• November 6, 2008

Chief Executive magazine says its CEO Confidence Index plunged to a record low in October, based on polling that followed the approval of the bailout plan in October.

"We have seen a precipitous decline in CEO confidence since last summer, but we have never seen confidence drop so sharply and dramatically during one polling cycle," the company says in its release, with 67.6% of the survey expecting employment to drop. The magazine is predicting that unemployment may reach as high as 7 to 8%.--Sarah Mahoney