It Will Not Be Easy to Replace Larry Summers
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Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 5.4%
Revenue Growth %: -11.0%
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FOX Business Network's Charles Gasparino is reporting that the Obama Administration is having considerable trouble finding a replacement for Larry Summers as the leader of the National Economic Council.
The names that are being floated out there, like Xerox Corp. (NYSE: XRX) chief executive officer Anne Mulcahy, Dick Parsons, the Chairman of Citigroup Inc. (NYSE: C) and Jeff Immelt, CEO of General Electric Co. (NYSE: GE), are simply names being leaked out by the government to prove that they are looking to businesses for a replacement.
"The bottom line is those are merely leaks by the Administration to show they are considering business people," Gasparino said. "They are having a really difficult time finding somebody to replace Summers."
Gasparino sees Wall Street worrying about any shift to the left from a new Economic Council leader. Mulachy is seen as being centrist and an ideal candidate for businesses, but Gasparino does not believe she wants the job.
The names that Gasparino is hearing as possible replacements are bureaucrats that are already in the administration, including Gary Gensler. Diana Farrell, Deputy Economic Council Director, is another name that has come up.
The names that are being floated out there, like Xerox Corp. (NYSE: XRX) chief executive officer Anne Mulcahy, Dick Parsons, the Chairman of Citigroup Inc. (NYSE: C) and Jeff Immelt, CEO of General Electric Co. (NYSE: GE), are simply names being leaked out by the government to prove that they are looking to businesses for a replacement.
"The bottom line is those are merely leaks by the Administration to show they are considering business people," Gasparino said. "They are having a really difficult time finding somebody to replace Summers."
Gasparino sees Wall Street worrying about any shift to the left from a new Economic Council leader. Mulachy is seen as being centrist and an ideal candidate for businesses, but Gasparino does not believe she wants the job.
The names that Gasparino is hearing as possible replacements are bureaucrats that are already in the administration, including Gary Gensler. Diana Farrell, Deputy Economic Council Director, is another name that has come up.
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