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Intermedia Partners' Leo Hindery discusses why the former Apple CEO said the president should be concerned about his political future.
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-- for one term presidency those words from the late apple visionaries Steve Jobs to President Obama and the fall.
Of 2010 this according to an upcoming biography of jobs by Walter Isaacson.
Lifelong Democrat and Obama supporter reportedly became disillusioned with the president.
And the Democratic Party over the nation's weakening economy and the business climate -- reaction we're joined.
By former economic advisor mr.
Obama before it was president Intermedia partners managing partner -- Injury junior couldn't safely and thanks always a pleasure David it's all do you agree with Steve Jobs.
You know I actually pretty familiar with the dinner that it did was the occasion of of Walters quote about Steve Jobs there.
All gosh no no I was not there idea I'd I'd know it fairly intimately from from people who were there and and and and a press reports.
Steve Jobs in is is a hypocrite on this issue -- and really needs to be called out for this doesn't diminish his visionary.
Qualities that did the contributions He made in founding in industry which are unparalleled.
But Steve has 25000.
US employees and 250000.
Working over in China in deplorable working conditions.
With affluence and -- -- spewing into the water and into the air.
And He criticizes.
Us for having regulations that cause him to.
Move these jobs over -- steep move them over there because it was -- cheaper.
Environment -- He -- -- here in yet every one of these jobs and we know this bit by fact David could've been done up in Oregon and northern California.
By by women and men who -- unemployed today.
In and I think that for Steve Jobs to be the one who calls out any administration this what are any of -- For regulations that -- -- drove him to China is is a little disingenuous or -- a fascinating perspective because right now the image of Steve Jobs I mean that you know nobody likes to criticize somebody's passed away but is.
It's close to sainthood in the United States it's close to sainthood but but He He had management practices internally index internally.
The do need to be called into question none of us have seen walters' book yet.
As to whether He addresses these issues.
But this issue that we're over regulated sure we are in certain aspects David -- there's there's cumbersome.
Reports to be filled out the could be minimized and diminished.
But the fundamental principle of fair wages working conditions where we don't hire youth.
Employment which they do it Foxconn where they don't live in dormitories to assemble his side -- in -- -- -- Where they don't in fact put emissions -- -- -- -- -- out into the environment.
We you know we have an EPA because it's unhealthy not to have -- would we have child labor laws because it's unconscionable.
Not to have them.
We have a minimum wage and and were sent the results are clear to -- yeah I mean you look at the Hudson River it's a lot better -- to the air quality New -- -- -- -- however the point is.
Are we now is our economy being hurt as a result of the over regulation we've seen over the past couple years.
-- this the strongest assisting for the women and men listening to us tonight is that 90% of the cost differential between an iPad.
In an iPod.
That's made in the United States vs its equivalent in China has nothing to do with labor.
It has everything to do with Chinese subsidies that we know -- mostly illegal under WTO.
Which Steve completely but don't let -- I get what you're saying about apple I understand that but what I'm saying it's the general point that.
The the regulation system and structure that we now have.
Could be crippling the economy that is some of the reason why we're not growing as we should -- yet is because there's over regulation and that might lead to President Obama being a one -- president do you agree with any of that I don't think it's over regulation I think it's -- regulation -- I think the principles behind the regulation -- fundamentally sound David.
We haven't done a very good job and I and I do wish the administration had paid attention to this.
I don't think that they not -- You know I think that that to hold jobs issue was -- put on -- -- -- backer ever a more backward Bernard David and and then the health care and finance reform issues -- -- -- hearing read -- -- kinds book.
You come away clearly with that sense.
We -- we are not over regulated in the United States were very sensitive to -- and and and worker issues in a proper -- in my opinion environmental issues -- -- a lot of small business people we have -- -- you -- -- well what -- would disagree with which I do agree with -- I come from a larger business background it's too cumbersome it's -- inefficient -- -- we've got to run but -- just have to ask -- specifically President Obama.
One term president you agree or disagree I think we have to do with the Republican nominee is but it's going to be a tough race because they're gonna decide -- was -- Well then then they're gonna pick out who's the job who is really the jobs president that's the issue of the did you -- and we'll see I don't think we know the answer and -- I think Perry's and running behind Herman -- which shocks that academy Leo -- will always -- it's really you guys for coming on appreciate --
