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After a bruising week, Pres. Obama will hold a one-day summit on Wednesday for corporate CEOs,...

After a bruising week, Pres. Obama will hold a one-day summit on Wednesday for corporate CEOs, hoping to persuade some of the companies to start using their collective $1.9T of cash for expansion and new hires. Invitees include GOOG, CSCO, IBM, AXP, PEP and more.
Comments (52)
  • There we go, Obama buying some friends. Are these the same 100+ CEO's that have been given an exception and do not have to abide by the Health Care Reform laws that go into effect in 2013/14?
    11 Dec 2010, 01:36 PM Reply Like
  • Obama, this is not Cuba, you can't force the entrepreneurs to create jobs, if they can they would do it....
    11 Dec 2010, 01:39 PM Reply Like
  • What a joke. The nation's chief executive who has no business experience pleading with people who run large companies to expand their businesses and hire new workers. Would that it were so easy Mr. President. Agitating and organizing the poor and dispossessed does not an entrepreneur make. No doubt Obama has begun to conclude that he can't create jobs by borrowing and spending and must turn to the private sector to save his socialist programs.
    11 Dec 2010, 01:39 PM Reply Like
  • It's a good move and shows the guy can learn. I like it. It will infuriate the base. Anything he does that infuriates the base is a good political move. Better he meets with these guys than garbage like Richard Trumka or Andy Stern. Which is what he was doing. A lot.
    11 Dec 2010, 01:54 PM Reply Like
  • Nor should he have wasted his tme with a bunch of washed up lawyers pretending to be captains of industry (Chamber of Commerce and Business Roundtable) As President he should have dealt directly with the CEOs of the major corporations (sans the financial sector).
    11 Dec 2010, 03:45 PM Reply Like
  • Repeal Obamacare and lower corpy taxes. Also allow them to repatriate their overseas capital w/o Uncle Sammy's cut.


    Nothing else needs to be said.


    Meeting over in 5,4,3,2,1.
    11 Dec 2010, 03:38 PM Reply Like
  • This is where OB will announce tax free or favored repatriation of profits, in return for committments to invest in America.
    11 Dec 2010, 03:40 PM Reply Like
  • I think it is rather comical that Obama is going to meet with AXP CEO after our government has tried to influence/interfere with what the consumer pays with.
    Although I am not current on where the AXP vs MC and V stands - I was really outraged that our government would feel compelled to once again try and pick winners and losers among credit card types-
    Especially when there are so many greater issues to address.
    Just my opinion.
    11 Dec 2010, 03:41 PM Reply Like
  • new hires? i think not. paying down debt is more likely. no corporation is going to hire when they can do more with less. they cut and cut to become lean. why hire when you were able to hide behind the economic atmosphere and do what was fashionable, pink slip and downsize. these companies have an obligation to stock holders, not obama.
    11 Dec 2010, 05:00 PM Reply Like
  • Leadership requires a resolution of conflicting theories, ideologies, myths, or competing propagandas when the wolves threaten the community. Obama will consolidate power and take the reins or someone else will. Its time for him to write the names on the wax tablets, sharpen the long knives and be about the ugly business of governance.
    11 Dec 2010, 05:48 PM Reply Like
  • Sure curious why the negative nellies are out today with their comment ratings. Neil, Geoffster, Doc, and Wyatt all got pummeled for their perfectly logical comments. Maybe the libs only read SA on the weekend. I noticed this on 2 other SA articles today. Hmmmm.
    11 Dec 2010, 06:03 PM Reply Like
  • I was thinking exactly the same thing. Old Rick is a genius.
    11 Dec 2010, 06:18 PM Reply Like
  • When the Chinese Premier was newly elected he came to the US and toured corporate America BEFORE meeting the President. I am too lazy to dig up the relevant dates and meetings, but I do remember something about a party at Gates' estate.


    I thought that was meaningful, and widely ignored.


