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Three CEOs: Global Recession Not Likely
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The slowdown in the U.S. economy is causing a sense of nervousness among investors around the globe.
CNBC asked CEOs from three of the world’s most renowned international corporations whether the global economy was likely to catch cold from the United States, and here’s a sampling of what they had to say:
Sony CEO on the Global Economy
“I think there’s panic out there, and panic begets panic. There aren’t, in real terms, any results that we’re showing that would indicate a panic is necessary in the immediate term. The consumer electronics business had a very good Christmas, and nothing is going downhill at the moment, and the entertainment business is in pretty good shape. So whether that’s the last gasp of the current customer concerns, I don’t know, but it’s hard for me to be suicidal along with everybody else when things aren’t looking so bad in that sector.”
Howard Stringer, Sony Chairman & CEO [SNE
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UTX CEO: Overreaction in the Markets
“I think we’ve got strong market reaction to obviously the subprime problems and some bank write-offs in the financial service sector and so forth, and I think people are spring-loaded to look for bad news, and I think there’s a real risk here of overreaction in the markets. We don’t see this at all in the industrial economy, either in the U.S. or worldwide.”
George David, United Technologies Chairman & CEO [UTX
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Coca-Cola CEO: Global Recession Not Likely
“I think consensus is, and it would be my view, that there’s better than a 50% chance the U.S. is going to go into recession. The big question is the big R: Is there going to be a global recession? The general view on that is, provided the policy makers, and so far I think the policy makers have handled things very well, handle things well, there’s not going to be a major contagion. I cannot say there’s not going to be an effect, given the size of the U.S. economy and the linkage to the world.”
Neville Isdell Coca-Cola Chairman & CEO [KO
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Data is a real-time snapshot *Data is delayed at least 15 minutes
