Power Breakfast: Meek recovery, airport, Chick-fil-A, Pfizer, health care
Georgia’s business and economic heavyweights weighed in on the economy to say that we appear to be inching out of this recession.
“Bad is not good until worse happens,” Home Depot CEO Frank Blake told about 700 people Wednesday at Emory’s Goizueta Business School, AJC reporter Michael Kanell writes.
Aflac CEO Daniel Amos said: “I think we’re off the bottom. I’m not sure we’re back where we want to be.”
And Dennis Lockhart, president of the Federal Reserve Bank of Atlanta, said “we are in the beginning of a recovery, a technical recovery, which means that there will be some growth.”
But, he added, the recovery will be sudued and “unemployment will still be frustratingly high,” Kanell reports.
Also in the AJC:
- Foreclosure averted on Forum in Norcross
- Energy makeovers to save state $15 million
- Airport employee accused of embezzlement
- Wear sports gear, get free Chick-fil-A
In other media:
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2 comments Add your comment
Shadow 7071
September 3rd, 2009
5:03 pm
Politically correct optimism on the part of each of these business leaders. How can you honestly stand before a group and say that this recession is over when unemployment is historically high, persists at this level, and is forecast to rise even further. We’re in a Brave New World of business and work and these so called technical econometric stats just don’t cut it any longer. They’re based on the old business models which are now out the window. Look around. See what’s really happening. High unemployment, businesses continue to close, banks continue to fail, people continue to lose their jobs, people are dipping deep into savings, real estate prices are depressed, real estate sales are depressed, retail sales are down. Got to the mall and count the empty store fronts. Go to the mall and count empty parking spaces. These are the REAL stats. They tell the REAL story. No, it’s pretty clear that we’re not coming out this thing anytime soon. People are afraid, banks are afraid, businesses are afraid and even people in the government are afraid. Politically correct comments by business leaders are a disservice to each and every one us. If we are to come out of this thing we’ve got to attack head on with serious business actions not politically correct sounding platitudes.
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