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Business in Vancouver November 18-25, 2008; issue 995 Panel discussion What do you think the impact of the U.S. economic crisis will be on your company? And what, if anything, do you think should be done about it? “Once the mass hysteria abates, the markets will settle down and shrewd investors will realize that this is a tremendous time to invest with valuations so low.” “The weakening of the Canadian dollar kills our margins to the extent that we cannot immediately increase prices on our imports from the U.S. The weak U.S. economy will impact our customer base, which includes oil and gas and all resource-based industries.” “Our current workload appears to be unaffected by the downturn. We are focusing our marketing efforts on areas such as government and local institutional work that would be less likely to be affected.” “The impact of the U.S. economy on our company affects the resource companies who are renting space in our building who do not have the financial backing to ride out the storm. These companies are few and with the tight office market it should not impact us in a big way.” “Our company will do better in bad times [because] a switch to technology saves money over the old way of doing things.” “Sales are already down 60%. Keeping our staff motivated is the key for us.” “It will allow for a review of processes and improvement of baseline efficiency, which will be a great asset in the next growth cycle.” “Some of my clients may have to tighten their spending and that may include spending on my services. However, I think other new clients are out there that will replace them. ” “We may be slightly impacted, but I do not see this in the long term. My fear is that people are going to overreact and create a bigger problem than would otherwise occur.” • |
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