But as stock-market volatility since that report shows, the economy has a long way to go before its growth can be depended upon. American consumers, especially on the lower income rungs, remain financially strapped and wary, and many CEOs and business owners remain reticent to open their purse strings too far to invest in new plants and equipment.
One of the biggest reasons for vestigial pessimism is that, while job growth has resumed, it hasn’t been strong enough to help convert many part-time jobs to full-time positions or to pull millions of Americans from off the sidelines where many have grown so discouraged that they’re no longer actively looking for work. Younger workers have been especially afflicted. That’s a sign of an economy with a soft underbelly and continued vulnerability to swings in momentum and growth.
Speakers at the annual auto-industry Management Seminar in Michigan have been among those commenting on this remaining weakness in the economy. Though seemingly robust, new-vehicle sales continue to be depressed by a lack of full-time jobs for adults, Yen Chen, senior economist at the Center for Automotive Research, told the gathering. “That’s the reason we didn’t have very strong growth since the end of the recession,” he said.
Meanwhile, Itay Michaeli, a Citi analyst, told seminar attendees that annual auto-industry sales now would be at 17.4 million units a year in a “normal recovery” instead of the current annual sales pace of 16.5 million vehicles. The reason for the shortfall? Economic anxieties by young families ages 35 to 44 who normally would be buying additional vehicles as they have children, but who now are “reluctant” and “afraid to buy a second car.”
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
