On March 26-28 Forbes will host its first Reinventing AmericaSummit in Chicago, Illinois (click for attendance details), a congress of more than 300 innovators, business leaders, growth-focused policy makers and academics who are helping usher in the next industrial revolution.
Leading up to the event, we’ve asked some of our participants to give us some quick insights into how they see economic conditions in the country–and their view on the future.
David Cote is chairman and chief executive officer of Honeywell and one of the most admired corporate leaders in the world. In addition to leading a reinvention and rejuvenation of Honeywell over the last decade or so, he’s had significant roles in shaping public policy including work on the bipartisan National Commission on Fiscal Responsibility and Reform and the Bipartisan Policy Center—Energy Project.
Cote, along with Bill Ford, Sam Zell, Harold Hamm, and a host of others, will be among the key speakers at the Reinventing America Summit. (Full list)
Forbes: On a scale of 1-5, how optimistic are you that the American economy has really turned a corner?
Cote: Assuming 5 is the best score, I’d say a 3.5. The U.S. economy is definitely improving but it’s still not robust and could easily be “distracted”. And, we still haven’t addressed our debt.
What’s your outlook for your industry/community for the next couple years? What makes you most excited? What are you pessimistic about?
I feel good about all of our business now. We’re concentrated in macro-trends that are doing well. Energy generation, energy efficiency, urbanization, infrastructure growth, aerospace … all are good. I’m not pessimistic about HON, but do have macro-economic concerns.
What overlooked trends do you see that hold promise for the overall economy and productivity? What, on the other hand, are being over-hypes?
The overall benefits and increased tax implications of energy generation in the US is being over-looked somewhat. On the over-hyped side, the “internet of things” will happen, but just not as fast as some believe.
If you were starting your career over right now what area of the economy/industry would you focus on? What holds the most promise for the coming decades?
I’d figure out how to own a business.
If you could say one thing to President Obama right about how best to foster growth in your industry or community, what would it be?
I would tell him to resolve our long-term debt issue.
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