Sept 23, 2010
High unemployment may last for a long time because of the sluggish economy, bad politics and advances in technology, Jack Welch, author of “Straight from the Gut, “ told CNBC Thursday.
President Barack Obama’s administration has an “anti-business” bias which manifests itself through intimidation, trade, taxes and regulation, Welch also said.
“Our businesses across the board look like 1.5-2 percent gross domestic product (advance) businesses,” he said.
“The facts are in most businesses there’s 20 to 25 percent excess capacity that they can fill in without adding any new people,” Welch added.