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Middle-market CEOs saw disruptions even before lockdowns

Even before statewide lockdowns swept the nation and shuttered most of the U.S. economy, more than half of middle-market CEOs said the spread of coronavirus had disrupted their companies’ production and supply chains, according to the latest Marcum-Hofstra CEO Survey.

The Marcum LLP-Hofstra University CEO Survey found that approximately 56% of mid-market CEOs reported production disruptions related to COVID-19. At the same time, the global pandemic has forced many businesses to shut down operations entirely in several international markets, the survey found.

CEO optimism about the current business environment plummeted just as the coronavirus outbreak was reaching U.S. shores.

  • 13.3% of CEOs rated their outlook for the coming year as “10.” This is a decline from 17.6% in the previous survey.
  • 35.6% of CEOs rated their outlook as “8” or higher. This is a steep decline from 58.6% previously.
  • 71.5% of CEOs assigned a rating of “5” or higher in the current survey, down sharply from 94.1%.
  • 40.2% of CEOs assigned a rating of “5” or lower in the current survey, up sharply from 11%.

When asked about their priorities for capital investment over the next 12 months, technology was the most frequent response, with 60% of CEOs indicating that this was one of their three top priorities. This represents a decrease from 68% in the previous survey.

  • Equipment (23% of CEOs) and technology (21% of CEOs) were most commonly cited as the top investment priorities

Issues related to the economy, the availability of talent, and technology were the most commonly expressed influences on business planning (top 3) for the coming 12 months.

  • “Economic concerns” was most often cited as having the greatest influence (by 31.3% of the respondents), followed by “access to capital,” which was cited by 21.5% of respondents.

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Drew Limsky

Drew Limsky

Editor-in-Chief

BIOGRAPHY

Drew Limsky joined Lifestyle Media Group in August 2020 as Editor-in-Chief of South Florida Business & Wealth. His first issue of SFBW, October 2020, heralded a reimagined structure, with new content categories and a slew of fresh visual themes. “As sort of a cross between Forbes and Robb Report, with a dash of GQ and Vogue,” Limsky says, “SFBW reflects South Florida’s increasingly sophisticated and dynamic business and cultural landscape.”

Limsky, an avid traveler, swimmer and film buff who holds a law degree and Ph.D. from New York University, likes to say, “I’m a doctor, but I can’t operate—except on your brand.” He wrote his dissertation on the nonfiction work of Joan Didion. Prior to that, Limsky received his B.A. in English, summa cum laude, from Emory University and earned his M.A. in literature at American University in connection with a Masters Scholar Award fellowship.

Limsky came to SFBW at the apex of a storied career in journalism and publishing that includes six previous lead editorial roles, including for some of the world’s best-known brands. He served as global editor-in-chief of Lexus magazine, founding editor-in-chief of custom lifestyle magazines for Cadillac and Holland America Line, and was the founding editor-in-chief of Modern Luxury Interiors South Florida. He also was the executive editor for B2B magazines for Acura and Honda Financial Services, and he served as travel editor for Conde Nast. Magazines under Limsky’s editorship have garnered more than 75 industry awards.

He has also written for many of the country’s top newspapers and magazines, including The New York Times, Washington Post, Los Angeles Times, Miami Herald, Boston Globe, USA Today, Worth, Robb Report, Afar, Time Out New York, National Geographic Traveler, Men’s Journal, Ritz-Carlton, Elite Traveler, Florida Design, Metropolis and Architectural Digest Mexico. His other clients have included Four Seasons, Acqualina Resort & Residences, Yahoo!, American Airlines, Wynn, Douglas Elliman and Corcoran. As an adjunct assistant professor, Limsky has taught journalism, film and creative writing at the City University of New York, Pace University, American University and other colleges.