Will Jobs Czar Be able to Hault This?


Obama Job Summit: Another Manufacturer Opts Out of U.S.A.

by Warner Todd Huston

Should this be filed as a surprise?  How many are yet to follow. The problem with Obama and his ilk, is that American’s will not work for or as socialists. (see article on GM CEO Quitting) Random thoughts while observing the passing parade, J.C.

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On November 11, David N. Farr, Chairman, CEO and President of Emerson Electric Co., announced at the Baird 2009 Industrial Conference in Chicago that President Obama has succeeded in chasing his multi-billion dollar industry right out of the U.S.A. Why? Onerous regulation, high taxes, and the over $1 trillion Obama debt should be reason enough for any business to consider shutting down U.S. facilities and seeking greener pastures overseas says Farr.

The federal government is “doing everything in [its] manpower [and] capability to destroy U.S. manufacturing,” says David Farr, chairman and CEO of Emerson Electric Co., in a presentation at the Baird 2009 Industrial Conference in Chicago Ill., on Nov. 11. In comments reported by Bloomberg, Farr added that companies will continue adding jobs in China and India because they are “places where people want the products and where the governments welcome you to actually do something. I am not going to hire anybody in the United States. I’m moving. They are doing everything possible to destroy jobs.”

During his slide show on the state of Emerson’s business, Farr noted that the “unprecedented job loss experienced in this recession will result in a much slower U.S. recovery” and the federal government is making matters worse. The slide reports that the job loss this time is by many magnitudes worse than previous recessions. Noted are job losses from several recessions: 1980 with 1 million jobs lost; 1982 with 2.8 million; 1990 with 1.5 million; 2001 with 2.7 million. Finally Farr notes that we’ve seen a whopping 7.3 million jobs lost thus far (and climbing) in this 2008-2009-2010 recession.  Complete Story:

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