If hearing the words “subprime loan” immediately triggers anxious memories of 2008’s global financial crisis, you’re not alone. As present-day Wall Street starts to rumble with worry about subprime auto loans, no one could blame you for having a 2008 flashback.

Bankruptcies last month at subprime auto lender Tricolor and auto parts supplier First Brands, both of which relied on complicated loan systems, have triggered concerns on Wall Street about potentially overlooked cracks in the credit market.

The deeper issue with these bankruptcies is they suggest that for lower-income consumers, wages are languishing amid a seemingly stagnant job market, making it increasingly difficult to make auto loan payments, as car prices also rise.

“Distress in auto lending broadly is often seen as a bellwether to changing circumstances in the US economy, because Americans particularly in the lower-income brackets tend to put their highest priority in auto payments,” Brett House, an economics professor at Columbia Business School, told the Guardian.

It’s too soon to say exactly how 2008-ish this might be. Small cracks can become big problems.

In recent earnings calls, executives at big banks and financial service firms largely took a measured, diplomatic response to the auto-adjacent bankruptcies, downplaying fears about more systemic stress in the credit market.

Keep reading to see what one CEO said he shouldn’t say.—NP

Now that it’s officially pumpkin spice season, the urge to start looking toward 2026 is kicking in.

But as with any forecast, we’ve got to start with the current mood before we jump into next year.

Vibe check. The October Deloitte CFO Signals survey showed that CFOs were slightly more optimistic in Q3, the second quarter in a row when sentiment rose.

The confidence in current and future business conditions rose from 5.4 in Q2 to 5.7, “solidly in medium territory,” but just one in five respondents to the survey described the country’s economy as in good shape, and 8% thought it was bad or very bad.

“I think there continues to be a lot of uncertainty emanating from a lot of different spheres, whether it be policy, geopolitics, or capital markets,” Steve Gallucci, Deloitte global and US CFO program leader, told CFO Brew. “CFOs have become adept at managing through uncertainty. So that’s not anything new.”

However, even though CFOs were less than enthused about the current macroeconomic climate, many remained bullish on their own companies.

Keep reading for more of the glass-half-full perspective.—JK

Coworking is a recurring segment where we talk with CFOs and other leaders in the finance space about their experiences, their companies, and the larger economy. Let us know if you are—or you know—a CFO we should interview.

The CFO job can be a stressful one. Being responsible for risk, and the financial health of the company, and navigating it during an uncertain or volatile time can be a burden.

John DeSimone has been at Herbalife for many years and has held the CFO role twice during his tenure. He shared with CFO Brew how he learned to disconnect, and how being a veteran at the company affects his role within it.

You’ve been at Herbalife since 2007. How has being at the company for so long impacted your role as CFO?

It gives me more credibility within the organization, and therefore more implied authority than maybe a new CFO would have because of my experience. I think it’s pretty recognized in the organization that I understand the company, that I’ve seen a lot, and that experience builds credibility within the organization, and so it just makes my job a little easier.

Are there any downsides?

I had to disconnect emotionally from the result of the work we were doing. The CFO of a public company can be a high-anxiety type of job that I had to learn not to take that home. And so I wish I had learned it much younger.

Do you have any advice for CFOs on how to disconnect?

I was emotionally tied to it. I was doing the best I can. I had a great team. But then, if things didn’t work out exactly right, I took that as a failure, and it was personal. I had to personally disconnect, emotionally disconnect, from that outcome, knowing you do the best job that you can, you build the best team you can, you communicate the best you can, but there are things outside of your control.

Keep reading here.—JK

If your data’s solid but your culture’s shaky, the numbers won’t save you. Join CFO Brew on Oct. 29 to explore how finance leaders are building trust, buy-in, and better decision-making across teams—because spreadsheets don’t change minds, people do. Register now.

Think of our little crosswords like espresso shots: They go down quick and give you a lift. Test your wits with our Brew Mini crosswords, designed to sharpen your mind in five minutes or less.

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