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7 Bumps

Ceo's speak out. Do you agree?

As CNET news reports, Otellini said that at one time "no country was more attractive for startup capital ... We seemed a generation ahead of the rest of the world in information technology. That is simply no longer the case."
The Intel chief was harsh on the massive spending by the White House and Congress and on the failure to extend the Bush tax cuts, the takeover of the health care industry, and the threat of new taxes on businesses to remove carbon from the atmosphere.
"I think this group does not understand what it takes to create jobs," he said. "And I think they're flummoxed by their experiment in Keynesian economics not working."
If America's ruling class keeps going down this road, "people will not invest in the United States. They'll invest elsewhere."
Intel, the world's leader in semiconductor technology with $35 billion in sales and nearly 80,000 employees, is a good example.

Answer Question

Asked by Carpy at 9:11 PM on Sep. 12, 2010 in Politics & Current Events

Level 39 (114,053 Credits)
Answers (12)
    "I can tell you definitively that it costs $1 billion more per factory for me to build, equip and operate a semiconductor manufacturing facility in the U.S.," he said. And 90% of that added cost, he said, is due to taxes and regulations that other countries don't have.
    Otellini isn't alone in his frustration.
    Earlier in the week, Illinois Tool Works CEO David Speer, whose company employs 60,000 worldwide, laid out his dilemma and that of hundreds of other CEOs: "I could borrow $2 billion tomorrow for 3 1/2%," Speer said. "But what am I going to do with it?"
    Good question. Money is cheaper and more plentiful than it's ever been, especially for big corporations. But they're all looking in their crystal balls and see little but gloom.

    Comment by Carpy (original poster) at 9:14 PM on Sep. 12, 2010

  • The anger's been building. In June, Ivan Seidenberg, CEO of Verizon Communications and head of the Business Roundtable, warned of a growing anti-business slant in both Congress and the White House. Tax hikes, regulations and constant policy shifts, he said, "harm our ability ... to grow private-sector jobs in the U.S."
    Businesses make investment decisions based on the outlook three, four, five, even 10 years down the road. Even with 3% money, they can't make projects pencil out. They're just too risky now.
    Not hard to see why Over the next decade, businesses expect soaring government spending, $13 trillion added to our national debt, more regulations, higher taxes on individuals, investors and businesses, and, oh yes, new laws that impose strict new rules on entire industries as has already happened to Wall Street, the auto industry and health care.
    And that catalogue of concern doesn't

    Comment by Carpy (original poster) at 9:20 PM on Sep. 12, 2010

  • Now Carpy, you know these are just "greedy rich people" trying to hang onto their money. What they say isn't true, they just don't want to share.... or something along these lines! Nobody gives a rip that somebody on Welfare never created a job.

    I do believe these CEO's are spot on though.


    Answer by yourspecialkid at 10:17 PM on Sep. 12, 2010

  • Yes. I do. Financially penalizing the demographic that hires in a recession with extra penalties for actual production (hello, cap and trade?) just doesn't make a darn lick of sense.

    No wonder companies want to stay away from us.

    Answer by lovinangels at 10:36 PM on Sep. 12, 2010

  • Yes, I totally agree!

    Answer by DSamuels at 10:59 PM on Sep. 12, 2010

  • "And I think they're flummoxed by their experiment in Keynesian economics not working."



    Answer by grlygrlz2 at 11:40 PM on Sep. 12, 2010

  • Government is not a solution to our problem, government is the problem.

    Nations crumble from within when the citizenry might better provide for itself.

    Governments view of the economy could be summed up in a few short phrases. If it moves, tax it. If it keeps moving, regulate it, and if it stops moving, subsidize it.

    Government is like a baby. An alimentary canal with a big appetite at one end, and no sense of responsibility at the other

    President Ronald Reagan.


    Answer by Natesmom507 at 2:26 AM on Sep. 13, 2010

  • Governments view of the economy could be summed up in a few short phrases. If it moves, tax it. If it keeps moving, regulate it, and if it stops moving, subsidize it.


    If it leaves town,  kill it!                   bouncing


    Answer by mustbeGRACE at 3:41 AM on Sep. 13, 2010

  • i'm very confused by these statements. i feel like the country is in this situation because there were no limits on the amount of import of product and export of jobs. the steel industry started failing when auto companies started purchasing cheaper steel from china, this affected many, many u.s. jobs as well as producing inferior products. the whole steel area started to become devastated. then all the customer service and data entry jobs (never mind good old sweatshops) that were sent out of the country not just for cheap labor but for TAX BREAKS. when we don't recirculate american needs in the u.s. in the form of products, services, and jobs, what did they think would happen??? what is needed is to stop all the b.s. and take care of the needs of the american people by stopping these crazy practices and taking care of our own (e.g. healthcare - aside from the shady bank practices... people going into debt over health)

    Answer by figaro8895 at 6:50 AM on Sep. 13, 2010

  • Small business, that is!!!!!!!!!!




    Answer by mustbeGRACE at 7:21 AM on Sep. 13, 2010

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