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Is Recession is near -- That's what Ceo's are thinking



James S. Tisch, chief executive of Loews, the hotel, insurance and industrial conglomerate, said on an earnings call with analysts last week that his “fearless forecast” was for recession, but not one that would be as “cataclysmic as ’08 or ’09.” When asked by an analyst how a potential recession might affect sales at Starbucks, the coffee chain’s interim chief executive, Howard Schultz, said, “We’re highly concerned and humbled by the environment.” And William J. Hornbuckle, the chief executive of MGM Resorts International, told analysts last week that he and his executives were “not blind,” and that they “remain keenly aware of the impact of inflation” and the potential that the economy was headed for a downturn. It’s customary for large public companies to hold conference calls with analysts after they report their earnings. Of the 409 companies listed on the S&P 500-stock index that have held analyst calls to discuss the most recent quarter, the R-word came up as a topic 165 times, according to Sentieo, a market data provider. A year ago, “recession” was uttered on 42 earnings calls by S&P 500 firms for the third quarter. Discussions about a recession have been elevated throughout this year, with big year-over-year jumps in the first and second quarters as well.
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