CEOs to Obama: 'Get Out of the Way' for Job Growth
63 replies, posted
CNBC
CEOs to Obama: 'Get Out of the Way' for Job Growth Wednesday, 7 Sep 2011 | 10:51 AM ET
[release]President Obama's highly-anticipated jobs package will be unveiled Thursday in front of Congress.
Ahead of the economic speech, an NBC/Wall Street Journal poll showed Obama's overall job approval rating at a low of 44 percent, down 3 percentage points since July, while his handling of the economy stands at 37 percent.
We asked several CEOs leading up to the speech what bold steps Obama could take to reduce the 9.1 percent unemployment rate.
John Schiller, chairman and CEO of Energy XXI, said "if the government would get out of the way, from a regulation standpoint, and let us [XXI] do what we do good you'll see us continue to hire and grow this economy."
"I think that's a message from across the board," said Schiller.
Richard Parsons, chairman of Citigroup
Citigroup Inc, told CNBC there are some specific things that can be done "in terms of moving government out of the way where its in the way of job creation."
"The President is trying to be pro-business. He's [Obama] trying to do what he can to work with the business community," added Parsons.
Joe Echevarria, Deloitte's new U.S. CEO stressed that growth comes from offering incentives to the private sector "through tax reform, regulation and responsible fiscal policy."
But it needs to be done in a "pragmatic" way with a responsible government and less politics," he said.
Heather Bresch, CEO of Mylan Labs, said unemployment is "tough to band-aid when it’s of such epic proportions."
"There needs to be a real recognition of what is job creation and that there’s a difference between a government job and a private sector job...We really need to step back and live within our means," added Bresch. "That’s a very tough pill for everybody to swallow and I think given the partisan of what Washington has become, they’re not putting America first."
Jon Faraci, CEO of International Paper
International Paper Co, told CNBC "to create jobs what we need is demand. This economy is 70 percent consumer driven, so we need consumers spending some of their discretionary income if we're going to have demand that's gong to lead to more jobs."
"If we get demand, we’ll put more shifts on, our employees will be working more hours, and we’ll hire more people. Without demand we can have all the certainty in the world and all the clarity about regulation, but to me it’s not so much about confidence as it is about demand," explained Faraci.
Indra Nooyai, chairman and CEO of PepsiCo [PEP 61.62 -0.83 (-1.33%) ], noted that "anything that's done to address unemployment in terms of massive stimulus spending is going to exacerbate deficits. And anything that's done to address deficits in the short-term is going to exacerbate unemployment."
Nooya went on to say we're in "a bit of a policy box and it's going to require us being willing to give up one of the two, which is it's okay to take on more deficits but lets put in some massive spending. Alternatively to say, 'we're going to go through structural unemployment for a while because we want to address deficits.'"
At this point I think we are all trying to address this conundrum by saying we have to address both sides, unfortunately there is no way out of this," Nooya added.[/release]
source: [url]http://www.cnbc.com/id/44409176[/url]
Oh boy a glaber thread.......
[QUOTE=bluesky;32172024]Oh boy a glaber thread.......[/QUOTE]
Oh boy a "oh boy a glaber thread" comment".........
"...let us do what we do good..."
obviously grammar is not on their agenda
Citigroup hates the government?
[url]http://www.nytimes.com/2008/11/24/business/24citibank.html?_r=1&hp=&adxnnl=1&adxnnlx=1227521075-7269NT+ly1OQy1ToM/cLMw[/url]
Thanks for the stimulus money. Now fuck off.
Cool. Those in the position to personally benefit the most from deregulation are definitely the people I trust to tell me about deregulation.
[QUOTE=Bobie;32172053]"...let us do what we do good..."
obviously grammar is not on their agenda[/QUOTE]
he probably owns a multinational corporation that nets millions of dollars in profit every month
humor him
[QUOTE=TropicalV2;32172069]he probably owns a multinational corporation that nets millions of dollars in profit every month
humor him[/QUOTE]
he can be god's son for all i care, without perfect grammar he is nothing
(heil)
[QUOTE=Glaber;32171967]CNBC
CEOs to Obama: 'Get Out of the Way' for Job Growth Wednesday, 7 Sep 2011 | 10:51 AM ET
[release]President Obama's highly-anticipated jobs package will be unveiled Thursday in front of Congress.
