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Ethan Allen CEO Farooq Kathwari on the impact of the fiscal cliff deal on corporate planning and hiring.
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Related to -- -- let's get back to for a cup worry and a Fox Business exclusive Ethan Allen chairman and CEO it's another to deal and it and I and I just fruit people really want to know what you.
The business leaders who do the hiring process.
Is -- -- enough for you will then open not necessarily the floodgates but at least some of your pocketbook and say I'm ready to bring on more employees because at least they have some clarity on taxes.
Letters -- the compromise is the shops total fixed to the many challenges faced.
By the US economy I think if this was not done.
We have continued -- of flooding erosion of consumer and business confidence.
And that -- very negative growth hiring up people investing and our businesses.
Now -- We in turn result.
More weeks fall would to intend -- in creating a capital budget and hiring.
From a current plan I think -- most businesses and certainly.
We even have to we relate to -- the resolution of the next phrase.
In the next few months.
Did you look at the next phase Farouk as the -- cuts in spending or hitting the debt ceiling and those negotiations we've seen that in the past -- the markets some stocks like around.
We have have absolutely I didn't have to.
We have -- We have to you know I think that there's that the full oil I I do understand that.
While edition has -- could be some tax increases as have taken place.
And in the in the end we need to.
And then we also need to make sure of that due to cut back on spending.
My men -- -- -- managing the costs associated with entitlements.
-- let me jump in and ask you about the expiration of the payroll tax cut.
How -- affecting Ethan Allen mean people get their their check and they have less and that they might think twice about buying.
And autumn and or or a chair or a dining room table now.
I don't think so I think that you know people understand.
That to -- taxes.
-- to be -- used.
I and I think that it might have some impact but I don't think it's gonna major impact what we need to do is we need to have to all come all of these.
-- the next stage.
That they're working on -- you know.
The resolution of the next phase.
True that Bill Bennett and -- -- -- and I think consumer confidence is important.
I think we -- businesses can can create -- more taxes -- we have to.
I think consumers -- nobody likes to pay taxes they will but more important is we need to have some stability some stability coming from Washington.
Farouk a flurry hopefully they're listening thank you for joining us district -- Ethan Allen chairman CEO and president the stock up 7% over the past year and they do pay that dividend of one point 4%.
