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Utah’s Breaks Financial Transaction Value Record for Second Year in a Row, According to MountainWest Capital Network Report

Utah’s Breaks Financial Transaction Value Record for Second Year in a Row, According to MountainWest Capital Network Report
PR Newswire
SALT LAKE CITY, May 18, 2022

Technology and enterprise software continue to be the main drivers of Utah deals, w…

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Utah's Breaks Financial Transaction Value Record for Second Year in a Row, According to MountainWest Capital Network Report

PR Newswire

Technology and enterprise software continue to be the main drivers of Utah deals, while ecommerce grew significantly in the past year.

The total value of Utah's equity transactions was the highest on record, while the number of deals rebounded from lows in 2020.

SALT LAKE CITY, May 18, 2022 /PRNewswire/ -- Utah's financial market transactions reached a record-high value for the second year in a row, according to MountainWest Capital Network's (MWCN) annual Deal Flow Report, released today. Now in its 27th year, MWCN's Deal Flow Report is Utah's only in-depth analysis of the equity-related financial transactions – including mergers and acquisitions, public deals and private placements – that shaped the state's business environment in 2021.

Financial transactions in Utah showed significant recovery from the impacts of the COVID pandemic in 2021, with MWCN tracking 435 deals throughout the year – a sharp rise from 289 in 2020, and more in line with 474 in 2019. The total value of deals in the state exceeded $30 billion for the first time, reaching $31.2 billion. This was a significant jump from the previous record of $26.4 billion in 2020 and $25.1 billion in 2019.

Utah's track record of top GDP growth and high national rankings for favorable business climate continues to attract high-tech jobs as they shift away from coastal cities to more affordable inland cities, according to MWCN. The Milken Institute's Best-Performing Cities 2022 report named Provo–Orem as the top large city in the U.S. and Logan as the top small city in the U.S. based on levels of employment, wage and high-tech GDP growth.

"Companies are looking for great places to do business and Utah has been at the top of everyone's lists for years," said Kady Reese, MWCN's Deal Flow chair. "That consistency as an ideal climate for running a business with an educated, high-tech workforce continues to benefit the state and helps our financial markets keep growing."

Technology and enterprise/SaaS software once again drove the highest number of investments in Utah during 2021, making up 41% of deals. Consumer and retail/e-commerce has grown substantially in recent years and now represents 31% of total transactions in this year's report. Healthcare was third with 14% of Utah's investment interest.

Utah's largest disclosed deal value for 2021 was the $3.5 billion Pluralsight acquisition, with Divvy and PCF Insurance Services also exceeding $2 billion. Public issuances in 2021 doubled year-over-year from 2020 and included a number of SPACs. The largest public issuances included Black Rifle Coffee Company at $1.70 billion, Qualtrics at $1.55 billion, and Owlet Baby Care at $1.40 billion.

The Deal Flow Report is a publication of the MWCN, a nonprofit organization, created to foster a dynamic flow of information about capital formation and distribution. It does not report on transactions that were either confidential or otherwise not publicly disclosed.

The full 2021 MWCN Deal Flow Report can be viewed at https://www.mwcn.org/deal-flow/.

About MountainWest Capital Network
MountainWest Capital Network is Utah's first and largest business networking organization devoted to supporting entrepreneurial success and dedicated to the flow of financial, entrepreneurial and intellectual capital. Learn more at www.mwcn.org.

 

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SOURCE MountainWest Capital Network

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Economics

Expert on Bath & Body Works: ‘an easy double the next three years’

Bath & Body Works Inc (NYSE: BBWI) might have been painful for the shareholders this year, but the road ahead will likely be a rewarding one, says…

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Bath & Body Works Inc (NYSE: BBWI) might have been painful for the shareholders this year, but the road ahead will likely be a rewarding one, says the Senior Vice President and Portfolio Manager at Westwood Group.

BBWI separated from Victoria’s Secret

The retail chain separated from Victoria’s Secret in 2021, which, as per Lauren Hill, clears the way for a 100% increase in the stock price in the coming years. On CNBC’s “Closing Bell: Overtime”, she said:

[Bath & Body Works] has really strong pricing power. They have 85% of their supply chain in the United States and with the Victoria’s Secret brand now gone, I think it’s a wonderful buy; an easy double the next three years.

Last month, the Columbus-headquartered company reported results for its fiscal first quarter that topped Wall Street expectations.

Bath & Body Works is a reopening play

The stock currently trades at a PE multiple of 6.64. Hill is convinced Bath & Body works is a reopening name and will perform so much better as the world continues to pull out of the pandemic. She noted:

Customers have missed buying their scented products in store and as their social occasion calendars fill up, they are getting back out there and buying more gifts, including Bath & Body Works products.

