Morning Business Report: Pandemic savings in households thinning out
The cushion of savings many built up during the pandemic is thinning out–in some households, it is already gone.
Goldman Sachs estimates Americans have spent down about 35% of the extra savings they accumulated during the pandemic as of mid-January.
AMC Theaters is changing the way it charges for seats– prices of a ticket will now be based on seat location, meaning seats in the front will be cheaper while more desirable seats in the middle will now cost more. The ticket pricing initiative, called sightline at AMC, will roll out at all of its roughly 1,000 movie theaters by the end of the year.
A new survey finds Washington is not meeting the needs of small businesses. 70% Of small businesses gave the federal government a C grade or below according to the latest Goldman Sachs small businesses survey. It shows the federal government is coming up short when it comes to the effectiveness of programs, services and tax credits for small businesses.
FOX has sold out of Super Bowl ad inventory, with some 30-second spots fetching upwards of $7 million. Crypto ads are out this year, while booze ads are in. This as nearly 18 million Americans plan to watch the game at a bar or restaurant. Ticket IQ says the game’s “get in” cost went from $5,600 per ticket one week ago to roughly $6,000 going into Monday morning. “Get in” prices reflect the cheapest seat in the stadium, including broker fees.