People ask me, how is managing in the New Economy different from managing in the Old Economy? Actually, it's a lot the same. It's about the financial discipline of the bottom line, understanding your customers, segmenting your customers by their needs, and building a world-class management team.
In my judgment, we have to avoid, at all costs, tax increases. That would be the worst possible thing to do and will make a bad economy even worse. Beyond that, targeted tax relief should be expanded upon.
We can't impede progress in the name of environmental action that yields little for the environment and even less for our people.. and we should look at the environment as an economic opportunity.
One good thing about California is we have quite a broad-based economy. We provide more fruits and vegetables and produce to the United States than any other state. So we have actually the single largest agricultural sector in the country.
You know, I think, people of all stripes in California, Republicans, Democrats, conservatives, liberals, frankly, as I have traveled the state, the number one issue is jobs. And they are looking for which candidate can get the economy back on track.
Because what happens is, as the economy suffers, tax revenues go down. But unlike businesses, where at least your variable costs go down, in government your variable costs go up: unemployment insurance, workmen's compensation, health care benefits, welfare, you name it.
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