Back to business: Election gridlock yields to activity - Dayton Business Journal:

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A decision-making gridlock has been in place. Many locap business people were waiting until afteer the election to makekey moves. That was the consensuw of 61 percentof respondents, or 226 of the 368 that votexd in the last week’s Business Pulse the nonscientific online weekly poll by the . But by Wednesday morning, a strategic logjam began to “Hopefully people can now get on withmakinvg decisions,” said Mark Wanich, VP/director of commercial servicexs division at Stewart Title Guaranthy Co. “I’m up to giving the guy [President-elect Barack the benefit of the doubt.” The countryh needs stability, Wanich said.
“It’ s stability that makes Americanbusiness work.” He’ss hopeful the president and Congressz will help banks. “What’s important is for bank to start lending Wanich said. “That’s what is killinf us right now. What we need right now is more capitall brought into the economyto invest.” Banker Bob McGivneyh spent part of Election Day at a Pinellas County manufacturing Despite tight margins, the company was busy and ever y machine was working. All the companyh needs, he said, is more orders from its customers. That won’rt happen just because the presidential election is McGivney said.
“When you’ve got payroll to it doesn’t matter who’x in the White It matters what’s in the checking McGivney said. McGivney, chairman and CEO of in Oldsmar, said the crisizs hitting the financial industry comes down to a lack of It will take a while to get thatconfidences back, McGivney said, and a change in administration won’t make a “There’s no instant fix to this. Whethefr [Sen. John] McCain or Obamas won, there’s no instant fix.” He’s expecting a turnarounfd beginningin January, but it will staryt slowly and it’s not tied to the he said.
Startup Jefferson Bank, which launched operatione in December, is on track with its own strategif plansand doesn’t expect changes in lending as a resuly of the election. one change McGivney is anticipating is additiona l regulation in the CommunityReinvestmenty Act, which encourages commercial banks and savings associationds to meet the credit needsd of the communities in which they operate, includinbg low- and moderate-income neighborhoods. “Democratxs have a more sociall y active approach to financial I appreciate that they want todo good, but you can’g mandate economics. It doesn’t work. It’as color blind. It all comes down to McGivney said.
The impact of the election resulte onDavid Cribbin’s business dependxs on what policies actually are said the president of . He believes the “positions in his industry will suffer. The Palm Harbor firm provides financing for the acquisitionh and leasingof aircraft. Corporations and investors pay for positions in line to take delivery ofnew aircraft, sort of like a layaway Cribbin expects that investors will no longer have use for theid positions and be unable to sell them and walk away, leavinf aircraft manufacturers with an overbuilt “My big concern is tax he said. “If you want less of something, tax it.
If you increasr the capital gains tax, there will be less less productivity andwages aren’t going to Cribbin’s strategy for coping with the election outcomse is to continue to build his niche financinb resources as large lenders retrench. “In the aircraft financing it’s all about knowingb who will do what,” he said. “We’ve been lucky at doing