Ahead of the economic speech, an NBC/Wall Street Journal poll showed Obama's overall job approval rating at a low of 44 percent, down 3 percentage points since July, while his handling of the economy stands at 37 percent.
We asked several CEOs leading up to the speech what bold steps Obama could take to reduce the 9.1 percent unemployment rate.
John Schiller, chairman and CEO of Energy XXI, said "if the government would get out of the way, from a regulation standpoint, and let us [XXI] do what we do good you'll see us continue to hire and grow this economy."
"I think that's a message from across the board," said Schiller.
Richard Parsons, chairman of Citigroup
Citigroup Inc, told CNBC there are some specific things that can be done "in terms of moving government out of the way where its in the way of job creation."
"The President is trying to be pro-business. He's [Obama] trying to do what he can to work with the business community," added Parsons.
Joe Echevarria, Deloitte's new U.S. CEO stressed that growth comes from offering incentives to the private sector "through tax reform, regulation and responsible fiscal policy."
But it needs to be done in a "pragmatic" way with a responsible government and less politics," he said.
Heather Bresch, CEO of Mylan Labs, said unemployment is "tough to band-aid when it’s of such epic proportions."
"There needs to be a real recognition of what is job creation and that there’s a difference between a government job and a private sector job...We really need to step back and live within our means," added Bresch. "That’s a very tough pill for everybody to swallow and I think given the partisan of what Washington has become, they’re not putting America first."
Jon Faraci, CEO of International Paper
International Paper Co, told CNBC "to create jobs what we need is demand. This economy is 70 percent consumer driven, so we need consumers spending some of their discretionary income if we're going to have demand that's gong to lead to more jobs."
"If we get demand, we’ll put more shifts on, our employees will be working more hours, and we’ll hire more people. Without demand we can have all the certainty in the world and all the clarity about regulation, but to me it’s not so much about confidence as it is about demand," explained Faraci.
Indra Nooyai, chairman and CEO of PepsiCo [PEP 61.62 -0.83 (-1.33%) ], noted that "anything that's done to address unemployment in terms of massive stimulus spending is going to exacerbate deficits. And anything that's done to address deficits in the short-term is going to exacerbate unemployment."
Nooya went on to say we're in "a bit of a policy box and it's going to require us being willing to give up one of the two, which is it's okay to take on more deficits but lets put in some massive spending. Alternatively to say, 'we're going to go through structural unemployment for a while because we want to address deficits.'"
At this point I think we are all trying to address this conundrum by saying we have to address both sides, unfortunately there is no way out of this," Nooya added.[/release]
source: [url]http://www.cnbc.com/id/44409176[/url][/QUOTE]
But why would this be true when deregulation hasn't created jobs before?
Hmm, the energy CEO and the the bank CEO were the only ones to directly say "regulation is why we can't hire", I wonder if there's a connection here? Oh wait no I don't have to wonder, because I already know there's a god damn connection.
When did CEOs become the go-to guys for political advice? Obama shouldn't listen to them any more than he should listen to a 7/11 clerk as they both have the exact same background in politics
Well, when it takes to weeks to do anything because you need to fill out so much paperwork, it does cost a bit more money.
When you need to close one of your factories because it polutes to much, you have to fire some people.
Regulations hurt the economy.
[QUOTE=Zeke129;32172287]When did CEOs become the go-to guys for political advice? Obama shouldn't listen to them any more than he should listen to a 7/11 clerk as they both have the exact same background in politics[/QUOTE]
The 7/11 clerks weren't lined up around the block at the White House a few years ago begging for hundreds of billions in taxpayer money to save them from their own fraud and recklessness.
