Fri, Oct 04, 2013 - Page 15 News List

Financial executives warn Obama about shutdown

‘ADVERSE’ IMPACT:Goldman Sachs’ chief executive said lawmakers should not use the threat of causing the US to fail on its debt obligations as a cudgel to get their way

Reuters and AP, WASHINGTON and HARTFORD, Connecticut

If the shutdown continues through next week, the furloughs would extend to its Pratt & Whitney and UTC Aerospace Systems division, bringing the total number of employees on hold up to 4,000. That number could exceed 5,000 if the shutdown stretches into next month.

United Technologies employs about 218,300. Of its annual revenue of US$57.7 billion in 2012, US$10.1 billion came from the US government.

“This is what happens when House [of Representatives] Republicans decide that political gamesmanship is more important than people’s jobs,” Connecticut Governor Dannel Malloy, a Democrat, said. “It’s unconscionable that so many working families would be unfairly put in this situation.”

Members of Connecticut’s Democratic Congressional delegation also called for House Republicans to end the budget impasse.

“These wounds are tragically self-inflicted and dramatize the cumulative and increasing destructive economic effects of the shutdown,” Senator Richard Blumenthal said.

US Representative Rosa DeLauro, whose district includes Sikorsky’s headquarters, said: “The political games must end to keep these hardworking men and women on the job, prevent further pain for working families and end the damage it is inflicting on our economy.”

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