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Share Name | Share Symbol | Market | Type |
---|---|---|---|
CAT Strategic Metals Corporation | CSE:CAT | CSE | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.005 | 100.00% | 0.01 | 0.005 | 0.01 | 0.01 | 0.01 | 0.01 | 14,000 | 14:30:00 |
Most U.S. companies are holding prices steady and see the outlook as flat or inflationary, according to an influential survey of chief executives released Thursday.
The semiannual survey by The Business Council also showed 40% of senior executives see the domestic recession lasting into 2010, though 60% see a recovery by the fourth quarter.
Business conditions have deteriorated in all regions since its last survey was released in October, said the council, based in Washington D.C., an invitation-only grouping of more than 100 CEOs presently chaired by Jim Owens, chairman and CEO of Caterpillar Inc. (CAT).
"Our members have lost faith in many of the institutions that we need to deal with on a daily basis," said Jamie Dimon, vice chairman of the council and chairman and CEO of JPMorgan Chase & Co. (JPM).
Dimon, in his introduction to the latest survey, also noted "a perception gap between how we, as business leaders, view our own performance during this crisis and how the public sees us."
"It is important that we work to restore trust in our organizations, our institutions, and ourselves," said Dimon.
The majority of members expect to hold pricing steady despite the depressed demand environment "and expect that the future pricing environment will either remain as it has been or become more inflationary".
Only 7% see more deflation, with 45% forecasting "more inflation than in the past".
All 71 respondents to the survey, which closed Jan. 21, said business conditions had worsened in Asia since the last poll taken ahead of the bankruptcy of Lehman Brothers.
More than 90% said conditions had deteriorated in every other region, and half viewed the outlook as negative for their own industry.
The council's index of U.S. business confidence fell to 25.9 in the latest survey compared with 32.1 in October. Readings below 50 indicate negative expectations.
More than half the CEOs polled see the U.S. economy contracting by 2% to 4% this year, and 40% expect the recession to continue into 2010. Three quarters see more downside in the domestic housing market.
With most members expecting profits to decline year-on-year in 2009, the focus on cost cutting will see 58% lay off workers, and 45% reducing inventories.
Almost a third of respondents said they were looking for merger and acquisition opportunities.
-By Doug Cameron, Dow Jones Newswires; 312-750-4135; doug.cameron@dowjones.com
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