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Survey says: Recession to Linger Longer

SEATTLE-Results of The Feary Group CFO Survey are in, and they suggest economy may take longer to bounce back than originally predicted. The survey also reveals that many companies maintain they would relocate if certain problems, such as traffic congestion and taxes, are not addressed.

By Gina Binole | Updated on October 25, 2002

SEATTLE-A recent survey suggests the recession will linger until 2004 and that companies will consider relocating if public problems are not solved.

The Feary Group CFO Survey, conducted in conjunction with the Economic Development Council of Seattle & King County, surveyed CFOs of publicly traded companies headquartered in the greater Puget Sound area during the past three weeks.

“While the majority of responding CFOs believe the recession will linger until the first half of 2004 or later, there are some encouraging signs of recovery among the responses,” says Scott Selby, senior vice president of The Fearey Group. “But the real surprise is that 25 percent of the respondingCFOs said not solving problems such as traffic and the tax structure could cause their companies to relocate.”

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