Ameircan corporate executiuves worried about sinking dollar
Special Correspondent
Oct. 19, 2009

The dollar has fallen to a 14-month low; and while a weaker dollar makes U.S. products cheaper overseas,US chief executives expressed deep concern that the anemic dollar signals serious jitters.

"The issue is currency devaluation, and the worry is that it essentially lowers our credibility in the world," said Office Depot Inc (ODP."I have very significant concerns that unless we modify the current (spending) strategy, we will see inflation and a further reduction of the dollar," said PG&E Corp (PCG.N) CEO Peter Darbee. "The current move in the dollar is an early indication that others in the world expect the same thing. That's why there's a beginning of the movement away from the dollar as a store of value."

"We need to return to fiscal responsibility," added Office Depot's Odland. N) CEO Steve Odland.

Ameircan corporate executiuves worried about sinking dollar
Special Correspondent
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