Archive for January, 2009

Ceo4aday did it again. We set a new daily  record of visitors to our site with 915 hits today a 50%  increase in traffic in just one day. Thank you for supporting our site and reading our articles. 

We remain focused on heralding entrepreneurship and commenting on topics of interest. We encourage and appreciate your comments.


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The Senate has approved the much debated and much discussed Obama nominee, Timothy Geithner as United States Secretary of  The  Treasury. Geithner, along with former Treasury Secretary Larry Summers, will now lead the charge for the Obama Administration as they battle an economy mired in a deep recession.

First mission for Geithner, will be to oversee the distribution of the remaining $350 billion dollars of TARP funds and move quickly to assist the President in driving a new economic stimulus plan through Congress.  With the recession deepening and the controversy over the initial distribution of TARP funds Congress, will be watching Geithner’s performance closely.

Geithner, has been touted by the new Administration as the most qualified person to fill the role of the Treasury Secretary despite a controversy over his failure to pay certain payroll taxes while employed at the IMF. The fact that Geithner was approved by the Senate,  given his tax issues and that he now has oversight for the IRS is reflective of the extraordinary economic crisis the nation is currently experiencing.

Under other circumstances it is difficult to believe that Timothy Geithner would have ever been approved for such a critical appointment in fact, he would most likely have disappeared from such high profile public service.

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Job cuts continue to be announced by America’s leading employers. Today, Caterpillar, General Motors, Home Depot and Sprint Nextel announced a combined 37,000 job cuts, with Caterpillar alone, reducing its workforce by 20,ooo. As a litany of unsettling economic news streams across America and the world, it contributes to further erosion in consumer confidence thereby, affecting consumers willingness to spend and further eroding the economy.

The White House, in its’ effort to promote the need for Congressional urgency, with respect to enacting an economic stimulus plan, has indicated that the economy will worsen before it improves. Harbingers of doom and gloom reign supreme throughout the media.

It would appear to Ceo4ady, given the aforementioned, that there is no better time than the present, to wake up America and rise to the economic challenges before us. There is no better time than today to recall the entrepreneurial spirit that has created the wealthiest economy in the world. There is no better time than today to embolden American’s entrepreneurial spirit by supporting the creation of the United State Office Of  Entrepreneurship.

The USOE, would be an independent Federally funded agency, that would  provide venture and expansion capital to qualified American entrepreneurs. We suggest, that as a nearly trillion dollar stimulus plan is being debated in Congress and the White House and as additional TARP funds are released to support Citibank, Bank Of America, the Auto Industry and the Insurance Industry it is time to support the innovation and inventiveness of America’s entrepreneurs.

Join Ceo4aday as we call on Congress and the White House to enable America’s entrepreneurs by supporting the initiative to create the United States Office of  Entrepreneurship.

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Ceo4aday would like to thank its readers for their continued interest in the topics we choose to write about. We are a new Blog having just completed our seventh week, with a record day of nearly 600 hits yesterday and 2200 hits for the week!

We have noted significant interest in our call for the creation of The United States Office of Entrepreneurship as well as our Ceo4aday Presents: A Journey To Acquire series, which details a current journey we are on to acquire a new enterprise.

We will continue to opine and comment on topics of interest and appreciate your comments and input.

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The departure of former Merrill Lynch CEO John Thain, from Bank of America, presents another opportunity for the world to marvel at the excesses of  Wall Street and the lack of sensitivity to the current economic environment.

At a time, when taxpayer supported financial bailouts and economic stimulus plans are the rule of the day,  Thain has managed to become a poster child, for the elite CEO, that is seduced by the power of their position and their access to great wealth. He is the newest member, of an exclusive and infamous club of CEO’s that  lose their perspective and believe they are exempt from the rules by which prudent CEO’s govern themselves in the execution of their duties.

Decorating ones office is a perk that comes with the role of the CEO. Retaining a decorator is not at all uncommon and may be prudent, if one is trying to maintain consistency within the corporate office. Paying $800,000. dollars for a decorator in this environment though is indeed excessive.

I have had occasion, as a CEO,  to plan and build a corporate headquarters facility. I retained a decorator to maintain the consistency throughout the corporate offices, that I felt at the time was required, to  project the level of professionalism that was important to our associates, shareholders and customers.

My own corner of the offices were replete with private bath and shower, private conference room and appropriate furnishings to allow me to perform my duties. However, my office tasteful as it was, provided a functional working environment that was consistent with the other offices throughout the facility,  as opposed to an elitist space with an $87.000. area rug or a $35,000. commode.

I have always viewed the opportunity to serve as a CEO in a company as a great privilege. When I hear or read about excesses or abuses by CEO’s it pains me. Communicating a vision for an enterprise or organization, developing a strategic plan, forming strategic alliances and working with your team members every day to create definitive value for stakeholders are in my mind the essential roles of a CEO. Spending corporate funds excessively on ones self, does not create value for shareholders and ultimitely serves to taint one’s judgement and detract from the value one may have contributed to the organization.

One can only pray that at a time when our economy is challenged that CEO’s remain focused on their bottom line and maintain the discipline to remain prudent in their charge.

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Within a year, the infamous terrorist holding facility in Guantanamo Bay, is to be closed. In a signing ceremony in the oval office,  surrounded by the Vice President and other members of his team, President Barack Obama issued an executive order directing the closure of the facility within a year.

The question, as to what to do with the detainees or where to send them upon closure of the facility, remains to be answered.

In his haste to placate the left and change what they perceive to be a negative global perception of both Gitmo, as the facility has come to be known, and the United States, Barack Obama has quickly moved to signal that the era of Bush is over and the era of Obama has begun.

Whether one agreed with the politics of the Bush Administration or not, it can not be argued that the former President and his team failed to keep America’s shore safe, since the 9/11 attacks. One prays that the Obama administration will be able to make the same claim when their administration comes to an end.

In the interim, America will strive to stay safe and secure with a new dictum that prohibits “threats, coercion, physical abuse and waterboarding”. Torture is a word that cojures the worst acts of humanity in my mind. However, if extreme behavioral activities, are required to maintain the nation’s security then I believe, we should tread warily as we reconfigure our intelligence gathering methods to provide a smiley face for the world.  

I suspects that in some circles,  the President’s executive order  has caused some to pause while others smile.

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 As Congress and President Obama continue to debate a new stimulus package for the American economy and increase our investment in America’s financial institutions, it is time for America to raise up and sing glorious the entrepreneurial spirit that is the soul of this great country.

It is time to create the United States Office of Entrepreneurship, an independant agency, for which the sole purpose would be to provide venture capital that would assist new ventures with capital investment and provide expansion capital for recent start ups to grow their businesses.

 Existing and current stimulus plans call for trillions of dollars to be injected into the economy to shore up our largest banks and other financial institutions at a time when credit has become increasingly constrained to entrepreneurs.

What better way to shake this nation out of its economic doldrums, than to support the enablers of the American Dream, our nation’s entrepreneurs, with an alternative source of capital to launch new companies and support the inventiveness and innovation that has enabled America to become the world’s richest economy.

We do not propose burdening the nation with an extensive layer of additional bureaucracy, but rather initiate a well funded, lean investment machine, that can asses and respond with an appropriate urgency to the capital requirements of qualified entrepreneurs.

Ceo4aday, supports the initiative to create the U. S. Office of Entrepreneurship and recognizes the value of our entrepreneurial based economy. We urge your support of this initiative and America’s entrepreneurs.

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