    You cannot run an economy without talking to the heads of business. Any comment here considering this action by Obama as erroneous or problematic is partisan politics and doesn't intend for the well-being of the nation.
    11 Dec 2010, 08:26 PM Reply Like
  • I wonder what "persuasion" will involve - promise of tax breaks on repatriation ( which I am against because it favors big multintionals at expense of small US based businesses) or some offers that they "won't be able to refuse". Either way I am rather suspisious of this set up.
    In my opinion the way to create jobs in the US is to lower corporate tax rate for everybody.
    Multinationals will not create jobs in the US anyway, they are american in name only, most of their operations happen elsewhere, why should they move back to the US? We should acknolwedge this fact and concentrate on US based businesses instead.
    11 Dec 2010, 08:49 PM Reply Like
  • The taxes are already low for Corps....they have record cash amounts....


    We should give more tax cuts to small businesses and to the rich to attract capitals flows and thus jobs creation....
    12 Dec 2010, 07:15 AM Reply Like
  • After two years of photo-op 'discussions', I'm pessimistic anything, good or bad, will come from this. However, the President can say he tried and blame the corporate executives for not solving the problem for him.
    11 Dec 2010, 10:17 PM Reply Like
  • When Obama's stint as President was still just beginning I remember reading "The Great Depression Ahead" by Harry Dent which was a pretty interesting read and very close to spot on in many of its projections.


    I said to myself, "if this guy is right, then Obama is going to be President of a country entering a structural, qualitative, downturn that will not be resolvable with simple political and economic tricks", i.e. neither the Obama nor Bernanke would be able to stop and turn things around, no matter what they do.


    I'm not completely pessimistic about the outcome of these discussions, however, since I don't believe the world is mathematically quantifiable and projectable and I believe with the right applications of pressure real change can be effected, O in this instance is just playing another one of his cards. Hopefully, his hand is a good one.
    11 Dec 2010, 10:49 PM Reply Like
  • $1.9 Trillion in cash. Shouldn't some of that be going in to paying down our deficit, which many of these CEO's added to with their lame or thieving behavior recently.


    Obama is signing a tax cut, the deficit is climbing, and corporate cash is growing...? Does he not see the problem here? And the logical opportunity to begin paying down the debt?
    11 Dec 2010, 11:46 PM Reply Like
  • I wonder if Bill Clinton will be handling this meeting for Obama, too? :-)
    12 Dec 2010, 08:18 AM Reply Like
  • Clinton is a big part of the problem, in fact. Clinton sold his party to Wall Street, so that they could compete with the rising cost of getting elected. (No inflation? Really?)


    The democrats don't remember who they are any longer. Obama wants to be second lieutenant to the king-makers on Wall Street, instead of telling the plutocracy that the gig is up; they'll have to start paying for the party for the next few decades.


