LOS ANGELES, CA, October 30, 2010 (Press-News.org) In a survey of California CFOs and senior comptrollers conducted by Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd, only 28% plan to increase hiring in the next six months, while 20% plan to decrease hiring.
More than three-quarters of California CFOs (77%) believe that the U.S. economy will not recover until the second half of 2011 or later, and more than half (60%) are concerned with a double-dip recession. The national findings are in line with the California findings, see results below.
"These findings are consistent with what we have been hearing from our dynamic-organization clients throughout California," said Grant Thornton LLP Southern California Managing Partner Joel Anik. "Indecision stemming from a weak economy and the unknown impact of governmental tax policy and new regulation on California businesses and individuals is causing paralysis, particularly as it relates to major business decisions, including expansion, expenditures and hiring."
The key findings include:
• Much less optimism about U.S. economy over next six months
26% of California CFOs expect improvement, compared to 30% nationally.
• More optimism for their own businesses than U.S. economy
49% of California CFOs expect improvement, compared to 46% nationally.
• Inflation creeping in
While 60% of California CFOs expect no increase in prices over next six months, 28% expect their prices to increase.
• No economic recovery until second half of 2011 at the earliest
49% of California CFOs do not expect economic recovery until after 2011, while another 28% say recovery won't happen until the second half of 2011.
Over the next six months, do you expect the U.S. economy to:*
National
Improve 30%
Remain the same 56%
Get worse 14%
California
Improve 26%
Remain the same 57%
Get worse 17%
Over the next six months, do you expect your company's financial prospects to:*
National
Improve 46%
Remain the same 45%
Get worse 9%
California
Improve 49%
Remain the same 38%
Get worse 13%
Over the next six months, do you expect prices or fees charged by your company to:*
National
Increase 31%
Remain the same 62%
Decrease 7%
California
Increase 28%
Remain the same 60%
Decrease 13%
Over the next six months, do you expect your headcount to:*
National
Increase 29%
Remain the same 51%
Decrease 21%
California
Increase 28%
Remain the same 52%
Decrease 20%
Are you concerned about a double-dip recession?*
National
Yes - 59%
No - 41%
California
Yes - 60%
No - 40%
When do you believe the U.S. economy will recover?*
National
Second half of 2010 - 3%
First half of 2011 - 18%
Second half of 2011 - 37%
Later than 2011 - 42%
California
Second half of 2010 - 4%
First half of 2011 - 19%
Second half of 2011 - 28%
Later than 2011 - 49%
The best way to create jobs is:*
National
Cut corporate tax rate - 35%
Cut personal income tax rates - 29%
Government stimulus programs - 9%
R&D credits - 6%
Tax credit for new hires - 22%
California
Cut corporate tax rate - 43%
Cut personal income tax rates - 28%
Government stimulus programs - 11%
R&D credits - 9%
Tax credit for new hires -11%
* Percentages may not total 100 due to rounding.
About the survey
Grant Thornton LLP conducted the biannual national survey from Oct. 5 through Oct. 15, 2010, with 516 U.S. CFOs and senior comptrollers participating. In California, 47 private and public companies participated in the survey.
About Grant Thornton LLP
The people in the independent firms of Grant Thornton International Ltd provide personalized attention and the highest quality service to public and private clients in more than 100 countries. Grant Thornton LLP is the U.S. member firm of Grant Thornton International Ltd, one of the six global audit, tax and advisory organizations. Grant Thornton International Ltd and its member firms are not a worldwide partnership, as each member firm is a separate and distinct legal entity.
In the U.S., visit Grant Thornton LLP at http://www.GrantThornton.com.
Grant Thornton CFO Survey Finds California's Weak Job Market To Continue 71% California CFOs say cutting corporate and individual taxes would create jobs
In a recent survey conducted by Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd., found that California CFOs and senior comptrollers plan to increase hiring by 28% in the next six months, while 20% plan to decrease.
