Friday, November 20, 2009

Emerson CEO Speaks Out On The Economy

As a believer in free markets, I've been curious why Fortune 500 CEOs have largely been silent about some of the destructive economic policies currently being pursued. Finally, a CEO speaks out. Even better, he's an HVAC and plumbing CEO.

As reported in Supply House Times, Emerson Electric's CEO, David Farr, made some blunt statements at the Baird Industrial Outlook conference about the impact of cap & trade, socialized medicine, and anti-business labor laws...

  • Companies are creating jobs in China and India because they are "places where people want the products and where the governments welcome you to actually do something."

  • "My job is to grow that top line, grow my earnings, grow my cash flow and grow my returns to the shareholders. My job is not to shrink and roll over for the U.S. government."

  • "I’m not going to hire anybody in the United States. I’m moving."

This type of candor from the Fortune 500 is good news. I'm sure it's being said in private, but not so much in public. By speaking out, Farr is helping to highlight the consequences of foolish policies while there's an opportunity to prevent them.

Kudos to David Farr! We need more business leaders with Farr's gumption.

Read the article in Supply House Times.


  1. Surely Emerson could find a CEO from China that could grow the company for less than $12M/year in compensation.

    1. Thanks for putting your thoughts down in writing over here. I totally agree with your statement. HVAC Direct Mail and HVAC Marketing Strategies