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Archive for March 14th, 2009

Ceo4aday, the blog that offers a “perspective from a corner office” is pleased to announce that we have surpassed 100,000 views since our launch in December, 2008 ! The blog offers commentary on politics, the economy, business and entrepreneurship.

We remain focused on the actions of the Obama administration as they address the current economic crisis and the anticipated results of the American Recovery and Investment Plan of 2009. We also take note of Speaker of the House, Nancy Pelosi’s attempt to inprove her flight status.

We are encouraged by the recent positive rhetoric emerging from the Obama administration as it relates to the market and expect it will continue as the markets have  begun to rally in the past week.

We thank all our readers for your support and look  forward to continuing to provide topical commentary on the issues of the day.

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President Barack Obama, has become the cheerleader-in-chief of the American economy over the past few days and the market has noted the difference. The Dow was up over 9% this week after being battered since Obama took office. The President consistently addressed the economy in a negative tone since his election as he sought to lower expectations for his administration and referred to the economic crisis as a catastrophe that was the worst the nation has seen since the Great Depression.

This week the President’s tone changed and the administration trotted out Paul Volcker, the former Fed Chairman and Larry Summers, the former Secretary of the Treasury to support current  and floundering Treasury Secretary Tim Geithner. Geithner has come under increasing pressure as has failed to provide a detailed plan to address the toxic assets on the balance sheets of America’s largest financial institutions. Geithner’s failure to provide a detailed plan has contributed to additional uncertainty on Wall Street and the global markets.

Why the sudden change in tone? It may be that the administration has finally connected the economic dots between Wall Street and Main Street. With 109 million Americans invested in the stock market what happens on wall street has a dramatic affect on Main Street.  In an economy that has lost seven trillion dollars in the stock market and six trillion dollars in real estate valuations it was time for the administration to step out and begin promoting positive elements of the American economy.

No doubt, this President was bothered by a media that was beginning to question this President’s commitment to capitalism and the free enterprise system. A New York Times reporter last week asked the President if he was a socialist. The question clearly bothered the President as he called the Times back to clarify his response.

Ceo4aday has repeatedly commented on the importance of President Obama taking a more confident tone on the economy and believes that support for innovation and entrepreneurism should be among this administration’s highest priorities. The aggressive social agenda that the Obama administration is promoting can only be successful in an environment where the economy is robust. It appears from the administration’s action this week that they have been reminded of this by a nation eager to produce.

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