Recent content from Lee Schafer
Schafer: It's OK for banks to make money, if it means their customers are doing well
Credit loss accounting is an important measure of bank health and was a telltale sign of how the pandemic affected the economy.
Schafer: CEO pay is broken, but what about low-wage pay?
The debate over the outsized pay to executives is going nowhere. But the action at the low end of the wage spectrum is interesting.
Schafer: The biggest transfer of wealth in history is underway, for some
Some well-off boomers are going to be turning over a big slug of wealth to some very lucky millennials.
Schafer: Rent control is always popular, but it never works
In St. Paul, there are a lot of people who can't afford the rent. Putting rules on landlords won't solve that.
Schafer: How a hugely valuable startup succeeded without inventing anything
Bright Health went public last week in Minnesota's biggest-ever IPO.
Schafer: Good luck with management by Zooming around
Bosses can learn a lot by wandering around the office.
Schafer: Back to normal means the normal challenges are back, too
The news that General Mills is cutting jobs after its stellar response to the pandemic, and the results that followed, shows that going back to where things were was never going to be easy.
Schafer: Making a lot of money and being rich are not the same thing
An attention-grabbing article on the income taxes paid, or not paid, by some of America's wealthiest people framed its analysis poorly.
Schafer: Let's keep hybrid work from being the worst of both worlds
The best workplaces will have people connecting all the time with each other across the organization chart.
Schafer: Retirement trends show that work just might not be worth it
The cost of work has gone up and pay is still catching up.
Schafer: Developers should look beyond destruction and see waiting customers
The opportunity on Lake Street and in the other damaged areas still exists.
Schafer: For Minnesota's biggest companies, share buybacks signal recovery from downturn
Others may get worked up about the effects of share buybacks, but they don't give me heartburn the way that, for instance, executive compensation does.
Schafer: Workplace can't be just about work, so employees need an outlet
Keeping the conversation from spiraling into forever wars isn't just up to the managers, though.
Schafer: Commerce at home is the newest 'New Era in Retailing'
Loup Ventures of Minneapolis thinks one of its portfolio companies called Enjoy, about to go public, represents the next thing in retail.
Schafer: Why cars, chips, lumber and other goods are suddenly more expensive
Small changes in end-user buying lead to bigger swings in the operations of suppliers down the value chain.
Schafer: Supply chain shows its resilience in pandemic
The case for long supply chains remains intact, so long as they are flexible and adaptable.
Schafer: Banks resist racial-equity audits, but they shouldn't
Wells Fargo and other big banks have recommended shareholders vote down racial-equity audit proposals.
Schafer: How bosses can prevent employee churn at pandemic's end
Workers have reported high levels of burnout.
Schafer: There's good reason to believe Glen Taylor's Timberwolves pledge
Taylor's efforts to keep the NBA team in Minneapolis should be successful.
Schafer: A Dayton brother tackles a new horizon, efficiency in philanthropy
Constellation Fund is built on the notion that relying on objective evidence is the way to direct money into the most promising programs.
Schafer: Mpls. Fed economist explains how modern monopolies hurt workers
The kind of monopolists described in this research don't just charge a lot for their product. They keep far lower-cost substitutes from ever reaching consumers.
Schafer: Another week, another scandal unmasks an investor with a gambler's mind
Archegos Capital Management seems pretty typical of what you might call modern Wall Street.
Schafer: As vaccine rollout makes progress, you can feel the mood change
We are stuck in the In Between Time — approaching normal for some, not close to normal for others and plenty of stress in managing both.
Schafer: An actual investment produces something, and the rest is gambling
The sports-card collector and dealer Rob Hunegs said his market is as hot as it has been in 30 years."The market is also fluctuating, much…
Schafer: How Gravie nudged into insurance, keeps finding capital
Minneapolis health insurance firm Gravie got its start in 2013 and it's still progressing nicely, as it's just about to announce that it's closed on…
Schafer: There's value in offices, even if Target says it's declining
It might be easy to forget, after hearing Target Corp. say last week that it will empty a huge downtown office tower, that Minneapolis before…
Schafer: As inflation looms, the bond run ends and investors scramble
Investment analyst Michael Batnick, blogging at the Irrelevant Investor this week, posted what he called the most important chart of the decade. It had nothing…
Schafer: How a St. Thomas professor helps execs learn 'historical recovery'
If business executives are still puzzling over how to make a difference on racial injustice, they can start by going back to class. That's what…
Schafer: Wind turbines aren't a problem, but there are some on the road to carbon-free power
Three electric space heaters were running at our house the whole weekend of Valentine's Day, when it dropped to 19 below zero here in the…
Schafer: Sure, retirement savings for many held up in 2020. We should still do better.
