CEO’s of major corporations have recently expressed more optimism about the economy than one would expect, along with surprising information, possibly inside information regarding GE’s customers.
Ohio State University’s Fisher’s College of Business sponsored an event that included GE’s CEO Jeff Immelt, and Fedex CEO’ s Fred Smith, along with approximately 600 other Executives.
“There’s still a lot of growth” said GE CEO Jeff Immelt, adding “It’s a long, slow recovery, but it’s getting better.”
FedEx CEO Fred Smith agreed, saying that shipments mirror a growing economy, adding “We don’t see a contraction…just slow growth, steady as she goes.”
Possibly the most surprising comment was by Immelt, who said GE’s customer’s have “a lot of cash…and a fair amount of optimism.” He added that growth is being restrained by concerns that the European Debt crisis could evolve into a global banking crisis, and that political paralysis will prevent Congress from taking actions to help businesses.
Does this mean that the P.I.G.S, Portugal, Ireland, Greece, Spain, and now Italy are roadblocking a world recovery and possibly creating a new financial crisis? If so, does Germany’s decision to force their taxpayers to essentially bail out the P.I.G.S. + Italy, represent a safety net?
Corporate CEO’s are generally optimistic on the Economy in addition to offering ideas
on what Economic policies can be enacted to improve the economy. CEO’s want to create a positive environment for economic growth. This includes actively participating in the Chamber of Commerce and on advisory councils. During these meetings, policies are often agreed to and set. Local Cities and Counties normally enact the decisions of the Councils.
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