Recent content from Lee Schafer
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…
Schafer: Think the stock market has made big moves? Take a look at home values
What's happened since the beginning of the pandemic this year isn't exactly a normal recession.
Schafer: Here's why the $600 weekly jobless benefit meant so much to the U.S. economy
Even if Congress and the White House decided to continue the benefit, odds are slim it remains $600 per week.
Schafer: We might wear our masks yet if behavioral science is correct
Making decisions, over and over throughout a day, can use up our capacity for self-control.
Schafer: Big law firms embraced small-business loan program, and for good reason
It wasn't about making sure the rock stars kept getting paid but ensuring the crew members did.
Schafer: Stock market rising on the indispensable companies
The boomers and Xers remember when Microsoft was so dominant that a federal judge ordered it broken up. That year of peak Microsoft…
Schafer: How major league teams can still make money in front of empty stands
Is this the year that sports moves closer to completing its transition from an in-person experience to a reality TV show?
Schafer: Work from home is not about the place
The reasons some employers canned flexible work programs were what you would expect. Yet those seem like correctable management mistakes.
Schafer: An adjustment here, an adjustment there, soon you're talking real money
It's no defense of adjusting numbers for the virus to point out that investors see adjusted financial information all the time
Schafer: As threat vigilance ends, a new way of work is taking shape
The worst days of the spread of infection in our country’s COVID-19 pandemic were not in April after all. They were last week. There was…
New VC firm focuses on Minnesota's bread and butter, and some software
Staking out a well-defined position in venture capital doesn’t look to be easy. Until a track record emerges of generating better returns than the alternatives…
What is Bremer Financial worth? Well, it's complicated
The latest annual tax form called the 990 for the Otto Bremer Trust is now on the St. Paul foundation’s website, and very…
Schafer: How to coax holdouts to don a mask? Take a page from the Spartans
When you think about the health of the group as a whole, wearing a mask makes perfect sense.
Schafer: The last time Minneapolis rioted, one large company did more than just talk about change
Reminders of the one-time giant Control Data Corp. (CDC) can be seen all over the Twin Cities, from a street named Computer Avenue in Edina…
Schafer: So the job market came back in May, but it was still awful
It was the second-worst month in the more than 27 years that layoff announcements of U.S. employers have been tracked.
Schafer: Stress in child care will affect recovery from pandemic
In addition to being kept safe, active and fed, kids in a high-quality child care program are building skills that will help them do well once they get to kindergarten.
Schafer: All around Lake Street, hundreds of business owners now face difficult choices
Even with donations and GoFundMe fundraising, it could take years for this commercial corridor in the state's largest city to fully come back.
Schafer: More savings looks like a good thing, but it's not
Since the last recession ended in 2009, Americans have generally saved about 5% of what they made. That held up until March, when the savings…
Schafer: If you're near retirement, some tips for the hard choices coming your way
Not always being able to pick your own retirement date is just one challenge.
Schafer: Delivery business is dodgy all around, especially these days
Drivers sure need work, too, but delivery doesn't work great for them, either.
Schafer: Maintaining work community away from the office isn't easy
The change in thinking isn't where we work so much as it's how to work better with the tools we have.
Schafer: There's still resilience in tech startups in middle of the U.S.
Never easy, building a company from scratch is going to be harder in this year of the pandemic recession.
Schafer: A job lost in government has the same economic effect as one lost in a business
Declining state and local government spending really can make an economic downturn worse. And this recession is bad enough already.
Schafer: Buffett comforted investors until he described selling
It was sobering to realize he'd already concluded that the airlines likely won't be the same.
Schafer: At the end of an awful month, here's what the stock market taught us
The simple explanation for the bounce back? Hopefully April was the low point.
Schafer: People in Minnesota businesses are solving problems fast
Instead of fixating on what can't be done for users, here are examples of focusing on what can.
Schafer: Bankers are at the crossroads of this crisis and face new scrutiny
We're still early in this economic crisis, but banks should err on the side of keeping businesses able to recover and able to pay workers and suppliers.
Schafer: The pain of social distancing paid off for Minnesota health care providers
HealthPartners shows how the providers have had to tweak facilities, make plans for staffing and more so much still unknown about the disease.
Schafer: There are no simple choices to find an exit from this lockdown
It's clear we can't go back to normal yet, and likely not for months.
Schafer: TP makers, internet providers didn't expect everyone to be home at once
A better question than why there are shortages or surpluses is why there aren't many more of them.
Schafer: Supportive communities are a strength, and working from home on video can't last
When you think about it, the supportive communities of elder care centers can be thought of as a metaphor for healthy neighborhoods, towns, cities and workplaces.
Schafer: Executive pay cuts are just a start in this gloomy time
While it's never going to be possible to see a small cut on $7 million in annual pay as painful, there is a case for these cuts as one part of an authentic leadership response to crisis.
Schafer: Here's why Minnesota doesn't have enough hospital beds
One update from state officials this week on the COVID-19 epidemic included details on facilities to house more hospital beds. So far five usable sites…
Schafer: How one Twin Cities business owner views the path through the downturn
Had Pete Scherer and his colleagues in the family business not managed to survive the Great Recession, they wouldn't be as confident as they are now.