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TMFEditorsDesk (< 20)

Obama Vs. Corporate America -- Check Mate!

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July 31, 2009 – Comments (9) | RELATED TICKERS: HON , KO , XRX

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.

 

-Jordan (TMFPhillyDot)

9 Comments – Post Your Own

#1) On July 31, 2009 at 12:00 PM, TMFRhino (98.24) wrote:

Excellent article Jordan. Very insightful.

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#2) On July 31, 2009 at 12:01 PM, TMFEditorsDesk (< 20) wrote:

Thank you. Very helpful comment.

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#3) On July 31, 2009 at 12:32 PM, FleaBagger (29.30) wrote:

Did you make all that up? I don't understand.

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#4) On July 31, 2009 at 12:39 PM, devoish (98.63) wrote:

What Flea said. Is there a real world event that inspired that post?

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#5) On July 31, 2009 at 1:16 PM, TMFEditorsDesk (< 20) wrote:

Sorry. Meant to add the link.

http://www.politico.com/news/stories/0709/25627.html

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#6) On July 31, 2009 at 1:31 PM, TMFEditorsDesk (< 20) wrote:

White House staff: "Mr. Gates and Mr. Crowley, we'll need to collect your credit cards to cover the cost of your highly-publicized beer rounds." 

- Katrina (TMF Toast) 

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#7) On July 31, 2009 at 1:37 PM, QualityPicks (78.88) wrote:

I rather be the other way around and the White House paid for the meals, but didn't give corporations billions in bailouts, subsidies, special laws, etc.

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#8) On July 31, 2009 at 3:03 PM, FreeTruth (< 20) wrote:

TMFNewsDesk: In the future, you should not put "fake" quotes from real company leaders in quotation marks to make them appear legimate.

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#9) On August 03, 2009 at 10:16 AM, drgroup (69.30) wrote:

"White House staff: "Mr. Gates and Mr. Crowley, we'll need to collect your credit cards to cover the cost of your highly-publicized beer rounds." 

At which point gates and crowley pulled out their corporate platinum amx cards and asked for another g&t....

 

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