CEO of Yellow Pages Nationwide--Interview and Forecast

I asked Martin Snytsheuvel, CEO of Yellow Pages Nationwide, what his thoughts were about layoffs, the economy and the looming recession. Here is what he said--The Industry forecast of 2008 -2009 would have to be worrisome at best. With the escalation of building and utility costs, the housing slump, and growth of unemployment definitely raise my concerns.

There is a possibility of recession that cannot be dismissed. Consumers are still spending, but it may be time to pull back the reigns. Retail may mirror the housing market, and headed for a slowdown in our economy. For the third year in a row job creation has been in decline. This is important as it effects office rental space. Healthcare seems top be the only area where we are somewhat “RECESSION PROOF” because they are still on an increase and actually see to have a need for new medical office buildings.

A strange turn of events is where families are losing their homes to foreclosure are actually creating a need and surge in multi-family housing, especially in the southwest. Apartment builders will benefit from all indicators currently seen. Landlords in the residential and industrial sector looks like a good bet. Unemployment is a concern. Standing at 6.2% nationally and long-term unemployment is a persistent problem.

Over the past 6 months, 2 million Americans are unsuccessfully looking for work, while 9 million are unemployed. There are 3:1 unemployed people looking for every job opening. As far as layoff in the Internet Technology sector I cannot see where any industry would not be affected by a national crisis such as a recession. I am hoping that if Americans vote for change in 2008 we will have a positive outcome. So get out there and Vote America!!!