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Obama calls Tim Cook, other CEOs for 'fiscal cliff' advice

updated 12:36 pm EST, Mon November 19, 2012

JPMorgan's Jamie Dimion

US President Barack Obama recently called several CEOs for advice on dealing with the upcoming "fiscal cliff" faced by the federal government, according to a White House official in contact with CNN. Four executives have been named, including Apple's Tim Cook, JPMorgan Chase's Jamie Dimon, Boeing's Jim McNerney, and Costco's Craig Jelinek. The calls follow meetings with other CEOs last week, including conversations with General Electric's Jeffery Immelt and American Express' Kenneth Chenault.

Thanks to earlier, failed budget negotiations, federal politicians have until the end of the year to come up with a new deal that will prevent across-the-board cuts and tax hikes that could potentially cripple both the government and the economy. The White House official hasn't said what sort of specific input Obama is searching for from people like Cook, beyond "a balanced deficit-reduction solution that protects the middle class and continues to move our economy forward."



By Electronista Staff
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  1. Mr. Strat

    Junior Member

    Joined: 01-23-02

    I suppose that consulting people who know how to run a business and have an understanding of economics would be beneficial when you don't.

  1. jfgilbert

    Fresh-Faced Recruit

    Joined: 01-19-10

    Yes, it is so much better to pretend that you know everything and have every answer. Only an inferior mind would be open to other people's knowledge and intellect.

  1. JackWebb

    Fresh-Faced Recruit

    Joined: 08-31-07

    Any advice that would actually work is not advice he'll take. A few million non-experts already know that government spending more isn't helping the economy. A few less know that tax increases would only reduce the deficit by single digit percentage in the best case scenarios. They'll probably all agree to climb up to a higher cliff to jump off later.

  1. LenE

    Fresh-Faced Recruit

    Joined: 05-19-04

    Was there a TelePrompTer present in the meeting? The last time the President met with his jobs council, a group of CEO's from very large companies, there was. There also was zero knowledge transfer, and no follow-up policy shifts. This is for show, nothing more or less.

  1. efithian

    Fresh-Faced Recruit

    Joined: 04-21-04

    Originally Posted by JackWebbView Post

    Any advice that would actually work is not advice he'll take. A few million non-experts already know that government spending more isn't helping the economy. A few less know that tax increases would only reduce the deficit by single digit percentage in the best case scenarios. They'll probably all agree to climb up to a higher cliff to jump off later.



    The survey found that reducing taxes on the "job creators" did not create jobs. Surprise, surprise. Our President will listen and then make a decision based upon several factors. We are all in this together.

  1. Mr. Strat

    Junior Member

    Joined: 01-23-02

    Deficits are a spending problem. Do you libs really think that any additional revenues from either those evil rich people or wherever - do you believe that the government would actually use that money to pay down the debt?

  1. Foe Hammer

    Fresh-Faced Recruit

    Joined: 02-16-05

    Ballmer sent Obama his office number, main number, cell number, fax number, home number, home fax number, wife's cell number, kids' cell numbers and dance instructor's cell number.

    Still no calls.

  1. Charles Martin

    MacNN Editor

    Joined: 08-04-01

    Lene, thanks for bringing up the old tired TelePromtTer canard. Good to see Republicans maintaining their long-standing tradition of being petulant sore losers.

    Yes, Obama is the first president to EVER use a TelePrompTer. Certainly that articulate master of the English language George Bush NEVER used one, nor his father, nor Reagan. NEVER!

    Oh wait, in fact they all used them ALL THE TIME.

    This also tells me that you have never bothered to watch the President on the MANY occasions where he's spoken extemporaneously. Like, for example, the debates. Or that video that's going around where he thanks his campaign workers. Or any of his rallies, interviews on TV, etc.

    Interesting that some people go after Obama for (on formal occasions, just like EVERY PREVIOUS PRESIDENT) using a TelePrompTer.

    Are you under the impression that only BLACK presidents need one, perhaps?? Cuz that's the impression I'm getting from YOU ...

  1. msuper69

    Professional Poster

    Joined: 01-16-00

    Stop spending money we don't have.
    Stop funding businesses that are not sound.

    Just stop.

  1. Charles Martin

    MacNN Editor

    Joined: 08-04-01

    Originally Posted by Mr. StratView Post

    Deficits are a spending problem. Do you libs really think that any additional revenues from either those evil rich people or wherever - do you believe that the government would actually use that money to pay down the debt?



