The 'But' Economy

[charrison]

linkage

BY JACK WELCH

Guess what? There is an economic recovery under way, but you never would have known it last week when earnings reports came out. Even though many companies from battered sectors--including some companies left for dead just two or three years ago--recorded positive results, their successes were almost universally reported with the word but prominently featured. The stories in the papers and on TV went something like this:

? Sales were up--but analysts warned that cost cutting explained most of the gains.

? Earnings were up--but the mood of optimism was tempered by concerns about global competitiveness.

? Cash flow was up--but the company still faces harsh tests in coming months.

Now, I am not claiming that the economy is fixed. It's not. And there are, obviously, challenges ahead if a full recovery is going to occur. It's undeniable, however, that most companies are posting significantly improved results. Not only can millions of hardworking people celebrate--they should. They've earned the right. That's why we can't rain all over their efforts--their motivation and innovative spirit and can-do attitudes. Those good feelings, as any economist will tell you, are key drivers of company productivity and consumer confidence. The fact is a recovery will be a lot harder if we keep saying "but" about damn good news.


...

The facts are, companies are not bricks and mortar, but people, with blood and sweat and tears. People are the reason for the recent recovery, and people are the reason it will continue--if it does. That's why we need to tell the people who have earned it not "but," but "Bravo."

 

[CADsortaGUY]

yeah, but....<insert excuse why this guy sucks and why his opinion is biased>

CkG

 

[markuskidd]

ok

 

[Ferocious]

He's a Republican and a big Bush supporter.

But I tend to agree with him.

It's just that there needs to be meaningful job growth imo. Walmart jobs just don't cut it if we are to maintain a strong middle class.

And I've yet to see evidence of that.

 

[SuperTool]

Not only do we need to stop saying "but", but we also need to put a huge "Mission accomplished" banner on this economy

 

[BDawg]

The economic recovery is hollow if there aren't reductions in the unemployment figures...and not just the reductions that happen when people get frustrated and take themselves out of the workforce.

 

[dmcowen674]

From the same article:

Now, I'm not suggesting "irrational exuberance" again. First of all, it's not warranted (yet), and giddiness about the economy didn't really help last time. And I'm also not asking that people forget what happened during the boom. Some companies and executives absolutely earned the right to get nothing but disrespect and doubt.

If we are ever to get competitive again, though, we can't indiscriminately put a negative spin on what is legitimately good news. We live in a global economy; India and China get stronger and better every single day. To have a fighting chance, companies need to get every employee, with every idea in their heads and every morsel of energy in their bodies, into the game.

The facts are, companies are not bricks and mortar, but people, with blood and sweat and tears. People are the reason for the recent recovery, and people are the reason it will continue--if it does. That's why we need to tell the people who have earned it not "but," but "Bravo."

Mr. Welch is former chairman and CEO of General Electric.

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Mr Welch is right, it is about the people BUT he left out the one important point, the reason India is getting stronger everyday, the people doing the jobs are no longer in the United States, the jobs have been shipped to India.

So OK sure I'll say Bravo to the new workers for U.S. Companies in India, great job on the bottom line and Profits for the U.S. Companies you represent.

 

[GrGr]

"Faith based initiatives" indeed. Don't question why, if or but just shut up and get with the program. bah