"Good morning. I was talking to a CEO by phone yesterday about the potential business impact of a government shutdown when the news broke that the White House is withholding $18 billion in federal infrastructure funds to New York City. "Whoa! Look at this," he said, reading out allegations that the city has "discriminatory, unconstitutional" contracting processes. "If you work with the government, that could be more significant.""
"While roughly three-quarters of federal employees are classified as "essential" workers who must stay on the job, some may stop showing up if they're not paid. As another CEO pointed out yesterday, a raft of no-show TSA workers can make for annoying security lines but a dozen "sick" air traffic controllers can seriously disrupt air travel."
"While CEOs are keeping an eye on the economic impact of a shutdown, they have to stay focused on growing their business, recruiting top talent and leveraging or developing breakthrough technologies in areas from clean energy to AI. That's why gatherings like the Fortune Global Forum in Riyadh on the 26 th and 27 th of this month are so importa"
The White House withheld $18 billion in federal infrastructure funds to New York City amid allegations of discriminatory and unconstitutional contracting processes. A shutdown's impact will depend on its duration and the behavior of affected workers and agencies. Approximately three-quarters of federal employees are designated essential, but unpaid staff may not report to work, risking service and travel disruptions. Prior funding cuts and policy shifts have already strained education grants and public health programs. Investors reacted negatively even as markets rose. CEOs plan to monitor developments but remain focused on business growth, recruiting, and adopting breakthrough technologies.
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