    Deficits are not ALWAYS a spending problem. The government sometimes takes really BAD advice -- like the lie that reducing taxes on "job creators" (what a joke) increases the number of jobs.

    Clearly, the real world has proven -- for three decades now -- that this isn't true. It's just another "trickle down" lie from the ultra-wealthy.

    The current problem with deficits is PRIMARILY down to two main things:

    1. Two unfunded wars
    2. Rich people paying LESS in taxes than middle-class and poor people (as a percentage of income)

    Don't even bother trying to deny this, your own boy Romney admitted he pays less in taxes under these rules than middle-class people (and said it was only right for all those jobs he hasn't created ever).

    I certainly think there's some fat to be trimmed (the defense budget, primarily), but I would certainly like to see tax rates for the wealthy RESTORED to where they are supposed to be. Look at the tax rates during boom times in our economy and guess what you'll find -- much HIGHER taxes on corporations and the wealthy. I don't think we need to go back to the historic high tax rates, but a modest restoration of tax rates (like what we had under Clinton) and a restoration of taxes on non-job-creating capital gains in particular would really help matters.

    Of course, I'd like to see tax BREAKS for companies that ACTUALLY create good-paying jobs in the US -- oh wait, Obama has been trying to get those pushed through for YEARS, guess who's blocking that.

  1. climacs

    Forum Regular

    Joined: 09-06-01

    Chas_M, where do I subscribe to your newsletter?

    With Bush the Lesser, we had two failed wars, 9/11, Katrina, a government surplus turned into trillion-dollar deficits, and an utter meltdown of the economy on his way out the door.

    With Obama, the worst that the right wingnuts can hang on him is Teleprompter and OMG BENGHAZI BENGHAZI BENGHAZI. Oh there's Obamacare too, but it turns out that the American people actually like it.

    What's it like being wrong all the time, Obama-haters? Don't you ever feel embarrassment? Y'all really need to STFU. By the way, Obama is the first president since Reagan to win two terms with a majority of the popular vote both times.

  1. LenE

    Fresh-Faced Recruit

    Joined: 05-19-04

    Climacs and Chas_m; I'm glad the mention of the TelePrompTer got you guys all frothed up, but you weren't paying attention to the substance of my post. O is for show. There was no substance, only a speech and a photo op when he met with his jobs council. What the country needed, and still desperately needs, is jobs.

    Instead of meeting with small business owners, who do the lion's share of hiring, he "met" with CEO's of large companies. I use quotations, as he really was just sharing the room with them. Most of the represented companies are multi-national, and have the majority of their supplier workforce overseas. Apple is no different. Sure the Foxconn workers don't work directly for Apple, but for those individuals working on the iPad lines in China and Brazil, they pay no US tax, and don't support our growing welfare state.

    Instead of taking advice from people who actually know about how the economy works, and how to employ people in the productive non-government sector, he ignored them and went full steam ahead on his vote buying food stamp operation. Our unemployment rate has only lowered this year because of people falling out of the tail end of unemployment program. I thought it was tragic that the African-American community in this country had double the unemployment rate of the country overall, but apparently that community is getting exactly what it wanted.

  1. Charles Martin

    MacNN Editor

    Joined: 08-04-01

    Originally Posted by LenEView Post

    Climacs and Chas_m; I'm glad the mention of the TelePrompTer got you guys all frothed up



    Well we don't much care for hypocrites and liars, and tend to call them out. :)

    There was no substance, only a speech and a photo op when he met with his jobs council.

    Your reading comprehension skills are really poor, possibly due to your OMGBLACK-colored glasses.

    Go back and read the article above again. What Jobs Council are you talking about? What speech? What photo opportunity?

    The story is about Obama CALLING ON THE TELEPHONE some CEO's to consult on how to get CONGRESS to work TOGETHER to get something DONE to balance taxes and improve the economy. Heaven knows those people don't know anything about business, or how to tackle difficult problems.

    Oh dearie me yes, we can't have the President doing THAT!! :lol:

    What the country needed, and still desperately needs, is jobs.

    Then maybe you shouldn't have let your Republican pals ship them overseas ... just sayin'.

    Instead of meeting with small business owners, who do the lion's share of hiring, he "met" with CEO's of large companies. I use quotations, as he really was just sharing the room with them.

