Barack Obama [Photo: Getty Images]

Mark Vitner
Senior economist, Wachovia Corp.

Mark Vitner, a lifelong Republican, thinks Barack Obama could be good for American businesses because “the mood toward America had soured so much that it was hard to do business overseas. Putting a fresh face in the White House could help if it improves our standing in the world.”

Mark Vitner

But, Vitner says, a lot of Florida business people are complaining about the Obama-supported Employee Free Choice Act, known as “card check,” which would establish the union as workers’ bargaining agent once a majority of the workers had signed petition cards, eliminating the requirement for a secret-ballot vote overseen by the National Labor Relations Board. Vitner calls it “the worst single economic proposal in the history of this country.” The second worst? Universal healthcare, says Vitner. Hopefully, he says, Obama will “hit it down the middle of the fairway instead of slicing it to the left.”

Larry Ross
Anne and Bill France distinguished professor of business, Florida Southern College

Larry Ross

“Spending on infrastructure could have a major impact on the construction sector, which in turn would begin to stimulate the retail sector as paychecks are converted to shopping receipts. Plans to increase healthcare access and reduce the cost of prescription drugs may have a dampening effect on what is currently the strongest performing sector of the state’s economy. With a large proportion of the state’s population currently eligible for Medicare, we will not see much of a short term ‘bump’ in workers’ disposable income from a new national healthcare program. More than likely we will see a moderation of the cost of healthcare and in turn a slowing in the growth rate for revenues in the healthcare sector. Offsetting the impact of the healthcare policy will be dramatic increases in the education sector. While declining state tax revenues have recently dampened spending for the public school system, Obama plans to invest heavily in higher education and education transition assistance. The net result should be a dramatic improvement in revenues for the state university system and in particular the community college system.”

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Pan Yatrakis
Professor of finance and economics and chairman of the finance and economics faculty, Nova Southeastern University

Pan Yatrakis

“A program of public works is high on Obama’s agenda. But such a program must first be enacted by Congress (and survive a potential Republican filibuster) and must then undergo engineering and environmental impact studies, competitive bidding and possible litigation before the first shovelful of dirt is turned. Industries providing these preliminary services should see some pickup in demand by the latter half of 2009, but it may be well into the following year before Florida’s construction industry is helped in a meaningful way by a program of public works. ... In the short run, the best hope for Florida’s economy is the strengthening of the safety net through the promised extension of unemployment benefits and the infusion of $25 billion in grants plus an unspecified amount in low-interest loans to the states, whose finances are being squeezed by falling tax revenues and increasing unemployment payouts. ... Somewhat faster relief for the building sector may in fact come from Obama’s alternative energy program but, again, probably not before about the middle of next year. ... Some of the tax relief promised by Barack Obama could also help Florida’s economy, particularly if it passes congressional hurdles swiftly and is made retroactive to 2008. Florida’s population of retirees is likely to be a major beneficiary, particularly those with incomes under $50,000.”