A Wealth Gap or a Crisis of Confidence?
Winston Churchill once wrote: “You don’t make the poor richer by making the rich poorer.” If he were sitting in the House chamber during President Barack Obama’s State of the Union Address, Churchill would have been flabbergasted by the contention that a “wealth gap” was the cause of the nation’s woes. It’s not a wealth gap that is slowing recovery – it’s a crisis of confidence in Obama’s ability to lead the nation. Some of history’s most accomplished leaders, like Churchill, got their inspiration from time honored thought leaders and statesmen. In his State of the Union Address, Obama got his inspiration from the Occupy movement, and catered to this largely discredited group. This agenda is fraught with peril. It is clear that rather than face the lingering... Read More
A Cautionary Tale About Brain Drain
If you’re following the financial mess in Europe, the U.S. economy in comparison doesn’t look that bad. Yes, the United States is suffering through its worst economic malaise in more than a generation but our entrepreneurs, small business owners and inventors are giving us hope by slowly getting us back on our feet. That’s not the case in Europe, which is experiencing a domino effect as once financially viable countries are drowning in debt and are in danger of defaulting. What we do have in common with Europe is some of our best and brightest people are leaving our labor force, for many of the same reasons. Currently in Europe, the economic downturn is driving tens of thousands of skilled professionals away from their home countries. Spain and Portugal have been hit hardest... Read More
Welcome to the Department of Global Commerce
Last week, President Barack Obama asked Congress for authority to close the Commerce Department and create a new export agency. Obama wants to put the office of the United States Trade Representative (USTR), the U.S. Export-Import Bank (EXIM), Overseas Private Investment Corp (OPIC), the Trade and Development Agency (TDA), the Small Business Administration (SBA) and parts of the Commerce Department under a new roof — something that has been kicked around for years. As I point out in my book “Conscientious Equity,” we have created a bloated behemoth government infrastructure to manage our global trade relations that is uncompetitive and inefficient. Our exporters aren’t getting the support they need to combat foreign governments that erode our access to markets by... Read More
Five Hot Spots That Have Obama Running Scared
As we race toward the November election, you can be sure that President Barack Obama and his disciples will be ticking off his perceived accomplishments in his bid to win re-election. He will attempt to position himself as the tax-cutting, regulation-busting friend of small business. Nothing could be farther from the truth. If you listen closely, he will side-step the priorities he failed to accomplish in his three years in office, and won’t accomplish in 2012. They all have one thing in common: They are needed like blood to resuscitate a hemorrhaging economy where flat lining job creation is beyond the hope of recovery anytime soon. Here are the five issues he must address to create jobs but will fail to act on. 1. Using tax reform as a competitive advantage When a company spends... Read More
My Prediction: US Will Return to Greatness Once Again in 2012
As this is the week of predictions, I have a prediction of my own. After nearly four years of crushed optimism, I predict that in 2012, America will get back on its feet by getting back to its roots. As a nation, we will rediscover our exceptionalism and stop making excuses for it, or worse, being ashamed by it. We have temporarily lost our way. We have turned our focus away from the heritage of our Democracy; a symbol of strength and fairness once respected around the world. That’s the America that our forefathers set in place, and that’s the America that we need to get back to. The pursuit of happiness codified in our Declaration of Independence is made possible by the existence of our free enterprise system. Our founding fathers guaranteed us the equality of opportunity; they... Read More
Top Job for US Must Be Re-selling American Exceptionalism
The Commerce Department recently released figures that from the start of the 2000s, U.S. multinational corporations added 1.5 million workers to their payrolls in Asia and another 477,500 workers in Latin America (not including Mexico). At the same time, some 864,000 U.S. jobs were cut. From 2000 to 2009, U.S. corporations increased employment in Canada by 1.0 million (up 6 percent); in the U.K. by 1.1 million (up 8 percent); in India by 453,000 (up 642 percent); in Brazil by 505,300 (up 47 percent); in China by 943,900 (up 262 percent; and in Mexico by 904,300 (up 17 percent). Why is it that American companies are excelling at creating jobs, but not for Americans? Does that mean these U.S. corporations aren’t supporting America? Or is it that America isn’t supporting these corporations? More... Read More
Our President Should Think Like a CEO
The Wall Street Journal recently convened its annual CEO Council. This year, some 100 CEOs gathered and concluded that the nation’s top five priorities are: • create a globally competitive tax system; • immigration policies should support innovation; • improve human capital; • upgrade our energy infrastructure; • invest in R&D. The question that must be asked is: Why doesn’t President Barack Obama and members of Congress come to these same conclusions? The answer is that the country needs to be run by people who understand business. This isn’t the case. If it was, we wouldn’t have some 14 million unemployed Americans. This should be the impetus for demanding that any presidential candidate must have a sound business background. Being a community organizer doesn’t... Read More
The Waiting is the Hardest Part
As I watch the general malaise gripping Washington, I find myself thinking about the lyrics of Tom Petty’s hit song: “The waiting is the hardest part.” I know I am not the only one waiting for something to happen to get this nation back on track. Our small businesses, entrepreneurs and 14 million unemployed feel an endless gnawing, the grinding of gears, as America performs like a broken clock. Time stands still. It has become all about the waiting. • The waiting for the Supreme Court to strike down Obamacare so we can get our future healthcare costs under control. The Affordable Healthcare for America Act is anything but affordable. When the majority of states consider it unconstitutional, something is very wrong. It’s just one more thing keeping small business from hiring.... Read More
Obama, Congress Must Create Jobs, or Find New Work Themselves
As the so-called Super Committee failed to reach agreement on $1.2 trillion in deficit reduction, our politicians and their designated flame-throwers frothed in their “I told you so” antics, heaping blame on everyone besides themselves. The real failure, of course, was to demonstrate to the American people that Congress simply cannot work together and this country is totally devoid of leadership. In particular, it continues to reinforce the feeling of uncertainty and hopelessness among small-business owners that deficit spending will not be controlled, which means any sort of hiring will be postponed indefinitely. The losers once again are the 14 million unemployed, who now face a very dire holiday season with little reason for optimism. The latest labor statistics indicate that... Read More
There’s More to Asia Than China
Many Americans, including those in Congress, have a myopic view of the Asia-Pacific region. They only see China, but as the recently concluded Asia-Pacific Economic Cooperation (APEC) meeting in Honolulu illustrated, we have 21 important trading partners with shores bordering the Pacific Ocean. To concentrate solely on China ignores the robust trading relationships the U.S. has with Asian nations. APEC, besides the United States, consists of Australia, Brunei, Canada, Chile, China, Hong Kong, Indonesia, Japan, South Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Taiwan, Thailand and Vietnam. For example, during the most recent APEC summit, the United States Trade Representative Ron Kirk and Philippine Secretary of Trade and Industry... Read More
