This week, Intel CEO Paul Otellini and Jim Tisch, CEO of Loews Corp. both blamed the President's policies for creating an environment of "uncertainty" that is crippling America's economy.
The Obama administration is "flummoxed by their experiment in Keynesian economics not working," Otellini said Monday in a speech in Aspen.
Higher taxes and more regulation add an additional $1 billion to building a semiconductor manufacturing plant in the U.S. vs. overseas, the CEO said.
As a result, "the next big thing will not be invented here. Jobs will not be created here," Otellini said, warning of "an inevitable erosion and shift of wealth, much like we're seeing today in Europe...this is the bitter truth."
the bitter truth about americas future big ceos bash obama: Tech Ticker, Yahoo! Finance
08-26-2010, 11:20 AM
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