2010-10-30
ELSE PRESS RELEASES FROM THIS DATE:
Recall Sponsors Georgia CIO of the Year Awards
2010-10-30
Recall, a leader in document storage, secure data destruction and data protection, announces it will sponsor the Georgia CIO of the Year Awards.
This award recognizes technology executives based on achievement and is put together by the Georgia CIO Leadership Association (GCLA). This program delivers a high level of interaction between CIO members and executives of various organizations. The annual program provides the ability for growing local business to foster relationships while also increasing the exchange of relevant information about technology trends.
"It is a ...
JunoWallet Adds Sharing and Social Gifting to JunoPoints and Foursquare Check-Ins
2010-10-30
JunoWallet, the nation's #1 promotional gift card application available to iPhone and Android users, has taken another leap forward by introducing "Social Gifting" to its industry leading mobile gift card platform. Last week JunoWallet announced it had launched the JunoPoints loyalty program, through which JunoWallet users can earn 20 JunoPoints or more every time they check into a Foursquare merchant (retailer, restaurant, and so forth) who has "GoneLive" with the JunoPoints program. When a user accumulates 10,000 JunoPoints at that specific "Live" merchant, they earn ...
BKD Technologies Webinar Series: Comparing BizInsights to Sage MAS Intelligence
2010-10-30
BKD Technologies is pleased to present an educational webinar to compare BizInsights to Sage MAS Intelligence. BKD will provide details of each business intelligence tool's features and functionality, including filtering, data gathering and the ability to select report content for your business.
Chris Diltz, BKD senior consultant, will conduct this presentation. He has more than 14 years of experience in implementing and supporting software systems. Chris holds certifications from Sage Software in MAS 90 and MAS 500 system configuration and installation.
BKD will ...
MPLS VPN a Smart Solution for Multi Location Businesses
2010-10-30
ECTtelecom, a leading telecommunications provider, has begun promoting and educating their clients regarding the benefits of Multi-Protocol Label Switching (MPLS). MPLS may not be a household term, but it is the fastest growing wide area networking (WAN) technology and is widely used by leading carriers around the world.
As ECTtelecom president Kenny Wilder explains, "MPLS blends the performance and privacy of legacy WAN technologies (like frame relay) with the flexibility and cost advantages of internet-based networks, such as IPSec VPNs." Kenny explains that traditionally, ...
The Gaelic Letters Wins Royal Palm Literary Award
2010-10-30
The Florida Writer's Association announced that "The Gaelic Letters" has won second place in the Thriller/Suspense category of the prestigious Royal Palm Literary Awards. "The Gaelic Letters" is the debut novel by R. Thomas Roe who draws upon his background in family history research and the legal profession to weave an intense story of intrigue as the main character travels to Ireland to unravel a family mystery. Mr. Roe stated that he was honored to receive the Royal Palm Literary award from the Florida Writer's Association and appreciates all the great comments he has ...
TeamViewer offers innovative remote software to Canadian users
2010-10-30
TeamViewer GmbH, a leading provider of solutions for online communication and collaboration, offers innovative remote access and presentation software. With over 100 million installations worldwide, and a free version for non-commercial use, the internationally acclaimed software company is focusing on the Canadian market.
TeamViewer has had a milestone year, adding a number of new features to their already successful software. Making remote access even more flexible, TeamViewer recently released Apps for the iPhone and iPad. The popular applications connect from the ...
Hugo E. Slepoy's "Originals" at Queen Gallery
2010-10-30
Queen Gallery proudly presents Hugo E. SlepoyâEUR s solo exhibition entitled âEUR˜OriginalsâEUR . Twenty-five of HugoâEUR s highly-detailed, original drawings will be on exhibit from Thursday, October 28, 2010 until Tuesday, November 9, 2010. Everyone is invited to attend the opening reception which will be Thursday, October 29, 2010 from 6-9 pm.
Hugo E. Slepoy graduated from the University of Buenos Aires, in Architecture in 1972 and in Urban and Regional Planning in 1980. HeâEUR s an accomplished designer, illustrator and artist, and his work has been recognized by ...
