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2nd Quarter Industry Insight Survey 2013

April 22, 2013

2nd Quarter Industry Insight Survey 2013

What a year so far.

As many of you know, our offices are located in Copley Square immediately adjacent to the first bomb of the Boston Marathon. At the time I write this, the offices are a crime scene and we are not allowed access. The outpouring of concern from you has been heartening. For current information our Facebook page is best.

Yes, these are very tough times. We are doing everything we can to help our people and local community recover. One way you can help is to give even a small donation to this fund We have. The fund was set up by the Mayor of Boston and the Governor of Massachusetts.

A few words about our results and the current economic environment.

Last survey we had the election results and fiscal cliff. This survey we have sequester, payroll tax increases, commodity crash and terrorist attacks.

The recent economic news has been, for the most part, negative (not unexpectedly considering the headlines). The disconnect between Main street and Wall street has never been more apparent.
We expect the GDP numbers due out to reflect a sharp contraction. Our survey respondents, when asked about quarter one profitability, indicated the largest quarter to quarter contraction in the history of the survey. We are also very concerned about the current high level of unemployment taxes levied on businesses and the negative impact it is having on hiring. Hiring is the keystone of any recovery. If people do not have funds to spend, everyone’s business suffers.

I think every business person has similar concerns right now: How long will things be slow or contracted? How can we get regulations reduced? How do we reduce the extra expenses coming at us from every angle? On top of all these issues, is the looming Obamacare implementation concern. Based on the survey results concerning Obamacare it appears that confusion reigns supreme.

Let’s get to the survey and see what else we can find out.

Dave Regan
CEO Semper

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