The Federal Deposit Insurance Corporation (FDIC) today transferred all deposits—both insured and uninsured—and substantially all assets of the former Silicon Valley Bank of Santa Clara, California, to a newly created, full-service FDIC-operated ‘bridge bank’ in an action designed to protect all depositors of Silicon Valley Bank. Depositors will have full access to their … [More]
Financial Tips for This Women’s History Month
March is Women’s History Month, celebrating the amazing contributions women have made through the years. The U.S. Small Business Administration estimates women in Arizona make up about 46% of workers and own more than 45% of businesses. Other estimates from Merchant Maverick’s Top States for Women-Led Entrepreneurs rank Arizona third in the nation for women-led businesses, with … [More]
‘Mr.: You Can Hear the Song of This Town’ Closes This Sunday at Phoenix Art Museum
Don't miss your last chance to experience Mr.: You Can Hear the Song of This Town before it closes this Sunday, March 12. The immersive special-engagement exhibition explores the vivid, chaotic, and manga-inspired world of one of today’s most popular Japanese artists. Mr.: You Can Hear the Song of This Town showcases the imaginative and visually complex works of contemporary … [More]
Dance Heginbotham to Present Performance Full of Athleticism, Humor, Theatricality
Dance Heginbotham will perform an evening of work in collaboration with Ethan Iverson, the critically acclaimed jazz composer, pianist and founding member of The Bad Plus, at Scottsdale Center for the Performing Arts on March 25. Dance Heginbotham has established itself as one of the most adventurous and exciting new companies on the contemporary dance scene. Iverson, along … [More]
San Francisco Multifamily Investor Acquires Community in Phoenix
San Francisco-based real estate firm Hamilton Zanze (HZ) has acquired the 296-unit Springs at Deer Valley apartment community in Phoenix. The purchase marks the firm's seventh property in their current portfolio in the state of Arizona. The community will be rebranded as the Ironwood at Happy Valley apartments. The property was marketed by Walker & Dunlop's investment … [More]
Rents Drop to Lowest Level in a Year, Says Report
The median U.S. asking rent rose 1.7% year over year to $1,937 in February—the smallest increase in nearly two years and the lowest level in a year, according to a new report from Redfin, the technology-powered real estate brokerage. Rents were up nearly 10 times that much (16.5%) a year earlier. February was the ninth straight month in which rent growth slowed on a … [More]
PCs and Laptops Losing Race with Mobile Phones: Global Ownership Rate Dropped by 8.1% in 2022
Over the past years, global PC and laptop ownership, usage and importance have significantly dropped, replaced largely by smartphones. The downsizing trend continued in 2022, with both PCs and laptops seeing their ownership rates among internet users fall. According to data presented by CasinosEnLigne.com, 58% of internet users owned a PC or laptop last year, or 8.1% less … [More]
Phoenix Nonprofit Names New CEO with Unique History
For the first 14 years of her life, Carrie Masters was in and out of homelessness, surrounded by drug addiction and relying on programs through UMOM and the Thomas J. Pappas School. She now is the newly-appointed, first-ever female CEO of St. Joseph the Worker (SJW), a Phoenix nonprofit with a mission to assist homeless, low-income, and other disadvantaged individuals in their … [More]
Scottsdale-Based Customer Relationship Management Co. Aligns with Small Business Organizations
Scottsdale-based Act!, a leading customer relationship management (CRM) and marketing automation solution for small to medium-sized businesses (SMBs), announced it has joined the Small Business Digital Alliance (SBDA), the public-private co-sponsorship between the U.S. Small Business Administration (SBA) and Business Forward, Inc, as a local ally. The Alliance, which focuses on … [More]
Healthy Rice Bowl Chain Signs 10-Store Deal to Expand in Arizona
WaBa Grill, one of the nation’s leading healthy rice bowl chains, is proud to announce a recently inked multi-unit development deal that will significantly expand its presence in Arizona. Signed by longtime WaBa Grill franchisee Jerry Bajwa of Bajwa Group of Companies, the new Arizona development deal paves the way for 10 WaBa Grill locations to open throughout Maricopa and … [More]
Employees Say Working On-Site Is Not Worth the Commute, According to New Research
About half (46%) of knowledge workers report that their companies are not doing anything to make it worthwhile to commute to the office, "The 2023 Future of Working and Learning Report" released today by Executive Networks found. A majority of senior HR leaders (71%) and senior business leaders (62%) agree that there's likely a "proximity bias" against remote/hybrid workers, … [More]
U.S. Annual Home Equity Gains Cool Again in Q4 2022, Says Report
CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released the Homeowner Equity Report (HER) for the fourth quarter of 2022. The report shows that U.S. homeowners with mortgages (which account for roughly 63% of all properties) saw equity increase by 7.3% year over year, representing a collective gain of $1 trillion, for an … [More]
Phoenix Market Can Expect Strong Hotel Growth, Says Report
CBRE is raising its forecast for hotel performance in the Phoenix metro and nationally on the heels of industry gains in Q4 2022 and the expectation of slightly positive GDP growth in 2023 according to the CBRE Hotels report. In Phoenix, revenue per available room (RevPAR) in 2023 is expected to increase to $122.30, up 8.5% year-over-year and an increase of $2.45 from its … [More]
Why Tracking Customer Acquisition Costs Is Essential in Today’s Uncertain Economy
The #1 driver of the American economy is shopping, and consumers are slowing down as inflation drives prices up while wages lag. At 3.5%, the savings rate is its lowest since 2008 and far below the pre-COVID rate of 9%. Meanwhile, more than two-thirds of workers are holding management accountable for a better workplace, and 56% are only willing to wait 30 to 60 days for changes … [More]
City of Phoenix Working to Restore Service after System Outage
The City of Phoenix is working to restore service after a system outage impacted some connectivity and network services including access to phoenix.gov. The technology outage began late Tuesday evening caused by a network equipment failure. The City worked with the hardware manufacturer to resolve the issue, and network service was largely restored before the start of business … [More]
Celebrating the Vital Role of Women in Arizona History
The International Women’s Forum Arizona commemorates and encourages the study, observance, and celebration of the vital role of women in American History. As International Women’s Day is celebrated March 8th, tap into the long list of women in IWF AZ who have made history and utilize our nonprofit as a resource for your magazines. International Women's Day (IWD) is a global day … [More]
New Owner Formally Submits Plans to Transform the Smoke Tree Property into Boutique Hotel
After much public outreach, Scottsdale-based Walton Global, a real estate investment and land asset management company with US$3.4 billion under management, has submitted an application with the Town of Paradise Valley to redevelop the old Smoke Tree Resort near Scottsdale Road and Lincoln Drive in Paradise Valley. The development team was sensitive to the needs and concerns … [More]
U.S. Annual Home Price Growth Continues Single-Digit Slowdown in January
CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for January 2023. U.S. home prices continued their gradual free fall in January, with the 5.5% annual gain down for the ninth straight month and the lowest recorded since June 2020. Deceleration was particularly … [More]
