The NFIB Small Business Optimism Index rose 2.4 points in March to 98.2. March’s reading is the first return to the average historical reading since last November. The NFIB Uncertainty Index increased six points to 81, which was primarily driven by owners being more uncertain about whether it is a good time to expand their business and make capital expenditures in the coming months.

“Main Street is doing better as state and local restrictions are eased, but finding qualified labor is a critical issue for small businesses nationwide,” said NFIB Chief Economist Bill Dunkelberg. “Small business owners are competing with the pandemic and increased unemployment benefits that are keeping some workers out of the labor force. However, owners remain determined to hire workers and grow their business.”

Other key findings include:

—Seven of the 10 Index components improved and three declined.

—Sales expectations over the next three months improved eight points to a net 0% of owners, a historically low level.

—Earnings trends over the past three months declined four points to a net negative 15%.

As reported in NFIB’s monthly jobs report, 42% of owners reported job openings that could not be filled, a record high reading. Owners continue to have difficulty finding qualified workers to fill jobs as they compete with increased unemployment benefits and the pandemic keeping some workers out of the labor force.

A net 28% of owners reported raising compensation (up three points) and the highest level in the past 12 months. A net 17% plan to raise compensation in the next three months, down two points.

Seven percent of owners cited labor costs as their top business problem and 24% said that labor quality was their top business problem. Finding eligible workers to fill open positions will become increasingly difficult for small business owners.

Fifty-nine percent of owners reported capital outlays in the next six months, up two points from February. Of those making expenditures, 41% reported spending on new equipment, 26% acquired vehicles, and 14% improved or expanded facilities. Six percent acquired new buildings or land for expansion and 11% spent money for new fixtures and furniture.

Twenty percent of owners plan capital outlays in the next few months, down three points from February. Owners are not planning on investing in their businesses as expected future sales and business conditions remain below average.

A net negative 6% of all owners (seasonally adjusted) reported higher nominal sales in the past three months, down eight points from February. The net percent of owners expecting higher real sales volumes improved eight points to a net negative 0%.

The net percent of owners reporting inventory increases decreased two points to a net negative 5%. A net 3% of owners view current inventory stocks as “too low” in March, down two points but remaining at historically high levels. A net 4% of owners plan inventory investment in the coming months, up two points from February.  

The net percent of owners raising average selling prices increased one point to a net 26% (seasonally adjusted). Eight percent of owners reported lower average selling prices and 36% reported higher average prices. Price hikes were the most frequent in wholesale (65% higher, 5% lower) and retail (48% higher, 5% lower). A net 34% (seasonally adjusted) plan price hikes.

The frequency of reports of positive profit trends declined four points to a net negative 15% reporting quarter on quarter profit improvements. Sales have not yet improved enough for owners to report higher earnings.

Among those owners reporting lower profits, 46% blamed weaker sales, 15% cited the usual seasonal change, 10% cited a higher cost of materials, 5% cited labor costs, 5% cited lower prices, and 4% cited higher taxes or regulatory costs. For owners reporting higher profits, 68% credited sales volumes, 12% cited usual seasonal change, and 7% cited higher prices.

Two percent of owners reported that all of their borrowing needs were not satisfied. Twenty-seven percent reported all credit needs were met and 59% said they were not interested in a loan. A net 1% reported that their last loan was harder to get than in previous attempts. One percent of owners reported that financing was their top business problem. The net percent of owners reporting paying a higher rate on their most recent loan was 0%, up two points from February.

Commercial

Watford Enterprises LLC/Dale Jones Construction LLC, 825 Grand Ave, Com Fence/Roof/Siding, $33,000   

Valley Mt Property Holdings LLC/Lobo Construction Inc, 1807 24th St W, Com Fence/Roof/Siding,  $240,000 

Valley Mt Property Holdings LLC/Lobo Construction Inc, 1807 24th St W, Com Fence/Roof/Siding, $4,000

904 Main LLC/ Summit Properties And Development, 1904 Main St, Com New Other, $900,000

Target Corp T-1333,  403 Main St, Com Remodel, $39,270

Stockman Bank Of Montana/Hardy Construction Co, 1405 Grand Ave, Com Remodel, $405,000

Sisters Of Charity Of Leavenworth, 1233 N 30th St, Com Remodel, $140,000

Daniel Property LLC/Reichenbach Construction Inc, 2045 Broadwater Ave, Com Remodel, $38,000

