Comments on: CEO: Economy's too shaky to gamble on more jobs
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- Capitalism has failed, maybe we should try democracy.
How much does this CEO make versus his workers (you know the people who actually create the wealth)? - Reply to this comment
- Once again, we have a business leader saying the same old thing: If only the US government were run like a business, all would be OK.
"I said to those guys more than once," said Cote, "because we had good people on the commission. I told them, 'I don't know how you get your jobs done down here' because everything is ruled by what I call the three H's: hysteria, histrionics and hyperbole. They take what should be a logical discussion and make it ridiculous."
Cote is referring to an idealized version of a business operating in a free market economic system. In the real world, companies can be just as stupid as anyone else, as stupid as any government entity might be.
We are in this economic mess because capitalism burned itself out, not because the federal government mucked everything up. - Reply to this comment
- CEO-pay
21 days and 45 states later, the press is finally figuring out America is angry.
You have a CEO from Honeywell on CBSnews.com saying he will not hire, while he pockets 30 million.
Is he really worth 30 Brain Surgeons or 100 Dentists or 500 Teachers?
When Germany went through the financial meltdown in 2007 and later, German companies asked people who worked, if they wanted less hours or would be willing to job share with someone to keep more people working, creating 2 part time jobs etc. It worked and they came through the financial meltdown in the best shape in Europe. I know we are bigger, have 2 wars etc, but I never hear about these CEO's coming forward with helpful ideas, unless it is to park profits over seas to wait for another tax amnesty like 2004. Which they used to give themselves big bonuses,
Whatever the employment impact, the deferral provision is costing the U.S. government money. A new study published in Tax Notes this month concludes that multinationals shifted almost $50 billion in income to low-tax countries in 2004, depriving the government of $17.4 billion in tax revenue. To recoup some of the lost cash, Congress in 2004 allowed corporations a one-time opportunity to repatriate profits at a special 5.25% tax rate. In 2006, corporations paid $354 billion in federal taxes.
http://www.usatoday.com/money/perfi/taxes/2008-03-20-corporate-tax-offshoring_N.htm
Now, you have to remember, that Big Business bought back stock, bought companies that they raped and laid off workers. CEO's gave themselves BIG BIG bonuses, pretty much everything but create more jobs.
American CEO's we know you clowns are all on each others boards and pull lots of crap. Chew on this, we know a million Chinese that could do the job of any CEO, and as we share holders, get stronger, you will compete with Chinese CEO's, like the American worker has to compete with their workers! - Reply to this comment
- The solution is real easy.
The CEO is 100% percent correct in that hiring is gambling on the economy turning around and that keeping costs down are critical.
So here's is my solution. Honeywell should fire their CEO and use his and hire a recent college grad to fill his role at 500 K per year.
Then use the remaining funds to hire engineers and scientists to drive innovation. The key is innovation and wasting millions per year on a overpaid executive is a total waste. The stockholders need to rebell against excessive compensation for CEOs and start demanding accountability! - Reply to this comment
- Here's a thought; the Government shold nationalie all US Corporations, take the 2 rillion they are sitting on, with it rebuild our infrstructure i.e bridges, roads etc which or courese will employ millions. As a Nurse will be waiting in the ER for all the REPUBAGGERS who will stroke out over this idea!!!!!!!!!!!!!!!!!!!!!!!
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- Anyone stupid enough to think a home builder is going to go hire 15 carpenters and hope the economy turns around in 6 months and orders begin coming in and pay them in the meantime is either an idiot or a liberal. How many people will we northerners pay this winter to mow our lawns next summer?? Get real.
This is business, not charity or a government program both of which are sometimes indistinguishable. - Reply to this comment
- So the private sector just isn't going to hire anybody.
This is the solution. Let the tax breaks for the rich expire, get rid of all tax loopholes that benefit the rich, get rid of the tax breaks for off-shoring American jobs, and impose a fee on day trades, hedge funds, deriviatives, and commodity trades.
Then when the unemployment rate falls below 6 %, have an automatic trigger that raises the rates of everyone earning more than $ 5 million dollars.
We can use these proceeds to provide government jobs. Check out a photo essay on American bridges by Harry Bradford on the Huffington Post, September 29. That's just one example of the sad state of our infrastructure. Let's put American to work on the infrastructure and on green tech. Since the private sector won't hire, the public sector needs to step in.
Tax the greedy to fund jobs for the needy.
Also, this is a good reason to join Occupy the Street. - Reply to this comment
- Something tells me that this guy is not taking a pay cut in the face of the "uncertainty"
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- Is he trying to say that he (industry) will hire no more people no matter what incentives our government offers. If we offer tax breaks, no-bid contracts, or hiring bonuses he will not increase production. Until we buy more of his products he will be unresponsive. What a novel idea.
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- So, they aren't hiring and we aren't buying. It's a catch 22.
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