IB partnered with Chamberlain Research Consultants (CRC) to poll a pre-selected group of 100 companies. Chamberlain researcher Tony Trout structures the questionnaire, summarizes the data, and created a Web site so participating company presidents can receive “live” data. President Sharon Chamberlain has made her staff available to us to provide the business community with new tools, and we thank CRC for its ongoing contributions to this project.
The IB100 group includes cross-industry, business-to-business, and business-to-consumer entities, and a few significant nonprofits. The first [monthly] polling was done in June 2009. This latest poll was conducted in mid-February 2010.
Also posted are comments by participating company executives, who supply the info through a password-protected system, giving you a window into their challenges and emerging solutions.
The IB 100 — your source for real perspectives and first-source data.
IB Asks:
Commentary from our Participants:
The mood isn’t showing much of an uptick:
Hi-tech Company: The economy is not recovering as fast as people had hoped. There is still a great amount of conservatism and caution, which appears to be justified.
Technical College: We aren’t out of the woods yet. The U.S. economy, high unemployment and concern about the federal deficit are at the top of the list of voter issues. For Madison, our unemployment percentages are not as drastic but continue to have an impact. While the recession may be subsiding, job growth will remain a high priority for the next several years.
Large Wholesaler: Government stimulus spending does little to help most businesses; it only helps a targeted few and sometimes only in targeted areas. Since most businesses rely on consumer spending (70% of the economy) we need to get more confidence, and more money (via tax cuts, or at least no tax increases) into the hands of consumers. Although 90% of households are still employed and they have money to spend, they are reluctant to make major purchases due to the uncertainty of the future. They see both federal and state governments spending recklessly beyond their revenues, and they know that ultimately we (the American public) will have to pay the price. This scares them.
Title Company: I do not believe the first time home buyer tax credit will be extended. I do believe the $6,500 tax credit will be extended to help the undecided buyers.
Biotech firm: Better than last year and better source of quality employees; yet finding customers is still a challenge — and getting them to pay as well.
Retail/Jewelry: I am optimistic for 2010 but will continue to be very conservative for the foreseeable future. I am very concerned that the Obama administration has not been able to deliver health care reform. The out-of-control cost of health care and pharmaceuticals means consumers have fewer discretionary dollars to spend in any other sector. And the psychological effect of the current situation is huge.
Design/Build Firm: Project leads continue to come in but the sales process remains slow — both by business nature and by economic situation.
Manufacturer: Until we get more people back to work, and not necessarily in union jobs, the economy will suffer. All costs are rising, including health care and health insurance. We need more workers in full-time jobs with benefits.
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