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As executives in greater Los Angeles companies, we all are completing a challenging year. The economic recovery has been excruciatingly slow. Indeed, it has seemed at times like "one step forward, two steps back" has been the operative mantra whenever we thought we were headed in the right economic direction.
For companies looking to grow, the contraction of available credit, particularly the lack of credit to small and mid-sized businesses, makes financing a difficult and drawn out process. This not only results in delayed plans - it also drains focus and energy from the actual business. While corporate profits have risen, it has mostly been through expense management and productivity, rather than sales. Rising health care costs continue to be a problem.
California and national legislative impasses along with resulting budget crises have helped to further depress the economic situation. Add to this mix the unknown impacts of continuing international Euro crisis bailouts and the potential for growth bubbles bursting in China.
All of these factors contribute to a sense of uncertainty, and a possible outcome is that this uncertainty will breed inaction - a wait-and-see approach. Given the amalgam of unknowns, it's not surprising that executives are cautious about investing in capital or inventories.
And yet - given many adverse macro- and micro-economic trends - we know that best-in-class businesses will deliver 2012 results that greatly exceed those of companies with average financial strategies and tactics.
As formerly-seated chief financial officers, we partner to deliver best-practice financial services that drive improved performance, growth, greater profits and increased shareholder value.
As you prioritize and plan your 2012 financial initiatives, I invite you to contact me to discuss a potential working relationship. I firmly believe that you will realize significant value from our conversation, and, of course, there is no obligation for this initial meeting.
Best regards for a prosperous new year.
Sincerely,
Arthur F. Rothberg
Mangaging Director
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