You've been very critical of the U.S. business environment. How do you rate it now?
My biggest criticism has been from the standpoint of legislation and bureaucracy that create trouble for us when it comes to investing. From a business perspective, we do not work on month-to-month changes in government. If the government does a deal for 30 days, all that does is cause problems for us in deciding what we're going to do. So we're looking for other places to invest.
We've got to figure out how to cut back regulation so it's not in our way all the time, and also how to have a road map on taxation or any type of structure you want from a government. What are the rules? I want the rules laid out for five, 10, 15, 20 years. I know they have to be altered a little bit, but you've got to have a road map.
I've been very critical because I think government doesn't understand what it takes to invest, and I think we as a nation are sitting at a cusp of once again being a very strong global player. We can beat China on a global basis.
You play to your strengths -- entrepreneurship, education, the natural resources we have. Our people have historically been hard working. We're smart. We want to get an education, and we're very innovative. We can rebuild that entrepreneurship spirit and continue to be one of the global economic players.
At Emerson you succeeded one of the great CEOs of American business, Chuck Knight. What's the most important thing you learned from him?
Two things. One, develop the best people around you. Never compromise with people. Two, do not be afraid of taking on challenges that you would think are far beyond what you could do. Take on that risk. Do it. Chuck threw me into a lot of positions that people would have thought I should have never been in, but I succeeded. He drove us to do things that we never thought we could do, and that's why inside me today, I think I can do anything.