Obama Vs. Corporate America -- Check Mate!
Since the Obama Administration has taken post, there's always been a bit of skepticism from corporate America about how things might change. Despite the bank bailouts, the auto debacle, and the billions of dollars doled out in stimulus change -- the skepticism remains. From time to time, the Administration hints at policies or new regulations that may affect corporate America. It's like watching a boring chess match unfold -- until recently.
Bank bailouts. Stimulus money. Obama continuously taking advice and listening to the painful suggestions of large corporations. Nice move: Corporations.
Obama zooming in on tax loopholes, creating a stir about executive compensation, proposing more stringent anti-trust legislation. Nice move: Obama.
Last month, CEOs from Xerox (NYSE:XRX), Coca-Cola (NYSE:KO), and Honeywell International (NYSE:HON) visited the White House to talk business over lunch. Car ride over: CEO Dave Cote from Honeywell sneers as he exclaims "I'm getting the duck breast with braised fennel". CEO Ursula Burns of Xerox says she's a seafood lover -- maybe a "surf & turf", or "wild salmon salad". Upon entry, they order their favorite drinks: Belvedere & Tonic, Green Label on the rocks. Check: Corporations.
Over a nice lunch and some good conversation, the meal finally comes to an end. CEOs: bellies full, possibly even a nice afternoon buzz. Ready to hop back on their corporate jets and dine on someone else's card. Obama: quick wink to his staffer. Staffer moves swiftly and collects the credit cards of the CEOs. "What? You want our credit cards?", wail the CEOs. Darn right -- no free lunches at the White House my friend. Check Mate: Obama.