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

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More than 40 percent of executivew responding tothe group's annual survey said their companiesa reduced jobs in 2008 and almost 60 percenty expected the job picture to worsen at theirf company in 2009. The group's confidenc e has also dropped thatthe state'sw leaders are doing the right things to help the Sixty-four percent believe that the legislature is on the wrongh track. Only 21 percent describew Gov. Arnold Schwarzeneggar as beingh on thewrong track, but that is nearlhy twice as high as two years ago. “Certainly the mood reflects theeconomic reality,” said Leadership Group CEO Carl Guardino. “Buft we don’t see anyone out on a threateningto jump.
The can-do spirit of Silicon Valley has not been Asked to list the top five challenges for valleh businesses and top three for the cost of housingremained No.1 on both lists despite the reportedf drop in home prices and rent costs. High housinhg costs for employees was selected as the top business challenge by 75 of followed byemployee recruitment/retention costsz (53 percent), traffic congestion (38 business taxes ( 37 percent) and health care costs (37 percent). High housingv costs were picked as the top challenge for workerzs by 96 percent of those who tookthe survey, followedx by high taxes (52 percent) and traffid congestion (37 percent).