JMS Properties, LLC/Karv LLC, 24 Orchard Ln, Com Remodel, $39,000

Hill Crest, Inc/Neumann Construction, 1601 Lewis Ave, Com Remodel, $5,000

Shiloh Silver Screen Partners/Jones Construction, Inc, 1027 Shiloh Crossing Blvd, Com Remodel, $20,000

Jon Switzer/Brown Plumbing & Heating, 2147 Poly Dr, $20,000

The Back Forty LLC /B & W Builders, 331 Calhoun Ln, Com Remodel – Change In Use, $45,000

Vallie Properties LLC/ Red Lodge Rock & Retainers, 2143 Lampman Dr, Demolition Permit Commercial, $23,000

residential

Mountain Range LLC/Formation Inc, 4710 Sky Vista Ct, Res New Accessory Structure, $7,080

Lande, Caleb D & Kristin, 1720 Iris Ln , Res New Accessory Structure, $20,000

Infinity Home LLC/ Infinity Home, 2434 Bonito Loop, Res New Single Family, $238,712

Jeff Kreitzberg/Jeff Kreitzberg Homes, 2216 Entrada Rd, Res New Single Family, $238,910

Infinity Home/Infinity Home LLC, 1015 Matador Ave, Res New Single Family, $212,376

Worthington, Scott & Becky, 4231 Creekwood Dr, Res New Single Family, $386,506

Krivitz, Justin T & Elizabeth A/Steve Gountanis Homes Inc, 5425 Riesling Ln, Res New Single Family, $384,854

Bob Pentecost/Bob Pentecost Construction, 7021 Copper View Way, Res New Single Family, $378,000

DCL Ventures LLC/Zuhaus Construction LLC, 5315 Riesling Ln, Res New Single Family,   $650,000

Wagenhals Land And Livestock L, 1110 Daybreak Dr, Res New Single Family,  $300,000

After the announcement that Magic City Blues will indeed be held in Billings this summer, promoters reported being flooded with requests for tickets from all across the country.

Magic City Blues will be celebrating its 20th Anniversary with three days of perormances on August 5, 6 and 7 in downtown Billings. The urban music fest will feature Willy G, Mike Farris, Jessica Eve, Free Spirit Soul, Anthony Gomes, Keb’ Mo’, Karkin Poe, Daniel Kosel & Madrona Road, John Roberts Y Pan Blanco, Kevin Burt, G. Love  The Juice and Samantha Fish.

Music fans will be arriving in Billings for the event from Alaska, California, Colorado, Delaware, Florida, Georgia, Idaho, Missouri, as well as from dozens and dozens of towns throughout Montana.

For details go to  www.MagicCityBlues.com

Governor Greg Gianforte extended the payment and filing deadlines for Montana individual income taxpayers’ 2020 tax returns to May 17, 2021. 

“Last year brought real, serious challenges to Montanans, and it’s only appropriate to extend the deadline so Montana taxpayers have some extra time to file, without having to worry about interest or penalties,” Governor Gianforte said. 

The May 17 deadline is in keeping with the new federal filing deadline.

The Department of Revenue advises that the American Rescue Plan Act excludes the first $10,200 of unemployment benefits from federal taxes for those making less than $150,000. Those who have already filed their federal and Montana tax returns do not have to amend their returns. But those who received unemployment benefits in 2020 and have not yet filed should follow the revised instructions for their Montana return at MTRevenue.gov. 

By John R. Lott Jr. and Thomas Massie

There were so many lies in Vice President Kamala Harris’ and President Joe Biden’s presentations on guns Thursday that it is hard to know where to start. One thing is certain, though: The media fact-checkers won’t question their claims. Here are just a few of the false ones:

>The background check system “has kept more than 3 million firearms out of the hands of dangerous people.”

Since the Brady background checks began in 1994, there have been 3.5 million initial denials. However, it is one thing to stop a felon from buying a gun. It is quite another to stop a law-abiding citizen from buying a gun just because his or her name is similar to a felon’s. In 2017, for example, there were 112,000 initial denials for supposedly attempted prohibited purchases, but just 12 federal prosecutions by June 2018. The reason is that these weren’t real cases.

The background check system is a mess, with the mistakes primarily born by minorities through no fault of their own. The error rate for black males is three times their share of the population.

>The Charleston Loophole

Biden says that if there had only been more than three days to check Dylann Roof’s background, Roof would have been stopped from buying a gun, thereby preventing the horrible Charleston, S.C., church shooting. But that is a lie. You can’t buy a gun if you have a felony or certain misdemeanor convictions, or if you are arrested but not yet convicted of a crime with a possible prison sentence of at least one year. Since Roof’s arrest was for a misdemeanor drug offense, which had a maximum possible sentence of six months, a longer waiting period would not have blocked his gun purchase.

