Wynn not the only CEO unhappy with The Won

Recall the story posted here the other day about Wynn Resorts CEO's epic rant that stemmed from his dissatisfaction with Obama's failed economic policies? Did it seem like something out of the ordinary to you? I mean, generally business leaders tend towards being apolitical; especially since the modern political left in America are devotees of the notion that, "the political is personal", and will call for a boycott of any company which they decide isn't doing business or comporting themselves in the "correct" manner in a proverbial New York second.
That's what makes the statements of some major US CEOs recounted in this article from IBD all that more interesting. While not as long and complete as Wynn's rant, they definitely don't beat around the bush:
-3M's George Buckley, who blasted Obama last February as anti-business. "We know what his instincts are," Buckley said. "We've got a real choice between manufacturing in Canada or Mexico — which tends to be more pro-business — and America," he told the Financial Times.
-Boeing's Jim McNerney, who in the Wall Street Journal last May called Obama's handpicked National Labor Relations Board's suit against his company a "fundamental assault on the capitalist principles that have sustained America's competitiveness since it became the world's largest economy nearly 140 years ago."
-Intel's Paul Otellini, who told CNET last August that the U.S. legal environment has become so hostile to business that there is likely to be "an inevitable erosion and shift of wealth, much like we're seeing today in Europe — this is the bitter truth."
-Home Depot co-founder Bernie Marcus, who observed to radio host Hugh Hewitt last month that Obama "never had to make payroll," that "nobody has ever created a job in this administration" and that the president is "surrounded by college professors."
There's more. As we often say, read the whole thing...
It's interesting to me how executives are just now starting to speak out against Obama's failed economic policies. And they're not all "Knucke-Dragging, Reich-Wingahz" by any stretch; Wynn, for instance, is a Democrat who supported Harry Reid's re-election. Part of it may be the usual and customary reluctance to alienate potential customers, as I mentioned earlier. But it may be that the weight of these past few years, coupled with the uncertainty about what lies ahead, has finally convinced them that Obama is not the one they were waiting for. Of course, they might have realized this before now if they'd chosen to listen to the opinions of former GE CEO Jack Welch, who hasn't minced words about the disastrous nature of Obamanomics and the O!ministration's hostility to business.
Not to be an I told you so, or anything, but many of these same individuals backed Obama with both the weight of their opinions as well as their cash donations in 2008. My advice to them this time around would simply be not to...

Fool me once, shame on you; fool me twice, shame on me...
Obama’s New Default – The Obama Code
In Obama's world, we know that "pickup trucks" and driving them is code. Or, at least, that is what we are led to believe. This I was discussing with brother Tim. And as we explored the politics of the day, we happened upon something truly revolting.
If pickup trucks are some sort of badge of honor - code - for group identification promoting racism against Blacks on behalf of Whites, then is it fair to consider the word "bankers" and what Obama really means when he says that they are the cause of our current economic woes? And what does he mean by sanctioning them? Punishing them?
If I am given to understand it right, it would appear that Obama is embarking on the darkest, most maleficent of all ruses... pinning our current failures on one group of people. A group of people who have seen this sort of thing before. Again and again.
I am not comfortable with this code-speak that encourages ultimately - and can only lead to - out and out hostility toward "bankers."
How far will Obama push his new populist PR campaign?
But this is a tired and worn (though effective) approach - despicable - when it comes time to rally, vilify - and the vilification of Bush is played out - so, the truly disgusting create another enemy to "place blame upon." I am not at all comfortable with this sort of hatred.
Prosperity is back!; Unemployment jumps to 10.2 %.
[Click on image to enlarge]
10.2%... That's the highest level in 26 years ! Lately, the number has been hanging around the high 9's, due mostly to people dropping out of the job market altogether. There's a more asccurate measure of unemployemet, one that the legacy media doesn't like to talk about, U-6 unemployment-the metric that includes those discouraged folks, which comes in at a whopping 17.5%, up from 17% in September. But, you know, GDP is up!, Happy Days are Here Again!, Obama has stopped the sea levels from rising and the economy from falling, all because of his awesomeness. From geoff at Innocent bystanders:
The President and his economic team have claimed that the plan is working as intended, that they’re on track to save the original goal of 3.6 million jobs, but somehow, despite practically drowning in success, we’re going to have to live with high unemployment for years to come. Oh, and that everything is still Bush’s fault.
Remember that last part. It's Boooooosh!'s fault...Even though the residual unemployment from the dot com bubble bursting was never Clinton's fault. So if happy days are here again, and the streets lined with silver and sidewalks paved with gold, and the stock market is going to carry us all to a new level of bull market prosperity we could never dream of, is it at least safe to say that this is a jobless recovery ? You know, the chant we heard throughout 2003 and 2004, when unemployment maxxed out an 7.2 % and was actually falling instead of, um, rising..?
I guess that Funemployment! is part of that Change! we heard so much about during the last campaign, courtesy of Obamanomics.
(Graphs courtesy of Innocent bystanders and Zero Hedge)
Mostly Acura 2008 – with a Slight Chance of Foreclosure
As the MSM and Radio Talk Show hosts continue to dodge and parry the stream of DC-supplied stats relating to this index or that index - as they continue to score points for or against this party or that - as they speak to GDP and CCI - some declaring the recession economy worsening, some stating we are in recovery, or that it is a "jobless" recovery, or a "V"-shaped recovery, I find myself chuckling a bit. And here is why: I know what the weather is like when I stand on my doorstep - and can even guess at it by looking outside. And my observations lead me to believe that my forecasts are at least as reliable as the ones offered by blue-screen divas and weather nerds in suits.
There are a couple of indices I have been using to gauge the disposition of the economy that are far removed from anything coming out of DC or Wall Street - observational in nature - geographically-local - anecdotal & non-scientific in nature. Nonetheless, I live in a local economy. I work here, pay taxes here, buy things (or not) here. Make rational spending/saving decisions here. I mean here, where my home and family are. So, for me, "here" may as well be the only economy that matters - the local economy.
I share these with you, my POWIP brethren - so you too can tell the weather from your doorstep!
THE LAWN TOY INDEX - observations are made while driving to a fro work, the grocery store, running errands, whatever. Take a moment to pay attention to what people are selling in their front yards. Draw your own conclusions as to the disposition of the seller's financial situation. What would motivate someone to sell such-and-such off? What does it say about how leveraged they likely are? What does it say about their liquidity?

THE NEWSPAPER DELIVERY VEHICLE INDEX - observe the make, model, and year of the vehicle being used to deliver your local newspaper. Again, what does it say about the driver, their financial situation? What is the likely story behind their decision to perform this type of service?

Let It Snow : Lyrics
Oh the weather outside is frightful,
But the fire is so delightful,
And since we've no place to go,
Let It Snow! Let It Snow! Let It Snow!
It doesn't show signs of Pausing,
And I've bought some corn for popping,
The lights are turned way down low,
Let It Snow! Let It Snow! Let It Snow!
When we finally kiss goodnight,
How I'll hate going out in the storm!
But if you'll really hold me tight,
All the way home I'll be warm.
The fire is slowly dying,
And, my dear, we're still good-bying,
But as long as you love me so,
Let It Snow! Let It Snow! Let It Snow!
And I've bought some corn for popping,
The lights are turned way down low,
Let It Snow! Let It Snow! Let It Snow!
How I'll hate going out in the storm!
But if you'll really hold me tight,
All the way home I'll be warm.
And, my dear, we're still good-bying,
But as long as you love me so,
Let It Snow! Let It Snow! Let It Snow!






