Morningstar’s goal was to recognize these executives and their contributions. Three categories group the executives based on their specialties, namely: fixed-income managers, domestic stock managers and international stock managers. Final results will be released on January 5.

Some of the nominees for Fund Managers of the Year include:

• Hakan Castegren of Harbor International. He has already won the award twice and is also nominated for the Fund Manager of the Decade award.
• David Herro of Oakmark International and Oakmark International Small Cap.
• The managers of American Funds EuroPacific Growth: Lee, Grace, Bepler, Denning, Lovelace, Kawaja. They are also in the running for Fund Manager of the Decade award.
• Brent Lynn of Janus Overseas, who implemented an aggressive style that has generated big returns for his investments. This year, he is up an astounding 75%, and his five-year return is annualized at 17.1%.
• Manning & Napier World Opportunities’ Magiera, Tommasi, Coons, Andreach, Donlon, Gambill, Herrmann, Lester, Trotter.
• Longleaf Partners’ Staley Cates and Mason Hawkins are also nominated for Fund Managers of the Decade.
• Bill Nygren of Oakmark is another Fund Manager of the Decade nominee.

These executives have proven their worth and competence in stirring their companies towards success despite the very bad economic climate of the past year. Having generated profits not only for their companies, but more importantly, for their customers, they have set their companies on a great path towards 2010.

For many, like Walmart de Mexico chief executive Eduardo Solorzano, the economy has cause for optimism. In contrast, Walmart Stores CEO Mike Duke is treading the economy with caution, believing there is “still a lot of stress.”

Level 3 Communications CEO James Crowe also “continues to be cautious,” but he is beginning to feel that consumers are starting to buy again. Likewise, Metso Oyj’s CEO Jorma Eloranta said, “The overall market sentiment…continues to be cautious.” Nevertheless, Eloranta saw some positive signs.

At any rate, many company executives have conceded better earnings amid economy woes. Stacy Smith, Intel Corp CFO, said there were “signs” that the market for personal computers bottomed out early in 2009. The statement jibes with that of Interpublic Group of Cos CEO Michael Roth, who saw “improvement” between March and February 2009.

Feike Sijbesma, CEO of DSM NV, thought demand did not improve, but it did not deteriorate either. WPP Group CEO Martin Sorrell went so far as saying, “We’re doing OK,” while Drax Group CEO Dorothy Thompson said she saw “marked improvement in margins for 2010.”

Others have lower expectations. Air Liquide CEO Benoit Potier said that although there have been positive signs at the quarter’s end, this does not connote any indications of a trend. Earl Hesterberg, CEO of Group 1 Automotive, also saw no indication.

Bruce Wasserstein, Lazard’s chief executive, described the current economic atmosphere as being turbulent or tumultuous. In the same way, Abbott Laboratories CEO Miles White said that his company bore “the real impact of the economic downturn” for the first time.

Referring to subsidiary American Airlines, AMR CEO Gerard Arpey contended that the economic situation and the present condition of the capital markets continue to post significant challenges.

Famed restaurant chain Burger King even admitted their global margins were low, with branches in Germany and Mexico experiencing the steepest drop.