No Stopping on 9/11

Discussion
Sep 09, 2003
George Anderson

By George Anderson

What do you remember about Sept. 11, 2001?

Scott Bushkie, owner, Cornerstone Business Services, remembers, “everything just absolutely stopped.”

Coming up on the second anniversary of the terrorist attacks, businesses that had “stopped” spending are beginning to move forward again, reports the Associated Press.

Sung Won Sohn, chief economist for Wells Fargo & Co. told the AP, “We are continuing to see terrorism around the world, and that clearly is a concern on the part of many businesses, but I don’t think businesses are holding back spending simply because they are afraid of another terrorist attack.”

Mark Zandi, chief economist at Economy.com disagrees. “The No. 1 concern for most businesses is still the potential for another terrorist attack. But nobody talks about it because they think they’ve done all they can to prepare for it — investing in security, new technologies, redeploying people and assets, restructuring the way their work is done.”

Moderator’s Comment: How did September 11, 2001 impact your business? What is your assessment of the business climate
coming up on the second anniversary of 9/11?

September 11 did bring many business and other everyday activities to a stop. We think it’s important to remember, however, that the economy had slowed
considerably prior to 9/11. We should never trivialize the lives stolen and sacrificed that day by using 9/11 to rationalize poor business performance.
[George
Anderson – Moderator
]

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