For some reason I've been in a great mood today despite coming across a litany of not-so-positive economic news. To wit:
- Commercial real estate pros say no recovery until 2011
"The fourth quarter 2009 LoopNet Pulse Poll said the number of respondents that think commercial real estate transactions will rebound in 2011 jumped to 46 percent, compared to 13 percent in its third quarter survey.And 50 percent said they anticipate a rebound in 2010, which is down from 66 percent in the survey taken in the third quarter."
- Foundation giving likely to fall 10%
"When the year wraps up, foundation giving likely will be down by more than 10 percent. The Foundation Center predicted a fall of 8 percent to 13 percent earlier this year.The Foundation Center, a New York City organization supported by nearly 550 foundations, also predicts that foundation giving will decrease even more in 2010."
- Bankers slow hiring, cut costs
According to a survey of chief financial officers and senior comptrollers conducted by Grant Thornton LLP, only 20 percent said their company will increase hiring in the next six months while 55 percent said executive bonuses will be trimmed.Only 40 percent believe the U.S. economy will improve by the first quarter of 2010, compared to 49 percent of financial officers across all industry sectors. The majority of bankers, about 53 percent, expect the economy to come out of the recession in the second half of 2010.
What the hell, we're all gonna die eventually anyway. As the song says, "don't worry, be happy!"
