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1st Quarterly Newsletter 2009
IFR Robotics and Economical Worldwide Downturn
The economical worldwide downturn is still going on, with no real signs of light at the end of the tunnel. The announcement that General Motor's CEO was asked to step down, sent another shockwave through Wall Street. The financial crisis has affected the global economy to a greater extend than expected. A recovery depends on a large extent of the banks and their willingness and ability to provide financing, which requires substantial government loans and support. This can still take a long time. In addition, the consumers' confidence is severely hurt and will take time to rebuild.