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Digging Your Way Out
jjosephson 2009-10-22 12:39:53.0
We talk to hundreds of companies a day. And I get the feeling that we're about to go over another cliff. There is no "end of year money" waiting to get spent. There is no "pent up demand." And now people are talking about a million companies not being able to re-fi their commercial mortgages when the balloon comes due in 2010.
We did see some impact of the stimulus money over the summer, but haven't heard about too many projects being funded since. Did the Cash for Clunkers program fail to stimulate the economy?
Here's my prediction: Come the end of the year, pink slips are going to flow like water - especially in the management ranks.
Then what? When the survivors wake up on 1/4/10 and see every other office vacant, if you're one of them, you'd better get cracking. There will be no growth that you can ride on, so you're going to have to steal market share from your competitors. Call me if you need help.
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