Managers See President Obama’s Stimulus Plan Hurting Business According to Progressive Business Publications Survey
PRESS RELEASE - For Immediate Release
Contact
Rich Henson
Group Publisher
Progressive Business Publications (PBP)
376 Technology Drive
Malvern, PA 19355
610 854-6282
Date - April 9, 2009
Managers See President Obama’s Stimulus Plan Hurting Business According to Progressive Business Publications Survey
MALVERN, PA, April 9 – By a 2-to-1 margin, middle-level managers with hiring responsibilities have turned a thumbs-down to the Obama administration’s stimulus package recently passed by the Democratic-controlled Congress.
A total of 2,775 managers from a broad cross-section of industries and companies participated in the survey conducted on HRMorning.com (http://HRMorning), the daily updated information Web site sponsored by Progressive Business Publications (http://www.pbp.com). (The site is visited daily by tens of thousands of managers.)
The poll found that 32% believe the stimulus measures will hurt their industries, while just 16% said it will be helpful and beneficial for job creation.
Of the remainder, 28% said it will have no effect and 25% said they weren’t sure.
In a separate survey conducted at the time the Employee Free Choice Act (EFCA) was introduced in Congress, the verdict of HR Managers on the administration’s personnel policies was even more negative. If enacted, EFCA would scrap the secret-ballot vote for unionization efforts.
Of the 1,286 HR practitioners responding, 70% said the administration’s personnel policies would make their jobs more difficult, while only 9% said their jobs would become easier as a result. Another 21% felt the measure, if passed, would have no effect on their jobs.
Business managers casting their votes also took the opportunity to post comments on Progressive Business Publication’s HRMorning.com site, often in sarcastic tones questioning the new government measures.
Much of the ire was directed at a provision that would require companies to front 65% of COBRA costs for laid-off employees (which may be recoverable through a credit on payroll taxes).
One HR practitioner called the legislation “horrific,” while another said the recovery act would be better described as the “Re-bury” act.
“There really isn’t much here that will benefit our business,” one comment read. “If we happen to hire a veteran, we’ll take the tax credit but we have no openings right now. We don’t take out loans with the SBA. If we have a capital investment, we’ll take the deduction, but we have nothing planned for 2009. All in all, not much help to us or, I would guess, most small or mid-size businesses.”
Progressive Business Publications is a leading diversified information and executive education company that serves hundreds of thousands of companies, including virtually all the Fortune 1000, with its product offerings.
