Tech Industry CEOs Back Obama's Rescue Package
Corporate America Sees Benefit of Massive Federal Spending to Help Turn Around Slumping Sales, Combat Huge Job Losses
Керівники технологічної індустрії підтримують план порятунку, внесений Обамою
President Barack Obama won a well-timed plug for his economic-rescue plan from the U.S. high-tech industry, a group he nurtured heavily during the campaign.
Mr. Obama's gathering with 13 chief executives at the White House Wednesday -- the first corporate sit-down of his presidency -- showed how much the two sides now need one another's support. Ten of the 13 executives run companies that would broadly be considered from the technology industry.
Barack Obama discussed his stimulus plan with CEOs at the White House Wednesday. JetBlue's David Barger, third from left, was among 13 invited.
Mr. Obama is lobbying heavily for his $819 billion package of government spending and tax cuts in the face of sharp criticism from congressional Republicans, and even some Democrats, that the plan is too costly. Corporate America, meanwhile, is desperate to turn around slumping sales with the help of a burst of spending from the federal government.
"I'd say that the message has to be that the situation is dire," said David Cote, chief executive of Honeywell Inc., who described the prevailing emotion as one of "incredible fear." Joining him were the heads of International Business Machines Inc., Xerox Corp., Motorola Inc., Corning Inc. and Eastman Kodak Co., among others.
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