This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Chicago Business Owners See Limited Effect From Obamacare, Minimum Wage Hike

The Business Owners Confidence survey for the first half of 2014 indicates that Chicago-area mid-sized business owners are taking Obamacare in stride and expect limited effects of national and state efforts to raise the minimum wage.

The survey, jointly conducted by MB Financial Bank and Cole Taylor Bank, reported that more than 50% of the local business leaders have taken no action as a result of the implementation of the Affordable Healthcare Act. Financial services and professional firms were the least likely to take action while construction and manufacturing companies more likely to make changes due to the Act’s implementation. Of those which have taken action, 31% are making employees pay a greater share, with that number rising to nearly 50% for companies in the construction business. The survey indicated that 27% are reducing coverage or changing carriers. Companies with sales of $5 million or less were more likely to take no action (61%) than were the larger companies surveyed.

Similarly, 67% of the respondents foresee no significant impact if the minimum wage were to increase from the current $8.25 to a proposed $10.00. As would be expected, financial services, professional and other services firms expect the smallest impact while construction and manufacturing expect more of an effect. The survey also indicated that some businesses plan to pass those increased costs to consumers (20%) or reduce staff or hours (15%).

The middle-market decision makers responding to the survey expressed growing optimism over the current state of the US economy for the fourth consecutive time, with 34% of respondents giving the national economy a good rating. Local economic conditions were rated good by 24% of the respondents while only 4% rated Illinois’ economic policies as good.

Businesses planning to expand in the next twelve months totaled 49% of the respondents. Of those planning to expand, nearly 60% expressed interest in expanding outside Illinois.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,203.37 -85.26 -0.47%
S&P 500 2,107.78 -9.61 -0.45%
NASDAQ 4,979.9010 -28.1950 -0.56%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs