Global CFOs Predict Continued Staggering Pain and Loss

The Economic Times highlights a Duke University/CFO magazine study today and the news is not good. CFOs around the world expect the recession to last well into 2010. Surveyors reported "record levels of gloom."

Among the industries surveyed, service and consulting firms forecast the strongest earnings in 2009, followed by health-care companies. But the rest of the industries out there are not so hopeful. American CFOs said their companies were planning dramatic cuts in employment and in spending over the next year, with anticipated layoffs of nearly 6 percent of their workforces - a loss of 7.6 million jobs. More than half said their firms expected to freeze or cut wages, according to the Economic Times.

Those polled say earnings of publicly-held companies over the next year will drop by 22 percent in the United States, 11 percent in Europe and 9 percent at Asia. On a scale of zero to 100, US respondents rated the economic outlook at an all-time low of 40. European CFOs put it at 43 and Asian respondents at 47.

And while most U.S. respondents expected the recession to last another 14 months, European CFOs said it would last 16 more months and Asians another 13 months. Where will see the biggest cuts? Global CFOs say they expect capital spending and spending on technology, marketing and advertising to drop.

But what do you think? When will the recession end? Email and let us know.

How getting in sync with your partner can lead to increased intimacy and sexual desire

Researchers discover a link between nonverbal synchronization and relationship success.

Sex & Relationships
  • Scientists say coordinating movements leads to increased intimacy and sexual desire in a couple.
  • The improved rapport and empathy was also observed in people who didn't know each other.
  • Non-verbal clues are very important in the development stages of a relationship.
Keep reading Show less

How humans evolved to live in the cold

Humans evolved to live in the cold through a number of environmental and genetic factors.

Image source: Wikimedia Commons
Surprising Science
  • According to some relatively new research, many of our early human cousins preceded Homo sapien migrations north by hundreds of thousands or even millions of years.
  • Cross-breeding with other ancient hominids gave some subsets of human population the genes to contend and thrive in colder and harsher climates.
  • Behavioral and dietary changes also helped humans adapt to cold climates.
Keep reading Show less

Stan Lee, Marvel co-creator, is dead at 95

The comics titan worked for more than half a century to revolutionize and add nuance to the comics industry, and he built a vast community of fans along the way.

(Photo: GABRIEL BOUYS/AFP/Getty Images)
Culture & Religion
  • Lee died shortly after being rushed to an L.A. hospital. He had been struggling with multiple illnesses over the past year, reports indicate.
  • Since the 1950s, Lee has been one of the most influential figures in comics, helping to popularize heroes that expressed a level of nuance and self-doubt previously unseen in the industry.
  • Lee, who's later years were marked by some financial and legal tumult, is survived by his daughter, Joan Celia "J.C." Lee.
Keep reading Show less