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CTRR's Manley

'Much of the program was fundamentally misguided b/c it was not oriented at the types of activity that allowed jobs to be created.'

By Ryan Clark | Updated on July 19, 2009

Half-way through the first year of a new presidential administration and neck deep in dire financial straights, the country has enough information to take a backward glance and assess the damage and the efficacy of the government’s response. Our reader’s dropped their two cents into the GlobeSt.com’s Quick Poll “How Effective is the Administration’s Revival of the Economy?” and 58% decided that the administration’s efforts are “not at all” effective. Just under half of that at 22% believe it is still too soon to tell, with 17% hedging on the positive side saying efforts have been “somewhat” effective. Marisa Manley, president and founder of Commercial Tenant Real Estate Representation, Ltd. sees systemic errors, as well as those of judgment.

“The first thing that we look at and the first thing that I think is going to be a driver for many businesses and industries is employment. And everyone is saying that unemployment has not yet hit bottom. You know, people say it’s good news that the rate of unemployment growth has slowed. Well, that’s pretty tepid good news. Folks are still losing their jobs. And some are part of structural changes, [and] in some cases, its as simple as a right-sizing.”

“But when we look at the banks and the auto companies, those are structural changes. Those jobs are never coming back and that’s probably a good thing, we don’t need them anymore. We don’t need buggy whips, anymore. We don’t use candles anymore, so all those candle-makers and buggy whip makers are out of business. But you know what? Overall, that’s okay, there are going to be changes in the economy. The question is: ‘Are we moving? Are we using the right programs? Are we allowing our economy to do what it does best, which is to respond flexibly?’ Sometimes it’s better to take a quick hit and move on.”

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