CEOs holding reins tight on spending, hiring

An economic recovery may be underway, but leaders of the nation's largest corporations are standing pat on spending money and hiring. A survey released this week shows that although chief executives expect increased sales in the next six months, they don't see enough demand to translate into greater capital expenditures or more jobs, according to the latest poll of CEOs by the Business Roundtable.

"Businesses depend on increased demand to drive capital investment and hiring," said Ivan G. Seidenberg, chairman of Business Roundtable, and chairman and CEO of Verizon Communications (VZ). "Right now, we're beginning to see sales trending up, but not to the level that translates into meaningful gains in capital spending or jobs."