. Kirk is available to speak with media - simply click on his icon ow to arrange an interview today.
An innovative Baylor University study has shed light on the often-overlooked experiences of women doing “daughtering” in families, particularly during the COVID-19 pandemic, which created immense challenges in their relationships with parents and other family members. “Daughtering” refers to the ways adult daughters contribute to flourishing family relationships, according to Allison M. Alford, Ph.D., clinical associate professor in the Department of Information Systems and Business Analytics in Baylor’s Hankamer School of Business. Alford’s latest research, Daughterwork in Times of Social Upheaval, published in Qualitative Research Reports in Communication, explores how societal changes caused by the pandemic required women to reconfigure their relationships with their parents and emphasizes the critical role adult daughters play in maintaining family connections, particularly in times of crisis. "This study highlights how social upheavals like the COVID-19 pandemic can both challenge and reinforce the essential work that daughters do in their families," Alford said. “Past research has shown that women often bear the brunt of responsibility when crises occur at home, work or in the extended family. Particularly for professional women – those who are balancing changing workplace demands alongside immediate and extended family concerns as well as societal shifts – increased care needs or the perception of such for parents can increase stress and negatively impact well-being, yet women still persist in providing upstream support for a variety of reasons.” Using in-depth, semi-structured interviews of women who identified change to their daughtering, professional and family lives, Alford discovered four themes about how a crisis can provide opportunities for flexible daughtering, meaningful connection and reflection on one’s most important relationships. Daughtering is adaptive action The pandemic forced many daughters to rapidly adjust their caregiving practices with their parents. When normal forms of communication were not an option, many daughters turned to technology to bridge the gap. This included increased use of video calls, social media, and other digital communication tools to maintain contact and promote family connection. Alford’s research found that daughters also took on new, often physically demanding tasks to ensure their parents’ well-being – delivering groceries, managing household repairs and organizing virtual family gatherings. “These actions were not only about adapting to the context of social upheaval but also about intensifying their caring efforts to meet the evolving needs of their parents,” Alford said. Daughtering is adaptive timing The study revealed that daughters had to maintain a heightened state of vigilance, constantly prepared to address unexpected crises, Alford said. Unlike the more predictable daughtering routines of the past, the pandemic introduced a level of uncertainty that required daughters to be in a near-constant state of readiness. One study participant described her experience as being in "constant problem-solving mode," which added significant stress to her daily life. “This ‘adaptive timing’ meant that daughters often found themselves juggling sudden care demands with their own professional and personal obligations,” Alford said. “This theme underscores the mental and emotional toll on daughters who had to manage the unpredictable nature of daughtering during the pandemic.” Daughtering is a priority Despite the challenges, Alford said, many daughters reported that they continued to prioritize their daughtering responsibilities, driven by a deep sense of familial duty and personal values. “For these women, daughtering was not just another task but a core part of their identity, often taking precedence over their professional responsibilities,” Alford said. “This commitment was evident in the time and resources they dedicated to maintaining their relationships with their parents, even when it meant sacrificing their own well-being or career advancement.” One participant noted, “I value family, so I still made it a priority,” reflecting a sentiment shared by many women in the study. This theme, Alford noted, highlights the internal conflict that many daughters faced, balancing their dedication to family with the competing demands of their own lives. Daughtering involves reflecting Challenges prompt many daughters to reflect deeply on their roles and relationships, and the COVID-19 pandemic was no different, Alford said. “This period of social upheaval generated a moment of introspection, leading daughters to reassess their priorities, boundaries and the nature of their relationships with their parents,” she said. “For some, this reflection led to a greater appreciation for the importance of family, while for others, it was a time to set new boundaries and redefine their roles within the family structure.” One participant observed, “COVID was a catalyst for emotional support,” while another reflected on the need to “carve out time mentally” to fulfill her roles as both a daughter and a professional. This theme illustrates how the pandemic not only challenged daughters but also provided an opportunity for personal growth and redefinition of their familial roles, Alford said. Key strategies to recognizing daughters’ “invisible” labor The research underscores the critical need for greater recognition and support for the invisible labor performed by adult daughters, suggesting that both families and society at large have a role to play in alleviating the burden on these women. “It’s crucial that we not only acknowledge the burden placed on these women, “Alford said, “but also seek ways to support them, whether through family empathy, shared responsibilities or societal recognition.” Alford emphasizes the importance of three key strategies: Awareness and acknowledgment Families should recognize the labor involved in daughtering and ensure it is acknowledged and appreciated. This can help prevent the exploitation of this labor and ensure that daughters feel valued for their contributions. Outsourcing and support Where possible, families should consider outsourcing some care tasks or providing additional support to relieve the burden on daughters. This might include hiring help for household chores or seeking external emotional support through counseling. Expressing gratitude Expressing gratitude and acknowledging the efforts of daughters can significantly enhance their sense of well-being and fulfillment. This recognition is vital in helping them feel that their contributions are meaningful and valued. National Daughter’s Day National Daughter’s Day is Sept. 25, and while this holiday has been around since 1932 to honor the daughters in our lives, it can often quietly pass us by. Alford recommends parents using this day to officially acknowledge all the ways in which daughters support their families.
