Monday, August 29, 2011

I Say Something Good About A Major Corporation's CEO

In a Financial Times interview, Doug Oberhelman, chief executive of Caterpillar, makes two important points.  First, he gives "a pox on both their houses" statement about the recent debt ceiling debacle:
“The process was ugly and it was a red herring of a problem,” Mr Oberhelman said. “The politicians turned [it] into this big giant thing that scares people. I’m equally critical of both sides.”
Second, he decries America's failure to improve its infrastructure.
“Spending on infrastructure made us one of the most competitive economies on the planet. But now our infrastructure is deteriorating badly. We have decided as a country not to invest in infrastructure any more. It’s short-sighted and it’s dangerous for the future of our country. We cannot give up our international competitiveness. That’s what’s at stake.”
I'm sure Oberhelman want so sell more earth movers, but that doesn't mean he's wrong.  He's absolutely right; the poisonous political debate will have long  term, concrete consequences.  (Pun semi-intentional)

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