[QUOTE=Zeke129;32172287]When did CEOs become the go-to guys for political advice? Obama shouldn't listen to them any more than he should listen to a 7/11 clerk as they both have the exact same background in politics[/QUOTE]
Ah, but they know exactly what politics will make them money. Which makes them even worse at giving advice.
Although the International Paper CEO seems okay, and he's right in that giving the majority more money to spend mean they'll spend it. And it just so happens the majority is the working and middle class.
Well. I had no idea that there were severe regulations on the paper industry.
[QUOTE='[sluggo];32172306']Well, when it takes to weeks to do anything because you need to fill out so much paperwork, it does cost a bit more money.
When you need to close one of your factories because it polutes to much, you have to fire some people.
Regulations hurt the economy.[/QUOTE]
Are you saying polluting the planet so we can have jobs is actually worthwhile? Possibly destroying our home for that?
The red tape exists to slow things down, things that have consequences, economic and otherwise. Without relgulations, there would be so many actions happening, not all would be good and not all would work. We've seen what deregulation does to the banking industry. Are you suggesting a return? Your memory must be shorter than a stick.
Wow the corporations that benefit helped create the shitty situation we are in...Don't want help?
[QUOTE='[sluggo];32172306']Well, when it takes to weeks to do anything because you need to fill out so much paperwork, it does cost a bit more money.
When you need to close one of your factories because it polutes to much, you have to fire some people.
Regulations hurt the economy.[/QUOTE]
And what do you know about the specifics of regulation and running a business?
[QUOTE='[sluggo];32172306']Well, when it takes to weeks to do anything because you need to fill out so much paperwork, it does cost a bit more money.
When you need to close one of your factories because it polutes to much, you have to fire some people.
Regulations hurt the economy.[/QUOTE]
I would rather shut down a factory than, say, have mercury in my water or not be able to breathe when I walk outside.
Call me when we can eat money and breathe smoke.
"hey obama let us CEOs do whatever the hell we want! we're in this all for the good of the economy of course! the greater good! we only care about growth!"
hahah yeh imagine
[QUOTE=Desolategrunt;32172414]Wow the corporations that benefit helped create the shitty situation we are in...Don't want help?[/QUOTE]
Probably because the help that they got so far is like a little kid trying to help and instead makes things worse.
[QUOTE=Glaber;32172605]Probably because the help that got so far is like a little kid trying to help and instead makes things worse.[/QUOTE]
That statement's actually true, but actually standing up for these greedy corporate pigs shows that you lack any and all human decency. Where did you get the idea that just because Obama's not doing a very good job of solving the problem these corporations [b]caused[/b], the corporations must be right?
[QUOTE=Glaber;32172605]Probably because the help that got so far is like a little kid trying to help and instead makes things worse.[/QUOTE]
Except that the idea that somehow regulations were just so big that corporations simply could not help but lay off workers is complete nonsense.
so basically, CEO's formally told obama to fuck off.
well they can fuck off too
[QUOTE='[sluggo];32172306']Well, when it takes to weeks to do anything because you need to fill out so much paperwork, it does cost a bit more money.
When you need to close one of your factories because it polutes to much, you have to fire some people.
Regulations hurt the economy.[/QUOTE]
I'm not saying that [B]all [/B]of the red tape and regulation is needed, but some forms are.
do the ceos not understand how this works
obama can pretty much do nothing to "get in the way", there's kind of a congress that controls the budget and regulations
Glaber 2012!
[QUOTE=Used Car Salesman;32172326]The 7/11 clerks weren't lined up around the block at the White House a few years ago begging for hundreds of billions in taxpayer money to save them from their own fraud and recklessness.[/QUOTE]
I still don't understand that. I thought capitalism was sink or swim. But when the banks were in trouble all they did was cry for help from the government.
[QUOTE=Zeke129;32172287]When did CEOs become the go-to guys for political advice? Obama shouldn't listen to them any more than he should listen to a 7/11 clerk as they both have the exact same background in politics[/QUOTE]
around the time reagan came into power
Regulation insures stability.
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