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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: MythMan who wrote (350316)	12/5/2007 7:10:08 PM
From: Giordano Bruno	Read Replies (1) of 436258

CFOs See Glass Half-Empty The latest Duke University/CFO Magazine outlook survey of chief financial officers found their optimism plunged to the lowest point yet in the survey’s six-year history. “This is dramatic because CFOs have a track record of accurately predicting future economic activity, and their predictions run one or two months ahead of other common economic indicators,” said John R. Graham, director of the survey and a finance professor at Duke’s Fuqua School of Business. The global survey of CFOs at U.S. companies concluded Nov. 30 and generated responses from 1,275 officials, including 573 from the U.S., 191 from Europe, 308 from China, and 203 from elsewhere in Asia. According to the survey results, “Pessimists outnumber optimists by an eight-to-one margin, with 72% of CFOs more pessimistic and only 9% more optimistic about the U.S. economy than they were last quarter.” Other findings from the survey: Credit conditions have directly hurt one-third of companies Weak consumer demand, high labor and fuel costs, and credit market turmoil are the top concerns of CFOs Domestic employment will increase only 0.5% Nearly 40% of respondents believe a recession will begin in 2008 The stark pessimism of the survey is a contrast to the latest survey of chief executive officers conducted by Business Roundtable, which found CEOs are more optimistic about their business over the next six months now than they were in September. –Kelly Evans

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