(Cherry Hill, NJ) The results of Alloy Silverstein Group’s quarterly survey of New Jersey and Philadelphia CEOs and CFOs, have been announced, revealing their thoughts on government leadership, the state of our economy, and their stance on the potential Rutgers–Camden and Rowan University merger plans.
In a three-month period, the percentage of executives that felt the local economy was improving slipped from 20% to 9%, while those that felt their company was improving went from 30% down to 16%. Their concerns for the remainder of 2012 are less on gas prices (11%) and more on watching consumer spending and sales volume (62%).
Discontent is observable among the different levels of government as 87% indicate low level of satisfaction with the national government, while only 49% said low for state and 45% for local governments.
“We had a brief glimpse at optimism earlier in the year, but the many negative reports have belittled it,” says Ren Cicalese, managing shareholder of Alloy. “With such a dramatic difference between state and national government, the national leaders should take a look at what New Jersey and Pennsylvania leaders are doing to earn such a better rate of satisfaction with its businesses.”
Additional findings include:
- A quarter of respondents perceive the local economy to be declining.
- 25% of NJ and PA CEOs and CFOs do not support Governor Christie’s proposed Rutgers-Camden and Rowan University merger. Most indicated they were indifferent (28%) while 21% support the plan.
- Despite continued concern on employment numbers, the figures of 33% of CEOs and CFOs to be hiring and 51% not, remain virtually unchanged from last quarter’s survey.
- Comments from several respondents included concerns about the lack of direction from our political leaders, too restrictive small business regulations, and the impact of healthcare reform on businesses, as well as remarking that we are in a state of ‘limbo.’
Respondents continued to significantly name jobs as the most important national (56%) and local (63%) issue, an indication that the struggling economy will be the top issue for business leaders as they focus on the Presidential election and head to the polls later this year.
82 responses were received from over 1,400 surveys sent to CEOs of local businesses and to CFOs headquartered in New Jersey and Philadelphia with over 1,000 employees. Statistics are percentages based on the number of respondents.
Alloy, Silverstein, Shapiro, Adams, Mulford, Cicalese, Wilson & Co. provides a wide range of services including accounting, auditing, tax planning and preparation, management consulting, financial and estate planning, business valuations, litigation support, Eldercare, payroll processing, and information technology consulting.
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