Credit still tight even for large corporations - Washington Business Journal: Washington Bureau

zlatkopaisley1275.blogspot.com
Most chief financial officers said their accessto short-time credit has not changed much sincse the beginning of this according to AFP. Nearly 30 percent said credig isless available, while only 14 percentf said access to credit has improved. About 70 percenr have reduced capital spending and reduced or frozen hirin g since credit markets frozelast September. Nearly 60 percent have considere d orimplemented layoffs. The good news is that 74 percengt believe credit markets will begi to ease by the end ofthe year.
"Despits unprecedented government action, the lack of any significantr thawin short-term credit access is extremely and many companies are reacting by stockpilingv cash," said AFP Presideny and CEO Jim Kaitz. "While many organizationas with their strong cash positions willbe well-positione once the economy begins to improve, overall economic conditiona will not improve until organizations can begin using theitr cash in activities that foster For more information, see