This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

CAPITAL CULTURE: Obama Taps CEOs For Lunch Bunch

NANCY BENAC

WASHINGTON (AP) ¿ The fare can be as simple as a cheeseburger and fries. The lunches are often pay-as-you-go affairs. Yet they are some of the most coveted invitations in town.

Five times since last summer, President Obama has invited a small group of corporate CEOs in for a private lunch at the White House.

The business titans gather with Obama in his private dining room just off the Oval Office, or elsewhere in the White House, to talk over global economic policy, corporate bonuses, climate change, high school dropout rates and more.

There's no set agenda as the president picks the brains of some of the brightest minds in the corporate world. But Obama said the sessions have helped him think through ways to create a "smarter economy."

Early on, when the economy was reeling, his conversations with corporate leaders had a "solving-the-problem-right-in-front-of-you flavor," Obama said. But now that the situation has stabilized, he's able to think through "bigger, strategic questions" with them, Obama told Business Week last month.

The CEOs, for their part, get to offer perspectives from the corporate suite, and size up the president in an unrivaled setting.

Lew Hay, chairman and chief executive of power producer FPL Group Inc., remembers his lunch with the president last October as a "kind of heady experience," and said the president went out of his way to put his four lunch guests at ease.

"It was far easier to relax in his presence than I think any of us would have expected," Hay said in an interview, adding that Obama seemed intent on getting all he could out of the session.

"Sometimes people talk to you, and they're going through the motions," Hay said. "He was deeply engaged through the entire time."

The lunches are part of a broader administration effort to reach out to big business at a time when even Obama has acknowledged there's a perception that his administration has been anti-business. This is a president, after all, whose finger-wagging at "fat cat bankers" and "obscene" executive bonuses grated with corporate chieftains.

1 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs