Loews (NYSE:L) CEO Jim Tisch was on Bloomberg's special, the American Dream, to discuss what it took to build the U.S. conglomerate Loews Inc. and what it means to live the American Dream. He discusses a number of lessons he learned from his father on how to run a business. he also discusses his outlook for the U.S. economy and natural gas production.
His thoughts -
-- Think about the low side first and don't worry about upside.
-- America's best days are ahead of us.
-- What gets us excited about a business: growth prospects and cash flow generation.
-- Natural gas: For every additional billion cubic feet of gas is produced, an additional 10,000 permanent jobs are added. If exporting of natural gas is allowed, upside will be even greater.
-- For exports of natural gas to happen all we need is the politicians to have responsible regulations but not try to micro manage the business.
-- Gas is going to take significant market share from oil, it has already taken from coal.
-- Economic challenges: too much pessimism in the market.
Here is the video:
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