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Every year, the world's elite converge on Davos, a Swiss mountain village, to discuss the world and what they want to do to it. We're not invited but we end up paying the price for the mistakes that Davos Man makes. This year, Davos Man is feeling weepy. Let's hope that doesn't lead to a year of inaction on the world's pressing problems.
PriceWaterhouseCoopers (PWC), which is now famous for not catching a fraud of epic proportions at Satyam Computer Services (NYSE: SAY), has done a survey of Davos attendees which gives a flavor for just how pessimistic they are. It found that only 20% of 1,124 CEOs in 50 nations said they were very confident about prospects for revenue growth in 2009, down from half last year, and 25% said they were pessimistic -- this is the most gloomy result since PWC began tracking the CEO outlook in 2003.
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