October 20, 2005

FedEx chief says European over-regulation is bad for business!

by @ 1:10 pm. Filed under Unions Destroying America

He can give a warning, but will anyone listen? The FedEx chief is right!

FedEx chief attacks European red tape

Rigid labour markets and excessive red tape are deterring US investment in Europe and pose a “huge danger” to the continent’s economy, Fred Smith, chief executive of FedEx, has warned.

Restrictive regulations and heavy social obligations on employers make US companies, including FedEx, cautious about expanding across the Atlantic.

While it is uncommon for such views to be voiced publicly, they are shared by many US chief executives who increasingly favour higher-growth opportunities in Asia and the US.

Large US multinationals also regularly complain of the difficulties of operating in multiple jurisdictions and the restrictions that labour laws place on their ability to restructure existing operations.

And there we hear it again. When will people learn that the rich executive really can help if his warnings are taken seriously? Industries like the American automotive industry may have made mistakes, but let’s be honest here. Many of those mistakes to not adjust with times were made because of Unions keeping the hands of executives tied! And even after realizing a mistake was made, even if not the fault of Unions, it is the Unions that prevent any adjustments from being made. It is the same in Europe with too much regulation of companies.

How much longer will people complain about China, India and other countries before they realize that many jobs are being given to other areas because in many cases we have over bound the hands of corporate executives? I think it may be a long time for some! A company needs to be able to make changes as needed to be competitive! Otherwise the leading companies in the world will no longer be American! Then where will Liberals get funding for their social programs, with no rich executives to tax?

Neil Cavuto said it best in his piece “Eat the Rich?”.

Company executives need to be able to adjust with times. Rich people should not be hated, but if others would listen to them they might learn how to gain more themselves! So call it rich companies, rich people or whatever. Stop hating and binding those who achieve! The more they expand a business, the more potential for future jobs, money and benefits. But stifle them and everybody loses! A poor man hires no one!

Hat tip to Drudge for the find!

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