from Townhall.com Why Obama Does Not Get it by Bruce Bialosky

Excerpt:

Mr. Obama may be a smart man, but he cannot become a business brain through osmosis. It takes experience and a certain aptitude, neither of which he appears to have shown any interest in obtaining. He never even worked at a McDonald’s to understand simple business basics. There he would have observed manpower requirements, personnel management, inventory control, quality control, customer relations, and more – even if he was just an entry-level employee.

It is highly doubtful that anyone ever informed Mr. Obama that his recent small business bill will never work. First, the principal reason that a loan bank for small businesses is even necessary is because the federal government has soaked up almost all available funds to feed the massive $1.3 trillion deficit. Second, the economic uncertainty – directly caused by the Administration’s senseless obsession with raising taxes and imposing crippling new costs on American companies – has made small businesses hesitant to seek loans at all. To many entrepreneurs, the issue is no longer how to grow the company – it’s how to sell it! Finally, businessmen know that these artificially-low interest rates won’t last, and they realize that if they commit to adjustable-rate loans, they will eventually get whacked with unaffordable interest costs.

HKO comment- what is sorely missing from this economy is new business start-ups. I hear little about new businesses but I hear much from my collegues about jumping on the next opportunity to sell their businesses.

print