It's not every day that I read a memo posted on our company's intranet from the CEO and then see that same memo appear at Power Line, but today that's exactly what happened. The memo is based on an op-ed penned by David Farr and Scott Johnson has posted it in its entirety.
Major manufacturers today must compete in global markets if they want to survive, prosper, and grow. Emerson is no exception. We compete head-to-head with Asian and European companies here at home and in virtually every market of the world. The ability to manage quality, innovation, logistics, customer support, manufacturing cost and many other factors determines which companies survive or don't.
Emerson has expanded globally to diversify and ensure that we can continue to win against intense global competition. We are well positioned to grow profitably in the USA and in international markets, like China and India.
At a recent Chicago investment conference, I stated in strong terms that excessive federal spending and costly legislation are destroying the ability of U.S. manufacturers to compete globally, and to successfully invest in the U.S. Yes, Emerson is a St. Louis headquartered company with 30,000 U.S. jobs, but we must compete around the world.
I spoke in very strong terms to underscore the issues I believe our nation is facing. I understand that some don't share my concerns. However, I believe our great country is threatened as the global economic leader if we don't change our government's course. The issues we face are not Democratic or Republican issues, or just business issues. They are real and impact every American, today and in the future.
Farr then lays how the burgeoning Federal debt, pending health care legislation, and US tax policy are hurting American manufacturers and their ability to compete. If President Obama is truly concerned about "creating" and "saving" jobs for Americans he would do well to listen to people like Farr who run the companies that truly drive economic growth. Companies that want to invest in grow in the US, but won't hesitate to go elsewhere if that's what they need to do to survive.