With the job market improving, author and career expert Dr. Carrell Chadwell advises job seekers to plan ahead
2010-10-30
Unemployment figures released last week by the Department of Labor are encouraging, says psychologist and career expert Carrell Chadwell. They show a drop in unemployment in September in 23 states.
"Many people have stayed in jobs they don't like, because of fear they will not be able to find anything better," said Chadwell, author of the new book, "Changing Careers in a Changing World" "Even if the unemployment picture still isn't rosy, there are signs that the job market is improving. Now is the time to start taking the steps to securing the job you really want to ...
Tips to Care for Storm-Damaged Trees from IAA
2010-10-30
This week, much of Illinois experienced several days of wind not seen for a generation. The trail of destruction across the state included thousands of trees either severely damaged or at least impacted by Mother Nature. Unprotected, trees that are damaged may appear to have fatal wounds. However, though major branches may be broken, or the bark may be torn and gouged, trees have an amazing ability to recover from even the most severe cases.
First aid for damaged trees after a major storm can help trees recover, urges the Illinois Arborist Association (IAA), the local ...
David Edmisten, President of justopenthebook.com, has become the Atlanta Liberal Christian Examiner for Examiner.com
2010-10-30
We are pleased to announce that David Edmisten, President of justopenthebook.com, has become the Atlanta Liberal Christian Examiner for Examiner.com!
Examiner.com is one of the fastest-growing local content networks in the U.S., powered by the largest pool of knowledgeable and passionate contributors in the world. Launched in April 2008 with 60 cities, Examiner.com now serves 234 U.S. markets and 6 Canadian markets. Examiner.com connects consumers with a premium blend of news and information from the best local sources. Examiner.com offers content on a wide variety ...
LAST 30 PRESS RELEASES:
Drinking plenty of water may actually be good for you
Men at high risk of cardiovascular disease face brain health decline 10 years earlier than women
Irregular sleep-wake cycle linked to heightened risk of major cardiovascular events
Depression can cause period pain, new study suggests
Wistar Institute scientists identify important factor in neural development
New imaging platform developed by Rice researchers revolutionizes 3D visualization of cellular structures
To catch financial rats, a better mousetrap
Mapping the world's climate danger zones
Emory heart team implants new blood-pumping device for first time in U.S.
Congenital heart defects caused by problems with placenta
Schlechter named Cancer Moonshot Scholar
Two-way water transfers can ensure reliability, save money for urban and agricultural users during drought in Western U.S., new study shows
New issue of advances in dental research explores the role of women in dental, clinical, and translational research
Team unlocks new insights on pulsar signals
Great apes visually track subject-object relationships like humans do
Recovery of testing for heart disease risk factors post-COVID remains patchy
Final data and undiscovered images from NASA’s NEOWISE
Nucleoporin93: A silent protector in vascular health
Can we avert the looming food crisis of climate change?
Alcohol use and antiobesity medication treatment
Study reveals cause of common cancer immunotherapy side effect
New era in amphibian biology
Harbor service, VAST Data provide boost for NCSA systems
New prognostic model enhances survival prediction in liver failure
China focuses on improving air quality via the coordinated control of fine particles and ozone
Machine learning reveals behaviors linked with early Alzheimer’s, points to new treatments
Novel gene therapy trial for sickle cell disease launches
Engineering hypoallergenic cats
Microwave-induced pyrolysis: A promising solution for recycling electric cables
Cooling with light: Exploring optical cooling in semiconductor quantum dots
[Press-News.org] Grant Thornton CFO Survey Finds California's Weak Job Market To Continue 71% California CFOs say cutting corporate and individual taxes would create jobsIn a recent survey conducted by Grant Thornton LLP, the U.S. member firm of Grant Thornton International Ltd., found that California CFOs and senior comptrollers plan to increase hiring by 28% in the next six months, while 20% plan to decrease.