David Cote CEO Honeywell - businesses not hiring because of uncertainty re demand not regulations

[JohnWxy]

Who'd a thunk it! Nightly Business report scoops PBS News Hour with a bit of reality checking that you're NOT LIKELY to hear on PBS NewHour which is establishing itself as FoxNews-light Hour.

In an interview with David Cote, CEO of Honeywell, Cote said the unthinkable (in the Corporate Lobbyist world of disinformation- which alleges that businesses aren't hiring because they are afraid of the REGULATION MONSTER AAAUUUGGGHHH!!!!) ...That businesses hire based upon confidence in demand for their products NOT what the future MAY hold for regulations!!

.... GERSH: In Washington, the debate over hiring often seems stuck in finger-pointing over whether there is too much regulation or not enough government spending. Cote says the solution is in private sector demand.

COTE: I don`t think there are many CEOs out there who would say, geez, things are booming, but I`m uncertain on regulation, so I`m not going to hire people. While I`d be the first to admit that uncertainty on regulation doesn`t help, at the end of the day, I think the bigger driver is uncertainty of demand.

http://www.pbs.org/nbr/site/onair/transcripts/honeywell_ceo_david_cote_110112/

[yourout]

1. They are not hiring because they are not taxed for sitting on mountains of money. There should......

be a tax for a company sitting on money. And a tax break for every new hire up to $50,000.00 per job.

[LiberalEsto]

2. They're not hiring because they don't want to hire

They've ground us down under their fat heels and they like it that way.

[MH1]

4. if hiring would make them money, they'd hire

if they were confident of demand, they'd be confident of making money, and they'd hire.

they don't give a shit one way or the other about your feelings. they're not sitting around thinking "we got em good and ground down now so let's keep it that way".

[FreakinDJ]

3. Really they are all searching for a product to sell to the Chinese

They have sold off America's Manufacturing base to the point where there is no one left here in the United States to buy their products

[MadMaddie]

5. Yet many of them are making record profits and will be

handing out huge bonuses. Liar, Liar...

[applegrove]

6. Thank you. That old canard about regulations stopping employment during this recession is

just myth-making.

[JohnWxy]

8. This is one of the most repeated Big Lies of the Corporate Lobbyist party. That businesses

are concerned about regulatory unknowns and that causes them to hold off on hiring. It's more BULLSHIT from the Corporate Lobbyist party.

If businesses have growing sales which they feel confident will continue at the same level or will continue to grow they will hire. The biggest unknown in the last couple of years holding down business hiring has been whether the meagre recovery continue or stall. Of course this uncertainty was greatly strengthened by the Corporate Lobbyist Party fighting and filibustering EVERY EFFORT THE DEMS MADE TO STIMULATE THE ECONOMY - EVEN EXTENSION OF UNEMPLOYMENT BENEFITS. EVERYONE REALIZES KNOWS EXTENSION OF UNEMPLOYMENT BENEFITS IS NEEDED JUST TO KEEP THE ECONOMY FROM SINKING INTO A MAJOR DEPRESSION. Economists of all political persuasions have been in favor of unemployment benefits extensions as it would be economic suicide to stop them.

What's surprising is a business news show - which editorially is rather pro-business (to please an audience which they presume is mostly comprised of conservative twits) has interviewed more than one CEO who said just what Cote said. But you won't hear this truth on PBS's Newshour which is the flagship of PBS's effort to brand itself as the Faux News-light of broadcast tv - to attract more corporate advertizers and in performing for the Fascists in Congress - I assume to try to preclude even more cuts in Federal funding. The NewsHour repeats ad infinitum the Big-Lie that businesses are not hiring because they are waiting to see "all those" regulations Obama is going to put into law. They have repetitively shown Republicans say this like it's a fact but they have never pointed out that it's bullshit.

[ProfessionalLeftist]

7. They're hiring - in China and India. n/t

[Citizen Worker]

9. Wages create demand. Wages have actually gone down by some $1,800 since 1973 according to a study

by the Brookings Institute published in November 2007. Absent increased wages to stimulate demand, and thus consumption, there is credit and we all know what's happened to credit. Wages have been arbitraged downward under the threat of companies moving to foreign countries unless their wage and benefit concessions are met. Solution: end the so called "free trade" agreements, reinstitute tariffs and develop a national industrial policy. These actions are no different than those of other nations signatory to the various trade agreements. The US stands alone when it comes to protecting basic domestic industry. Until this is reversed it is only going to get worse.

[BlueinRedOR]

10. Agreed, but there's another variable...

I run a manufacturing & distribution company in Oregon.
Unlike many of the publicly-traded, Fortune 500 companies, my
company is not sitting on mountains of cash. Hell, we don’t
even a small satchel full of cash, rather, I have bank notes
reminding me of the debt I have incurred to survive. I want to
hire. I need to hire. However, the lack of demand is real, and
very unpredictable- combine this with the our inability to
secure any capital in any form, be it a bridge loan, credit
line increase, grocery bags of cash, or bags of peanuts –is 
influential enough that I don’t hire, yet.  
Oddly enough, I was contacted by my local Chamber during their
membership drive back in early Nov’10 and their pitch was
predicated upon their collective resistance to unruly and
unnecessary regulation that was going to hurt my company- I
simply asked the chamber caller: “will blocking or repealing
this nasty legislation induce domestic demand or enable
companies like mine to growth capital?”  Care to guess the
answer?

[ncrainbowgrrl]

11. welcome to Democratic Underground!

Thanks for sharing your story! :hi:

[MedicalAdmin]

12. I run a private medical clinic and I too was contacted by my local chamber.

And they too seem to be run by self absorbed tools who are slightly to the right of John Birch. I took a pass, but then I thought that the reason they are like hey are is because the rw idiots are in charge and TONS of companies like mine refuse to be a part of the inbred idiots club. But given thatthe chamber is run by and for it's members and are completely autonomous in what they support the progressive business owners could take it over....

Food for thought.