CEOs Explain Why They're Not Hiring Despite Cash, Rising Profit

Washington Post:

Corporate profits are soaring. Companies are sitting on billions of dollars of cash. And still, they've yet to amp up hiring or make major investments -- the missing ingredients for a strong economic recovery.

Many Democrats say the economy needs more stimulus. Business lobbyists and their Republican allies say it needs less regulation and lower taxes.

Read the whole story: Washington Post

Comments

[proudem]

01:31 PM on 09/06/2010

Let me get this straight...CEOs are not hiring because people are not spending and buying their products but they are making record profits because they are not hiring because people are not buying their products...seems like an excuse more than sound business practices.

[Antifascist-08]

02:17 PM on 08/25/2010

I just got banned for commenting

bye bye HP

[Frog in a pot]

12:39 AM on 08/25/2010

These corporate dems and republicans all work for the same people and its not US!!
Why havent we had Warren...Stiglitz..Krugman?..People who care about the middle class???
Blaming republicans or democrats only goes so far .Thats what they want!!!
Divide and conquer....dont you get it YET???
Untill we wake up to the fact we are being played one against the other all the while the corporate interests steal our country and future we are doomed.”

[bassface49]

01:26 AM on 08/25/2010

THEY would rather you chased 'miceque'!

[bassface49]

01:26 AM on 08/25/2010

fanned and faved!

[Emmanuel Hall]

11:52 AM on 08/25/2010

Corporations are not hiring because they are using one or two employees to split a third job. Or they have one person doing two jobs. It is greed, it is some ugly way they use to increase their bottom line.
And they can get away with it by lying about their uncertainty of what the Obama administration is going to do. The Republicans use this corporate fairy tale to spread their misinformation to gain support for their only interest...to distroy this President. Whatever happened to the American news media?

[farmilyman]

03:11 PM on 08/24/2010

I'd bet all those people holding signs are paid by Freedom Works (Dick Armey,s PR firm).

[JohnBryansFontaine]

12:46 PM on 08/24/2010

One Nation Formed to Bring Back the American Dream
by James Parks

http://blog.aflcio.org/2010/08/05/one-nation-formed-to-bring-back-the-american-dream/

[dadw5boys]

04:15 AM on 08/24/2010

Ever consider that this is only the first wave showing that the basic employment levels are when the economy is in survivial mode.
The more robots in use the fewer workers needed and even fewer workers when the economy is down.

[dadw5boys]

04:12 AM on 08/24/2010

I don't see much change business is following the current business model of not producing anything for the warehouse mainly to keep to control prices.
Too much consoldiation has one company in control of several products and when there is no competition there is not over supply.

[wdw505]

08:32 AM on 08/24/2010

it is a good business tactic.........i have two lines in my company that we stock only 10% of what was ordered last week.......as the customer can go no where else thanks to patent protections

[dadw5boys]

09:14 PM on 08/24/2010

But what about other things like foods and engery.

You ever see the memo from the Interior Department to Japan in 2003 that said the U.S. would allow Japan to buy all the Natural Gas they wanted at below markets prices so there would not be an over supply in the USA pressing prices down.

In foods there are only a few companys producing all the stuff on the grocery shelfs.
Laws prevent new competition forcing them to use New unproven Technology instead of the old proven Technology that is Grandfathered in for old Corporations.

So many Barrier to Entry Laws that if you want to make MAYO as a new business and a single product you would be forced to show there is a need for this mayo and that you would not harm other producers income stream.

Competition is limited by law in too many industries keeping prices artifically high .

[LearningFromNature]

09:41 PM on 08/23/2010

It's getting worse... Not better... fear is rampant. Stay focused people!

Try not to feed the hate and anger. Enjoy each day as if it was your last. Spread the love. Help the needy. Enjoy the sunsets.

