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So preparations are holding record levels of cash and we'll continue to do step GE CEO Jeff Immelt recently set.
Fox Business class but I guess fairness here to break down why why -- just a little updated just just to put a fine point on -- I.
-- the that would have senior federal law enforcement official last couple days pushes me.
Yes last night and it spoke -- early this morning.
And I'll say this they still don't know a lot about this.
And -- -- in terms of having a -- that the clear suspect.
As of I would say about five or six hours ago that's you know it -- change and things move fast.
There wasn't one so and we say this would mean the Boston bombings so that this is a pretty -- -- -- and sort of scary thing it's it's pretty elusive as of as of hours ago so -- just wanna get that out there.
How might think there was one report that they they thought they had a suspect the only thing they questioned one person great person -- interest -- -- that's advocates.
And this is this is really.
It's scary situation but anyway getting back to.
What scares corporate America -- terrorism obviously does and it was interest in about a month ago Jeff Immelt was giving a it was that I guess was described as a fireside chat you know.
It was at -- news that it was good it was a conference here in the city put on by the Wharton university Pennsylvania -- business school.
He was -- a question about the things that scares the CEOs today.
And basically said the list of terrorism as the reason as as that as one of the major things that scare CEOs.
And I that has scared of him to keep -- so much cash if you look.
At corporate balance sheets replete with cash and they say why is that while he said listen.
Modern CEOs are now dealing with different things we have to be more quote unquote liquid meaning we have -- -- all.
And nimble nimble and liquid cash cash on hand he would when he said what why is that well only two things that he mentioned.
Was one was the financial crisis obviously but he also mentioned terrorism -- being one of the reasons why corporations need to be -- why is that.
Because terrorism is shocks to the system.
We could get him if he could have been a huge impact on the economy.
So far but you know this this one this well I mean this was not what happened in Boston this tragic it is it is.
Was not on the magnitude of 9/11 where where you know I think it.
The base of the stock markets didn't work for a week and that was a huge -- -- huge sort of attack on our economy.
This is a little different.
But because this can keep going -- we should point out that Ray Kelly the New York's city police commissioner has thwarted something like sixteen or eighteen.
Attempts this one was not thwarted but because of this continued to -- corporations.
Are acting differently since 9/11 and even acting differently.
Don't even more different now I mean I I think something like this becomes a flash point as to how they react.
Keep more cash on and be more nimble.
You spend on security.
And it just changes the dynamic of our economy a lot and will this you know have a huge impact on the economy you know the -- -- -- back today.
It was limited but you know -- tea.
What's wait to see what happens when they come out with the final word what exactly went down here.
You know right now it's sort of up in the air -- you know -- it's obviously terrorism of some kind you know.
He's was orchestrated how orchestrated.
How you know was that a terrorist cell here in the US over the was it was a top Qaeda related was it was it was -- you know just some.
Some neo Nazis here in the US we don't know the -- the pulled the dynamics when that when we do know the full dynamics.
Corporation the US will react -- -- now they are now taken what I would say.
Is a wait and see attitude waiting for the final word but it -- I think Immelt is a Smart guy -- no we I have some issues within -- I -- -- you know.
Played a little too much footsie with the president and when it came to the economy.
And you know that said he's a Smart guy and he -- he has his hand on on the pulse of corporate America he knows he's talking about with this.
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