Obama Meets With Blue Chip CEOs
WASHINGTON (
) -- President Barack Obama met with 20 executives from top U.S. companies Wednesday, encouraging a "shared mission" in building jobs and economic growth.
"This morning I hope to elicit ideas from these business leaders that will help us not only climb out of recession but seize the promise of this moment," Obama said, prior to the meeting.
The president invited the leaders of blue chip firms such as
General Electric
(GE) - Get Report
,
(GOOG) - Get Report
,
Intel
(INTC) - Get Report
,
Comcast
(CMCSA) - Get Report
,
PepsiCo
(PEP) - Get Report
,
Dow Chemical
(DOW) - Get Report
,
Cisco Systems
(CSCO) - Get Report
,
UBS
(UBS) - Get Report
and many others to air their ideas on how to boost hiring in the U.S.
The meeting was widely viewed as step toward repairing relations between the president and big business; corporate leaders have criticized the Obama's administration over its policies regarding healthcare, financial reform and taxes.
"Things were said on both sides that shouldn't have been and did not further the opportunity to work together. This is our chance to do that," said
Honeywell International
(HON) - Get Report
CEO Dave Cote.
"I give the president a lot of credit for being the man big enough to say 'let's restart, let's work on how do we create a more vibrant economy,'" he said to a group of reporters as he left the meeting at the Blair House, opposite the White House.
Corporate leaders were likely pleased with the
passing of the controversial tax cut extension in the Senate earlier Wednesday afternoon.
Ahead of the meeting the President Obama said he would be looking to the corporate leaders for ideas on tax reform and a "balanced approach to regulation that will promote, rather than undermine, growth."
Obama said he wanted "ideas that will help businesses to invest in America and American jobs, at a time when they are holding nearly $2 trillion on their books."
"It's a great step he's taking, meeting with CEOs," said GE chief Jeffrey Immelt on Tuesday, adding that the tax cuts and CEO gathering together "are real positives."
Verizon Communications
(VZ) - Get Report
CEO Ivan Seidenberg, at a Dec. 8 news conference, commended the president for "a willingness to learn," referring to Obama's concession to extend Bush-era tax cuts to wealthier high-income Americans.
-- Written by Miriam Marcus Reimer in New York.
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