August Revenue Figures Fall below Targets

first_imgVentriss also cautioned against a direct comparison between 2006 and 2008based only on this data.  “These aredifferent times.  This is adifferent economy.  Some of the CEOmembers of the Roundtable have even changed,” she said.  “The long-term value of this survey isthat it establishes a new benchmark for gauging the views of the businesscommunity in the future.” “We have to be careful in making too many comparisons, because of the gapin the data,” he said, “but these numbers confirm what we are hearing andseeing.  Unemployment in Vermont isup by one percent over last year, and those numbers are reflected in the 60percent of employers who predict level or declining employment in the periodjust ahead.” BusinessRoundtable Releases Third Quarter CEOSurvey FOR IMMEDIATERELEASE:  Sept. 11,2008 CONTACT:  Lisa Ventriss, President, VermontBusiness Roundtable, 802-865-0410; Tim Volk, Chair, Vermont Business Roundtable,802-862-8261. Considering capital investments, 38 percent of the CEOs responding saidthey plan to increase capital spending. That sets an all-time low when measured against expectations over thefive year history of the survey, which have ranged from a low of 40 percent inthe third quarter of 2006 to a high of 62 percent in March of 2004. When thosepredicting “no change” are included, however, again, Vermont’s outlook improved.Ninety percent of respondents predicted that capital spending would stay thesame or get better in the next six months, versus 95 percent in2006. Chairman Volk, who is president of the Burlington-based marketing firmKelliher Samets Volk, says the results of the CEO survey reflect the realitiesof the marketplace.  “Clearly the expectations of the business community for robust economicactivity have fallen since our last survey in late 2006,” Ventriss said.  “These expectations seem to mirror thenationwide economic slowdown and gloomy predictions for the New Englandeconomy.” The Roundtable’s third quarter ’08 membership survey showed greaterpessimism today against CEO expectations in the fourth quarter of 2006, when thelast survey was conducted.  In 2006,73 percent of responding CEOs expected sales to increase in the first half of2007.  In August, 2008, when thelatest survey was conducted, only 50 percent expected increased sales in thesix-month period ahead.  When thosepredicting “no change” are included however, Vermont’s economy faredbetter.  Eighty-six percent ofrespondents thought sales would stay the same or get better in the next sixmonths versus 96 percent in 2006.  The Roundtable’s CEO Economic Outlook Survey measures the attitudes ofchief executive officers for 120 of the state’s top employers.  Vermont’s construction, education,health services, finance, real estate, insurance, hospitality/leisure,manufacturing, information, transportation, utilities, professional/businessservices and non-profit industries are represented.  The response rate for this quarter was63 percent.  Historically, rateshave varied from 40 to 73 percent. 1. How do you expect your company’s sales to change inthe next six months? (So. Burlington, Vt.)  Thechief executives of Vermont’s leading businesses are cautious about salesprospects for the fall and winter, but they continue to invest in the state’seconomy hoping for the business climate to improve.  The mood of the business community wasassessed in the middle of the third quarter and released today by VermontBusiness Roundtable Chairman Tim Volk and President LisaVentriss. Although the 2008 third quarter survey showed that eighty-two percent ofCEOs expect their employment levels to stay the same or increase, the 18 percentpredicting a decrease in employment is the largest group since the surveys beganin 2004.  If additional job lossescome to pass, employment in Vermont would mirror the national trend.  On Sept. 5 the U.S. Department of Laborreported that unemployment nationwide has reached 6.1 percent.  In July, the Vermont Department of Laborpegged Vermont’s unemployment rate at 4.8 percent, a one point increase from ayear ago.  The Roundtable’s survey,however, neither predicts nor enumerates the number or quality of the jobsexpected to be lost in the time ahead.  Sales INCREASE NO CHANGE DECREASE Q1 2004 83% 13% 4% Q2 2004 80% 15% 4% Q3 2004 71% 25% 4% Q4 2004 77% 22% 1% Q1 2005 78% 19% 3% Q2 2005 75% 23% 2% Q3 2005 74% 24% 2% Q4 2005 72% 24% 4% Q1 2006 78% 20% 2% Q2 2006 78% 22% 0% Q3 2006 69% 25% 6% Q4 2006 73% 23% 4% Q3 2008 51% 35% 14%Totals may not equal 100 due torounding.last_img read more

Turning the worst part of the borrowing experience into the best

first_img 50SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblr Contributed post by: CUneXus SolutionsDoes anyone like applying for a loan? Not likely, according to recent studies. The results of the latest survey from carfinance.com naming the worst part of buying a new car may not surprise most people. Haggling over price, of course. The second worst part of the car buying experience? Getting a loan. Is anyone surprised?The turn offs to applying for a loan are many. When it comes to cars, to get a loan from the dealer, buyers have to spend more time with the outfit that just delivered the worst part of their car buying experience. But even that may be more attractive than a trip to the bank or credit union, where paper work and waiting for results can both be daunting. Other studies suggest that when it comes to loan applications, many people don’t apply because they are simply afraid to look at their credit score.While boomers are more patient with the traditional car buying experience, the millennial generation expects more. Most of their shopping and purchasing has been made extremely personalized, convenient and mobile—in the language of marketing, delightful. continue reading »last_img read more

Median house values in Cairns hold despite drop in Townsville market

first_imgWhile the number of days Cairns properties are staying on the market has increased, Yvonne and James Gardner have bucked the trend, signing a contact on the sale of their Mooroobool home within a week of listing it. Picture: Marc McCormackTOURISM growth has likely contributed to a slight rise in Cairns property values over the past year, while the nearby Townsville market has experienced a decline.CoreLogic’s latest quarterly Regional Market Update report shows median house values in Cairns were up 0.9 per cent over the year to December 2016, while Townsville house values dropped 3.2 per cent. CoreLogic head researcher Cameron Kusher said that, despite the moderate increase in values, “effectively there has been no growth in the market over the last 12 months”. “The tourism sector is improving but I still don’t think there is enough confidence in that Cairns region for people to want to start moving there,” he said. He attributed the decline in Townsville house values to the market being more closely linked to mining and resources, whereas Cairns relied more on the “tourism and retirement” sectors.Unit values remained unchanged in Cairns, while Townsville unit values dropped by 3.8 per cent. More from newsCairns home ticks popular internet search terms3 days agoTen auction results from ‘active’ weekend in Cairns3 days agoMr Kusher said the general affordability of Cairns property across the board could have contributed to unit prices remaining steady.“(If) you look at Cairns, there is not a massive difference between the cost of a unit and the cost of a house and they are both reasonably ­affordable,” he said. “So it is probably a case of the people (who) are looking in that market are looking at a piece of land with a house on it, rather than the unit stock, which is more kind of holiday houses.”CORELOGIC REGIONAL UPDATE FIGURES ● 3551 houses and 1803 units sold in Cairns over the year to November, 6.1% lower than the previous year. ● Rental rates were unchanged at $380pw for houses and $290pw for units. ● Houses were offering rental returns of 5.4%, compared to an indicative rental yield of 7.4% for units ● The number of days Cairns properties stay on the market has risen by 15 days, to 96, for houses and up nine days, to 102, for units.last_img read more