    You should be using quotation marks because you just made this entire thing up. He CALLED people. ON THE PHONE. You are living in a fantasy world based on where you get your [S]propaganda[/S] news. I'm going to guess your main "news" source has the initials FNC.

    Instead of taking advice from people who actually know about how the economy works, and how to employ people in the productive non-government sector, he ignored them and went full steam ahead on his vote buying food stamp operation.

    Yes, we're all rolling in food stamps now, suckers! :lol:

    Seriously, you are misinformed. Food stamp use, for example, has gone DOWN recently. Use of food stamps spiked after your boy Bushie tanked the economy. Of course, I'm unfairly using FACTS to counteract your racism-based arguments ...

  1. LenE

    Fresh-Faced Recruit

    Joined: 05-19-04

    Are you calling me a hypocrite and a liar? I see nothing I stated that was either hypocritical or inaccurate. Possibly sarcastically colored, but not a lie.

    You are right that the original article did not reference the jobs council, I did. Why would I do that? Because it is the same sleight of hand as this current drivel about calling these CEO's. Note, this was not Apple coming out and saying that President Obama called Tim, nor J.P. Morgan-Chase, or GE, or Costco. This was a press release by the White House to show that President Obama is engaged with a problem he created here, even as he is jet-setting over to Burma, and calling it Myanmar.

    I am quite focused on the fiscal cliff and jobs here in the U.S., as I do worry about my own and my industry. I will admit that I work in one of the remaining manufacturing sectors still on our shores, but the sequestration is a looming axe. Call me a Republican if it makes you feel better. I see myself as a former Democrat that grew up and started paying bills and taxes.

    By the way, here's some facts about food stamps for you. I don't know what your time horizon is for 'recently', but with food stamp usage growing at a rate that is 75x the rate of job growth in this country, you can't expect anyone to take your assertion seriously.

    My criticisms of President Obama are not based on race, but on his bad economic policy. Steve Jobs gave him sound advice, and he ignored that, too. As I flatly stated in my first post, this is only for show. Perhaps, now that he has a second term, he will become more pragmatic and focus less on class warfare, but that is not what is showing in his fiber.

  1. LenE

    Fresh-Faced Recruit

    Joined: 05-19-04

    Originally Posted by chas_mView Post

    I'm going to guess your main "news" source has the initials FNC.



    Nope. I don't have cable (can't afford it because I'm not on food stamps). It is amazing what you learn when you read in depth from all sides of an issue, then make up your mind.

  1. climacs

    Forum Regular

    Joined: 09-06-01

    my business is much better off since Obama took office. I don't think that he had a direct effect on my business, but certainly the government influences the direction of the economy and I think he's done a very good job. The volume of my business attests to that. As an aside, I am a freelancer in the media business, primarily with corporate clients. We are the first to get cut when things go south and the first to get busy when things are getting better. Pretty convinced that my niche is a leading economic indicator.

    In any case, anybody who has any investments is much MUCH better off since Obama took office. That's an undeniable fact and if you can't acknowledge that, then you really have your head up your bum. We'd be even better off if the GOP had not adopted a policy of obstructing anything Obama proposed for the last four years.

  1. JackWebb

    Fresh-Faced Recruit

    Joined: 08-31-07

    Originally Posted by efithianView Post


    The survey found that reducing taxes on the "job creators" did not create jobs. Surprise, surprise. Our President will listen and then make a decision based upon several factors. We are all in this together.



    Oh, I didn't know tax cuts were even a consideration. Even republicans are offering reducing our deductions which is a tax increase. So did they all say they'd create more jobs if taxes are increased? Maybe it will help the big companies eliminate the smaller companies that are their competition that can't escape the taxes as easily by keeping them overseas like Apple is able to. Actually taxes are already higher with the affordable healthcare act. And US has the highest corporate tax rate in the world (39.2%) now that Japan lowered theirs recently. So, sure, let's raise taxes more and reduce the deficit by 8%. If all goes well we should hit a debt of 20 trillion in 3 years and 4 months instead of in just 3 years and 1 month.

  1. The Vicar

    Junior Member

    Joined: 07-01-09

    Originally Posted by Mr. StratView Post

    Deficits are a spending problem. Do you libs really think that any additional revenues from either those evil rich people or wherever - do you believe that the government would actually use that money to pay down the debt?



    Funnily enough, the previous Democratic president left behind a budget surplus, which was earmarked for paying for debt and Social Security. Then the Republicans got in and turned that into a deficit by giving tax breaks to everyone, but disproportionately to the very rich. Then they put together an unfunded Medicare program (part D) and a pair of unfunded wars (Iraq and Afghanistan). All of that was borrowed money to go on the debt. We didn't hear a peep out of nitwits like you at the time about how that debt was bad for the country.

    In other words, if the Republicans actually cared about the debt or the deficit, they could have done something about it. They had a huge opportunity, and instead of acting on it they did the contrary. Therefore we know that they don't actually care -- in fact, come to think of it, Cheney rather famously said "Reagan proved deficits don't matter" -- so you're just yet another Republican liar. You only care about spending when it's on things which actually make the country better, like education or infrastructure. If it's being spent on your pet projects -- the military and prisons -- then it's okay. Screaming about the deficit is just a stick to beat the drum with, not actually an issue to take seriously.

    Get bent, jerk. The sooner people like you die painfully in a fire, the better it will be for everyone else in the entire world.

  1. besson3c

    Clinically Insane

    Joined: 03-03-01

    Originally Posted by chas_mView Post



    Deficits are not ALWAYS a spending problem. The government sometimes takes really BAD advice -- like the lie that reducing taxes on "job creators" (what a joke) increases the number of jobs.
    Clearly, the real world has proven -- for three decades now -- that this isn't true. It's just another "trickle down" lie from the ultra-wealthy.
    The current problem with deficits is PRIMARILY down to two main things:
    1. Two unfunded wars
    2. Rich people paying LESS in taxes than middle-class and poor people (as a percentage of income)
    Don't even bother trying to deny this, your own boy Romney admitted he pays less in taxes under these rules than middle-class people (and said it was only right for all those jobs he hasn't created ever).
    I certainly think there's some fat to be trimmed (the defense budget, primarily), but I would certainly like to see tax rates for the wealthy RESTORED to where they are supposed to be. Look at the tax rates during boom times in our economy and guess what you'll find -- much HIGHER taxes on corporations and the wealthy. I don't think we need to go back to the historic high tax rates, but a modest restoration of tax rates (like what we had under Clinton) and a restoration of taxes on non-job-creating capital gains in particular would really help matters.
    Of course, I'd like to see tax BREAKS for companies that ACTUALLY create good-paying jobs in the US -- oh wait, Obama has been trying to get those pushed through for YEARS, guess who's blocking that.


    3. Health care, which costs trump both #1 and #2.

  1. Charles Martin

    MacNN Editor

    Joined: 08-04-01

    Originally Posted by LenEView Post

    Are you calling me a hypocrite and a liar?



    Yes. Because you are.

    I'm also suggesting your views are "colored" by certain factors that make Obama different than previous presidents.

    You are right that the original article did not reference the jobs council, I did. Why would I do that? Because it is the same sleight of hand as this current drivel about calling these CEO's.

    So you're saying he DIDN'T call these CEOS. And your proof of that is ... oh that's right NOTHING.

    So you bring up something COMPLETELY UNRELATED to the story because ... oh that's right NO REASON.

    My criticisms of President Obama are not based on race, but on his bad economic policy.

    Given that Congress has BLOCKED Obama's economic policies entirely, can you explain how you come to believe they are bad? Aren't you really saying that the Repubican HOUSE's economic policies are bad?

    Perhaps, now that he has a second term, he will become more pragmatic and focus less on class warfare, but that is not what is showing in his fiber.

    Yes, he's been SO focused on class warfare rather than, I don't know, cleaning up the mess your boy Georgie created. You Republicans lie a lot, but when you pretend to be "former Democrats" it's particularly amusing. And transparent.

  1. Grendelmon

    Mac Enthusiast

    Joined: 12-26-07

    Originally Posted by LenEView Post


    Nope. I don't have cable (can't afford it because I'm not on food stamps).



    Huh. I can't afford cable either but I don't have food stamps. So how did you afford a Mac computer if you aren't on food stamps, either? I'm shocked.

  1. Spheric Harlot

    Clinically Insane

    Joined: 11-07-99

    Originally Posted by GrendelmonView Post

    [QUOTE=LenE;4202700]
    Nope. I don't have cable (can't afford it because I'm not on food stamps).



    Huh. I can't afford cable either but I don't have food stamps. So how did you afford a Mac computer if you aren't on food stamps, either? I'm shocked.[/quote]

    He bought it on his tax refund last year.

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