Bear season.

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The collapse of Bear Stearns and aggressive action by the Federal Reserve Board has raised the level of concern about the outlook of the United States economy. So the Business Journal asks:

What are your feelings on the economy?

John A. Schmid

President

Summit Business Brokers

Bubbles come and bubbles go. We've seen the dot-com bust and the current mortgage crisis. The cheap dollar is going to work to our benefit. To my knowledge, this didn't exist in other real estate downturns. The rest of the economy is fairly healthy, as far as I can see. We have an issue with gasoline prices, but I think it'll be over in about a year or so. The Bear Steams thing is a big "So what?"

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Rowena Hoffman

Branch Manger, Burbank

Comerica Bank

I did see panic in people eyes when Bear Steams went under. They made it through the stock market crash. Yet it makes people wonder, "Where should I invest or put my money?" With lower interest rates, I keep telling my customers that this is a great time to be in debt. But for those that are trying to live off of interest, this is a concern for them. I think this is a wave. We've seen this in the history of our economy and I think we'll bounce back.

Linda Komfeld

Managing Partner

Dickstein Shapiro LLP

I definitely believe that what happened at Bear Steams was disconcerting. I do believe, however, that the federal government's response was critical and necessary. If the Feds hadn't responded the way that they did, we'd be in a difficult situation. And I'm encourKomfeld aged by the other steps and actions that the federal government is taking to address the current situation. From my own personal conduct, I think it's important to continue to invest in our economy.

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Spencer leo

Director of Marketing

Peninsula Beverly Hills Hotel

I think it's certainly going to affect the way that wealthy individuals invest. The price of gold has been increasing. I think that bonds are doing well right now. My financial adviser tells me what to invest in and we always think that banks are medium to low risk. But we have a group of wealthy investors out there who have weathered this type of storm before. For them to lose a million tomorrow means that they will make a few more million next year.

Stephen R. Lueke

Partner

Ford & Harrison LLP

It appears that the Fed is doing what it can to even out the economy and to prevent a significant recession while providing a somewhat soft landing for the financial sector. With a bit of luck, Bear Stearns will be the last of the financial sector meltdowns. The recent volatility in the markets will level off and growth, albeit at a slower pace, will return by the third or fourth quarters.

Los Angeles Business Journal Poll

What is your outlook on the economy, given th
collapse of Bear Stearns and the Fed's aggressive
moves to stem further meltdowns?

This is the worst it    14%
will get; things will
turn around now.

The financial crisi     40%
may get worse but
the economy will
turn around in
coming months.

The financial crisis    46%
will be long and
deep, dragging the
economy with it.

Online results for week ending March 25

Note: Table made from bar graph.