How Will Rate Cuts Affect the Election?
On September 18, the Federal Reserve established the first interest rate cut since the Covid pandemic in 2020. The Fed lowered the federal funds rate by half a percentage point – a much larger change than the typical quarter percentage point cut. Dr. Jeff Haymond, dean of the Robert W. Plaster School of Business at Cedarville University, shared insight about the motivations behind this rate cut in a recent interview. Here are some key points: The United States' national debt has been described as a "ticking time bomb." What impact will this and future interest rate cuts have on the national debt? In light of this recent move, current presidential candidate Donald Trump has articulated his economic plan to put a cap on credit card interest rates. Would this bring down the cost of living in the United States, or will it lead to less options for the consumer? This slashing of the interest rate comes only a short time before the presidential election, with many claiming that this cut was, in fact, a political move. Will it affect the decisions of voters as the election draws near? If you are covering the recent interest rate cut or potential for future cuts and need to know more, let us help with your questions and stories. Dr. Jeff Haymond is an expert on this subject and is available to speak to media regarding the action of the Federal Reserve and what this means for families in the United States – simply click on his icon or email mweinstein@cedarville.edu to arrange an interview.
EU-UK Trade Deal continues to stifle trade with 27% drop in exports since 2021
New report shows persistent stifling effects of the impact of the Trade and Cooperation Agreement on UK-EU trade relations Monthly data show a 27% drop in UK exports and a 32% reduction in imports to and from the EU between 2021 and 2023 Recommendations for policy interventions include to negotiate sector-specific deals, engage with individual EU countries, and work on reducing non-tariff barriers A comprehensive analysis by researchers at the Centre for Business Prosperity at Aston University reveals that negative impacts of the UK-EU Trade and Cooperation Agreement (TCA) have intensified over time. The new report, Unbound: UK Trade Post Brexit, also shows a 33% reduction in the variety of goods exported, with the agricultural, textiles, clothing and materials sectors most affected. To assess the impact of the UK-EU TCA, the authors analysed monthly import and export between the UK and the EU, from January 2017 to December 2023 and separated into pre- and post-January 2021 when the agreement came into force. The monthly data shows a 27% drop in UK exports and a 32% decline in imports from the EU. Lead author, Professor Jun Du of Aston University says: “The Trade and Cooperation Agreement introduced substantial barriers and there are ongoing and marked declines in the value and variety of UK exports and imports. Without urgent policy interventions, the UK’s economic position and place in the global market will continue to weaken.” The UK-EU TCA redefined trade and investment rules and market access between the UK and the EU. Since it came into force, the UK government has negotiated several trade agreements, but the EU remains the UK’s largest trade partner. Exports for most sectors have decreased since January 2021, although the impact is varied. Agrifood, textile and clothing and material-based manufacturing have been among the hardest hit, with substantial declines in both export value and the variety of products exported. At the same time, some sectors such as tobacco, railway and aircraft manufacturing have seen modest increases in varieties of products exported. On the import side, most sectors have shrunk in both value and variety, particularly agrifood products, optical, textile and material-based manufacturing. A few sectors, for example, ships and furniture, have demonstrated noticeable increases in import product variety. The large variations across different goods categories and EU trade partners underscore the uneven effects of Brexit and the TCA on UK-EU trade dynamics, highlighting the need to understand the nuances and come up with tailored strategies that address the unique challenges of each sector within the new regulatory environment. The researchers make recommendations, outlining how sector-specific negotiations, streamlining customs procedures with digital technologies and reducing regulatory divergence could mitigate some of the impacts. Dr Oleksandr Shepotylo, the report’s co-author says: “Our findings indicate a decoupling of the UK from key EU final goods markets, accompanied by a shift in UK supply chains toward geographically closer EU trading partners for exports and smaller countries for imports. “This shift raises concerns and underscores the urgent need for a strategic reconfiguration of UK supply chains to maintain competitiveness.” Professor Du continues: “The TCA has introduced considerable barriers to UK-EU trade, particularly through increased Non-tariff measures (NTMs). “Addressing these issues through targeted improvements to the TCA is crucial to ensuring that UK businesses remain competitive in the European market. A structured, multi-faceted approach is necessary.” To find out more about these findings, click here.
