Walsh College alumni are more positive about the direction of the economy in Michigan than they are of the United States, says a recent survey from the Troy-based business college.
“We were hurt more deeply than other states with high unemployment and foreclosure rates,” says Linda Wiechowski, professor of finance and economics at Walsh College, who assisted in supervising the survey. “We are getting closer to where the U.S. economy is.”
In the survey 94 percent of alumni respondents said they felt positive about the direction of the state’s economy, whereas only 18 percent felt positive about the country’s economy, which has much to do with the Affordable Care Act, Wiechowski says.
“People are wondering how much longer the stock market can last at its all time high, in addition to thinking about the impact of Obamacare on businesses and the economy,” Wiechowski says. “While many think Obamacare is great for everybody, many are wondering how they are going to be able to afford it.”
In the bi-annual survey, conducted in the first quarter of 2014, 62 percent of respondents believed their personal finances would be “excellent” or “good” over a period of 12 months, while 8 percent thought their finances will be “not so good” or “terrible” during the same time.
According to Wiechowski, Walsh alumni expressed concern over the stock market and high interest rates for municipal bonds, believing that private investments would be the best economic stimulator, along with fiscal transparency and political leadership from Washington, D.C.
This might be a case of the crowding-out effect, where public spending has crowded out private investment and a return to private might be best, Wiechowski says.
In other Walsh news, the school will host its third Women’s Entrepreneur Conference, Entrepreneur-YOU, on March 26. The daylong conference provides opportunities for women who want to own and operate a business. Tickets are $45, and can be purchased online at thewalshinstitute.com/eyou3.