Barhorst attends Ohio Chamber Business Summit

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COLUMBUS — Ohio Association of Mayors President Mike Barhorst attended the Ohio Chamber of Commerce’s 2022 State of Business Summit held earlier this week in Columbus. The annual event, sponsored this year by JPMorgan Chase, featured a fireside chat between JPMorgan Chase CEO and Chairman Jamie Dimon and Ohio Chamber of Commerce President and CEO Steve Stivers.

The business summit included a candid exchange between Dimon and the audience about the impact of world events on business in Ohio and across the country. The fluent conversation included topics as diverse as the war in Ukraine, cryptocurrency, minimum wage, taxes, standard of living, the pandemic, the economy, the education system, and beyond.

When Stivers asked Dimon about the work-from-home phenomenon, Dimon was quick to respond. “While this may have been necessary during the pandemic, it is not good for the economy in the long run. It slows down decision-making, stifles creativity, and does nothing to promote ingenuity. Among the young people we hire, they want to go to work. They want to meet people. They want to date. They want to develop relationships. It’s hard to do that at home in front of a computer screen.

Responding to a question from Stivers about minimum wage, Dimon was candid. “The poorest 20% of workers haven’t had a pay rise for 20 years. Raising the minimum wage would help them, help the economy and be good for the country.

When it comes to education, Dimon compared the United States to Germany and Switzerland. “About 30% of students from each of the three countries attend university. In both Germany and Switzerland, the remaining 70% receive vocational training and enjoy excellent careers in a wide range of professions. It just doesn’t happen in America. As a result, we have an untrained workforce which hampers economic growth and leads to a host of societal problems.

When asked how government regulations hinder the growth of small businesses, Dimon was again candid. “There are a number of things that hinder business growth. Regulations are only one of them. Taxes are another. It is even more crucial to have a trained workforce. It’s hard to grow a business if you can’t find qualified employees. »

“I followed Dimon’s career with interest after he became Chairman and CEO of Bank One,” Barhorst said after the event. “At the time, Bank One was Sidney’s largest financial institution and a major player in the local economy. When Bank One merged with JPMorgan Chase and he became chairman of the newly merged financial institution, it was natural for me to continue to follow his career.

“Having the opportunity to represent the mayors of Ohio provided the opportunity to not only meet government officials from across the state and beyond,” continued Barhorst, “but executives like Dimon who have really contributed to shape the future of this country. It has been truly rewarding and beneficial to the city of Sidney.

The sold-out event took place in the rotunda of the Ohio Statehouse. After the fireside chat, attendees had the opportunity to meet members of the Ohio House and Senate who were in attendance.

JPMorgan Chase Chairman and CEO Jamie Dimon compares buying cryptocurrency to buying a pet rock.

JPMorgan Chase President and CEO Jamie Dimon answers a question from Ohio Chamber of Commerce President Steve Stivers during the Fireside Chat held at the Statehouse Rotunda at the Ohio Chamber of Commerce’s recent 2022 State of Business Summit.

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