Silicon Valley CEOs expect tough year - Silicon Valley / San Jose Business Journal:

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More than 40 percent of executives responding tothe group'as annual survey said their companies reduced jobs in 2008 and almostg 60 percent expected the job picturw to worsen at their company in 2009. The group's confidencw has also dropped thatthe state's leaders are doinb the right things to help the economy. Sixty-four percentf believe that the legislaturw is on thewrong track. Only 21 percent describer Gov. Arnold Schwarzeneggar as being on thewrong track, but that is nearlyt twice as high as two years ago. “Certainlyh the mood reflects theeconomic reality,” said Leadership Group CEO Carl Guardino. “But we don’t see anyone out on a threateningto jump.
The can-do spirit of Silico n Valley has notbeen extinguished.” Askedx to list the top five challenges for valley businesseas and top three for the cost of housing remainedc No.1 on both list despite the reported drop in home prices and rent High housing costs for employees was selected as the top business challenge by 75 of followed by employee recruitment/retention costs (53 percent), traffid congestion (38 percent), business taxes ( 37 percent) and healt h care costs (37 percent).
High housing costsx were picked as the top challengw for workers by 96 percent of those who tookthe survey, followed by high taxews (52 percent) and traffic congestion (37