Honeywell Chairman and CEO Dave Cote appeared on Fox Business Network’s The Intelligence Report with Trish Regan to discuss what American businesses need from government to succeed and the importance of education to achieving “the American dream.”
“Government has two responsibilities when it comes to business. One is to regulate it, which none of us may like, but is absolutely essential to make sure that you have a least common denominator,” Cote said. “The other part of it is enabling. And that’s the part of it that government sometimes forgets. It’s one of the reasons that American business was so successful and such a fundamental part of the American success story for 200 years… It’s that government enabled business. They allowed it to flourish and be successful. So, things like education – when you have everyone coming into the workforce who’s literate, numerate, smart, ready to learn, interested in learning that creates a very different dynamic. Having a good Infrastructure that you can rely on – the roads, the potholes, broadband, ports… Good patent law, having a debt position that makes sense in the world. These are all things government does that enables business to be successful.”
Speaking to how he went from humble beginnings to being hailed in a recent issue of Barron’s Magazine as the leader of “The Company GE Wants to Be,” Cote said, “I don’t think we make it as easy today as we did then. Especially with education. When you go to schools today I don’t see that focus on math and science education, or software programming, something that’s going to become increasingly important in our lives. I just don’t think we pay enough attention to that, and that’s going to be the basis for a lot of people to be successful.”
Watch the full interview.