Obama to talk to US bosses on economy

first_img whatsapp Obama to talk to US bosses on economy KCS-content US President Barack Obama will hold a one-day summit of chief executives on Wednesday as part of a renewed effort by the White House to build support from among business leaders for his economic agenda.The administration expects bosses from Google, Cisco Systems, International Business Machines, American Express, Dow Chemical and Pepsico to attend the meeting to discuss trade, tax, regulatory issues and the deficit.The Obama administration wants to persuade US firms to release some of the $1.93 trillion (£1.22 trillion) in cash and other liquid assets they are thought to be hording.The Federal Reserve said last week that cash as a share of total assets is at the highest level it has been in a half-century. President Obama is keen for America’s biggest companies to invest that money in expansion and job creation.The summit will include substantial discussions on overhauling the tax code and cutting the budget deficit as well as discussions over providing “a balanced approach to regulations.” The meeting will be held in private in contrast with some previous White House meetings involving business leaders. It is expected that holding the meeting in private will allow business leaders to speak more candidly than the have felt able to in previous more public meetings.While Obama has met with chief executives since the start of his administration some have complained he has ignored their views. Business leaders have also expressed concern at the President’s occasional sharp criticism of multi-national companies, and his administration’s regulatory and tax policies. More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKiller drone ‘hunted down a human target’ without being told tonypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comConnecticut man dies after crashing Harley into live bearnypost.com Share whatsapp Sunday 12 December 2010 10:32 pm Tags: NULL Show Comments ▼last_img