“The Secretary of State wants American companies to focus their efforts – and their cash piles – on spurring job growth by investing at home and abroad.
By Tory Newmyer, writer
FORTUNE — Secretary of State Hillary Clinton on Tuesday issued a challenge to American business: Stop hoarding your cash, and start investing both at home and abroad to spur domestic job growth.
“We can’t help you if you’re not hungry enough to get out there and compete for the business that is going to be available,” Clinton told a lunchtime crowd gathered at the State Department for a first-of-its-kind global business conference. Noting that American companies are sitting on “large cash reserves,” Clinton called on them to “take informed risks that have always been the key to success.”
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“How come they’re not here competing for this construction contract or that mining deal? What are they waiting for?”
They are waiting to find out what their tax rate for the foreseeable future will be that you guys keep threatening to change, and whether or not a 1000+ page regulatory bill will land on their doorstep that says “we didn’t read it, but you have to.”