Dallas Leaders Tell What They'd Do First If They Were Obama
By CHERYL HALL / The Dallas Morning News
In 16 days, Barack Hussein Obama will officially go to work as our 44th president. The challenges are monumental. But so is the opportunity for greatness.
I've been politically aware during nine previous administrations, and I can't remember a time when we Americans were so ready and willing to be led – not even during the traumatic times of Vietnam.
But given such an abundance of critical issues, which one should he tackle first?
I asked local business and nonprofit people what their first priority would be if they were Obama and why.
Most echoed retired Zale Corp. chief executive Donald Zale's recycled quote: "It's the economy, stupid!" Among those stressing the financial situation as Job 1, there was an array of approaches.
Many thought repairing America's damaged psyche and international reputation was just as important as any legislation or regulation that might be introduced.
Mind-set matters.
Here's what they put as their first orders of business.
Angel Reyes
Partner, Heygood, Orr, Reyes, Pearson & Bartolomei LLP
I'd use laser-like focus, surround myself with the best economic minds at home and perhaps even abroad, and get the U.S. economy going again. That is the most critical and the quickest way to build credibility and momentum for leadership.
Steve Ivy
Co-owner, Heritage Auction Galleries
The economy is like an accident victim with multiple life- threatening injuries which need to be treated in unison. The patient seems to be being stabilized. Now the following actions need to be addressed. Eliminate or modify mark-to-market rules on hard-to-price assets. Provide incentives to banks to make to loans to businesses through some type of guarantee program. Provide mortgage relief to people that have a decent chance of staying current with their payments after the adjustment. Let GM, Ford and Chrysler enter into a quasi-bankruptcy with certain government guarantees, but with little or no government ownership or oversight and the corresponding politicization that normally goes with government involvement. Use as much stimulus spending for infrastructure as possible as long as the return on investment is high. I would make sure the government uses its money to make the country more efficient, which will lead to higher tax revenues even at lower tax rates.
Leslie Ann Crozier
Co-founder, Crozier & Henderson Productions Inc.
I'd work to continue to keep the nation safe. The economy may seem more important and more personal, but 9/11 should be a constant reminder that prosperity is moot if we are dead.
Barney Adams
Founder, Adams Golf Inc.
I'd change the accounting rules, tax rate – everything I could – to encourage the growth of small business in particular and business in general and put consumers to work. Concurrently, the government will have to help the public get credit with some form of guarantees to lenders. I'd announce that in two years, I'd have a balanced-budget amendment passed and that a panel of industry and political experts had been convened to cut real government spending. I'd raise the retirement age on Social Security and Medicare so it becomes actuarially correct.
Abid Abedi
Founder and Chairman, Adea Inc.
If I were President- elect Barack Obama, and thank God I am not, the first thing I would tackle is the American psyche by articulating and communicating how the stimulus package, that will hopefully will pass both houses, will help reset the American economy.
Charles Terrell
Insurance Executive and Former Chairman of the Texas Criminal Justice System
I'd have to deal with the worst economy in most of our lifetimes without putting our children and grandchildren in a bottomless pit of debt and left without any sort of Social Security system. This is the top priority unless the Israel/Hamas conflict escalates into a regional war or Israel decides it can no longer be at risk with Iran, which is nearing nuclear bomb ability with its leader saying: "We're going to take out Israel." So how long does Israel wait before they make a pre-emptive nuclear strike against Iran? If either of these happens, the next president's diplomatic skills will be tested in how he deals with the rest of the world.
Craig Hall
Real Estate Developer, Hall Financial Group
Multi- tasking has to be the cornerstone of a successful early presidency. I'd give the following equal priority: Fulfill promises to get out of Iraq. Set a course to stimulate the economy and hopefully avoid a depression. Provide a new plan for some form of universal health care. Provide a new plan and focus on our environment. Improve relations with other countries around the world.
Jerry White
Director of Southern Methodist University's Caruth Institute for Owner-Managed Business
There is no shortage of projects to tackle: the financial infra- structure, unemployment, the auto industry, deflation/inflation, availability of credit, etc. But the most important thing to do is inspire confidence that we can pull together and solve these problems – create a can-do vision in the midst of massive negative news.
Todd Wagner
Billionaire Philanthropist and Entrepreneur
The economy, the economy and then the economy. Everything flows from that. You get folks back on their feet, and all sorts of interesting things can happen again. Until then, it will remain the big elephant in the room and will impact behaviors at all economic levels.
Stan Richards
Principal and Creative Director, Richards Group
The new president's first order of business should be to find a responsible way to bring the economy out of what appears to be a death spiral. If he can't do that, nothing much else matters.
Chuck Goodman
President, Goodies From Goodman
I'd establish my leadership to restore confidence in our country and to get the American people on the same page. We need to feel like we're in good hands. We need to feel positive as a nation again. I'd surround myselfwith coaches who can create and implement a sound game plan. The nation is the team, and as we go out on that playing field, we have to believe that we can win the game.
Lucy Billingsley
Real Estate Developer, Billingsley Co.
I'd do what he's already doing: Attract great leaders to his Cabinet and inspire us to become the nation that we know we are and must be. The entire world needs to have the ideals of the American way of life to aspire to. I'd continue to instill confidence that we can be those people, as demonstrated through our management of the financial crises and our management of the new world of international relations.
