SAN DIEGO, Jan. 26, 2011 /PRNewswire/ —
|WHAT:||Small Business CEO available for comment on President Obama’s State of the Union Address|
|WHO:||Steven Wallman, CEO and Founder of McLean, VA-based Folio Investing Inc. , a small business with 100 employees and intends to add 10-20 employees by the end of 2011.|
|Steven M.H. Wallman, a Commissioner of the U.S. Securities and Exchange Commission from 1994 to 1997, played a leading role in formulating policies that brought the Internet and other advanced technologies into wide use within the securities industry. Mr. Wallman is a recognized authority on securities markets and trading, and the application of technology to financial services. He also was a partner at the Washington, D.C. law firm of Covington & Burling. Mr. Wallman earned a law degree from Columbia University, and holds two degrees from the Massachusetts Institute of Technology, including an M.S. from the Sloan School of Management.|
|WHY:||Small businesses in the United States represent 99.7% of all employer firms, pay 44% of total US private payroll and employ just over 50% of all private sector employees (source: Small Business Administration ). As the backbone of the US economy, small businesses offer solid examples of job growth and can demonstrate to President Obama what needs to happen to stimulate jobs in America. According to the Vistage 4th quarter 2010 Small Business CEO Confidence survey , the majority (54%) of CEOs surveyed “plan on adding employees to handle increased sales.” This was the first time the majority planned to expand the number of jobs in three years. According to the survey, just 1-in-20 firms expect to trim their workforce in 2011. However, CEOs believe there are issues that will limit their profitability, including the impact of the new health care legislation and continued limits on the availability of credit. Since its inception in 2003, the survey has been supervised by Dr. Richard Curtin of the University of Michigan.|
About Vistage International
Founded in 1957, Vistage International, Inc., headquartered in San Diego, California, is the world’s leading chief executive organization, serving more than 14,000 members in 15 countries.
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