Blue Collar Muse

Michael DelGiorno talked about this on his show a couple of days ago. It’s being reported at NewsMax, too. Somebody finally asked corporate CEOs what they think about the candidates.

The responses are telling.

Chief Executive magazine’s most recent polling of 751 CEOs shows that GOP presidential candidate John McCain is the preferred choice for CEOs. According to the poll, which is featured on the cover of Chief Executive’s most recent issue, by a four-to-one margin, CEOs support Senator John McCain over Senator Barack Obama. Moreover, 74 percent of the executives say they fear that an Obama presidency would be disastrous for the country.

3 out of 4 business leaders believe Obama would be a disaster. Some went so far as to predict he would bankrupt the country in just 3 years. From my perspective, these are stunning results and it is not possible to overemphasize them.

As expected, there has been the usual knee-jerk ignorance from the Left. A Portland, OR resident with internet access posted his opinion on Craig’s List (evidently he couldn’t afford even a free blog).

Have you not been watching the news, or reading any newspapers? With what the wealthy CEO’s have done to the American economy. I know that anything they want, I’m against. First they steal my money, then they want me to pay them again with my tax money? Oh, and go on a $400,000 vacation after they get it. I’m thinking I’ll vote for the other guy. I don’t care if he is black. The rich are rich enough. It’s time I got something other than a trickle.

The comments at this brief piece say it all. The prevailing wisdom seems to be if CEOs are for it, then it’s good for the little guy to be against it. After all, CEOs are all just money grubbing bastards who don’t care about anyone but themselves.

I must admit, even I was a bit surprised at the vehemence of the disparaging and the bitterness and cynicism expressed by these folks. Because it makes no sense. Should the people be concerned about the fact that many CEOs, including Big Government type Democrats like the execs at Freddie and Fannie, make millions while they don’t? Sure. Especially if the CEO isn’t the company’s founder and never risked a penny of his own money in the enterprise. But in the end, it’s sort of childish whining to pursue the “Corporate Execs are for it so I’ll be against it” test for determining one’s opinion apart from the occasional foray into humor.

Rationally, CEOs make such sums because they have the ability to wring sufficient profit out of the sweat and exploitation of their abused employees and successfully dupe enough consumers into buying their shoddy product. Except that would be disastrous for their personal fortune building, wouldn’t it?

Or, to continue to make big money over a long time, CEOs must do something different. Perhaps they hire and retain good people with good benefit packages and wages. Perhaps they manufacture good products or provide good services at affordable prices so consumers buy and keep buying. Perhaps some don’t behave like this. Perhaps these are those we see on TV with their businesses failing and under indictment. Perhaps the vastly larger pool of CEOs not in that situation are also not engaged in that behavior. Except that would be disastrous for the opinions of the whining class.

Objective reflection indicates the second scenario is more likely. Which means whiners need to pay attention. Those providing a steady paycheck for them for years are, indeed, concerned about them; specifically with their ability to continue doing so should Obama be elected. In their vengeful glee over evil CEOs will “getting what’s coming to them”, they forget if the company goes broke, more than the CEO will be out of a job and an income.

The point is CEOs are good at other things which we ignore at our peril. One of those is analyzing Market trends to stay ahead of or away from bad ones. Hate them all you like for being successful. But don’t be blind to the wisdom they also possess. Can they be wrong? Absolutely! But if they are saying these kinds of things, smart people will listen …

Blue Collar Muse

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This entry was posted on Wednesday, October 15th, 2008 at 5:00 am and is filed under 2008 election season, Business, Common Sense, Economics, Family, Geopolitics, McCain Palin 2008, Obama Biden 2008, Politics, The Economy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.