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Economic Crisis Brings New Set of Hazards: CEOs

CEOs and other executives at the World Economic Forum in Davos, Switzerland, shared their insight on the financial crisis, the markets and the economy with CNBC.

Wall Street's Winter Blues

“I think it’s chagrin that most of us didn’t predict this a year ago, but I think it has a good side to it. This kind of mood may stimulate better thinking. We were too self-congratulatory a year or two ago.”

- Robert Shiller, MacroMarkets Co-Founder

Weathering the Storm

“You have to have stuff that people really want or you’re out, and therefore I think it is very important that this is a market that will not be very forgiving if you make mistakes.”

- Ben Verwaayen, Alcatel Lucent CEO

Fast Food: Recession Proof?

“From a Burger King perspective, I think we’re somewhat of a beneficiary, like McDonald’s or Wal-Mart , because we happen to be more at the value end of the chain, and we benefit from people trading down from fast casuals into our space, so while I wouldn’t say we’re recession resistant, I would say we certainly have probably a better shot than most.”

- John Chidsey, Burger King CEO

Advertising Amid a Financial Crisis

“It’s a very difficult time, but in order to survive and prosper in the long term, it’s all about innovation and branding.”

- Sir Martin Sorrell, WPP Group CEO

Soros on Bad Banks & Financials

"The storm that started in the financial system has now spread, in a very big way, to the real economy, which has fallen off the cliff following the Lehman thing."

- George Soros, Soros Fund Management Chairman

Energized in the Mountains

“Capital is the lifeblood of our industry…I continue to worry about the capital formation process around the world and in our country in the future.”

- James Rogers, Duke Energy Chairman & CEO

Forbes on Stimulating the Economy

“Everyone wants to be Franklin Roosevelt when they come into office and do a lot of stuff in 100 days to show you’re an action president, and that’s fine, but when you’re spending $800 billion dollars and have no idea how you’re going to spend it…then you’re just asking for a real mess. If they want real, immediate stimulus, what they should have done is cut the payroll tax in half.”

- Steve Forbes, Forbes CEO

Mountains of Doom

“For now, the only light at the end of the tunnel is the one of the incoming train wreck…it’s the worst financial crisis since the Depression, the first global synchronized recession in decades and it’s going to get worse.”

- Nouriel Roubini, RGEMonitor.com Chairman

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