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What has the impact of the "sequester" been on your company? Is it impacting current or pending growth initiatives?

Answers

Topic Expert
Christie Jahn
Title: CFO
Company: Prime Investments & Development
(CFO, Prime Investments & Development) |

I think if you are an agency affected by it could mean loss of jobs and benefits. The biggest area of concern for me personally is the education cuts.

Sara Voight
Title: Controller
Company: Critical Signal Technologies, Inc
(Controller, Critical Signal Technologies, Inc) |

My company won't feel the effects for another month or so. We have many Medicare/Medicaid clients whose services (personal emergency response systems) are paid for by the government. It is already a task to get payments, as clients go in and out of coverage on a monthly basis. We now wait to see what other imposed changes occur. The impact is direct, as we don't find out until after the service has been provided and we don't receive payment.

Robert Rochester
Title: VP & CFO
Company: Edcor Data Services LLC
(VP & CFO, Edcor Data Services LLC) |

My company is a B2B service provider, and so far, the sequester reductions have had no discernible impact on business. The only exception is the impact it seems to have on employees. Due to the financial markets reaction, our employees are smiling a lot more when they look at their 401(k) account balances. :)

Topic Expert
Christie Jahn
Title: CFO
Company: Prime Investments & Development
(CFO, Prime Investments & Development) |

Sara, A friend of mine works in Case Management for a hospital and has said many older Dr's plan to retire because of Obama Care due to similarities in what you mention. Do you see anything like that happening?

Sara Voight
Title: Controller
Company: Critical Signal Technologies, Inc
(Controller, Critical Signal Technologies, Inc) |

We provide medical monitoring for hospitals, doctors, govt agencies, managed care groups, and private people. Our group won't be retiring, but we will be very sensitive to those supported by the govt and how that could change on a dime (or that they will choose to pay us something different than our contracts). What we provide is a service to help people stay independent longer, remember to take their meds, and stop to pattern of re-admittance to hospitals.

Damon Butler
Title: CFO
Company: The Protective Group, Inc.
(CFO, The Protective Group, Inc.) |

We're a defense contractor and the sequester is a disaster. The biggest single issue is not the cuts, it's the fact that Congress won't decide what the budget will look like and therefore no one in the DoD can make any plans about how to react. In 8 days we'll be halfway through the Federal fiscal year, and no budget. It's shameful. People will deal with cuts, they can't deal with the lack of a decision.

Topic Expert
Regis Quirin
Title: Director of Finance
Company: Gibney Anthony & Flaherty LLP
LinkedIn Profile
(Director of Finance, Gibney Anthony & Flaherty LLP) |

Damon's last statement is spot on. Our economy can adapt to any expansion or contraction. But it falls apart when the direction is unclear. There is a reason Economics is considered a Social Science. The consumer's impact should never be under estimated...and consumer sentiment will dictate the impact.

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