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Semper Survey Q2 Results

May 1, 2009

Semper Survey Q2 Results:

I believe those that have survived thus far have sighed in relief, but it is clear we have some tough times ahead- so much for an Obama Bounce! It would seem contrary to the March statements from the politicos about things getting better, most of us have not seen anything of the sort. In fact, we would estimate 15% or more of establishments in existence January 08 are no longer around. Even the very solid, well-run companies are experiencing severe financial issues. The longer this “contraction” lasts the more harm it is causing. The plus side is those that survive will enjoy a much less competitive market. The first draft of the GDP numbers came out indicating the contraction was 6.2 in the first quarter. The second and third drafts will likely show that is a conservative number; even with the two week busy period many indicate happened in January. An area I would like to look at in this summary is the question that looks at your concerns. The answers to this area have changed so significantly over the last two years and even in the last few quarters. The largest area of concern is now the OTHER area. Upon investigation, OTHER is not several types of concerns but rather the need for a new category to be added – The economy. Ninety percent of the respondents who chose OTHER to question 8 indicate the current economic contraction is their primary concern. Looking back over the last four surveys this constituency has been i ncreasing to the point we will now add a new category “Economy” to this area. As you can imagine the shift from profitable to unprofitable was rather striking and the most severe since we started the survey. 52% say they were profitable this past quarter and 47 % indicate they lost monies- a huge shift. The question regarding business the last two weeks seems to indicate some improvement with 38% indicating some improvement and 42% staying the same. We noticed a 2 and a half week increase starting early April but a fall off as the month ended (hopefully short term). The full-time hiring situation still seems tough with the vast majority staying the same or laying off. We have been privy to many different and creative types of hiring arrangements being used: furloughs, reduced work weeks, reduced pay rates, using the unemployment office’s Work Share program and utilizing Flex staffers after heavy lay offs. We have enclosed the entire Survey results below; if you have questions or would like to see additional areas explored please let me know.

View Survey Results: CLICK HERE

Dave Regan CEO

Thank You

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