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Acting happy hour every one.
He has one of America's greatest capitalists and entrepreneurs.
He -- county Home Depot and today he's turning his attention to philanthropy.
And politics he's also focusing as a student.
Business mind on.
Bernie Marcus co-founder of Home Depot joined us for happy hour to talk about all that as well as unions and today's tea parties mr.
Marcus thanks so much what.
Plus there was great to be here you know put -- let's see this conversation is taking place in the first they have the -- give me a drink.
-- that's very badly OK okay.
I think that says I am I now had to you know this whole argument about taxes I think they have a right to do it I'm glad that you see that people are getting out and saying you know -- you guys you clowns in Washington.
Who are passing all these bills with spending all this money -- was gonna have to pay for it.
And we're not gonna pay for we want to let you know there were unhappy and I think it's good I think it's great but I see more people doing.
-- -- Look and listen we we've we've been talking about this quite a bit now now that what I heard Chicago whose taxes he said well no -- not raise the taxes and I think that that's not.
Nonsense not yet right not carbon tax -- come I give me a break was gonna pay the billions and trillions of dollars that the talking about.
Eventually we'll have to be paid by somebody it's not a rebate paid by something it was somebody in congress could -- be paid by people who earn their living people making.
You know hourly wages are gonna pay for everybody's gonna -- -- you can only soak the rich so much.
That they could take everything I have but it's still not for the solve that problem.
And and you know we think about it the people who are going to be taxed people above 250 it's not just individuals or businesses small ball is associated -- the -- Love and then not to hire people I will tell you I I happen represents small business I love that I with a small businessman I've never forget where I came from.
I am telling you.
I've spoken to people around businesses and they all tell me the same thing.
They're gonna dig a little cut that this is in fact they're not gonna give up this salaries did not having they would continue to make what they make it just not gonna hire people I'm not gonna expand.
This is gonna cost American jobs and and that's what I'm concerned about some some -- the only -- the fact catch -- wrong.
It hit -- -- -- and then if you were a governor of the state because what we're seeing it right now so far at where you can tangent -- see it.
This city in the states that they have to balance their budget which is a great thing.
So instead in what if not to raise taxes they need to cut spending what would you cut well -- the revenues aren't coming in right.
But you can you can add some of the governors are not going to take the money.
The -- -- -- -- this Mississippi is not gonna take the money why because he knows it's it's all fake money.
I think balance -- they have and what you have to do is go back to square 100 and you have to make sure that.
You're spending it properly wherever you are consulate tax revenues come back that's when you're running a business of business is bad.
What utility cut back you don't keep spending.
You have just -- they'll keep -- surprises boy well but -- you raise your prices and you're out of business you can't do that no and in an estate.
New York for it's it's gonna raise the tax -- -- what 10%.
They're going to be lots of people lead in this day there will be a lot of people leaving the state.
And all the guys that -- -- lot of money.
I didn't leave the state and having come I don't know how to gonna catch up with the I don't know how to really the big issue one when once it's a small percentage of the hype.
Who account for so much the -- of you if you drive them out to whether it's another state or another country.
You're gonna lose jobs lose -- -- -- -- -- -- have the text -- -- I want to jump.
Job over this a little -- unions.
You know work co-founder of Home Depot cried out and -- somehow managed to keep the union shop.
You keep it to keep your -- -- -- hobby to do that nobody -- did not give -- people ever wanted the union every member union as the choice of the employees.
It employees unhappy stiffen employee feels that they've been treated badly they should have the union remember -- -- -- it's a great.
There were -- of my father was a union man.
You know it end and and the truth is if he had been a huge demand he would have gotten what he got.
But there are companies like The Home Depot that treatment of people grade I mean and they give people an opportunity look we have guys who who were -- Loading cars in the the the parking lot.
Who would today vice president's Home Depot you can do that when you have you know because you -- by seniority.
And so that the growth.
The growth -- beat people being able to come up the latter.
And and then grow you told me a friend this is regional manager for -- humvee but it is thought that way he saw the different jobs.
He was doubting yourself -- -- assistant manager was -- -- a regional manager that can happen.
Now these people.
Have a choice and what I'm what I'm objecting to is taking away the secret ballot.
That's un American it's undemocratic get back to the Democratic Party.
-- taken away a secret ballot happened to do that in America or any free country today that's number one and number -- is mandatory arbitration.
Fit fit both killers they have both killers and it's gonna cost jobs America.
I'm not running a company I'm not doing this from my own benefit -- -- because it's wrong I think it's wrong and I think that I think that I'm I'm I'm a shame.
Of the republic of the Democrats who is supporting -- -- just the -- to them.
That's -- governance governance that would -- the -- was what the most liberal guys in the world -- -- -- of his party.
Not a lot of we've been covering that here -- happy are a lot of controversy about that employee free choice act you know what we always focusing on the market was seeing some signs.
Of recovery out there but obviously we're still in a recession.
If people at those that attack have those tea parties you know -- -- they're protesting big.
