State News

Charlotte business leaders talk about 'nuclear winter' impact of economy

Posted December 18, 2008

— Business leaders in Charlotte are meeting over lunch to talk about the recession's impact on the technology industry.

The underlying concern behind Thursday's discussions at the Marriott Charlotte City Center is whether technology is facing another deep freeze similar to the days of the dot-com bust.

The North Carolina Technology Association is putting on the "nuclear winter" discussion.

The main issue is whether the financial crisis and closed-off credit markets risk hurting stockholder-owned companies trying to grow, or those considering going public.

The groups hosting the event include the New York Stock Exchange and the Charlotte Chamber of Commerce.

The NYSE's managing director for initial public offerings, Carolyn Saacke, is the lunchtime speaker.

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  • DontLikeTheSocialistObama Dec 19, 2008

    Capitalism in it's pure defintion would have survived with no problems. The problem is that the United States has allowed it's economy drift from capitalism towards socialism. With high taxes, excessive government spending, socialist wealth transfer programs, etc... it's no wonder the United States economy is collapsing.

  • BigBrokeBill Dec 18, 2008

    Made ya' look, didn't they?

  • Beachnut Dec 18, 2008

    It will be interesting to see NC govt's reaction to the economic meltdown. Since they are incapable of cutting anything, their only recourse is to raise taxes somehow, futher straining the state economy, leading to further economic collapse. A death spiral? The "failure of capitalism" looks more like the "corruption of capitalism" to me.

  • bs101fly Dec 18, 2008

    how about some coverage on how the state of NC plans to jack our home insurance rates 30+% effective immediately?

    Where's the coverage and following outrage on THAT?????

  • districtcadvocate Dec 18, 2008

    I googled on the concept of "Nuclear Winter" and found this article which I think sums up the idea pretty clearly.

    Derivatives

    A nuclear winter?
    Sep 18th 2008
    From The Economist print edition

    The fallout from the bankruptcy of Lehman Brothers

    http://www.economist.com/finance/displayStory.cfm?source=hptextfeature&story_id=12274112

    Personally I think we have yet to experience the full impact of
    Lehman Brothers demise and now the other shoe is falling via the automotive (big 3) matter.

    We witnessed the failure of the USSR under the weight of socialism and now have to wonder is the USA going to follow with the failure of capitalism.

  • wwwalker Dec 18, 2008

    Why did they use the term "nuclear winter?"