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Former Office Depot CEO Steve Odland on the business community’s frustration with the White House’s economic policies.
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So was -- big gamble full wind disabled he said former office Depot's just about -- -- it would have been an even bigger gamble if he did not.
Well how was my reacts when I heard this Steve because this is sort of you know taken on a YouTube sensation life of its own.
Justifiably so.
Well I think Steve -- is right I he has been a job creator he's done a terrific job and he's done so without the government and I think a lot of people.
Lot of small businesses and created jobs and in really.
Gambled with their own money if you well in order to create jobs and they've done so without the government.
And yet you've got the government going out they're continuously in saying we're going to create more government jobs and you know they have business people are are bad people fat cats we need to tax them more and so forth and I don't think this is a constructive relationship and I think you see that.
When -- guy like Steve -- Finally -- had enough and drops in what what makes this particularly.
Interest thing is that the Steve -- is a Democrat in the voted for Barack Obama and has had close ties -- so.
I think that you see this as an equal opportunity not a Republican issue not a Democrat issue but a frustration in the business community.
I think you just at the nail on the head as you often -- stated that that it is.
A frustration on the part of business community we seen that coming out of -- lights in the brokerage firms that -- -- fourth satisfied the wandered giving some Mitt Romney.
Rather than the guy they were drawn to four years ago Barack Obama.
We're seeing it even -- dissolution high tech executives.
Intel's CEO among them saying the policies here.
Don't help us.
So this seems -- -- on a wildfire but what I think may mr.
Wynn's comments so noteworthy.
Is he wasn't afraid to go -- and and be so publicly blunt about it do you expect others will follow.
Well I think it's difficult for others to do -- out but I think you know privately here a lot of thought consternation over the remember this morning in afternoon will present why -- it and dividends and it probably follow because they don't wanna risk Iran from humans.
Yeah I think you know business people are not politicians -- like to do things behind the scenes and we like to try to influence government policy in a polite way.
But you know you hear this constant demagoguing of the 1%.
We keep forgetting that 75%.
Of that 1% of the top taxpayers are really small businesses.
That are being categorized.
As individuals those people -- job creators and so we've got this fiscal cliff coming.
We've got taxes being raised -- we've got threats of more taxes on top of that and that is not driving confidence and it is not driving job creation.
And this is the issue in the frustration in the business community.
You taxes they regulation.
Trade all these policies right now are not going in the favor of job creation.
What do you think is as.
Has turned that at least there's the bluntness tied here because that in the Bob Woodward book.
He quotes another era a number of executives on the record off the record.
Many of whom were called -- these private Washington -- -- that the president and left disillusioned or at least disheartened.
And it's as if it's reaching a crescendo of the part of corporate America.
But not all corporate America but an increasing slice of it saying enough is enough when you make -- -- Well I think again you know most business people.
Are that you do what they do on their private life there are some of more Democrats among Republicans but when it comes to policy they try.
To abdicate pro growth policy.
They turn of trying to run their businesses in a very competitive environment globally and I think what we hear.
Is a continuation or or a promise of a continuation of more on the same policies which has made American businesses.
It put put them in the back -- we have the highest tax rates in the world and I know there are loopholes but those were created by congress so.
You know we are in a situation where we're not competitive and where were not able to bring back.
Our earnings from overseas in where we have a situation.
Where we're not creating jobs were putting the money on our balance sheets rather than investing at the American economy that's unheard -- We need a change in that policy from one administration or another but this needs to change.
CD some -- change in the last week maybe -- Mitt Romney's debate performance.
Or the -- -- -- for the president.
That it's kind of embolden the president's critics.
And may be.
-- or more jazz.
-- the challenger's supporters.
To speak out and end to seize on what they think is an opportunity.
To make the president a one term.
Well I don't know if it's -- or not I I think you know you've got a lot of supporters of the president and in Steve Wynn was one of them who went in and said look.
We need to tackle these deficits and you know this president promised -- you know demagogued against the 400 billion dollar deficit now we have over trillion dollar deficits he it was very.
Very negative on -- four billion dollars in debt that was put on over the previous eight years and now we put on another six trillion in three and a half years I mean -- so is it we haven't seen the policies that Wear a promised and I think.
The issue is we want to make sure as a business community that whoever is in the White House that these promises are Matt in that we have other.
Environment that is once again.
Friendly to American job creation.
Artsy thank you very very much Steve --
