More excuses from Capellas:
HP exec sees small, medium firms leading recovery
ASPEN, Colo., Aug 20 (Reuters) - Hewlett-Packard Co. (NYSE:HPQ - News) President Michael Capellas on Tuesday said small and medium businesses will lead the economic recovery in the United States, but that the arrival of a broader improvement remains difficult to peg.
"If you're looking for an indicator that's where I'd look," said Capellas, referring to what he called mid-tier, general businesses.
Capellas -- who holds the No. 2 spot at the Silicon Valley-based technology giant following its mega merger with computer maker Compaq -- said small and medium businesses account for a substantial part of the economy and already are showing early signs of recovery.
Nevertheless, he said it remains too difficult to predict when the overall economy will pick up.
"I do think we have achieved the bottom," said Capellas, who also predicted that the United States will lead the global economic recovery, partly due to productivity gains stemming from recent advances in technology.
"You will see a stronger recovery than most people think because of those productivity gains," Capellas told attendees of the Progress & Freedom Foundation's annual summit in Aspen, Colorado.
Capellas' talk came after HP's stock had closed down 49 cents at $14.51 on the New York Stock Exchange. |