If Democrats want to change the law so that any misdemeanor arrest prevents gun purchases, this would at least be related to the Charleston case. But Democrats want to impose up to a 30-day waiting period without explicitly stating that is their real aim. If they want a long waiting period, they should make a case for why this would somehow be desirable. Instead, Democrats pretend that their proposal would have stopped the Charleston shooting when their actual goal is to obtain a long waiting period.

>Biden said that gunmakers are “exempt from being sued. … This is the only outfit that is exempt from being sued.”

The president claims this is the top change he wants. In fact, however, if gunmakers make defective guns, you can sue them. Likewise, if they break the law (e.g., sell a firearm without a background check), you can sue them. Biden’s proposal is very different from current law. He wants gun manufacturers held civilly liable for misuse of guns they sell. This would allow lawsuits against manufacturers and sellers whenever a crime, accident, or suicide occurs with a gun. The straightforward result would be to put gunmakers out of business.

Imagine what would happen to the car industry if similar rules were applied. The National Safety Council estimates that 39,404 Americans died and 4.5 million were injured from car accidents in 2018. Cars are also frequently used to commit crimes.

>“The vast majority of Americans believe there should be [universal] background checks.”

Gun control advocates frequently claim that over 90% of Americans support background checks for private transfers of guns. Yet, the last time such laws were proposed to voters, they rejected them. When Michael Bloomberg got universal background check initiatives onto Maine and Nevada’s ballots, for example, he lost in Maine by four percentage points and won in Nevada by just 0.8 percentage points.

This tough sledding wasn’t for lack of money. In Maine, Bloomberg outspent his opponents by over six times. In Nevada, he spent an incredible $35.30 per vote – three times more than his opponents. If over 90% of Americans supported these laws, this type of spending would be unnecessary.

He blamed the “historic spike in homicides” on the lack of gun control laws.

No sudden change in gun control laws caused last year’s spike in homicides. Instead, the real explanation is simple, and something Biden refused to consider: prisons released a large number of inmates because of COVID-19, politicians ordered police to stand down, police department budgets were cut, and prosecutors refused to prosecute criminals.

>In describing mass public shootings, Biden said that gun violence in this country is an “international embarrassment.”

The president might not follow international news closely, but mass public shootings are much more common and deadly in the rest of the world than they are in the United States. The U.S. contains 4.6% of the world’s population, yet accounts for only 1% of the world’s shooters. Over the last decade, Europe has experienced deadlier mass public shootings than any of those in the U.S. — ever. In November 2015, for example, 130 people were shot to death at a concert in Paris. In July 2011, 67 people were shot to death in Norway. European countries such as France, Finland, Norway, and a number of Eastern European countries have higher per capita death rates from mass public shootings than the United States does. Yet, all of these countries have stricter gun control laws than we do.

These are just a few of the false claims made on Thursday. No, the rules for buying guns at gun shows are no different than buying them anywhere else. And no, when guns are unavailable neither the suicides nor the suicide attempts drop. Unfortunately, the liberal fact-checkers – as usual – are nowhere to be found.

John R. Lott Jr. is the president of the Crime Prevention Research Center and the author most recently of “Gun Control Myths.” Until last month, Lott was the senior adviser for research and statistics at the U.S. Department of Justice’s Office of Legal Policy. He now lives in Montana.

Thomas Massie is a Republican member of the House who has represented Kentucky’s 4th Congressional District since 2012

Underriner Motors has partnered with United Way of Yellowstone County to raffle off a 24- month lease for a 2021 Hyundai Elantra SEL. The winner will be drawn on May 13 at 4 pm. Proceeds generated from raffle ticket sales will go directly to United Way of Yellowstone County’s Community Fund to help improve the health, education and financial stability of every person in Yellowstone County.

“Our raffle partnership is just one example of the enormous impact Underriner Motors generosity has made in Billings. Through the years, the Underriner’s have made a positive difference in so many people’s lives,” said Kim Lewis, President and CEO of United Way of Yellowstone County. 

Raffle tickets are for sale for $25 per ticket or three for $60 and can be purchased at: www.uwyellowstone.org/60bdayblowout, United Way office, Underriner Motors, and select Billings Federal Credit Union locations. There will also be several opportunities to purchase tickets in person leading up to the May 13 drawing, follow the UWYC Facebook page for up-to-date information.

