P&G CEO - "Obama Administration is creating uncertainty."

[Toro]

Companies large and small have shown reluctance to hire even though the economy has been growing for two quarters, and many economists think that reflects uncertainty about the pace of the recovery and policies coming out of Washington. High on the worry list are how much it will cost to provide health insurance for workers if Congress passes a healthcare reform bill, and what will happen to corporate tax rates.

McDonald, a straight talker, was quite clear how he felt about whether Obama should tax U.S. companies' foreign earnings as he tries to create U.S. jobs and improve exports, saying it "would be a dumb thing to do" as it would make U.S. companies less competitive versus foreign ones.

Lafley, his predecessor, was also vocal against the idea.

McDonald argues that such a plan would not help a company like P&G, which has 145 plants around the world and produces the majority of its goods close to where they are sold.

It is not cost-effective to make Pampers diapers in the United States and then ship them to China, for example.

McDonald has not yet spoken directly with the president and had to turn down an opportunity to have lunch with Obama at the White House last week due to a prior speaking engagement.

McDonald has broached such issues with U.S. Treasury Secretary Timothy Geithner, White House economic adviser Larry Summers and White House adviser Valerie Jarrett, who he said are open to listening to ideas.

"But then you see the same proposal cobbled together a different way," McDonald said.

McDonald said that 20 percent of his company's U.S. jobs are dependent on its international business. In its home state of Ohio, that percentage jumps to 40 percent.

"The point is business needs certainty, or as great a certainty as it can get, if you want business to hire more people. And there's a lot of uncertainty out there today with this administration," McDonald said. "They're not pro-business in general."

Exclusive: P&G chief more worried about U.S. than ever | Reuters

 

[Ravi]

Well Bob, time to get over it. As an individual, I pay US taxes on my foreign earnings, it’s time corporate America ponied up too. Corporations pay the lowest taxes of all.

Show me the numbers when you say that it’s not cost effective to ship Pampers to China.
That’s the reason that we’re in this situation in the first place…Too many assertions by self important people who figured they didn’t have to justify their opinions and assertions to the rest of us.

 

[CrusaderFrank]

The CEO is lying, Obama is clearly trying to fuck the economy up as best and quickly as he can

 

[The Rabbi]

Well Bob, time to get over it. As an individual, I pay US taxes on my foreign earnings, it’s time corporate America ponied up too. Corporations pay the lowest taxes of all.

Show me the numbers when you say that it’s not cost effective to ship Pampers to China.
That’s the reason that we’re in this situation in the first place…Too many assertions by self important people who figured they didn’t have to justify their opinions and assertions to the rest of us.

I would think P&G would know whether it is cost effective or not. They are in business to make money, after all. Why would they operate in a way that would be detrimental to their bottom line?
Of course, it is easy for some non-entity on a chat board to second guess CFOs.

Yes, the main problem is that business is hunkered down because they dont know when they'll suddenly attract the ire of the administration and be subject to demands for more money and regulation.

 

[xsited1]

P&G CEO - "Obama Administration is creating uncertainty."

He's certainly correct about this:

"The point is business needs certainty, or as great a certainty as it can get, if you want business to hire more people. And there's a lot of uncertainty out there today with this administration," McDonald said. "They're not pro-business in general."

Bush started wars which increased the level of uncertainty. If we could just get the warmongers and the tax-and-spenders out of Washington, we might have a chance.

 

[RodISHI]

P&G CEO - "Obama Administration is creating uncertainty."

He's certainly correct about this:

"The point is business needs certainty, or as great a certainty as it can get, if you want business to hire more people. And there's a lot of uncertainty out there today with this administration," McDonald said. "They're not pro-business in general."

Bush started wars which increased the level of uncertainty. If we could just get the warmongers and the tax-and-spenders out of Washington, we might have a chance.

Cloth diapers are the better diapers anyhow. Think green.

 

[The Rabbi]

P&G CEO - "Obama Administration is creating uncertainty."

He's certainly correct about this:

"The point is business needs certainty, or as great a certainty as it can get, if you want business to hire more people. And there's a lot of uncertainty out there today with this administration," McDonald said. "They're not pro-business in general."

Bush started wars which increased the level of uncertainty. If we could just get the warmongers and the tax-and-spenders out of Washington, we might have a chance.

And yet the economy did quite well after the start of both those wars.
So much for that theory.

 

[xsited1]

P&G CEO - "Obama Administration is creating uncertainty."

He's certainly correct about this:

"The point is business needs certainty, or as great a certainty as it can get, if you want business to hire more people. And there's a lot of uncertainty out there today with this administration," McDonald said. "They're not pro-business in general."

Bush started wars which increased the level of uncertainty. If we could just get the warmongers and the tax-and-spenders out of Washington, we might have a chance.

And yet the economy did quite well after the start of both those wars.
So much for that theory.

The cost of the conflict to taxpayers has been enormous and the domestic economy faltered, but you already knew that.

 

[The Rabbi]

He's certainly correct about this:



Bush started wars which increased the level of uncertainty. If we could just get the warmongers and the tax-and-spenders out of Washington, we might have a chance.

And yet the economy did quite well after the start of both those wars.
So much for that theory.

The cost of the conflict to taxpayers has been enormous and the domestic economy faltered, but you already knew that.

The economy is not faltering because of two relatively cheap wars. It is faltering because of a Fed interest rate policy which kept rates too low for too long.
But you knew that already.
Or maybe you didnt. In which case you are merely another Democratic party hack on this site.

 

[JenyEliza]

Jobs aren't materializing because Corporate America doesn't like to hire people they have to fire and give packages to within 6 months to a year.

It's bad business. It's a bad use of capital. There's no ROI (ie, training time, benies, etc).

Corporate America hires and hires big---when they know the tax breaks are big, that their cash flow will hold up to an expansion of their workforce, that while they're expanding, their customers are also expanding and demanding their goods or services.

None of that is happening right now because ALL of Coprorate America knows that Obama is in WAY over his head and hasn't the first clue about Micro or Macro Economics---or Economics period. He's probably never even balanced his own checkbook.

Obama SCARES THE SHIT out of big business.

THAT is why there are NO jobs and why good, hard working Americans are losing their jobs, their houses, their savings and everything they've worked hard for all their lives.

Plain and simple.

And don't think we won't remember this come 2012. Cuz Americans will.