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Obama Meets With CEOs To Urge Them To Start Hiring - USA Today

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WillyT Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-15-10 09:57 PM
Original message
Obama Meets With CEOs To Urge Them To Start Hiring - USA Today
Obama meets with CEOs to urge them to start hiring
Updated 1h 23m ago
By Richard Wolf, David Jackson, Matt Krantz and Laura Petrecca, USA TODAY

<snip>

WASHINGTON Nearly five hours of top-level talks between the leader of the free world and the leaders of the corporate world Wednesday produced agreement on two fronts: They're making slow, steady progress toward a growing economy. And they've got a long way to grow.

At a meeting across Pennsylvania Avenue from the White House, 20 corporate leaders told President Obama that more consumer demand and less-burdensome government regulations still are needed before businesses can create millions of new jobs and reduce the 9.8% jobless rate.

In what both sides described as a cooperative session, the leaders of companies ranging from General Electric to Google applauded two moves the administration has made since what Obama has called a "shellacking" for Democrats at the polls Nov. 2: the compromise tax cuts package nearing passage in Congress and the free trade agreement nearly completed with South Korea that could boost U.S. exports by $11 billion a year.

Still missing was any commitment by the business leaders to launch new hiring initiatives while demand remains weak and the economic future remains uncertain. Obama asked the CEOs to spend some of the cash sitting on the sidelines more than $900 billion by some of the largest U.S. companies. They didn't bite yet.


"We focused on jobs and investments," Obama said as he walked back from the government's Blair House in below-freezing temperatures. "They feel optimistic that by working together, we can get some of that cash off the sidelines."

Some of the CEOs said they're already hiring. Others said further action by consumers and the government are needed to spur increased investment.

<snip>

More: http://www.usatoday.com/money/economy/2010-12-16-ceojob...

I give up...

:shrug:
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Lasher Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-15-10 10:05 PM
Response to Original message
1. Some people call them the elite.
Obama calls them his base.
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Newest Reality Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-15-10 10:08 PM
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2. Working together?
Well, some would say that government is already working quite well for the multinationals. I guess the action by the government implies some blackmail or is it a cry for more corporate welfare? They have money they won't spend, so give them so more with lots of perks, no regulation or taxes?

So, it's like, you do what we want and MAYBE we might do something about jobs ... perhaps.

What action are the waiting for from consumers? I mean, they could make suggestions. Sell your kids/organs etc. on the black market? Resort to crime to have money to buy crap to stimulate jobs?

It works the other way around as in, create jobs and increase wages so that people HAVE something to spend on their crap.

It is really starting to smell more and more like the bullshit it is. The Owner's corps are circling like buzzards and getting in position for our terms of total surrender. The war is coming to a close.
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theoldman Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-15-10 10:11 PM
Response to Original message
3. You cannot start hiring if you do not have customers to buy your product.
This was best illustrated by Coca Cola in China many years ago. The situation was very similar to our present situation in the US. Coca Cola had the money to build a factory but the Chinese people were too poor to buy their product.
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phasma ex machina Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-15-10 10:27 PM
Response to Reply #3
6. "people were too poor to buy their product"
It's happening right now in America. When banksters steal trillions from the people by creating new money the people pay higher prices for food and gas. Banksters want the people to take out loans to pay for higher food and gas prices. Banksters want to own the people like chattel.
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qazplm Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-15-10 11:13 PM
Response to Reply #3
9. I agree
but the problem is that one of the reasons people don't have money is because they don't have jobs.

At some point, something has got to give, and it seems to me at some point that means business hiring more people and taking the risk that comes with that because that is what business is about, risks, and right now, the CEOs and business are ultra risk averse which is not natural capitalism. It's time for some of these folks to start taking the risk of hiring people with a view towards more paychecks which ideally will lead to more stuff being bought.
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Kat45 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-15-10 11:36 PM
Response to Reply #9
10. +1 n/t
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xultar Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-15-10 10:16 PM
Response to Original message
4. Obama has to know that they have no intention of hiring. WTF is he serious?
The CEOs want the GOP in charge of all three and they will never get it if people are working and happy.

Honestly, I don't believe this shit
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mmonk Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-15-10 10:19 PM
Response to Original message
5. I don't think that's how it works.
I've been in business and if someone came in my door and told me to hire someone when I didn't need to at the time, I would ask them if they were crazy.
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Bigmack Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-15-10 10:33 PM
Response to Original message
7. TR, FDR and LBJ had meetings, too...
people came out of those meetings with sweat on their brows and a changed attitude.

J.P. Morgan for example.
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MrMickeysMom Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-15-10 11:39 PM
Response to Reply #7
11. In particular, LBJ...
He's no doubt turning over in his friggen grave over this shit.
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Art_from_Ark Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-15-10 11:42 PM
Response to Reply #11
12. LBJ once said that Adlai Stevenson
"squats when he pees". One can only wonder what he would have to say about Obama and the "New Democrats"
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MrMickeysMom Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-15-10 11:55 PM
Response to Reply #12
14. I think he'd be haltingly blunt about the new "Democrats"
...and lock them in a room to kick their asses until he got an agreement, just strong-arm the shit out of them.
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Art_from_Ark Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-16-10 02:58 AM
Response to Reply #14
15. No doubt that LBJ would raise a fit
and holding hands and singing Kumbaya would be the last thing on his mind
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COLGATE4 Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-15-10 10:53 PM
Response to Original message
8. Remember what Jack Kennedy said about these CEO's (i.e.
businessmen, in the language of the day).
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NCarolinawoman Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Dec-15-10 11:44 PM
Response to Reply #8
13. Here's the quote from JFK during the "Steel Crises" of 1962.
Edited on Wed Dec-15-10 11:49 PM by NCarolinawoman
"My father always told me that all businessmen were sons of bitches, but I never believed it until now".

Steel companies, led by US Steel had just raised prices by 3.5 percent. JFK was worried about inflation and felt that the Steel companies were reneging on a deal that had just been made.

JFK faced them down in three days with threats from the Defense Department (Gov contracts) and the Justice Dept. He then went to the airways... ;-)

Oh, and Steel companies during that time, were like BIG OIL is today. Lots of clout.
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Anakin Skywalker Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-16-10 04:38 AM
Response to Original message
16. "Urge" them, huh? How about make them instead?
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