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Saturday, June 15, 2024

Obama meets with big biz honchos


President Barack Obama met Friday with top executives at marquee US firms like American Express and Johnson & Johnson, with the country’s economy struggling and global markets prone to wild swings.

“The president appreciated the thoughtful exchange of ideas and the private sector’s shared commitment to improving our economy,” the White House press office said in a statement after the hour-long, closed-door discussion.

The group included top executives at Xerox, American Express, US Bank, BlackRock, Silver Lake Partners, Wells Fargo, US Steel, and Johnson & Johnson, according to a White House official, who requested anonymity.

Obama’s bid for reelection in November 2012 will likely hinge on his handling of the dismal US economy, which has struggled with unemployment at about nine percent as it claws its way up from the 2008 global collapse.

“The president firmly believes that every American who wants a job should have one, and businesses large and small must all be at the table as part of the collective solution,” it said.

Ahead of the talks, White House spokesman Josh Earnest said Obama relished the chance to talk to “leaders in the private sector, who will ultimately be the venue where our economic recovery is driven.”

“He’ll talk to them about how the economic challenges are affecting their individual companies, but also their broader sectors; and that this is an opportunity for that dialogue to take place,” said the spokesman.

Asked whether the meeting was in response to global market upheaval, Earnest replied: “I would not describe those meetings as a reaction to that, but I’m confident that they will be discussing those kinds of things in the meeting.”

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8 thoughts on “Obama meets with big biz honchos”

  1. I think this meeting is the first sign that American Business has figured out that another four years of Obama would offer a more stabile business environment than letting the Republicans have their way (led by the Tea Party folks). The threat of default, downgrade, and subsequent market crash all are very strong indicators of instability. Business hates instability, and that seems to be what the Tea Party wants. They would love to see spending cuts, but default is horrifying to business that depends on contracts being honored and debts being paid.

    Bachmann just won the Iowa straw poll, so business is going to defect to the Democratic side rather than support radicals like Paul or Bachmann.

    • I think this meeting is the first sign that American Business has figured out that another four years of Obama would offer a more stab[]le business environment than letting the Republicans have their way

      Interesting thought. Who met with whom, really? Who called this meeting? Who set the agenda? Honestly? Hmmm…

      And why do I suspect the headline item was ‘Repatriation capital tax holiday’?


  2. It’s all about image… zero needs honchos in his pocket to show off his business creds… I just wonder if they’ll have the gumption to expose his obvious pandering.

  3. You’re too darned nice about it Carl. I find myself searching for expletives but the worst that comes to mind is far too bland.

    American labor has gone down without so much as a whimper in protest, and is deserving of the table set before them.
    Not even a nationwide strike would cause a ripple in the pool of filth that rules beside the banks of the Potomac.
    It’s over for middle America, the Bastille is now and forever, impenetrable.

  4. What a joke…! The President meets with large company honchos whose main interest is in globalizing their operations if possible and abandoning the U.S. whether it’s manufactured items or outsourcing call center functions etc.

    The greater number of jobs in this nation are provided by companies with 25 employees or less; I.E., midsize to small businesses and not these global entities. In fact it’s in the interest of the global entities to see the dollar turned to the level of the Mexican peso in terms of buying power. That’s why our stock market keeps climbing in the face of the “dollar disaster” since the name of the game is globalism and marketing your products to the world. Great idea except it’s not a level playing field, but one that is skewed by arcane WTO, GATT trade regulations along with lobsided trade agreements putting the U.S. at a disadvantage in the world marketplace.

    Obama needs to host a seminar of mid to small business owners in this nation and ask them for advice and not tell them what our now seemingly failed government’s plans are for them. Just having the humility of admitting ‘Obamacare’ is a big mistake and push to eliminate provisions within the bill that price many businesses out of the market would be start. Obama & Co. are socialist to worse hyprocrites that don’t have a fingernail parings worth of entreprenuerialship within. Our entire government from the top down have become a cabal of blood-sucking degenerate apparatchiks and worse. It’s become too expensive to operate and no long serves “We the People”‘s needs effectively.

    I’ll provide a link to one hundred small companies in America. These are the entities that the administration should be working with in order to cut regulations and bottomline crushing fees and taxes. This goes for state and local governments too.

    Carl Nemo **==

    • Unfortunately, Mr. Nemo, the goals you desire in your last paragraph are awfully vague and somewhat contradictory to each other.

      All those pesky little regulations? They were all put in law because some company abused them, and caused their employees or customers death or serious injury. Pick a specific regulation that you think should be cut, then do a case search on how it came to be, and I suspect you’ll find someone died for that regulation.

      And recall what happened when the banks got “deregulated”, or the S&L crisis in the 80’s. All those regulations are in place to help ensure that the customer and the employee don’t get screwed. Deregulate, and either or both will.

      Again, saying “deregulate!” is like saying “Cut spending!” without actually saying which you’d cut. Be specific. Pick one regulation, and argue why it should be removed.

      Finally, “bottomline crushing fees and taxes”. I’m sorry, but fees are in lieu of taxes. There do have to be inspectors to make sure these companies are not actively trying to lock their fire doors or build buildings without them, and someone has to pay those inspectors.

      Cut taxes, fees go up. See just about every state budget in the last five years…


      PS – I concur with b mcclellan that (organized) labor has gone belly-up, and I believe that’s sad. They were responsible for quite a few regulations in their day and although their leaders did a very good job of enriching themselves (what leaders don’t?), they also provided a lot of middle-class folks with a living wage. J.

      PPS Oddly enough, one of those leaders who didn’t was Jimmy Carter, who I imagine holds all the respect of fresh cat barf in the sock drawer around here. J.

      • I’m somewhat perplexed by your comment that my last paragraph is somewhat vague.

        The companies that represent the DOW 30 are intensely global in focus. A devalued dollar is to their benefit, national interests be damned.

        They are successful as a function of a devalued dollar and tax laws that allow them to circumvent their fair share of paying rent concerning their corporate security etc. Instead they opt for a ‘suite box’ in the Cayman Islands to circumvent their fair dues (corporate taxes) that provides their corporate security under our superb stategic, nuclear umbrella.

        The focus of my rant is that no one is catering to the massive loss of jobs in this nation. They talk of this subject knowing full well the cause of such, but refuse to address the issue of globalism run amok along with their compromise of our nation state, the United States of America!

        I enjoy your rebuttals and posts Jon, but at times I get bit peavish when I detect a lack of introspection concerning our national plight and our sense of nation. / : |

        Carl Nemo **==

        • So you would say that the “Dow 30” companies actually need MORE regulation so they don’t do that? (Or, perhaps, that the existing regulations be enforced…)

          I would concur with you on that. The complexity of the tax laws are almost entirely due to special exemptions and loopholes, namely “deregulation”.


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