[Janine547]

06:47 PM on 08/23/2010

It's about time we quit playing the game and calling this 800bn a “stimulus” package. It was a political graft payoff package pure and simple. Anyone who is careful to close primarily Republican owned auto dealerships while taking over ownership of auto manufacturers isn't going to be spending any money just because it will help the economy at large.

Like everything else these thugs do, the money they managed to extort from the public in the name of helping the economy was very carefully targeted to help only those who support them.
If you look at the real goals of this spending bill it was a wildly successful payoff scam, that's why it can't be said to be successful if you try to analyze the propaganda image of the bill rather than the actual intent of it. Stop even calling this a stimulus package rather than a payoff or graft package and you can think about it clearly.

[wdw505]

05:48 PM on 08/23/2010

so what i outsource data entry to Honduras i pay 12 dollars a day per person total cost......i can not touch that cost in the states........the error rate is only .25% higher than in is here.......and i have zero equipment costs for the data entry...........they work 12 to 14 hours a day.......tell why i should pay much more in the states

[judiNJ]

05:56 PM on 08/23/2010

Because you are an American?

[wdw505]

05:58 PM on 08/23/2010

and that justifies the added costs how

[Laughlines]

03:24 AM on 08/24/2010

Paying someone $12 for 12 to 14 hours of work is not something I would admit. That's despicable. There is definitely something wrong with you. I'd love to know the name of your business so I could make sure I don't give you any.

[wdw505]

08:59 AM on 08/24/2010

actually in Honduras 8 per day is high pay as the company keeps 25% to cover the equipment used

[Janine547]

05:16 PM on 08/23/2010

You mean "Stimulus" didn't take care of this, SHOCKING !

[wdw505]

09:35 AM on 08/24/2010

nope..........surprise

[Lorianne]

01:30 PM on 08/23/2010

They ARE hiring ... just not here.

U.S. To Train 3,000 Offshore IT Workers in South Asia
http://www.informationweek.com/news/software/integration/showArticle.jhtml?articleID=226500202

General Motors To Invest $500M In Mexico Plant
http://online.wsj.com/article/BT-CO-20100803-721411.html

Good thing we bailed out GM !

Now It's Armenia: USAID Funds IT In Eurasia
http://www.informationweek.com/news/storage/disaster_recovery/showArticle.jhtml?articleID=226600094

[Jim Elkins]

06:14 PM on 08/23/2010

You mean Obamamotors is allowing hiring in MEXICO??? Isn't Barry the CEO??

[Monk2001]

09:57 AM on 08/23/2010

We aren't hiring because we have monopolies on many sectors and can therefore manipulate reality. ONCE the (D)'s are willing to bend to our will we'll start hiring again.

Who's fault is it that there aren't any jobs?

Strip these loser's of all subsidies. Sue them for the subsidies they've already received AND raise their taxes by 30%.

Hopefully they'll all move to Dubai.

[metacide]

02:56 AM on 08/23/2010

Its garbage that companies are doing this. i say raise their taxes unless they hire more people if their profits are soaring. they can blame the economy all they want but people still need many products such as clothes and food. they might go for cheaper brands but many items are going to continue to sell no matter how bad the economy gets.

[wdw505]

05:55 PM on 08/23/2010

try it.......and watch what will happen then

[Jim Elkins]

06:15 PM on 08/23/2010

Raise their taxes to force them to hire people they do not need??? Oh good Lord...

[Lorianne]

12:39 AM on 08/23/2010

General Motors To Invest $500M In Mexico Plant
http://online.wsj.com/article/BT-CO-20100803-721411.html

Good thing we bailed out GM!

[metacide]

02:57 AM on 08/23/2010

they should be stopped. that bailout money was supposed to keep americans employed. its american taxpayer dollars. companies that take taxpayer dollars should have the taxpayers vote on whether or not they can do absurd things like this.

[JNarragansett]

01:00 PM on 08/23/2010

Funny, one of the arguments about why bailing out the auto companies was a bad investment is that it would lead people to try and force the business to make decisions based upon political factors rather than economic.

GM is a car company, not a jobs program.