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With numerous media moguls, CEOs and political figures gathering in Sun Valley, Idaho, to discuss media, technology, the economy and deal-making at the annual Allen & Company media conference, CNBC sat down to interview several executives:
Signs in the Economy
“There are a lot of things that are over the horizon that could really be damaging. Commercial real state is a big one, unemployment, consumer confidence its still an issue and availability of credit. So you have a lot of things that say lets continue and hold and hope for the best, but not enough to say we can turn this thing around.”
-Robert Johnson, founder of RLJ Companies
Investing Actively
“We are actively investing through the cycle, turns out that as we look back on our 15 years of history we had the most success when we invested in down cycles. We are optimistic from that perspective, having say that, the bar is higher.”
-James Robinson, RRE Ventures managing director
Optimistic about video games but not the economy
“While I am relatively pessimistic about the economy, I am very optimistic about the availability for video games to satisfy entertainment needs of consumers. Video games is a very low cost form of entertainment, if we look at the dollar cost per hour is probably the most efficient form of entertainment that you can buy.”
-Robert Kotick, CEO of Activision Blizzard
The recovery will not be easy
“I am bullish on America because of our ability to innovate, think outside of the box, try things new, the history of our country is a perpetual testimony to the achievement of the impossible. But anybody who thinks this is easy or that a recovery is just going to roll on the wheels of inability, are wrong. We have to do lot things to make our economy work and specially to make investments for longer-term success through the end of this.”
-Cory Booker, Newark, NJ mayor
The Global Economy
“There has been a set back and there continues to be a smaller set back if things don’t pick up. But the huge demand for infrastructure, for basic needs is a completely different story than the developed world. Where so much has capacity has been created in housing various products so that gives us a cushion for one or two years. But if the problem sustains longer, nobody knows.”
-Nassef Sawiris, Orascom Construction Industries CEO
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Data is a real-time snapshot *Data is delayed at least 15 minutes