Government spending and taxes but also some of them out there protesting all the bank -- do you agree with the bush and Obama administrations to bail out banks.
No I I I think that they have to bail banks out I have to I think they had the support to banks.
-- I mean I don't agree on that all of bailouts I think that General Motors and Chrysler should not have been bailed out.
I think they should be allowed to go live to a -- proper kind of ready a bankruptcy.
Guaranteed by the government we need to be in the car business we need to be making autos in the United States I think it was a way to do it intelligently.
And and but on top -- it was stated that bush is the one that gave the first amount of money so he's wrong and I -- abominable and enjoyed it.
And then hopefully he's going to be Smart enough to say enough is enough you guys see this -- -- -- on to a bankruptcy.
All right well we will want to just keep you guys up to date there what you're seeing there on the deciding your screen live pictures of the Boston -- -- years there about the -- feet into the Boston Harbor and now we're gonna keep those pictures up for you there but just to let you know what's going on on the other side of the screen there.
Where are we headed I mean are you optimistic that that this ship is writing itself even in the it in light of what's going our people protesting higher taxes higher spending.
-- the economy get back on its feet.
-- -- -- -- -- -- -- But we live in a great country we really live -- the great country and don't ever forget that the American people.
Have really brought -- I'm talking about not a politician in Washington for the American people have shown tremendous amount of strength.
It's very difficult.
Obama came in bush left them a mess there's no question about it how Bobbitt came -- I think congress is responsible for what happened.
I think that Fannie Mae and Freddie Mac and I think the greed on Wall Street which I think it was there there's no question about it.
Lots of people deserve the blame this.
How we get out of his I really don't know a lot to do one thing about frightened about I'm frightened about congress acting too fast.
I'm frightened about a group of people getting together and all of a sudden.
Spent trillions of dollars without reading the documents without reading the bills when you see congressmen get up and tell you that they signed off on a bill.
That they haven't read.
That's frightening event.
-- in this -- visit there was some news today Fiat came out and said look you know the Obama administration basically said here you make sure -- that bit.
You have this merger Chrysler if you want more money -- -- you merge with Fiat Fiat said.
By the way.
Then you're gonna have to -- negotiate -- UAW contract that is what is this what's going on.
Here well you know if -- if they don't if they don't negotiate the UAW contract if they don't.
They're not gonna happen agreement had had ended and they'll go to bankruptcy and they go to bankruptcy.
The courts will decide what what the contract's going to be the courts will decide which contracts of ballot which they which don't.
Listen if they wanna be viable if they wanna produce cars in the United States they're gonna have to be a company that could make money you can't make money.
You can't be in the business -- say look -- this.
-- just -- -- it's but some people this is not simple okay.
They think it's it's supposed to be there to hire people -- to keep people their jobs that's not the case.
General Motors and Chrysler was screwed up.
By people that came before them the management over the years.
That gave him over the years.
That should have settlers union members that got the best lists they got the best they could that because he couldn't say no -- wanna say no.
Wouldn't take a strike and they have for now all of these retirees is sitting.
Waiting to see what happens.
And I feel for them.
market before he ran at a time I'd be remiss if I ask you about the housing market because it -- -- home Depot's really riding on -- success that the housing market too weak -- do you think these initiatives.
The administration is doing to get the housing market to recover -- low interest rates good bad.
Your guess that was fine.
I can't -- is I can't predict that will have a clue.
I really don't have a -- like everybody else.
I hope it's going to turn around eventually.
It will turn around eventually I don't see yet before we run -- truly feel we have that CNN technology give us what what you already athletic what they're opening their opening on the 24 of April a day in and out of tech laboratory that we help.
Our foundation help the fun.
And it's the wave of the future.
This is going to create jobs in America.
That's that's the important thing.
-- technologies a technology that's brand new and Georgia Tech one of the great universities -- -- it in the united states of fact.
Georgia Tech has more graduate engineering students and any other engineering school in the United States and we need -- you hear about all the time.
And these guys on the -- now technology that's going to be the future of American lives and future.
Of the world everything that you see here all these instruments that -- run off of technology.
Now technology is gonna make it faster easier better and cheaper.
The description that I love that you gave him one of your interviews that I read you said it's almost -- -- -- you can imagine that you take your car.
To a cart station -- they plug it in now to this monitor and they hit it determines what's wrong in the engine still build basically like.
Put something you know they -- to read our temperature.
But that will read what's wrong in our body.
Not an annual technology.
Yes in the body in the body that's exactly where they're going I mean that's in the future.
This old body won't be here I'm sure -- but you're young bodies will be there but in the future.
They will be able to diagnose and treat diseases -- -- be able to go right to that organized disease in other words get consumer they'll have medicines and we'll go right to that area.
And the Georgia Tech is working with -- every university in fact.
Together a medical school as well as they had engineering school.
Trying to solve that problem Bernie Marcus and come back and update us on on some new developments -- still waited my -- back reminds us.
I went after the show out.
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