Sometimes even the good news stories in this era of COVID-19 don't turn out to be all that good, and so it is with the…
Schafer: How Delta fared better than other airlines while leaving middle seats open
A lot of people must only care about price when buying airline tickets.Nothing else explains why there's not only travel websites such as Expedia but…
Schafer: Why the search for satisfaction at work is crucial and sometimes elusive
Aaron Kardell, founder and chief executive of the Minneapolis software firm HomeSpotter LLC, thinks he might have written his first computer program when he was…
Schafer: Walz's strategy for EVs could leave dealers stranded with models
The governor's desire to change Minnesota's auto market relies too much on rules rather than incentives.
Schafer: The difference between relief and stimulus is all the difference
The historical marker is weathered to the point it is mostly gone. And there's not much else to see but a stone chimney.But any regulars…
Schafer: Objectives are new, but the action on Robinhood last week wasn't
Last Thursday, the stock trading firm Robinhood Markets inadvertently said it would block its users from purchasing the shares of Best Buy Co., traded under…
Schafer: Why 'blank check' companies are all the rage
Back before Omar Ishrak retired last year as the chief executive of Medtronic PLC, run out of Fridley, it's unlikely the board ever gave him…
Schafer: In a tough year, donors came through for Minnesota's charities
Donors to Minnesota nonprofits were surprisingly generous last year.The total from Give to the Max Day in November blew through the previous donation record,…
Schafer: How Kinetic, a new networking site from Minnesota, aims to stand out
The social media site LinkedIn stopped being useful the day I logged on to find someone I knew who could introduce me to a consultant…
Schafer: Distrust is all around, especially in America
The authors of the annual Edelman report on people's trust in major institutions should be forgiven for declaring a bankruptcy in their most recent annual…
Schafer: It may not look like the right time, but plenty of business owners head for the exits
It made sense when consultant Julie Keyes said last week that the coronavirus pandemic has disrupted the plans of baby boomers who had hoped to…
Schafer: If last week's chaos can't get CEOs involved for the civic good, what can?
The breathtaking actions of the mob incited by President Donald Trump to rush the Capitol Wednesday made it nearly impossible to keep your eyes off…
Schafer: Office life will change, but the need for offices won't
One item that stood out in this typically slow season for business news is the sale of a downtown Minneapolis parking lot to the global…
Schafer: I couldn't finish my annual financial review, so I started thinking bigger
Earlier this year I took my annual financial planning and year-in-review tasks off the to-do list.The only real goal left after about the Fourth of…
Schafer: What's behind the big decision Bob Dylan just made
Universal Music Group's recent announcement that it acquired the song catalog of Bob Dylan was light on details, like how much it paid, and…
Schafer: America has a dropout problem, and I'm not talking about schools
About 4 million fewer Americans are in the workforce now than at the start of the year.This is not about unemployment. About 19 million…
Schafer: Two Minnesota retail giants pay their workers when it counts most
Of 13 big retailers reviewed by research staff of the Washington, D.C. -based Brookings Institution, Best Buy was the top giver of additional compensation to front-line workers.
Schafer: Election revealed an economic paradox: Those doing well voted for change
What was already a very divided country remains one. And one of the biggest dividing lines is economic.
Schafer: Why the well-off should be thankful for good fortune
In the past 30 years, the share of wealth held by the bottom half of American households has been cut in half to less than 2%.
