Thursday, October 23, 2008

TiE Florida's "The Global Financial Crisis" Conference

Last night I had the great pleasure to attend TiE Florida's "The Global Financial Crisis" conference in Fort Lauderdale. A few noteable quotes from the evening:

M. Ali Ansari

"Going back to the Great Depression every 5-7 years there is an economic crisis. The only difference is in the magnitude."

Jeff Settembrino
"Hold inventories in the hopes of a recovery is foolish. Margins are theoretical. Cash is real. Clear out inventory to keep money flowing into the business. Growth costs money."
Professor Anita Pennathur, PhD

"The increase by the FDIC has changed the landscape and it will only increase risk. The moral hazard has not been deterred but increased."

So to summarize the evening: We are in for at least another two years of misery before we start seeing some light at the end of the tunnel.

All quotes are from my notes so there might be some paraphrasing. It was a wonderfully instructive evening. My thanks to TiE Florida for the event.