Warren Stephens, CEO of Stephens Inc., wrote an op-ed for the Wall Street Journal the other day about ways government could encourage corporate America to spend some of the cash it has amassed — more tax breaks, for example.
Ed sends along a thoughtful blogger’s detailed response. A taste of her response to Stephens’ call for more certainty about regulatory and tax issues facing business:
Ordinary folk, who know that “one never knows what tomorrow may bring,” may find it a bit strange that leaders of companies have different expectations — indeed, that they can’t even act, if the costs of doing business might change. Talk about scratching our collective heads!
For example, they are scratching their collective heads as they watch the National Labor Relations Board (NLRB) challenge whether Boeing violated labor laws by putting a plant in South Carolina to assemble its 787 Dreamliner. The concern is whether this an indication of future action the NLRB may take against middle market companies that have far fewer resources than Boeing to fight back.
I’m tempted to say they shouldn’t “watch.” On the other hand, firms relocating manufacturing plants in search of workers they can pay a little less has got to stop. Fighting agencies designed to preserve people’s jobs is a waste of effort and, when you come right down to it, unpatriotic. As is the habit of extorting concessions from distressed communities with promises of jobs and then pulling up stakes and moving somewhere else.
Worth a read.