Jan Collmer
Retired High-tech Executive, Past Chairman at D/FW International Airport
The economy is Job 1 unless there is a terrorist act. If I could wave a magic wand, I would ask the media to focus on a few positive stories for a change. My guess is that the exit of GWB will bring a flood of good newsas Obama swings into action since he was the heavy choice of most of the mainstream media. That will help a lot. There is no single act that will dramatically change our economic course other than an increase in consumer confidence that a bit of optimistic news could stimulate. Thrift on a wide scale is a disaster for this economy, and low confidence causes folks to severely control their spending. One good news item today is that 92 percent-plus are employed. The government- funded (federal, state, local) workforce already in place will provide a minimum level of support, as it has in earlier downturns.
Regardless of how we got there, we need to support our domestic auto industry as most other countries are doing. Forced to the wall for just one item, I would suggest presidential and congressional support for an intensive program to develop domestic sources of energy, primarily oil, gas, coal and nuclear. We need to dramatically reduce our dependence on foreign sources but not eliminate them. I think energy development efforts would serve our economic interests far better than building roads and bridges, however important that is too. We need to improve incentives for better construction methods (green) for low-energy buildings and homes and improved insulation in all existing structures.
Jerry Clements
Chair, Locke Lord Bissell & Liddell LLP
I'd focus on restoring the faith of the American people that the agencies of the federal government can and will perform as they were intended.
Paige Flink
Executive Director, The Family Place
I would send the government budget to economics students at Stanford, Princeton and Harvard for a line-by-line review. I would instruct them to identify programs that aren't performing, line items that are questionable and ways government spending can be cut so investment can be made in safety programs that help the most vulnerable in our country.
Diana Anderson
Chief Executive, D. Anderson & Co.
I would make use of my political clout, a compliant Congress and a huge stimulus package at my disposal. I would address health care first and foremost as the worsening economy is pushing more people into a fragile, uninsured position. The thought of being unable to provide adequate health care for one's family or self is a horrific state of affairs and one that should be rectified as soon as President-elect Obama takes his oath ofoffice.
Antonio Matarranz
Chief Executive, Avangard Group Servicios Inmobiliarios
I would repair the three main elements of the country's foundation, because it is not all about money.
1. The growth of the United States of America started with immigrants – at that time from Europe. I would create immediate legislation to develop and apply immigration solutions with respect, regardless of origin, because sooner or later we all need each other.
2. I would stabilize the middle class because it strengthens the economy.
3. I would create zero-tolerance laws to fight corruption because it is the main rot of the monetary system.
Bill Bayne
Owner, Fish City Grill and Half Shells Restaurants
I'd assure businesses and Wall Street that my admini- stration and Congress are capable of developing an attitude and policies (including no tax increases) that encourage capital investment and promote business ownership instead of punishing people for taking risks and creating opportunities for others. This would calm fears on Wall Street and would encourage the credit markets and the Small Business Administration to intelligently lend to businesses again.
Angel Reyes
Partner, Heygood, Orr, Reyes, Pearson & Bartolomei LLP
I'd use laser-like focus, surround myself with the best economic minds at home and perhaps even abroad, and get the U.S. economy going again. That is the most critical and the quickest way to build credibility and momentum for leadership.
Peter Beck
Managing Director, Beck
We have repeatedly proven the ineffective- ness of tax rebates as a stimulus in restoring the economy. Large capital projects are far more effective and efficient but often require six months to a year before their effects are felt. I'd implement quickly and effectively measures that would properly balance the need for both a powerful fiscal stimulus and an immediate impact on the economy while not creating similar economic excessesfrom which we are reeling today.
Adrienne Cornelsen
President and Chief Executive, InSite Interactive
I'd leverage the momentum and energy of his campaign to unite America and the world and to rebuild our global image. We must bring people together for a common good, disarm and defuse terrorist hatred, and create a morepeaceful relationship with all those whom we share this planet. Without improved international relations, war continues, costing us billions of dollars each year and further straining the economy. Not to mention, what if we get our economy on track, and then terrorists bomb our major cities? I'd show global leadership.
Trisha Wilson
Chief Executive, Wilson & Associates
I admire both the energy and prudence with which President- elect Barack Obama is addressing the economy and national security, which I believe to be the most urgent issues our country is facing today. These issues areclosely tied to health care, education and energy. With his appointments, he is seeking our nation's best and brightest to deal with these challenging times. I would aspire to do so as well.
Cole Egger
Entrepreneur
I have a hard time with companies and CEOs being bailed out when they have operated an inefficient business, refused change or participated in questionable ethical business practices, thus creating their own fate. The financial institutions and car manufacturers made hundreds of millions off stockholders and consumers over the last decade. Now that it has finally caught up to them, the government steps in, slaps them on the wrist andbails them out. Those who were in charge and were part of the management that led these companies to their downfall should be fired and stripped of their stock. I'd place tougher regulations and consequences for chief-level managers who have been in charge of these companies and gained so much from them while the companies were failing.
Barbara Buzzell
President, Buzzell Co.
I would work to re-establish the credibility and reputation of our government, both domestically and internationally. Whether through stupid business antics on Wall Street and in corporate boardrooms, wars around the world or attitudes (right or wrong) by our long-standing international allies, the United States needs to improve its standing in the eyes of world leaders and the world's citizens. I'd strongly express the essence of American democracy, our unmatched personal freedoms and reinforce why America is so great.
©2008 Angel Reyes