|Click here to download pictures from the breakfast |
on the Chamber's online photo album.
Sovereign Bank's Steve Andrews, senior vice president, global banking & markets, opened the breakfast with a presentation on key economic indicators, including employment trends, consumer confidence, and home prices. Click here to download the PowerPoint presentation.
New this year was a live, interactive audience survey on the state of the economy, led by Sovereign Bank's Larry Delp, EVP/director, corporate banking middle marketing. Through this survey, we are able to gain perspective on the state of the economy. View the results of this survey below.
Survey Questions – 2011 Economic Outlook Breakfast
1. Which best describes your position in your company?
Principal owner or partner 21% President/CEO 10% Senior management 33% Middle management 19% Line/staff 18%
2. Thinking about the U.S. overall, over the next 12 months how do you think the economy will be in comparison to today?
Much better shape 6% Somewhat better shape 61% About the same 27% Somewhat worse shape 6% Much worse shape 0%
3. Thinking only about Greater Boston, over the next 12 months how do you think the economy will be in comparison to today?
Much better shape 9% Somewhat better shape 60% About the same 29% Somewhat worse shape 2% Much worse shape 1%
4. Thinking only about your business, over the next 12 months how do you think your business will be in comparison to today?
Much better shape 26% Somewhat better shape 42% About the same 29% Somewhat worse shape 3% Much worse shape 0%
5. What do you think are the top challenges facing this region? Please select up to three.
Availability of skilled labor 5% Corporate and personal taxes 6% Quality of public education 6% Overall cost of living 20% Crime/corruption 1% Transportation/infrastructure 7% Cost of health care 19% Cost of fuel & energy 13% Real estate prices/market 10% Job creation/employment outlook 14%
6. Thinking about your business, what are the most challenging issues you expect to face in the next two years? Please select up to three.
Obtaining credit 5% Attracting new customers 30% Retaining existing customers 18% New and costly government regulations 7% Hiring qualified employees 9% Pressure from larger competitors 12% Higher taxes 4% Cost of health insurance/other employee benefits 15%
7. Which of the following best describes your hiring plan for this region in 2011?
Significant increase 6% Slight increase 54% No change 36% Slight decrease 4% Significant decrease 0%
8. Which of the following best describes your business’s spending plan in 2011?
Significant increase 6% Slight increase 52% No change 31% Slight decrease 10% Significant decrease 0%
9. What do you think are the best ways for our region to retain talent?
Strengthen K-12 Education 19% Strengthen public colleges and universities 12% Connect area universities to companies 54% Promote Boston to area university students 15%
10. Which areas of our transportation infrastructure need the most improvement?
Highways and roads 41% Public Transportations (MBTA) 37% Airport 0% Rail (Commuter Rail) 21% Cargo 1%