by Calculated Risk on 12/03/2008 03:50:00 PM

From the Charlotte Business Journal: Charlotte CEOs see tough times, hope for recovery in 2009

Ken Lewis, CEO at BofA ... said he was hopeful conditions would improve in the second half of next year. He sees no bright spots for the economy before then.

“Times are really tough, and we don’t see any short-term rays of sunshine,” he told the more than 600 attendees at the Westin Charlotte hotel. When the panel was asked for advice on how to get through the next six months, Lewis recommended a conservative strategy of hoarding cash and capital and waiting for the storm to pass. “Think of getting through this as the primary objective,” he said.

Hoarding cash doesn't sound like lending ...