Corporate Titans Optimistic in Butte

Aaron Flint posted on September 14, 2010 20:55 :: 954 Views

Whether it was via video, or live in person- credit goes to Senator Max Baucus (D-MT) and his staff for putting on what sounds like turned out to be a successful economic development summit.  It was a gathering of corporate titans- from GE’s Jeffrey Immelt, to the CEO of Disney, Warren Buffett and others.  But aside from the impressive guest list, let’s get to the heart of the matter: what are they going to get ouf the deal, and what are we going to get out of the deal.  

The first part of that question may never truly be clear, as the businessmen gathered there are sure to pressure Senator Baucus, chairman of the US Senate Finance Committe, for company perks.

As for the second part, Butte is looking to pick up some new jobs courtesy GE.  Nick Gevock with the Montana Standard  has this:

SeaCast will build high-tech parts for jet engines for a General Electric subsidiary at its new Butte facility, the company announced Monday at the Montana Economic Development Summit.

Earlier in the day Jeffrey Immelt, GE chief executive, cited SeaCast as an example of a high-tech company that was growing, adding jobs and pulling the United States out of the recession. And it’s also an example of how research and innovation in products to sell to markets worldwide are key to the future of the American economy.

“When I sell a jet engine in China, you win in Montana,” Immelt said.     

That news story raised an interesting courtesy of the blogger behind 2nd Grade Bike Rack: will the new GE backed facility in Big Labor stronghold Butte be staffed by union workers?

What you wanna bet that the Recovery Zone Bond projects like the Foreign Trade Zone in Butte, or the addition to the Port of Montana are associated with these deals. Butte, the “Union Label” (so to speak) with a widening Foreign Trade Zone. Crazy, Butte should be keeping it’s workers here in the U.S.A. The wool is firmly over the public’s eyes IMO.

Bloomberg News provides an insightful recap of the event, covering Warren Buffet’s “bullish” remarks on the economy, even in cow country Montana.  (Yep- Butte counts as cattle country too.)

“I am a huge bull on this country,” Buffett, Berkshire’s chief executive officer, said today in remarks to the Montana Economic Development Summit. “We will not have a double-dip recession at all. I see our businesses coming back almost across the board.”

The world’s largest economy grew at a 1.6 percent annual pace in the second quarter, exceeding the median forecast of economists surveyed by Bloomberg News, revised figures from the Commerce Department showed on Aug. 27. U.S. economic growth will slow to 2.5 percent next year from a projected 2.7 percent this year as unemployment above 9 percent tempers consumer spending, according to the median forecast of economists surveyed by Bloomberg News this month.

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