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  1. Public Safety Multi-Year Tailwinds Ahead

    Public Safety Multi-Year Tailwinds Ahead

    With rising crime, increased scrutiny is falling on police response. Given recent impacts from heavily publicized events, staffing challenges at police departments, and increased public safety spending via state/municipal/federal sources, technology-enabled solutions have strong potential to improve public safety.

  2. Restaurants with No Fear of the Dark

    Restaurants with No Fear of the Dark

    Restaurants are looking to maximise profits by running operationally efficient kitchens and generating new revenue streams. Delivery-enabled profit maximising techniques and asset sweating struggle to cohabit alongside traditional kitchen operations.

  3. Market Dynamics Driving US Electric & Gas Utilities

    Market Dynamics Driving US Electric & Gas Utilities

    Inflation is expected to be a prominent theme for the group this year, as Utilities pass most costs through to customers, offering an inflationary hedge to investors. Monitoring customer bill inflation is vital in the current backdrop. Large-cap Utilities with multi-state jurisdictions and with exposure to commodities face less project risk than smaller regional peers.

  4. Asian Semiconductors – Does Elevated Inventory Mean a Slowdown?

    Asian Semiconductors – Does Elevated Inventory Mean a Slowdown?

    Semiconductor inventory was up two days QoQ to 86 in 4Q21. These levels are above the 81-day 4Q average since 2019 and the 69-day median in the past decade.

  5. Restaurants Mark to 2021 Market Share

    Restaurants Mark to 2021 Market Share

    The restaurant industry has demonstrated impressive resilience, with 2021 sales +24%, reaching ~$576.5BN, nearly fully recovering vs. 2019 (-0.3%), even as 1Q21 sales were still depressed amid broad-based dining restrictions and reduced mobility.

  6. How Might Water Levels Affect Power Supplies?

    How Might Water Levels Affect Power Supplies?

    A review of multiple data sources for British Columbia and the Pacific Northwest for current snowpack levels and water equivalent levels compared with those versus history shows low levels worthy of note.

  7. Can consolidation move the dial on European telecoms?

    Can consolidation move the dial on European telecoms?

    Telco economic returns remain poor and European telecoms is seen as fundamentally flawed by many investors. But can widespread consolidation – if it happens – change this picture?

  8. Are the Fears of a Sharp Housing Slowdown Overdone?

    Are the Fears of a Sharp Housing Slowdown Overdone?

    The underlying strength in homebuilding results from the undersupply of housing that results from the low level of home construction from 2007-2020 and is seen in the 1.7 month supply of existing homes for sale – far below the six-month historical average, the multi-decade low rental and homeowner vacancy rates, and with demand supported by healthy demographic trends.
    However, the higher mortgage rates and resulting impact on affordability should lead to slower, but continuing home price appreciation. In addition, the rising mortgage rates will likely impact housing turnover, affecting companies tied to repair and remodeling spending.

  9. Cementing a Commitment to Carbon Reduction

    Cementing a Commitment to Carbon Reduction

    Concrete is the basis of most construction and its most significant source of emissions. Cement is the principal binding agent for producing concrete, and it is estimated that cement production alone represents 7% of manufactured CO2 emissions (equivalent to India’s as a country). Furthermore, cement production will not decarbonize as much as other materials simply by switching to “green” power/fuels.

  10. Price Elasticity: The Elephant Is in the Room

    Price Elasticity: The Elephant Is in the Room

    Household savings climbed higher in the first two years of the pandemic thanks to hefty government stimulus, robust stock market growth, and lower spending. Improvements in mobility have allowed consumers to release their pent-up demand in year three of the pandemic and spend at a higher level on just about everything.