Schafer: Why Dollar General's store in downtown Minneapolis could be a good thing
Dollar General might have taken the place of Walmart as a retailer thought to both serve its customers well yet make communities worse. For those…
Schafer: Industry leader says e-commerce changes at retailers is here to stay
The pandemic has brought at least five years of progress in the transition to shopping online in eight or nine months — or maybe it’s…
Schafer: We all have COVID fatigue, yet there's reason for optimism
It doesn’t seem easy to tell the difference between COVID fatigue and depression. What constitutes the real differences is best left to the pros, but…
Schafer: You are on your own financially in America, voters said once again
Those looking for a clear-cut election decision must have been disappointed last week, with more divided government both in Washington and here in Minnesota. Yet…
At a moment of great need, how wide should charities and foundations open their wallets?
Philanthropy is another industry, if you could call it one, debating what to do now when doing business as usual just has to be wrong.…
Why the PPP bailout worked for some small businesses and not others
A congressional staff report this month on the Paycheck Protection Program didn't have much good to say about the Treasury Department's execution of it. The…
Schafer: Virtual conference Remo relies on good old-fashioned art of storytelling
And curiously, the virtual technology seemed to bring the stories more to life.
Schafer: What looks like a giveaway to Google is actually a bet against decline in Becker
As much as people hate taxpayer assistance for big businesses like Google, doing nothing won't be popular, either.
Schafer: People giving up on work is another sign that this recession is worse
And it's a message that employers and policymakers ought to be thinking more about.
Schafer: Winter is coming, and the restaurant owners all know it
Minnesotans shouldn't treat this like a normal winter.
Schafer: Venture capitalists willing to fund insurance startups who try to crawl over 'wall'
These firms are very much still startups, and you can hear a little Silicon Valley-style language in how they talk about themselves.
Schafer: Debut novel by Rochester author takes on big pharma issues
It wouldn't be possible to write so clearly about a complex industry without a deep understanding of it.
Schafer: It would be nice to say the latest big deal in steel is good for Minnesota
Honestly, it's too hard to tell yet what the Cleveland-Cliffs-ArcelorMittal transaction means.
Why bigger companies are faring fairly well in this downturn
The strong stock market in 2020 has been one of the biggest surprises in a year full of them, and we've heard the explanations, from…
Schafer: How Allina, Blue Cross define the 'value-based' trend sweeping health care
It's a term that's close to meaningless to an industry outsider.
Schafer: From the left and right, ideas flow for an income floor
Economist Milton Friedman and St. Paul Mayor Melvin Carter share an idea.
Schafer: We are working harder to adjust to the here and now of the pandemic
Six months into the pandemic in the U.S., the picture does not look that much clearer.
Schafer: Private equity won't fill Minnesota's pension gap
There's no quick and low-cost way to sell the private assets and no real-time price for what they are worth.
Schafer: Home real estate may be immune to the pandemic, but commercial properties aren't
It's easy to guess where it's really painful, with social distancing keeping lots of people from shopping in stores or staying in hotels.
Schafer: Pandemic-driven virtual conferences may be here to stay
The marketers at Minnesota’s media companies came up with clever State Fair T-shirts this year after all, like Minnesota Public Radio’s “The Great…
Schafer: Diverging effects of the pandemic visible in the numbers at Target, Walmart
It has long been understood that these two companies have a different core customer, even with a big overlap in merchandise at similar prices.
Schafer: Can a downturn actually be the right time to start a business?
Recessions do seem to create more incentive for potential customers to look for cheaper or more efficient ways to do things.
Schafer: Will it take a pandemic to finally change college sports?
Without money, the unfairness in the way risks and rewards were spread around gets exposed.
Schafer: The best-kept secret in town? An at-home workout provider takes off in the pandemic
Usage of the fitness and wellness coaching service of Wellbeats skyrocketed, but this was not some sort of accident.
Schafer: How Thrivent is gently raising its distinctive profile in a moment of change
A new marketing campaign aims to build more awareness of Thrivent as a financial services business that remains interested in helping people live a life of greater purpose.
Schafer: SuperAmerica, a well-liked Minnesota brand, has seen six owners churn through in a decade
Even for a time swirling with deals, this recent history seems absurd.
Lack of diversity among top executives contributes to racial wealth gap
Wealth inequality does not get nearly the attention it deserves, and nothing like the focus on income inequality.It's the hand-wringing over the role played by…