Covering the Fed's Interest Rate Decision? Our Expert can Help
The Federal Open Market Committee has three meetings left in 2024 and markets expect interest rates to be cut. This could have a serious impact on the economy as inflation trends downward and restrictive monetary policies are now ready to be loosened. There will be a lot of media attention and speculation around the September 18 decision and its anticipated effects on the global economy. It's why experts like Florida Atlantic's William Luther are ready to help with any questions or coverage. William J. Luther, Ph.D., is an associate professor of economics at Florida Atlantic University, director of the American Institute for Economic Research’s Sound Money Project, and an adjunct scholar with the Cato Institute’s Center for Monetary and Financial Alternatives. The Social Science Research Network currently ranks him in the top five percent of business authors. *** Recent Media: Fox News: GOBankingRates: Newsweek: William Luther, Ph.D., an assistant professor in FAU’s Economics Department, has expertise in economic growth, monetary policies, business cycles and cryptocurrencies. Luther’s research has obtained media interest across the nation, including recent coverage by The Wall Street Journal, Politico and Florida Trend. If you're looking to know more - let us help. Simply click on William's icon now to set up an interview today.
Five ways going green can improve your bottom line: A guide for West Midlands SMEs
As sustainability becomes a central focus for businesses across the globe, small and medium-sized enterprises (SMEs) in the West Midlands are uniquely positioned to benefit from going green. Whether you're running a corner shop, a hairdressing salon, a manufacturing operation, or any other type of small business, sustainable practices can significantly enhance your bottom line. Here are five key ways that adopting green strategies can lead to financial gains. Reduced operational costs One of the most immediate and tangible benefits of going green is the reduction in operational costs. Energy efficiency, waste reduction, and resource conservation are all areas where small changes can lead to significant savings. For instance, simply switching to energy-efficient lighting can reduce electricity bills by up to 75 per cent—a substantial saving for any business, particularly for small retailers or service providers where margins can be tight. Additionally, the UK government offers incentives to help businesses transition to more energy-efficient operations, making it easier for SMEs to invest in these changes. Join Aston University’s workshop on 18 September and take advantage of a free energy assessment for your business. Learn practical steps to audit your energy use and uncover cost-saving opportunities tailored to your specific industry needs. Access to new markets and opportunities As the UK government and local authorities push for a greener economy, there are growing opportunities for businesses that align with these goals. SMEs that adopt sustainable practices may qualify for grants, tax reliefs, and other incentives designed to support green initiatives. For example, local councils in the West Midlands have programmes such as ‘BEAS and Decarbonisation Net Zero’ aimed at helping small businesses reduce their carbon footprint, which can be especially beneficial for almost all sectors where environmental impact is a growing concern. At the workshop, we’ll delve into the funding options and partnerships available to West Midlands SMEs committed to sustainability, helping you unlock new growth opportunities. Increased marketability Consumers are increasingly favouring businesses that demonstrate a commitment to sustainability. According to a study by Nielsen, 66 per cent of global consumers are willing to pay more for sustainable goods, and this trend is evident in the UK as well. By adopting green practices, SMEs in the West Midlands can enhance their brand reputation. This can translate to increased sales, customer loyalty, and even the ability to charge premium prices for sustainable products or services. In a competitive market, your environmental credentials can be a powerful differentiator. Attend Aston University’s workshop to learn from real-life success stories and see how businesses are already turning sustainability into a competitive advantage. Long-term resilience and competitiveness Sustainability isn’t just about immediate financial gains; it’s also about future-proofing your business. As regulations around carbon emissions and environmental impact become stricter, businesses that have already integrated green practices will find it easier to comply, avoiding potential fines and disruptions. For SMEs in sectors like manufacturing, where regulatory pressures are particularly high, adopting sustainable practices now can help ensure long-term competitiveness and