CFOs Unimpressed by Obama Stimulus Plans
U.S. finance chiefs are mostly unimpressed by the Obama Administration's efforts to stimulate the economy, but optimism about their own companies increased slightly for the first time in three years, a survey reported Wednesday.
A majority of CFOs, 58 percent, said their confidence in economy has weakened since Obama's inauguration on January 20th, according to the quarterly survey conducted by Financial Executives International (FEI) and Baruch College's Zicklin School of Business.
The survey, which interviewed 334 corporate CFOs earlier this month, found optimism about the U.S. economy at an all-time low, with eight of 10 executives expecting no signs of a recovery until at least the first half of 2010.
Among these, a third predict a recovery is even further away, possibly starting only in 2011.
A third of CFOs think the Obama stimulus package will aid the economy, while 21 percent expect it to benefit their own companies, the survey found.
"CFOs have many of the same apprehensions about President Obama's policy proposals as they had about candidate Obama's policy platform," said Marie Hollein, president and CEO of FEI.
http://www.cnbc.com/id/29878551
The only people who like this plan are bHo and the companies that will buy these toxic assets and pass them on to us, at least that's the feeling I'm getting from all that I've read. I feel like I'm having a scam run on me and that makes me leery about getting back into the market big time and this article just adds more to my apprehension that we're not being told the full story.
CB
