1. LEADERSHIP.
Vistage CEO Confidence Index, Q1 2012

2. Vistage At-a-Glance
Founded in 1957 as The Executive Committee (“TEC”), today Vistage International, Inc.
is the world’s leading peer advisory membership organization for CEOs and executives.
► Vistage has 15,000 members and operates in 15 countries
► Headquartered in San Diego, CA
► 160 employees (including ~30 at U.K., China and Mexico wholly-owned subsidiaries)
► More than 700 Vistage Chairs (independent-contractor, trained coaches) worldwide
► Approximately 800 Vistage Speakers (independent-contractor expert resources) worldwide
Collectively, Vistage member companies represent more than $250 billion in revenues
and 1.5 million employees in the U.S. alone.
For internal use only. ©2011 Vistage International. All rights reserved. 2

3. Vistage CEO Confidence Index
Overview
► The Vistage CEO Confidence Index is the nation’s largest and most comprehensive report
of the opinions and projections of small-to-medium-sized business CEOs about the U.S.
economy
► The survey, which began in 2003, is conducted quarterly and typically includes between
1,600 and 2,000 CEO respondents from across the country
► The results are analyzed by University of Michigan’s Dr. Richard Curtin, who also
oversees the U.S. Consumer Sentiment Index
► Dr. Curtin has determined that since 2003, the Vistage CEO Confidence Index has not
only provided a reliable snapshot of CEO confidence, but also serves as a reliable
harbinger for changes in GDP and Employment
For internal use only. ©2011 Vistage International. All rights reserved. 3

4. Vistage CEO Confidence Index
For internal use only. ©2009 Vistage International. All rights reserved. 4

5. Vistage Confidence Index and
Year-to-Year Changes In GDP
GDP
GDP
Confidence

6. Vistage Employment Expectations Index
and Year-to-Year Changes In Employment
Employment
(Y-Y %Change)
Employment
Employment Expectations

7. Vistage CEO Confidence Index
Q4 2011 Highlights (Survey of 1,641 Small Business CEOs, December 12-22, 2011)
75% of CEOs say their sales revenue will increase in the next 12 months.
60% of CEOs expect their firm’s profitability to improve during the next 12 months.
59% of CEOs believe recent data showing economic improvement signals a longer-term
trend toward economic growth.
60% of CEOs believe that overall economic conditions in the U.S. have improved
compared to a year ago.
84% of CEOs have learned to make their business more productive with fewer employees.
57% of CEOs expect their total number of employees will increase in the next 12 months.
30% of CEOs said that if they could start their business over again, they would chose to
open it in another state.
For internal use only. ©2011 Vistage International. All rights reserved. 7

8. Vistage CEO Confidence Index
U.S. State City
Overall economy has improved 60% xx% xx%
Expect increase in revenues 75% xx% xx%
Expect increase in profits 60% xx% xx%
Plan to hire in next 12 months 57% xx% xx%
More productive with fewer employees 84% xx% xx%
Small Business CEOs surveyed: United States—1,854; State - xxx; City - xx
For internal use only. ©2011 Vistage International. All rights reserved. 8

9. Vistage CEO Confidence Index
Questions/Comments
For internal use only. ©2011 Vistage International. All rights reserved. 9