Deloitte Hosts President Bill Clinton at Middle Market Perspectives Event

Deloitte CEO Joe Echevarria, Clinton discuss business, economic issues facing middle market companies

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Oct 19, 2011, 09:00 ET

NEW YORK, Oct. 19, 2011 /PRNewswire/ -- President Bill Clinton joined Joe Echevarria, chief executive officer, Deloitte LLP to discuss business insights with mid-market company leaders at the Deloitte Growth Enterprise Services "Private Perspectives" event, held in New York recently.

(Photo: http://photos.prnewswire.com/prnh/20111019/NY89005)

Speaking before 2,500 executives of mid-market companies throughout North America, Clinton shared his views on the current economic landscape, the health of the economy, jobs and the value middle market businesses deliver to the U.S. economy.

"I think we're not going to return to a full employment economy unless we make several...changes including trying to close the skills mismatch...We need a strategy to do it...because the longer we drag it out, the longer we're going to be stuck in unsatisfying patterns of growth," said Clinton. "The best thing that government can do is to move more aggressively to resolve the housing problems... [and] change the laws and incentives in the country to create more private sector jobs. I think this movement for example to lower the corporate tax rate and broaden the base is a very good thing to do."

Mid-market companies are the engine of the American economy and collectively represent $6.1 trillion in revenue – 40 percent of the national GDP – and employ 24.6 million people, according to the 2007 U.S. Economic Census. As such, the census finds they have a profound impact on key economic indicators such as U.S. unemployment and consumer spending.

"We fully recognize the importance of the middle market and value forums like ‘Private Perspectives' which give us the opportunity to collectively discuss the unique opportunities and challenges within this market," said Echevarria. "Deloitte is focusing on these businesses to discuss solutions to get the economy rolling again. The work Deloitte professionals do every day plays a crucial role in informing the investing public, protecting capital markets, helping thousands of medium- and large-sized companies, and supporting government at every level."

The event also featured a panel discussion led by Tom McGee, national managing partner, Deloitte Growth Enterprise Services, Deloitte LLP. Panelists addressed rising healthcare costs, threat of a double-dip recession, the national debt ceiling and the impact of the European debt crisis on the U.S. economy – critical issues for middle market enterprises as they continue to navigate their businesses in uncertain economic times.

"Mid-market executives have been forced to grow through incremental improvements versus relying on the rising tides of robust economic growth," said McGee. "This event allowed them to glean important insights on the changing economy and discuss fundamentals such as growth through innovation, productivity and efficiency."

Deloitte Growth Enterprise Services' "Private Perspectives" program includes live events, signature reports, research publications, webcasts, podcasts, and other materials targeted to mid-market and privately held companies. For more information, please visit Deloitte Growth Enterprise Services.

About Deloitte Growth Enterprise Services

Deloitte's Growth Enterprise Services team delivers a distinctive client experience through service offerings tailored to address the unique needs of mid-market and privately held companies.

As used in this document, "Deloitte" means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

SOURCE Deloitte LLP