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To: mishedlo who wrote (206765)	11/25/2002 8:10:30 PM
From: Haim R. Branisteanu	Respond to of 436258

Cross Off 2003, Say CFOs CFOs, CEOs, and the OECD don't see a recovery until 2004; finance chiefs say they'll keep on cutting. Stephen Taub, CFO.com November 22, 2002 For those hoping the economy will turn around in 2003, here's some bad news. CFOs think next year will be just about as bad as the current model. Indeed, more than two-thirds of middle-market chief financial officers believe that in 2003, the economy either will stay flat, act erratically, or decline further. This according to an American Express survey of 485 middle-market CFOs. As a result, the finance executives see managing indirect costs as one of the biggest challenges to improving their overall financial health in the coming year, reports Amex. "With cautious to negative economic expectations, most senior financial managers polled in our survey will rely on containing costs as much as growing revenue to maintain the financial health of their organizations during the next year," said Anre Williams, senior vice president and general manager (U.S. middle market) of American Express Corporate Services.................................. Further proof of the lousy economy: the Organization for Economic Cooperation and Development (OECD) reported in its November Economic Outlook that the U.S. economy would not pick up until 2004. cfo.com