Friday AM April 17th, 2009

A recent survey of executives finds the percentage who believe the economy is recovering has nearly doubled. Ed Mayberry reports.

image of Korn/Ferry Institute  logo

The latest Executive Quiz from the Korn/Ferry Institute indicates that executive attitudes about the economy are improving, although most feel we’re still in the midst of a severe recession.  Korn/Ferry’s Eric Nielsen says impressions improved over the course of March, from seven per cent seeing recovery to 13 per cent.   

“Yeah, well I think what that speaks to is just how quickly the sentiment can change and what people believe and how they feel is ultimately what they do, right?  So, whether its executives making decisions about capital investments or expansion or new business opportunities, so much of it is dependent on, you know, what your perception of what the future holds.” 

Nielsen says Houston has lagged behind the downturn in other markets, and there are positive signs that recovery may be around the corner.

“Texas as a state has more Fortune 500 companies than any other state in the country now, and it’s a really great place to do business.  Consistantly ranked as one of the leading places to live.  Based on what our clients are doing, they’ve taken some time to reassess their own situations.  Now they’re starting to make decisions based on the reality of, you know, $50 oil versus $150 oil.”

Nielsen says the majority of those surveyed feel that bonuses should be returned by executives at companies receiving government bailout funds.  Korn/Ferry’s survey polled respondents in more than 70 countries and all industries. 

Ed Mayberry, KUHF Houston Public Radio News.