Wednesday, November 19, 2008

Local biz titans see little econ improvement ahead

Crain's:
Business leaders are confident that the economy isn’t going to pick up anytime soon, but they are less certain that it won’t get worse.

“It’s an unprecedented time,” said Thomas Pritzker, chairman of Global Hyatt Corp. “The guess is how deep of a recession and is it going to be a depression.”

He shared that perspective Wednesday at a discussion sponsored by the Chicago Council on Global Affairs and moderated by former Federal Reserve Bank of Chicago President Michael Moskow.

Mr. Pritzker was joined by Gordon Segal, chairman and founder of Crate and Barrel, and Thomas Wilson, CEO of Allstate Corp. The group was cautious about predicting the future and stymied in providing a solution to goose the economy.

“It’s above my pay grade,” Mr. Pritzker said.
Also from Crain's, Sara Lee plant on the South Side to close.

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