Davos Advice to the President

A great video I just watched from Davos is embeded below. It has some of the worlds most powerful leaders discussing the advice they would provide to the US President on Competitiveness. The leaders in this conference include:

• Ellen J. Kullman, Chief Executive Officer, DuPont, USA
• Rupert Murdoch, Chairman and Chief Executive Officer, News Corporation, USA; Co-Chair of the World Economic Forum Annual Meeting 2009
• Duncan Niederauer, Chief Executive Officer, NYSE Euronext, USA
• David M. Rubenstein, Co-Founder and Managing Director, Carlyle Group, USA
• Ronald A. Williams, Chairman and Chief Executive Officer, Aetna, USA
• Moderated by Michael E. Porter, Bishop William Lawrence University Professor, Harvard Business School, USA

Some great points come out of their discussion regarding the state of the United States economy including – in brief summary – the following points:

• The panelists comment on the need to create new innovation in energy. Interestingly, they point out the correlation between high fuel costs and the spur for new innovation during the periods of increasing world oil prices but then as oil prices fall – this “urgency” for new innovation in energy subsides as oil falls. This time around, everyone on the panel indicated that lower fuel prices must not mean that innovation stops – all agreed that this time around it must continue.
• Increase the level of education at a junior level – a smarter population means that innovative solutions can be presented to problems that seem unsolvable. 
• Increase the level of consumer confidence by ensuring that the level of communication between the Presidential Office and the people in America and around the rest of the world is consistently transparent.
• Don’t rush solutions in the first 100 days but rather use the 1440 days remaining in office to fix so many of the issues – time is of the essence but it’s important to note that time is available.
• Tax gasoline usage in order to reduce the amount of corporate taxation in the United States so businesses remain in the US and don’t move offshore.

There are a lot of other point worth watching in the video so check it out below and get the rest of your people in the office and/or work place to listen.