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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

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

Stocks in this article: MBFI TAYC

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

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

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