UNCERTAINTY OVER IN WAKE OF ELECTION

Regardless of whether you were pleased or not with the outcome of last week’s national and local elections, the good news is that they are over.

History has shown us that purchases of big ticket items, such as autos and houses, always suffer in the midst of uncertain times. While there is certainly enough continuing uncertainty on Wall Street to be of concern, the significant uncertainty of who will hold the highest office in our nation has been eliminated.

Pleased or not with President-elect Obama’s agenda, his deft leadership skills cannot be denied. One can hope that, despite his anti-business taxation policies, his ability to bring the country together may create a greater sense of well being among the public (i.e., consumers). That would be good for business.

The post election period will also afford an opportunity for the lame duck Congress to get back to work on the additional economic stimulus proposals which are currently under consideration. These include significant enhancements to the current home-buyer tax credit program and revised mortgage lending guidelines.

Obama’s election may also very likely create the opportunity for changes in leadership at the highest levels in our State government. That can only be a good thing for Michigan and our local economy.