“There’s nothing that feels better than to help people who are truly in need, and to make a major impact on their life, and United Way of Yellowstone County has changed thousands of lives.  We are happy to help them celebrate 60 years of impressive community impact,” said Blake Underriner, Managing Partner of Underriner Motors.

The Drive United car raffle is part of a massive Birthday Blowout celebration planned by United Way.  Other activities include: 60-Minutes volunteer opportunities, a diaper drive in partnership with Family Promise of Yellowstone Valley, collecting 60 pints of blood and an online auction.

Yellowstone Bank  ranked as the top in the country among 2020’s best-performing community banks with less than $3 billion in assets, by S&P Global Market Intelligence. The number one ranking is a 32 spot jump over their 2019 ranking.

S&P Global Market Intelligence reported, “Founded over a century ago, the bank has established itself as an active commercial, agricultural, and real estate lender in Montana with eight brick-and-mortar branches and one facility operating across six different cities. Yellowstone Bank was highly profitable during 2020, yielding a return on average tangible common equity, or ROATCE, of 21.4% while also growing operating revenues to 36.2% year over year.”

This Yellowstone Bank and other community banks accomplished during a most difficult year, underscored S & P Global. “Despite going through a challenging year filled with economic uncertainty, we have seen community banks and credit unions play a significant role in their regional markets, providing support and essential services needed in their local communities. I’m thrilled to see these community banks and credit unions thrive in a challenging time and proud to recognize these top performing local financial institutions in our annual rankings,” said Jimmy Pittenger, Senior Director of Financial Institutions at S&P Global Market Intelligence.

Among larger banks, United National Corp. earned the top spot among the best-performing community banks with assets between $3 billion and $10 billion. This Sioux Falls, S.D.-based bank outperformed the industry median in four of the six ranking metrics analyzed and achieved the highest net interest margin among the top 50 banks in the group at 18.84%.

This year’s top performing credit union designation was awarded to Philadelphia’s Police and Fire Credit Union. The 82-year-old credit union outperformed the industry median in all five ranking metrics. In addition, the credit union saw an 11.6% increase in member growth year over year while its delinquency ratio fell to 0.18%, down 13 basis points from year-ago levels.

The proposed tax increases in the Biden administration’s infrastructure plan could lead to 1 million fewer jobs in the first two years, according to a study conducted by Rice University economists for the National Association of Manufacturers. Economists calculated the effects of increasing the corporate tax rate to 28%, increasing the top marginal tax rate, repealing the 20% pass-through deduction, and eliminating certain expensing provisions would cause large negative effects for the economy. The worst of these would include:

* 1 million jobs lost in the first two years;

* By 2023, GDP would be down by $117 billion, by $190 billion in 2026 and by $119 billion in 2031; and

* Ordinary capital, or investments in equipment and structures, would be $80 billion less in 2023 and $83 billion and $66 billion less in 2026 and 2031, respectively.

The study also notes the following:

* Investments in intangibles, or “firm-specific capital,” are highly mobile and more sensitive to marginal tax rate changes. Such investments would fall 2.7% by year two and would be down a total of 3.8% by year five.

* The average annual reduction in employment would be equivalent to a loss of 600,000 jobs each year over 10 years.

* Real wages would fall by 0.6% in the long run, and total labor compensation, including wages and benefits, would decline by 0.6% initially before falling by 0.3% after 10 years. In the long run, total compensation would also decline by 0.6%.

S&P Global Market Intelligence has released its annual rankings of 2020’s top-performing community banks. Stockman Bank was once again ranked in America’s top 50 performing community banks with assets between $3 billion and $10 billion, moving up from last year’s rankings.

 “We are again honored to be recognized nationally for exemplary financial performance, sound practices and focused management,” stated Bill Coffee, Stockman Bank CEO. “During 2020, clearly a challenging year in many ways, our team adapted on a moment’s notice, finding new ways to serve our customers and communities without compromising excellence. I am proud of their flexibility and dedication. We have the best team in our 68-year history.”

To compile these ranking, S&P Global Market Intelligence calculated scores for each bank based on six metrics, including return, growth and credit quality. S&P Global is the world’s foremost provider of credit ratings, benchmarks and analytics in the global capital and commodity markets.

Dick Anderson Construction announced that Nolan Smith has been promoted to the position of Project Manager within the Billings location. 

Nolan joined DAC Billings in June 2018 and has been our Project Engineer on Northwest Pipe Fittings, Denny Menholt Nissan, Crowley Fleck renovations and will now be our Project Manager for the Laurel Fairfield Inn and Suites project underway this April.  He is noted as a very dedicated and  hard worker and is a great contribution to the Dick Anderson Construction team.