March 28, 2024

Economic Outlook 2009

| 1/1/2009

CEO Survey results - 2008 Performance

2008 2007 Change from
2007 (% pts.)
Meet or exceed goal 51% 68% -16.8
Expect to fall short 48 30 +17.5
Don’t know/not sure 1 2 -0.7

Michael Minton
Viewpoint 2008 Performance
Michael Minton
Dean Mead
President
Orlando

The legal industry is experiencing a shake-out of sorts. Law firms that were heavily dependent on a few large development-related clients or those that serviced the development industry are seeing a significant downturn. Thankfully, our practice is much more stable because it is focused on the long-term, generational evolution of Florida-owned family businesses which are the often overlooked, but in times like these, the absolutely essential backbone of our economy. We have been very proactive with our clients to assist them in addressing their credit needs and in overcoming the various mini-crises that naturally spin off from the credit crunch. We are also helping our clients identify cost-cutting and revenue-enhancing opportunities. We believe by adding value to our clients’ businesses, we are viewed as a complementary aspect of good management rather than a “necessary evil” as some businesses might characterize their attorneys.

CEO Survey results - 2009 Forecast

2008 2007 Change from
2007 (% pts.)
Better than 2008 45% 57% -11.9
About the same as 2008 37 35 +2.0
Worse than 2008 18 7 +10.5
Don’t know/not sure 0 1 -0.6

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Florida Trend Video Pick

Bitter-to-swallow cocoa costs force chocolate shops to raise prices
Bitter-to-swallow cocoa costs force chocolate shops to raise prices

Central Floirda chocolate shops are left with a bitter taste as cocoa prices hit an all-time high earlier this week.

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