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Editorial, continued. I again started to see hope for an economic recovery last March, but the invasion of Iraq created uncertainty in the minds of consumers and the recovery was again delayed as people waited to see the outcome. More uncertainty became a reality as we started hearing about the potential expansion of hostilities into other countries that supported terrorism. Next came the Governor Davis recall campaign that created a glimmer of hope for a change in California government, but also created uncertainty in the minds of businesspeople and consumers alike. |
I saw a
slight rise in the economy starting as the Davis recall became a reality
and many people saw another glimmer of hope that an improved business
climate would be just around the corner. The small recovery was again
thwarted by the ugliness of politics as it began to appear that the
campaign might be delayed or the recall would fail. The recall and replacement of the governor and our restraint in expanding military action into more countries has created much more optimism in the business community. This has resulted in the loosening of budgets and additional employment churn. |
High level jobs are starting to open and lower level positions are being filled from the ranks of the unemployed as mid-level people move up into the newly created high-level positions. Hope and economic recovery are in the air and people are being much less guarded about their holiday spending and stores are seeing higher levels of sales. If the new governor of California can effect real and positive change in the state, I am convinced that we are on our way to a healthy economic recovery. |
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