    Piss them off? Yes, definitely.
    12 Dec 2010, 08:31 AM Reply Like
  • It's Christmas week and people are obviously feeling owly as hell. Just look at all the thumbs downs in this room. Perhaps the economy isn't booming after all. Oh boy... just watch me get slammed for pointing this out. lol
    21 Dec 2010, 04:09 AM Reply Like
  • All right guy, you just crossed the line---12 thumbs down for you--- and no "coal stocks" in your in your Christmas stocking---how do you like them candy apples.
    21 Dec 2010, 08:13 AM Reply Like
  • Albertarocks, A bunch of socialists are getting laid off in January and their mad as hell. Only thing is no one cares, so the only option left is thumbs down on SA. Merry Christmas.
    21 Dec 2010, 10:26 AM Reply Like
  • I agree....SA has too many liberals...
    21 Dec 2010, 11:39 AM Reply Like
  • LOL. And now you're in shit too Zorrow. Quick, let's get outta here.
    21 Dec 2010, 01:40 PM Reply Like
  • Merry Christmas to you as well Neil. And happy birthday... whenever that is.
    21 Dec 2010, 01:41 PM Reply Like
  • Obama needs to call in everybody.The problem is not the "the deficit", we've dealt with that before. The problem that is causing all the chaos, all the unemployment, all the instability, is the fraudulent mortgage and derivative products and how they are traded. All the other social wedge issues have always been there and are just distractions from this big fraud. Obama should also ressurect Eliot Spitzer, "Mr Indictment". He has experience with the Martin Act and how to get about the business of prosecuting this New York mafia crime spree. Because that is the root of all our problems. It is like "Hamlet". We're dancing around the real issue but not facing it.
    12 Dec 2010, 10:35 AM Reply Like
  • zorrow, and he won't face the real issue because that issue is accomplishing Obama's socialist goals. One of which is to destroy the middle class by moving them all to a lower class where they to depend on government.
    12 Dec 2010, 12:23 PM Reply Like
  • You are correct, that's called : the "redistribution of wealth."
    Obama first goal since entering the White House....
    12 Dec 2010, 01:09 PM Reply Like
  • Neil: I voted for George Bush -- but George Bush and his policies are what destroyed the middle class. Dig a little deeper. Get rid of the ideology. Big Business under George Bush exported all our jobs overseas; the point of this was to break America's unions, which was the hammer pushing for higher wages in America; as the wages fell, Americans could no longer consume products made at cheaper wages, so bubbles and easy borrowing were needed. University tuition went up 2,000% during the Reagan-Bush-Clinton-Bush pro-business reign. That's what destroyed the middle class. No one got a raise the last 20 years because the insurance companies got the raises by continuously raising health-care premiums -- workers got health insurance, that most didn't need at the time, but no more money. The middle class got deeper and deeper into debt. It was NOT Obama's fault or his plan. It was the plan of Big Business: a new feudalism, with the world's CEO's running the world. It worked beautifully.
    12 Dec 2010, 01:15 PM Reply Like
  • i did not vote for Bush but Mr. Clarks assessment is 100% right on. just to add to his insight, the depreciation and devaluation of the U.S. dollar has made many americans believing that metals most notably gold is soaring when in reality its just the same value just a weaker dollar. we do need to bring manufacturing back to this soil without nurturing isolationism because the global economy is here to stay. China is taking advantage of us and we need to be politically silent, what gives? they will have a difficult time when capitalism takes hold of their economy with a tight grip jockying against communism.
    12 Dec 2010, 02:17 PM Reply Like
  • "Big Business under George Bush exported all our jobs overseas; the point of this was to break America's unions"


    No, the point of it was to 1) survive and 2) turn a profit.


    You like profits, don't you?


    And the reason the multinats left? So they wouldn't be the next victim, like GM who was destroyed by the UAW.


    "which was the hammer pushing for higher wages in America"


    Hardly. If it was only higher wages. The pensions are what caused them to pack up and leave. The healthcare costs. The regulations and laws that are loaded on one side towards unions. The regulations and laws themselves, apart from unions.


    Face it. Lefties want to complain all day about overseas jobs, but then don't want to take ownership of being the ones responsible for it. They can't have it both ways. Its one or the other, but not both.


    IF Pelosi wants to stop the congloms from overseas jobs, THEN she will have to stop boosting union membership and upping regs. But she can't do that because its her chad-yanking base.


    So, she'll cling to the pre-fabricated rhetoric and bash businesses(for just trying to remain solvent) by outsourcing, then continue to vote to expand the powers of every federal and state agency from the EEOC to OSHA to new ADA laws to new sex. har. laws to taking off the statute of limitations for the new Lilly Ledbetter Act, to ramming Obamacare down our throat to more expansive whistleblower laws to on and on and on... getting more donations from the BAR and using the EPA to punish our fewer and fewer energy creators(and job creators mind you).


    Its not just disingenuous anymore. Its a form of insanity at this point.
    13 Dec 2010, 04:29 AM Reply Like
  • Wyatt's world doesn't exist, never existed, and never will exist. He may think its a great model; but it doesn't fit the facts of reality, of human nature. He's become a fan boy of a bunch of crooks who engaged in fraud, like a ghetto kid admiring fancy cars of drug dealers and pimps. Eventually, he's going to have a moment like Saul being knowced off his horse on his way to persecute the Christians in Damascus, after his epiphany, with his personality, he will probably become the biggest advocate of giving his former "heros" the gas chamber.
    21 Dec 2010, 08:22 AM Reply Like
  • Yeah, early America before the Dept. of Education & the Dept. of Energy & the Dept. of Homeland Security was a real medieval era. Back then we crapped in buckets and threw our shit out our windows onto the cobblestone streets. And everyone got the black plague.
    21 Dec 2010, 12:00 PM Reply Like
  • Oh, Tack. Read some real history and anthropology that hasn't been adulterated by the"Heritage Foundation" or Fox news.
    21 Dec 2010, 12:40 PM Reply Like
  • You can't have a big country without a big government. You can have a small country, with small scope of vision, and small resources. But if you want a country that is a player in world politics, then you can't have a state's right government system with a withered national government.


