B’Man: No shit?
In an IndustryWeek (7/10) column, Tom Murphy, RSM McGladrey Executive Vice President, writes that “[e]conomic concerns driven by accelerating inflation in energy and commodity costs have drastically eroded confidence in most manufacturing and wholesale distribution segments in the U.S.” the RSM McGladrey 2008 Manufacturing and Wholesale Distribution National Survey suggests. Of more than 960 executives surveyed, “[o]nly 38 percent…describe their business as ‘thriving and growing.‘” Additionally, roughly “80 percent of respondents were pessimistic about prospects for the U.S. economy,” with inflation representing one of the biggest concerns. Over “80 percent of companies in the survey expect cost increases exceeding 6 percent in energy, raw materials, operating labor, [and] freight.” Also, “[h]ealth care costs once again are projected to increase on an average exceeding 10 percent.” The study “also indicates emerging realities about global business conditions, challenges and opportunities that manufacturers and distributors should consider as they seek avenues to continued growth.”
What takes these people so long to recognize what is evident?