Bullish market activity in 2021 will cost jobs: $7 billion money manager

Money manager Kevin Nicholson expects the stock market to stabilize and rise in early 2021.

But the co-chief investment officer of global fixed income at RiverFront Investment Group warns it’ll come at a cost to the jobs market.

“Companies are going to right-size their business,” Nicholson told CNBC’s “Trading Nation” on Thursday. “This is going to create the divergence between the economy and the market.”

According to Nicholson, it’ll be a major setback to the economic recovery from the Covid-19 due to the hit to consumption.

“A lot of these workers who were furloughed will not end up going back to work,” he said. “They’re going to become permanently unemployed.”

Nicholson already sees the trend unfolding in this week’s layoff announcements from Citigroup and Wells Fargo.

‘The pandemic pledge’

“The pandemic pledge that a lot of companies put out there will go away as they move towards focusing on profitability,”

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Mayor Johnson talks slight COVID-19 uptick, CARES Act funding, city manager candidates

SAVANNAH, Ga. (WSAV) – It’s been six months since the COVID-19 pandemic hit close to home and Mayor Van Johnson says Savannah businesses are hurting.

The mayor says more than 400 people applied for a second round of the Coronavirus Aid, Relief, and Economic Security (CARES) Act funding.

Johnson says coronavirus aid should go into the pockets of small businesses who need it most. He says the first time around that didn’t happen.

“Somehow or another there was some miscommunication,” said Johnson during his weekly press conference. “There was more money given to loan forgiveness than was given to new folks seeking loans and so, therefore, the numbers were skewed.”

This time around the city will only have less than $2 million to divvy up between hundreds of applicants.

“Everybody has needs, but I think the way that we have designated the

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Artio Medical Appoints Paul Muller as Chief Technology Officer and General Manager

“Paul is a highly skilled engineer and seasoned industry veteran with exceptional team-building and leadership skills who has demonstrated a successful track record developing novel, market-leading medical devices,” stated Dr. F. Nicholas Franano, President and CEO of Artio Medical. “We are thrilled to have someone with Paul’s talent and vision leading product development at Artio.”

Previously, Mr. Muller was CTO and GM at Flow Forward Medical (recently acquired by Artio) where he managed the development of Flow Forward’s Arteriovenous Fistula Eligibility (AFE) System™, a small, temporary, external blood pump system for kidney failure patients that stimulates vein enlargement prior to the creation of vascular access sites for hemodialysis. Paul previously held leadership positions and achieved major engineering and product development milestones at Thoratec (subsequently acquired by St. Jude Medical and Abbott) and Guidant (subsequently acquired by Abbott). Mr. Muller is a named inventor on 31 patents, and he has

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