Emerson CEO Says US Is Hurting Manufacturers. Bloomberg News (11/12, Daley) reports, “Emerson Electric Co. Chief Executive Officer David Farr said the U.S. government is hurting manufacturers with regulation and taxes and his company will continue to focus on growth overseas.” Emerson “will keep expanding in emerging markets, which represented 32 percent of revenue in 2009.” Companies will “create jobs in India and China, ‘places where people want the products and where the governments welcome you to actually do something,’ Farr said.” Emerson, which Farr said “employs about 125,000 people worldwide, has eliminated more than 20,000 jobs since the end of 2008 to lower expenses.” Farr added, “What do you think I am going to do? I’m not going to hire anybody in the United States. I’m moving. They are doing everything possible to destroy jobs.” Emerson’s growth strategy “includes some acquisitions and continued investment in technology.”

Tags: American Business

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