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The Nicolet Bank Business Pulse

CONTACT Dr. David G. Wegge: (920) 217.7738 Michael Bina: (920) 362.5757

CEOs say Recall will significantly impact business

Last weeks Nicolet Bank Business Pulse reveal that 74% of NewNorth Business Owners and CEOs believe the outcome of the recall will have a Significant (51%) or Moderate (23%) impact on their business. One-in-ten said it will have a Slight Impact; 14% said, No Impact. There is a difference between CEOs of goods producing companies compared with service-based companies. Goods producers see the recall as having a greater impact (88% say Significant [59%] or a Moderate [29%] Impact) compared with 68% of CEOs in service-companies (Significant [48%] or Moderate [20%] ). In an open-ended question, CEOs described how a Walker win would impact their business. Nine-out-often (91%) said it would have a positive impact; 9% said negative. One CEO summed it up this way: If Walker wins we will have, less uncertainty about taxes; more confidence in a better business environment; better fiscal management and a positive economic outlook. Positive themes (91%) in the open-ended comments regarding a Walker win include: Reduces uncertainty about the future; Expenditures and taxes will go down; Wisconsins business climate will improve; Reduces governmental interference in business; Businesses will hire more people and invest in their business; Negative themes (9%) regarding a Walker win include: Negative political climate has damage the image of the state; Nothing has been done to help small business; Education will suffer; wont produce educated worker force; A rather small percent (7%) see positive impacts from a Barrett win. One CEO who sees positive impacts from a Barrett win said, It is possible (though not assured) that the message learned will be that arrogance and divisiveness are ill-suited for problem-solving, and that the result will be reconciliation, with more collaboration from both sides. Such a climate of reconciliation and a renewed focus of problem-solving would create opportunities for entrepreneurship and support the startup community. Positive themes (7%) in the open-ended comments regarding a Barrett win include: Support for education for a high tech society will increase; Return to responsible leadership and collaboration in solving problems; Improve the image of the state; Negative themes (93%) regarding a Barrett win include: We will return to big government, increased expenditures and increased taxes; Return to the past and the reforms we have made will be lost; Business climate will worsen, few businesses will come to Wisconsin and some will leave; Business will hold tight on any aggressive growth of their business;

While there are a few Business Owners and CEOs who do not view a Walker win as positive, it is clear that the vast majority of NewNorth CEOs is solidly behind Scott Walker.

To What Degree Will the Outcome of the Recall Election Impact Your Business in the Next Few Years?

Significant Impact Moderate Impact Slight Impact No Impact Not Sure




14% 2%
10% 20% 30% 40% 50% 60%

CEO Open-ended Comments Regarding a Win By Walker v. Barrett

100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Walker Elected Barrett Elected Negative, 9% Positive, 7% Positive, 91%

Negative, 93%

How the Survey is Conducted The Nicolet Bank Business Pulse is a Quarterly Study of CEOs and business leaders in the New North Wisconsin (Brown, Calumet, Door, Kewaunee, Manitowoc, Marinette, Oconto, Outagamie, Shawano, Winnebago Counties) and Menominee, Michigan. It is designed and implemented by IntellectualMarketing, LLC. The survey was conducted May 10 - 17, 2012 with 165 CEOs in the New North. Participants include: 28% in manufacturing; 25% in services; 19% retail trade; 5% wholesale trade; 6% finance, real estate, insurance; 6% in transportation, communications, utilities; 6% in construction; 6% in other industries. 24% have fewer than 6 employees; 29% have 6-25; 10% have 26-50; 10% 51-100; 16% 101-250; 4% 251-500; 3% have 501 to 1,000 and 3% have more than 1,000 employees. Dr. David G. Wegge (920) 217-7738

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