Description:  The economist who accurately predicted the recession says unemployment will peak between 10% and 11%.

Source: CNNMoney – video report
 
Date: 10/06/2009

Keys:  Financial environment (p27), Working capital management (p.461), Cash flows (p355)

Link: http://money.cnn.com/video/news/2009/10/06/n_ss_roubini_earnings.cnnmoney/index.html

Questions for discussion: 

• Summarize Rouini`s forecasts and explanation for business conditions in general and for the financial services industry in particular.
• How should a financial manager in the hard hit industries he mentions react to this forecast with respect to strategic plans, employment, capital budgets, etc? Explain your answer.