American Dollar to Canadian Dollar = 0.778153; American Dollar to Chinese Yuan = 0.151037; American Dollar to Euro = 1.173959; American Dollar to Japanese Yen = 0.008810; American Dollar to Mexican Peso = 0.052808.

The man accused of setting fire to a California warehouse likened himself to Luigi Mangione after allegedly lighting multiple fires in the name of anti-capitalism. The warehouse, about 40 miles east of Los Angeles and owned by the consumer goods company Kimberly-Clark Corp, was set ablaze last Tuesday. Twenty employees were inside the facility when the fire was set, but no one was harmed. Abdulkarim is an employee of NFI Industries — a third-party distributor for Kimberly-Clark Corp. He is accused of intentionally starting multiple fires at the 1.2 million-square-foot warehouse. In California, aggravated arson is applicable to a crime when the damage from the fire exceeds $10.1 million, and carries a penalty of ten years to life. Based on initial estimates, the paper products were worth $500 million and the building was worth $150 million.

For well over a year, virtually all of our economic indicators flashed “recession.” However, it didn’t happen, at least not yet. Now it’s looking more like a “jobless recovery” from an “almost recession.” The stock market is hitting record highs, gold set a new record high, corporate earnings are very good, consumer spending is solid, and inflation is subdued. In this context, the Small Business Optimism Index has managed to break out of its funk, running below 99 from October 2021 to October 2024, then rising to over 105 in December 2024. The current reading of 100.8, while lower than late last year, is above the 51-year average of 98. As good as all that sounds, that’s not the whole story. Hiring remains weak, and labor quality is the top business problem. Unfilled job openings are disappearing, but not because they are filled. Actual and planned capital spending remain weak, hopefully the new depreciation rules and permanent 20% small business deduction will stimulate some investment spending. Owners are optimistic about improving business conditions by year end, hopefully stronger sales and more favorable tax rules. For now, the economy is on a good footing, but small business owners are hoping that their “uncertainties” will be favorably resolved.