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T.J. Rodgers, Cypress Semiconductor founder and CEO, on April’s jobs report and the Obama Administration’s handling of the job market.
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The White House today saying it's gonna continue with -- economic policies and insists are working Cypress Semiconductor CO TJ Rogers says it started as some -- something new here.
-- maybe try someone and it.
TJ.
Obviously something is happening year were being an erupted a year it's more than just a short wide phenomenon going on here what do you think -- -- Israel's simple.
When you practice socialists economic policies you suck money out of the private sector that for the productive sector.
You put it to work and shovel ready jobs the net value created by those jobs is less than.
In society at large and therefore there's less wealth and it trickles down to the worse trickle down.
Is a good thing when we're doing well trickled on is horrible.
When we're not doing all -- this is happening right now.
One more comment neo.
You don't be so quick to give credit if you look at job.
You know people who lost their jobs the numbers going like this -- that there was a tick down.
But if you look at -- six month -- goes like that somebody looks at the noises oh yeah went down.
Go look at the data has put an average through new -- installed.
At about 350000.
Jobs -- months for the last six.
You're right about does that and that alone should not be happening in a recovery at this stage regardless but I guess I'd like to -- what you do.
At cypress as a result of you always hear these stories in their legendary -- the debt.
Lol you guys sitting on cash you're worried about these regulations were a number of -- worried about the global environment word about the US spending environment.
And you're not are doing much are -- -- guarding.
It very carefully the money you have.
Is that true I mean if it did businesses -- great opportunity don't they just do their own thing regardless.
Yes and no -- were doing exactly what you said.
Although we have very little cats right now because they took all my Katzenbach Beckman shares because the markets so lousy -- shares are cheap and I had a chance -- him -- -- the market.
But but you see if I wanted to spend more money right now the way you move forward as you -- -- the people -- you -- increase -- -- -- And what you're doing then it's easier you're getting buildings putting people in it -- in taking -- -- to feed.
In in this uncertain environment it it just doesn't make sense we already have we you know we spend a lot of money in RD today and get a little bit more aggressive you gotta be sure about and I don't.
It just -- little micro story the you know this this subsidy they have four for a clean energy.
Well you know if you check in the solar industry was having the subsidy there are companies the United States and make a living installing Chinese solar cells.
In the federal government today is installing Chinese solar cells subsidize.
What's gonna happen when they put some cockamamie scheme in my industry in the industry of my customers and I got hundred -- -- people I gotta feed.
That's where you were both -- -- that -- intrusive this gets to the point where.
You'd be more inclined to hang on the Vidalia -- I have enough to get me through I kept enough money to get me through.
Two or three bad quarters.
And I kept necessary the other -- -- -- -- -- 200 headquarters and after that and one.
Well we're debt free OK but I have enough money to be debt free bus and see the other part about being mean is the -- you are -- -- you can last during hard times it's not.
Necessarily that I need to be mean right now we just bought back 600 million bucks worth of stock I could've spent that on jobs instead.
But what happens if I get the people in and my expenses go up and my ability to endure.
-- cycle it goes down.
Well put TJ thank you very much.
We welcome.
