Home > education, leadership, Markets, politics > 1.8T in cash on the sidelines in corporate coffers

1.8T in cash on the sidelines in corporate coffers

Why is this a jobless recovery? a recovery?!  ha!

Still, Fareed Zakaria offers some damning insights. This really shouldn’t take you by surprise

One CEO told me, “Almost every agency we deal with has announced some expansion of its authority, which naturally makes me concerned about what’s in store for us for the future.” Another pointed out that between the health-care bill, financial reform and possibly cap-and-trade, his company had lawyers working day and night to figure out the implications of all these new regulations. Lobbyists have been delighted by all this activity. “[Obama] exaggerates our power, but he increases demand for our services,” superlobbyist Tony Podesta told the New York Times.

Most of the business leaders I spoke to had voted for Barack Obama. They still admire him. Those who had met him thought he was unusually smart. But all think he is, at his core, anti-business. When I asked for specifics, they pointed to the fact that Obama has no business executives in his Cabinet, that he rarely consults with CEOs (except for photo ops), that he has almost no private-sector experience, that he’s made clear he thinks government and nonprofit work are superior to the private sector. It all added up to a profound sense of distrust.

  1. Terry Lesniak
    July 6, 2010 at 10:25 am

    There is “smart” as in smart aleck, smart-ass, or Harvard smart-mouth. Then there is “smart” as bright, wise and knowing.

    Articulate, business-suited rhetoricians with socialist agendas…business executives should know better!

  1. August 29, 2010 at 10:53 pm

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