resilience. A prime example of this shift is the NHS, which is actively working towards a Net Zero supply chain by 2045. The NHS is urging its suppliers to adopt sustainable practices, with a strong focus on reducing carbon emissions. Businesses that fail to align with these expectations risk losing contracts and falling behind competitors who are meeting these sustainability criteria. At the workshop, you'll learn more about sustainability strategy that can keep your business competitive and resilient in an ever-changing market. Enhanced employee engagement and productivity Increasingly, employees are seeking to work for companies that align with their personal values, including a commitment to sustainability. While this trend is more pronounced among larger companies, it’s also becoming relevant for small businesses, particularly those in industries where attracting and retaining talent is competitive. According to research, 74 per cent of employees feel more fulfilled when they work for a company that is making a positive impact on the environment. For small businesses, fostering a sustainable workplace can enhance employee morale, attract top talent, and reduce turnover rates. However, the degree to which this resonates can depend on your specific workforce. In sectors like tech, professional services, or among younger employees, sustainability is often a key consideration. On the other hand, in some more traditional industries, other factors like job security and compensation might be more important, though sustainability still adds value. Sign up for our workshop to discover how your small or medium business—regardless of sector—can implement effective sustainability practices and energy efficiency strategies to drive growth. This event is open to all SMEs across the West Midlands! Click here to register now. You'll also have the opportunity to book a free energy assessment on the spot and apply for match funding of up to £100,000 to make your business more energy efficient.
Aston University expert explores sustainability in SME supply chains in new book
Professor Prasanta Kumar Dey is a co-author of Supply Chain Sustainability in Small and Medium Sized Enterprises The book provides a comprehensive roadmap for SMEs to achieve sustainable supply chains Using real world case studies, it offers practical guidance and expert insights for researchers and industry practitioners. An expert in sustainable supply chain operations and the circular economy at Aston University has co-authored a new book focused on the sustainability of small and medium sized enterprises (SMEs). Dr Prasanta Kumar Dey, professor of operations management at Aston Business School, has written Supply Chain Sustainability in Small and Medium Sized Enterprises alongside Dr Soumyadeb Chowdhury of Toulouse Business School and Dr Chrisovalantis Malesios from the Agricultural University of Athens. This comprehensive book examines the sustainability of supply chains in SMEs across developed and emerging economies. It draws on contributions from experts and examines case studies from countries including Thailand, Bangladesh, France, Spain, Austria and Greece. The book offers practical guidance for researchers and industry practitioners. It explores the trade-offs between economic, environmental and social aspects of sustainability, the current state of sustainable supply chain practices and critical success factors across various industries. The book highlights the experience of SMEs on the decarbonisation journey, from the concept to the implementation of the energy efficiency measures. This experience helps not only to standardise the customers’ journey towards decarbonisation but it also facilitates the undertaking of cost-benefit analysis for decarbonisation measures. Professor Prasanta Dey said: “Small and medium-sized enterprises are the backbone of economies worldwide. “Through this book, we aim to provide a comprehensive roadmap for SMEs to achieve sustainable supply chains, balancing economic growth with environmental stewardship and social responsibility. “The selection of the most effective enablers across facilities, operational processes and logistics for decarbonisation is made easier through the case studies of the book. “By learning from real-world case studies and expert insights, businesses can navigate the complexities of sustainability and drive impactful change. These help to develop a comprehensive reporting template for communicating energy audit outcomes to specific company for their further actions. The book also helps SMEs to develop implementation plan for decarbonisation measures. “Adopting a carbon footprint tool and business modelling technique from the book helps a decarbonization project identify energy-efficient strategies that reduce emissions and enhance economic, environmental and social performance.” You can purchase a copy of the book here.