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  • plmartin_2012 plmartin_2012 Nov 19, 2012 2:31 PM Flag

    In Dec., Let's See Santa's First Unemployment Numbers Report Since Being Re-elected on Nov. 6th By the Smart People


    Wall Street Journal - 11/19/12

    U.S. employers are scaling back investment plans at the fastest pace since the recession began. Half of the nation's 40 biggest publicly traded employers have announced plans to curtail capital expenditures this year or next, according to a review by The Wall Street Journal of securities filings and conference calls.

    Companies say they are slowing or delaying big projects to protect profits amid rising uncertainty around the U.S. elections and federal budget policies. "The whole world is looking for stability and clarity from the United States," said David Seaton, chief executive of Fluor Corp., a large engineering and construction employer. If uncertainty isn't removed, he said, "people will sit on their war chests of cash and return it to shareholders."

    The latest survey by the Business Roundtable, which tracks expectations for sales and investment among its big-company CEOs, found the worst sentiment about the economic outlook in three years.

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