Tag Archives | outlook

3 Questions Your Banker Wants Answered

3 Questions Your Banker Wants AnsweredRecently, I had lunch with our banker.  During the meeting, I asked her what she wanted to accomplish when meeting with her customers.  She said that she wanted to know the 3 questions your banker wants answered…

3 Questions Your Banker Wants Answered

1.  How are you feeling about your business and the local economy?

Have you felt the impact from the changes in the local economy and, if so, were they good or bad?  Has there been any fallout with your customers?  How are your competitors reacting?

2.  What is the outlook for the rest of the year?

Do you see the local economy getting worse, recovering, or staying flat?  What forces or drivers do you see influencing your outlook?  What local indicators are you watching?

3.  What are you doing about it?

What actions have you already taken to address any impact?  Have you identified your next steps?  How will those actions impact the financial statements?

In establishing banking relationships and making loans, bankers look to the 5 Cs of Credit for guidance.  The most important of those Cs is Character.  Character covers not only your personal character but also your business competence.  It also covers your management team.

When market conditions fluctuate, bankers want to know that you and your team are strong enough to navigate the rough waters until the economy recovers.

The challenge for business leaders is to be optimistic without being naive;  realistic without being pessimistic.

How are your conversations going with your bankerLeave us a comment below.

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3 Questions Your Banker Wants Answered

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3 Questions Your Banker Wants Answered

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Bank of America Merrill Lynch releases 13th annual CFO Outlook Survey

Last week Bank of America Merrill Lynch released the full results from its 13th annual CFO Outlook Survey. Below please find highlights regarding the key findings, along with a link to the full report, a press release on the findings and link to a webcast on the survey which includes a roundtable discussion with David Darnell, president of Global Commercial Banking, Bank of America and three CFOs.

Bank of America Merrill Lynch Releases 13th Annual CFO Outlook Survey

Jobs

Almost half of companies (47%) are planning to hire additional employees in 2011, up from 28% last year, according to the CFO Outlook survey by Bank of America Merrill Lynch. Among respondents, 44% have plans to hire permanent employees, while 13% plan to add contract employees. (Some expect to hire both types).

Economic Outlook

CFOs of U.S. companies continue to have a critical view of the U.S. economy, giving the economy an average score of 47 on a scale ranging from 0 (extremely weak) to 100 (extremely strong). This is up slightly from last year’s score of 44, which was the lowest in the 13-year history of the CFO Outlook. When asked what will have the biggest impact on the economy in 2011, CFOs ranked the following: Healthcare Reform (54%), Budget Deficit (52%) and the Housing Market (42%).

Amid this cautious view of the current economic climate, 56% of all CFOs are forecasting expansion for the U.S. economy in 2011. That’s down from 66% who last year predicted growth in 2010.

Conclusion

The CFO Outlook webcast featuring a review of the surveys key findings with the following:

  • Laura Whitley, Global Commercial Products executive at Bank of America Merrill Lynch
  • Joe Quinlin, Chief Market Strategist, U.S. Trust, Bank of America Private Wealth Management
  • David Darnell and three CFOs (Al Blazek, Dunham’s Sports; Rod Goodwill, Hirschfeld Industries; Jerry Schneider, Vistage International)

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CFO Outlook Survey

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