Hill also dubbed BBWI a great pick amidst the ongoing inflationary pressures because of its reasonably priced products. Shares are down more than 50% versus the start of 2022.

The post Expert on Bath & Body Works: ‘an easy double the next three years’ appeared first on Invezz.

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Economics

Majority Of C-Suite Execs Thinking Of Quitting, 40% Overwhelmed At Work: Deloitte Survey

Majority Of C-Suite Execs Thinking Of Quitting, 40% Overwhelmed At Work: Deloitte Survey

Authored by Naveen Anthrapully via The Epoch Times,

A…

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Majority Of C-Suite Execs Thinking Of Quitting, 40% Overwhelmed At Work: Deloitte Survey

Authored by Naveen Anthrapully via The Epoch Times,

A majority of C-suite executives are considering leaving their jobs, according to a Deloitte survey of 2,100 employees and C-level executives from the United States, Canada, the UK, and Australia.

Almost 70 percent of executives admitted that they are seriously thinking of quitting their jobs for a better opportunity that supports their well-being, according to the survey report published on June 22. Over three-quarters of executives said that the COVID-19 pandemic had negatively affected their well-being.

Roughly one in three employees and C-suite executives admitted to constantly struggling with poor mental health and fatigue. While 41 percent of executives “always” or “often” felt stressed, 40 percent were overwhelmed, 36 percent were exhausted, 30 percent felt lonely, and 26 percent were depressed.

“Most employees (83 percent) and executives (74 percent) say they’re facing obstacles when it comes to achieving their well-being goals—and these are largely tied to their job,” the report says. “In fact, the top two hurdles that people cited were a heavy workload or stressful job (30 percent), and not having enough time because of long work hours (27 percent).”

While 70 percent of C-suite execs admitted to considering quitting, this number was at only 57 percent among other employees. The report speculated that a reason for such a wide gap might be the fact that top-level executives are often in a “stronger financial position,” due to which they can afford to seek new career opportunities.

Interestingly, while only 56 percent of employees think their company executives care about their well-being, a much higher 91 percent of C-suite administrators were of the opinion that their employees believe their leaders took care of them. The report called this a “notable gap.”

Resignation Rates

The Deloitte report comes amid a debate about resignation rates in the U.S. workforce. Over 4.4 million Americans quit their jobs in April, with job openings hitting 11.9 million, according to the U.S. Department of Labor. In the period from January 2021 to February 2022, almost 57 million Americans left their jobs.

Though some are terming it the “Great Resignation,” giving it a negative connotation, the implication is not entirely true since most of those who quit jobs did so for other opportunities. In the same 14 months, almost 89 million people were hired. There are almost two jobs open for every unemployed person in the United States, according to MarketWatch.

In an Economic Letter from the Federal Reserve Bank of San Francisco published in April, economics professor Bart Hobijn points out that high waves of resignations were common during rapid economic recoveries in the postwar period prior to 2000.

“The quits waves in manufacturing in 1948, 1951, 1953, 1966, 1969, and 1973 are of the same order of magnitude as the current wave,” he wrote. “All of these waves coincide with periods when payroll employment grew very fast, both in the manufacturing sector and the total nonfarm sector.”

Tyler Durden Sat, 06/25/2022 - 20:30

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Spread & Containment

Optimism Slowly Returns To The Tourism Sector

Optimism Slowly Returns To The Tourism Sector

Coming off the worst year in tourism history, 2021 wasn’t much of an improvement, as travel…

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Optimism Slowly Returns To The Tourism Sector

Coming off the worst year in tourism history, 2021 wasn't much of an improvement, as travel remained subdued in the face of the persistent threat posed by Covid-19.

According to the United Nations World Tourism Organization (UNWTO), export revenues from tourism (including passenger transport receipts) remained more than $1 trillion below pre-pandemic levels in 2021, marking the second trillion-dollar loss for the tourism industry in as many years.

As Statista's Felix Richter details below, while the brief rebound in the summer months of 2020 had fueled hopes of a quick recovery for the tourism sector, those hopes were dashed with each subsequent wave of the pandemic.

And despite a record-breaking global vaccine rollout, travel experts struggled to stay optimistic in 2021, as governments kept many restrictions in place in their effort to curb the spread of new, potentially more dangerous variants of the coronavirus.

Halfway through 2022, optimism has returned to the industry, however, as travel demand is ticking up in many regions.

You will find more infographics at Statista

According to UNWTO's latest Tourism Barometer, industry experts are now considerably more confident than they were at the beginning of the year, with 48 percent of expert panel participants expecting a full recovery of the tourism sector in 2023, up from just 32 percent in January. 44 percent of surveyed industry insiders still think it'll take until 2024 or longer for tourism to return to pre-pandemic levels, another notable improvement from 64 percent in January.

Tyler Durden Sat, 06/25/2022 - 21:00

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