Kim Coghill of Reuters yesterday afternoon interviewed several ceos on how they are handling the financial woes affecting many institutions. Here's Autodesk ceo Carl Bass:
Engineering software maker Autodesk reckons "procrastination" is a prudent business strategy, and is holding off on executing long-range investment plans as customers scramble for cash amid the spreading global credit crunch. Autodesk, which includes nearly all the Fortune 500 companies as clients, was preparing for the worst as global recession loomed, Bass said.
"Credit is certainly drying up for customers," Bass said. "If you don't have the credit to buy inventory and make payroll, you're not going to be buying software."
What other CEOs had to say:
- Rescuing banks sets a bad precedent -- HSBC Holdings ceo Michael Geoghegan
- Markets may return to normal in 12-18 months -- Commonwealth Bank of Australia ceo Ralph Norris
- Delay investments -- Thai Airways president Apinan Sumanaseni
- Focus on paying down debt -- Ruby Tuesday ceo Chief Executive Sandy Beall
And for a few good laughs, read Carl's plan at the following link, which quite appropriately (if you ask me), was paired up with the 'Egg and Muffin Toaster - gadget of the week'.
http://online.barrons.com/article/SB122367848563324449.html
Posted by: Tony Tanzillo | Oct 18, 2008 at 07:23 PM