Executive Briefing
Investor's Business Daily
On Friday July 17, 2009, 6:03 pm EDT
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COMPANIES
U.S. Foreign Sales Climbing Higher
Companies in the S&P 500 are posting more overseas sales.
Standard & Poor's says in fiscal year 2008, S&P 500 companies reported that 47.9% of their sales came from outside the U.S. vs. 45.8% in 2007 and 43.6% in 2006.
The data comes from 253 firms in the S&P 500 that have full reporting information.
"Despite the global recession's impact on local markets, companies are continuing to generate more and more sales from outside of the U.S.," said Howard Silverblatt, S&P's senior index analyst. "This trend is expected to continue as an increasing number of U.S. companies continue to shift labor, capital, and resources to foreign countries, where a growing worldwide middle class is emerging."
TRAINING
MBA Applicants Feeling Upbeat
The next wave of business school applicants are likely to pursue a degree out of hope rather than fear.
A survey by Manhattan GMAT, a national test preparatory firm, shows that an overwhelming number of potential applicants view their current job status positively. It also reveals that potential students feel upbeat about their economic future.
The survey polled business school applicants preparing to take the Graduate Management Admission Test or GMAT. It found that 82% of survey respondents are currently employed full time. Seventy-eight percent feel at least stable, if not secure, in their current jobs.
The results counter views that B-school applicants are seeking alternatives to unemployment or view graduate study as a way to escape the recession. Only 3% of respondents say they're taking a break to wait for better work options.
TECHNOLOGY
Companies Cut IT Employees
Layoffs of IT workers are surging this year.
Almost half of all U.S. companies, from retail to manufacturing, say they've budgeted for fewer IT staff than last year, according to a survey by IT adviser Computer Economics.
Forty-six percent of all IT players plan to reduce head count in 2009 vs. 27% that are staffing up. Another 27% of IT companies say their staffing levels will remain the same as last year.
Retail is suffering the most IT job losses. Budgeted IT staff levels are down 8% over the prior year. Discrete manufacturing is down 5%, while process manufacturing is down 3%. Insurance is down 3%.
Health care providers are showing the most growth, raising IT staffing by 63% this year. Fifty percent of the utilities and energy sector are growing staff.
SMALL BUSINESS
U.S. Store Owners Bullish On Future
A survey says notable numbers of U.S. small business owners are bullish about the economy despite a wave of recent corporate bailouts.
Fifteen percent of respondents in the Ace Hardware Entrepreneurship Study said the economy hasn't had a negative impact on their business, while 16% believe there will be enough of a rebound in one year to have a positive impact. Fifty-three percent say the economy will turn around enough in the next two to three years to buoy their firms.
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