Yikes, I just read this article in the Nashville Business Journal —————————————————— Nearly three-quarters of chief financial officers interviewed for a Duke University survey say the national economy won’t rebound until 2009,...
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Yikes, I just read this article in the Nashville Business Journal —————————————————— Nearly three-quarters of chief financial officers interviewed for a Duke University survey say the national economy won’t rebound until 2009, with a majority saying a turnaround won’t start for another 12 months. The CFOs also think that domestic employment will fall and that prices will jump by 4.1 percent in the coming year. Those are the key findings of the study, conducted by Duke along with CFO Magazine. More than 1,000 CFOs were interviewed about their expectations for the global economy, including 468 CFOs interviewed about the U.S. "This could be the longest slowdown since the double dip recession of 1979-81," John R. Graham, director of the survey and a finance professor at Duke’s Fuqua School of Business, said in a statement. " Our survey indicates that CFO optimism is bottoming out near record lows. Even more worrisome, there is evidence of stagflation - slow economic growth and rising unemployment combined with inflation." Other findings from the study: - Fuel costs have joined weak consumer demand as CFOs’ top concerns. CFOs also are worried about the tight credit markets and their ability to attract top-notch talent. - Some 82 percent of CFOs said their companies have been directly hurt by the credit crunch. Of those companies, nearly half say that their borrowing costs have increased. - Among those same firms, nearly 60 percent say they’ll cut investments or hiring. —————————————————— …I could let that get me down… However, I have a sustainable business that IS recession proof! If you need cheering up just watch these videos from other SiteBuildIt users who do not have to worry about any recession: http://www.sitebuilditandtherecession.com/?p=5
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