    I wish Jefferson would have won, and America would have followed the Greek States Model instead of the Roman Empire/British Empire model of Hamilton and Washington. But we took the step into incarnation as the Sun Hero and now we are stuck in Time. There's no going back to the origin, unless all the states secede from the union and we break up into defensive cellular centers of self-interest and start to fight wars against each other like Greece did and like Europe did and has done for the last how many centuries?


    We are an empire now. Many of us don't like that fact. But let's not pretend its not true.


    Remember the Dark Ages? That was what happened when Rome (that big empire/government) broke up into smaller parts and turned out the lights for 1,000 years. That is coming also; but not so soon as some of you will think. Not in our lifetimes. Eventually, America will break up and be scattered to the wind, as Rome was -- and those seeds will blow far, and then new plants will come up, similar to what the European City-States of the Renaissance were: offspring of the Roman Father-Mother. But we're not there yet.
    22 Dec 2010, 08:38 AM Reply Like
  • " Greek States Model". Yeah, those Greeks are a shinning example for the world. We should have done that. :-)
    22 Dec 2010, 12:29 PM Reply Like
  • hello Mr. Clark,


    i have a good friend who is a political analyst, and there is certainly much truth to what it is you said about " breaking up into smaller parts". Tho it will never reach the airways for the general population to hear, there is a real consensus that if the current debt of some of the states is not controlled that there will be states that will leave the union. Many states are not willing to bare the burden of other mismanaged states. Yes, it sounds ridiculous to even contemplate such an idea, but we will eventually bare the fruit of the seeds that have been planted. like the use of the social services by illegal aliens, misuse of funds by fraudalent recipients of social security and welfare that can ultimately bankrupt our nation. these issues are at the root of the union demise.
    22 Dec 2010, 12:48 PM Reply Like
  • Jefferson admired the Greek states (mostly Athens) of Plato and Socrates and Aristotle. He wanted a small central government; and states with more rights and more powers. He liked the idea of a society being run by philosophers and poets -- instead of by businessmen -- a pipe dream probably. Read Plato's the Republic to get a sense of what Jefferson imagined.


    That, as you suggest, has a big shadow. However, the Roman Empire/British Empire model you seem to like also has a huge shadow. Remember how the Roman Empire ended, with barbarians overrunning the city-state, murdering its citizens, and have the survivors escape and live in the swamps around Venice for a few hundred years. That's a pretty big shadow too, I guess.


    I hope America does have its Plato, Socrates and Aristotle season some day. I don't see it coming for awhile. Perhaps after the barbarians chase the urbanites into the swamp again. After 1000 years of a Dark Age. The future, I'm quite sure, belongs to an even more perverted sense of empire, cruelty, and totalitarianism, after our democratic era is stolen from us and we sink into the 'real' empire.


    I hope history doesn't repeat this exactly. But the picture becomes more livid and more tactile by the moment.
    22 Dec 2010, 01:20 PM Reply Like
  • Mikeybronx (I was Mikeywyoming for much of my life). I agree with you. I think secession will again become a powerful political idea. You can see it growing in strength in fact. I'm not sure secession will be what it might seem from a distance. By I think Nature has cycles of centripetal political force that drives people from small centers outward into larger governments, unities, even into national empires; these cycles are followed inevitably by cycles of reverse movement, centripetal force that drives people away from centralized positions to smaller centers. This centripetal force is a kind of death instinct as the decadent body of the empire is abandoned, and allowed to die -- a kind of decomposition of the political body...which movement, does, in fact, lead into a death experience and a Dark Ages of smaller government, smaller vision, more agrarian (the cities wither), closer to Nature.


    The centrifugal movement is the Life experience, as the spirit of a nation gets larger and more powerful and more complex, more educated, more adult, more corrupt, etc.


    The centripetal movement is the Death experience, as the spirit inhabiting the body escapes from a sick body and retreats in order to recover from the experience.


    I think secessionary movements are just around the corner.
    22 Dec 2010, 01:34 PM Reply Like
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