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Turnabout cyber attacks is something we've been talking a lot about -- that concern seems to only be getting stronger if you.
What's what's been happening in Washington DC here of the last few days -- last week during our series or cyber security series.
I Dennis -- I was just here few minutes ago he spoke with a general Michael Hayden former head of the CIA and the NSA.
On just how serious this threat is becoming to businesses watch this.
Hi this problem now my grade in American industry from the CIO and the CTO.
Up to the top deck this is now a serious problem for CEOs and C -- -- OK then President Obama.
Meeting with a group -- CEOs including this man yesterday pushing cyber security legislation.
Our next guest is the Siemens Chief Executive Officer Eric Spiegel it's good to talk to search also little bit -- -- -- about that meeting and how things one.
Well I think it was that very informative meeting mostly just sharing of what business was seeing out there and what business was doing to.
To improve their cyber security and the the administration.
Their plans what they were thinking about doing -- what they were seeing out there.
And I think overall it was that was a good meeting I think very encouraging and acting business and government.
I realize and agree that we need to continue to work together to solve some of these issues.
-- -- pick up but not a little bit and see what that cooperation might look like because there have been some people saying that.
The government has to be careful here as it does and other issues not to push too far.
And you know we talk to people in government are people who used to be a government they say.
The business leaders people like you need to realize how serious this threat is and be willing -- even work with government more than they already have so where do you see that line between.
-- government cooperation.
And the government over involvement being.
Well -- I don't get the sense that CEOs don't understand how serious this issue is I mean I think there was.
There was broad agreement.
-- all the CEOs they're that this is a very serious issue and and CEOs and their companies are taking action so I didn't see we'll cut any misalignment there between what the administration -- saying what.
CEOs are saying so where's the line where's the line of in terms of how got far government should go in terms of regulation and requirements on business.
Well I think we'll have to wait and see I mean the president has a new executive order.
We didn't get into much detail on that there was agreement that we need to have there's going to be some legislation.
But it needs to allow businesses flexibility to do -- -- -- Successful and cannot do anything to drive up costs -- with a very general outline of what we're doing so.
It was so kind of first discussion around that for me I would.
Ask -- about one other thing were flashing some.
Highlights -- your company and what you've been on the doing of late in the history of it on the screen as you've been speaking so.
This is a very important issue cyber security thus we've been talking lot about it but I want I asked about what -- working on today in terms of because another big issue for us that's been.
Coming back to the United States so that so tell us where we are now because for years obviously the opposite of the idea that the concern.
Well I think there's a big opportunity for the US to to increase manufacturing and and maybe potentially have a manufacturing Renaissance we've invested about 25 billion dollars.
Over the last when he ten or twelve years here in the US.
Created thousands of jobs in the last few years built many knew a large manufacturing.
Plants have upgraded expanded many plants so.
We think this is a great place to manufacture now yeah labor rates are going up in China.
-- transportation costs because of energy more expensive.
This is still the biggest market in the world.
So great opportunity to do business here but also to export in fact this plant read here today yeah about 40% of what we make here gets exported overseas.
Okay we'll have you back on we've been talking about this with you the water back on talk about that some -- should look at the Siemens.
Stock price today -- C Spiegel CEO at -- -- thank you sir.