Plan to Create 2 Million New U.S. Jobs SUNNY: Thank you for joining us today and agreeing to do our fist executive interview. Richard, months before the $700 billion bailout of Wall Street emerged you said, and I quote, "I have a plan to create 2 million net new U.S. jobs in 12 months". What caused you to start this 'Wealth Creation' initiative?
RICHARD: Sunny. I started thinking about potential solutions when the Federal government was deciding to issue taxpayers $150 billion in stimulus checks. For months preceding this move I was also tracking private equity firms -- the 'Gordon Geko types of Wall Street movie fame" -- while they raised more funds and bought a broad range of U.S. companies - then restructured laying off thousands and outsourced more jobs overseas. So far this year, 134 of those American companies taken private, or invested in, by buyout firms have filed for Chapter 11. Imagine the impact to the employees and supplier employees of those businesses and their surrounding communities. The sub prime and other disruptive economic trends got worse. Then came a new wrinkle and taxpayer burden, a $300 billion rescue of mortgage bankers, Fannie Mae, et. al. We were now in "A Perfect Storm". The nations path to sustainable economic growth was in jeopardy. America now, more than ever, needed to develop the means to build a highly diverse and robust business vehicle capable of producing jobs and delivering employment security. And, that is what I believe my 'Wealth Creation' plan will do.
SUNNY: The underlying and interrelated issues we face toda have placed our nation at risk. Best case -- we face a low or negative growth situation. Given all this...what is your 'Wealth Creation' plan - to reverse this trend? How would it work?
RICHARD: Before I get into my plan...which creates jobs in twelve months...we need to highlight other efforts. First, let's talk about what I'm not focused on and why. T. Boone Pickens has clearly and very effectively staked out the Energy Sector in his 'Pickens Plan'. He's on target with his 'war' approach. Unfortunately, his forecasted job growth of 200,000 to 2 million won't begin to happen in earnest for three or more years. Senator John McCain, who believes 700,000 jobs will be created by building 45 nuclear power plants is optimistic. At the very least it will take years just to complete the licensing approval process for one nuclear plant. Lastly, I expect the Federal government will soon write a large check - my guess $50 billion plus - targeting infrastructure projects which my plan would also not address. This $50 billion stimulus package will generate jobs. It will also pile on more future debt. The country needs this infusion and we all will pay a steep price for it.
SUNNY: The net net here...your plan is focused on immediate wealth creation opportunities.
RICHARD: Yes. The meat of this plan -- its overriding purpose -- to profitably create 2 million net new domestic U.S. Jobs for U.S. citizens in just 12 months. How possible? By targeting, anywhere in the U.S., market industries, sectors, segments and associated corporations ripe for capital and people investment, re-invention and transformation into segment leaders. All businesses models pursued will embrace two success achievement ingredients...One, value driven end-user customer focus. Two, career jobs creation. We also intend to build and grow innovative, higher risk, and intellectual capital driven businesses. The kinds that address emerging market and strategic growth opportunities.
SUNNY: So far, based on your plan description, sounds like you're taking companies who were previously product or service leaders and redesigning their going-forward business models. Doing this enables sustainable growth in highly competitive markets. Underlying current here... restore 'Made-In-America' and 'Buy America' in everything these businesses say and do.
RICHARD: Exactly, on both points.
SUNNY: What's your key differentiator as you take on this massive yet extremely worth while project?
RICHARD: There are three. First, we help preserve the American free enterprise system. Second, our vision 'of what could be' supported by strategies to best achieve measurable results. Third, passion for taking on highly complex problems, solving issues, growing teams, and building businesses -- tactical execution. Consensus...this is very challenging but doable.
SUNNY: You sold me. I'm in! Richard, the obvious next question, how do you pay for this plan?
RICHARD: This is a money making, wealth building activity for all parties involved. Options vary for funding sources to get this initiative going. Options include, private funding from one or more American billionaires, establish a blank check company to raise funds, or the government could be an investor...take a minority 'seed capital' equity stake. Could you imagine if the Federal government invested 10% of $700 billion, that is $10,000 per U.S. family with no equity or profit position, currently en-route to help financial markets stabilize.
I and many others believe creating 2 million net new jobs and career opportunities in viable businesses is the best strategic way to a national wealth creation machine that returns the nation to economic prosperity.
SUNNY: Richard, time for us to wrap up this session. Any last minute comments?
RICHARD: The sooner this 'Wealth Creation' initiative gets a 'green light' start the sooner we can put Americans back to work in meaningful and career oriented jobs. Recently Glenn Beck interviewed South Carolina, U.S. Senator Jim DeMint about the $700 billion bailout. DeMint said, " No one should be fooled by this at all. And once the government gets into something, it never gets out. We're basically selling out our free enterprise system here."..."The real frustrating thing, Glenn, is there are some things that we could do to make the free market work better. I mean we could lower our corporate tax rate. We know we need to do that. We could eliminate the capital gains tax. We could fix Sarbanes Oxley that's chasing capital offshore."
SUNNY: Richard should a reader of this interview want to help you, how can they best reach you?