The CEO of Little Rock-based Stephens Inc., made a rare national media appearance this morning on CNBC. Roby Brock reports on his remarks. The market still faces “head winds”; consumers are still under pressure; businesses are making ends meet by cutting costs, not by increasing sales.
“People have got to have some income to spend,” he added. “And what we’re seeing with our clients and with our private equity investments, there’s still a lot of people looking at making layoffs this year and certainly not hiring anybody. Then you factor in the furlough situation, if you will, where people are just not working as many hours as they were. It’s going to be awhile before we see some topline growth in a lot of our clients’ businesses and in the businesses that we’re investors in.”