Today CEO Tisch has the following observations:
- Tisch thinks that the economy is not able to really gain momentum with the constant question marks in the air caused by the politicians in Washington not being able to solve outstanding issues.
- He thinks that the economy will keep chugging along at a sluggish 2% rate of growth just as it has for the past four years.
- Loews (L) is expanding in the hotel business because nobody else is (contrarian), and aggressively in the offshore drilling area. But overall he doesn't see many companies investing aggressively because of the political uncertainty.