DFW Business Leaders Share 2010 Predictions

The Dallas Business Journal hosted a well-attended Industry Outlook 2010 breakfast and panel discussion at the Westin Galleria Tuesday morning. Moderated by KERA’s Dennis McCuistion, the speaker panel included an impressive group of CEOs from various industries. The overall consensus was that we are fortunate to be in Texas and specifically Dallas. Here is the insight they offered:

Banking:

Elaine Agather said that her bank was lending, but the money was a bit more expensive and many of their clients are more conservative than ever, choosing to remain in cash and waiting for investment opportunities. Her major concerns for 2010 were credit card debt, national debt, and the commercial real estate sector.

Energy:

Jason Few expects that gas prices will remain low, and therefore has no reason to believe that electricity prices will escalate dramatically.  He supports deregulation of his industry, and is confident that Reliant is in a solid position due to technological advances and potential growth in Texas’ nuclear plants.

Pro Sports:

Bill Lively addressed the positive effects that the Super Bowl will have on North Texas’ economy.  Over 280 sponsoring companies have already joined the local effort to make this Super Bowl 2012 the first of many to come.  With Cowboys Stadium’s “50 yard line” location between Dallas and Ft. Worth, Lively foresees that many businesses will benefit from Super Bowl XIV.

Health Care:

Doug Hawthorne astounded the audience with the fact that Texas has the largest uninsured population in the country. Though this issue creates an assortment of problems for Texas hospitals, he reported that Texas Health Resources remains strong.

Retail:

John Menzer spoke positively about Michaels and Aaron Brothers, and is hopeful to keep making modest improvements in 2010. Unemployment certainly has a negative effect on retail, so much of his business’s performance depends on the economy’s continual recovery.

Manufacturing:

A producer of pumps and valves for the energy sector, Mark Blinn does 70% of his business outside of the U.S. in markets such as China and India.  He predicts a positive future for Flowserve, since many foreign countries are beginning to modernize their plants.

While none of the panel speakers were exuberant about the economy in 2010, each had a positive attitude and spoke with a bright glimmer of hope.

Tags: Dallas, Dallas Business Journal, Economy, Industry Outlook 2010