Survey: Few CFOs upbeat about economy
Tampa Bay Business Journal
When it comes to the economy, few Florida business leaders are bullish on its future.
A newly released survey by Grant Thornton LLP found 45 percent believe the U.S. economy will get worse in the next six months. Just 21 percent expect it to improve, while 34 percent think it will remain the same.
The survey of 37 CFOs and senior comptrollers from public and private companies with headquarters in Florida, found 34 percent saying their company will raise prices in the next six months, but 58 percent expect they will remain the same.
Fifty-three percent said they have seen credit costs increase, and 74 percent say credit is more difficult to come by than it was a year ago.
There may be more job cuts coming, as the survey found 26 percent expect their company’s headcount to drop in the next six months. Forty-two percent expect it to remain the same, and 32 percent expect it will increase.
Among other findings:
- 42 percent are most concerned about employee benefits.
- 13 percent have had to return to bank credit because they could not access alternative financing structures.
- 77 percent felt shareholders should be given greater access to the proxy in order for them to nominate directors more easily, while 91 percent felt shareholders should be able to access the proxy online.
- 71 percent felt the average CEO was overpaid, when considering total pay and benefits. However, when it came to their own company, 60 percent felt that their CEO was being paid appropriately.
The poll was conducted Sept. 8-19.
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