This week all the good and bad events of the week mingled at a global cocktail party, so crowded that they could not stay out of each others way despite trying to occupy opposite sides of the room. The G-20 and the Obama European Trip got a drink thrown in its face by news of another 650,000 plus jobs being lost here at home and a North Korean missile launch.
If you can walk away from any networking scenario having taken a couple names and numbers, you can call it a worthy time even if you don't close any deals. That's how this column would sum up Mr. Obama's European trip. He instilled confidence in the world that the U.S. is, frankly, going to act more level headed from here on out - listen more and attempt to see things from others respective perspectives. Did he get what he wanted? Well, that depends on who you ask. Some would say not at all because we didn't get a deeper commitment from our allies with regard to Afghanistan, nor did we get European governments to commit to more stimulus for the global economy. On the other hand, some would say that considering it was his first trip, it was a great success as he did, in fact, restore some faith in America's ability to lead the world. You can guess which partisans too which stances...
The world felt safe that President Obama would crash the car on the way home. And did we mention that he owns the keys to his own car corporation? Today's first guest, usual kudos to Betsy Fischer (executive producer), Fritz Henderson, the new installed CEO of General Motors, on the program this Sunday in the wake of this friend and mentor, Rick Wagoner, being ousted, essentially by Mr. Obama. With a few exceptions, Mr. Henderson's answers offered no real substance, but his posture did tell the story. He's been house-broken for certain, speaking in a conciliatory tone, accepting of every assertion Mr. Greogory made with regard to the Government taking over. For example, on the issue of bankruptcy, Mr. Henderson conceded that if it was needed, it would be done. When asked about specific mistakes that GM has made over the years, he didn't give any specifics. When questioned about a perceived double standard for the auto industry versus the financial sector, he prudently said that he wasn't going to focus on others, just how to make GM better. (That's good Fritz, here's another Scooby Snack...)
Ok, we kid but when he was asked why his salary wouldn't be the same as his predecessor's, $1, he flatly stated that he makes $1.3 Million. This column's immediate reaction was probably the same as everyone else's who was watching - that's a reasonable amount for the CEO of GM. And lastly, what we found very heartening is that when asked if he people to receive special incentives to buy GM, he said no. He wants GM to compete on a level playing field where it forces him and the company he leads to produce cars that consumers really want - respond to their preferences. Whether he knows it or not, Mr. Henderson instilled the spirit of what it is to be American into GM with that statement. But just because he's the chief and he said, it doesn't necessarily make it so.
This leads us to the panel discussion with Fmr. speechwriter to Pres. Bush, Michael Gerson; CNBC's John Harwood; BBC's Katty Kay; author Joshua Cooper Ramo; and Fmr. Chief Economist at the U.S. Department of Labor, Dr. Bill Rodgers. And we'll start with a statement from Mr. Obama - paraphrasing - just because Barack Hussein Obama was elected President, that alone doesn't make us safe [from Al Qaeda]. However, just because of the fact that Mr. Obama is President, our minimal optimism that things will turn around is buoyed.
All cute metaphors aside, Mr. Harwood made a key point, and that is with regard to the firing of Rick Wagoner - it's the riskiest decision that President Obama has made to date. The recession, Iraq, and Afghanistan (at least not yet) are not his, but GM and the auto industry are now sitting up on cinder blocks in his backyard.
Just because he's President did get the attention of other world leaders and that can not be underestimated because as all the attention draws toward economic issues, North Korea launches a missile bellyaching for attention and newly installed Prime Minister of Israel, Benjamin Netanyahu is making subtle preemptive statement with regard to Iran. Mr. Obama is going to have to capitalize on the confidence he instilled in the other world leaders to help him with a globally levelheaded approach to international crises. However, just because he's president, doesn't make us safe from Al Qaeda, again he said it, and by extension, just because his administration does use the phrase 'war on terror,' there are still acute and opaque wars going on. This column tries to keep its cynicism measured, but we have to agree with Mr. Gerson. [Aside: Mr. Gerson is a former speechwriter for President Bush. Despite this, the column found his views on today's program quite practical versus simply idealogical, which more accurately reflected the posture of the man he worked for. He actually made the point today that if it is necessary for the government to run some of these companies, they should. (Wow!)] The phrase,War on Terror has been replace with the O.C.O., Overseas Contingency Operation. To Mr. Gerson it sounded as though we 'looking for luggage' or something. We totally agree - only a wonky Democrat could come up with a stupid label like that.
John Harwood of CNBC summarized that maybe Mr. Obama didn't score this week, but he is moving the ball down the field and he's not turning it over. However, in this game, the red zone doesn't start on the other team's 20 yard line, it starts on Mr. Obama's 1 yard line and it's first and goal with 99 to go. And if by chance he does fall down and fumble the ball, the world may still think that everything is all right. Because why? Because he's President.
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