In prior years, saddled with heavy incentives and a sagging economy, industry executives pushed profitability out as far as they could. Our survey this year has definitely found improved profit levels emerging sooner rather than later, and this is very encouraging.
In a down economy, our survey has found executives always pushing profitability a few years out, and this year is no different. But what the executives are telling us this year is that they have seen the worst and that the industry is poised for a rebound.