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.

PRESS RELEASE - For Immediate Release

Contact
Rich Henson
Group Publisher
Progressive Business Publications (PBP)
376 Technology Drive
Malvern, PA 19355
610-865-6282

Date - March 26, 2009

Exclusive PBP Business Survey Shows Depth of Current Recession

MALVERN, PA – An exclusive survey of leading business professionals conducted by Progressive Business Publications (www.pbp.com) reveals the depth of the current economic recession among a broad range of companies in all industries and sizes.

PBP, a diversified business information provider, regularly surveys thousands of executives across the U.S. to take the pulse of how the economy is affecting the various professionals served by its paper and electronic newsletters, audio conferences, daily updated Web sites, Executive Reports, Compliance needs, Case Law Books and other business products.

The surveys are based on responses from 675 professionals and were compiled this week. Significant findings among the ranks of Sales Managers include:

• 65% or nearly two-thirds of Sales Managers report sales are down in the first two months of the year. Almost one-fifth (19.1%) of Sales Managers reported their sales down between 10% and 20%, and one-third (33.3%) reported sales were down 20% or more.
• The recession has created a dramatically increased focus on price with most buyers trying to extract every possible price concession; 48% of Sales Managers report that what they need most at this time is training to keep salespeople focused on value, not price.
• The recession has also made Sales Managers more pessimistic about the possibility of obtaining new customers in the present economic climate. The largest segment (42%) said they will focus most efforts to shore up revenues by trying to sell more to existing customers.

A second survey of Financial Executives indicates strong dissatisfaction with the cooperation they are getting from other departments within their own companies to identify and implement cost-saving measures. Many are also feeling a cash squeeze because their customers appear to be in trouble and have slowed down payments as a protective measure.

According to recent surveys among CFOs, Controllers and Credit and Collection Managers:

• More than half (57%) of top Finance Execs believe their companies still have a way to go before all employees become responsible spenders and treat the company’s money as their own.
• 48.4% felt what their companies needed most, apart from more responsible spending habits internally, was guidelines for what to do when good customers have problems.
• Next on the list of needed tools to combat cash flow problems (37%) was a list of effective comebacks for debtors’ excuses.

Office Managers and Administrative Professionals, who are most often at the hub of company spending, report seeing significant belt-tightening around them.

In a separate survey:

• More than half (53.1%) said they had seen layoffs in their organizations
• Almost 95% said the downturn had affected or will soon affect their organizations
• An overwhelming majority (81%) said they felt pressure to save money an all purchases, no matter how small.
• Solid majorities (between 53% and 69%) saw budgets tightened for such things as travel, continuing education, and meetings and events).

Perhaps more significantly, a solid majority (58%) of administrative professionals said they had seen more job-related stress among the remaining employees that was affecting personal and company performance.

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.