CEOs on the Record: Disney, Southwest and SAP


What's on the minds of today's chief executives? Here's a sampling of what CEOs are saying on CNBC.

Thrill of a Weak Dollar

Robert Iger, Walt Disney CEO

"What we're finding is that people who record our shows generally watch them within one to three days of havong recorded them, and a larger percentage than we expected are actually watching commercials when they play their shows back on their DVR; the most popular shows tend to get recorded more often. The relationship we have with advertisers right now is actually quite strong."

Southwest Results

Gary Kelly, Southwest Airlines CEO


"The cost challenges are there. It's a bit weaker, demand environment, this year, domestically, so it's a tough environment to push through those fare increases, one after the other, but ... this was a nice improvement in the third quarter for us."

Bill McDermott, SAP America CEO

"This is the 15th consecutive quarter worldwide where SAP delivered double-digit growth in all geographies around the world, the 20th consecutive in the Americas, so the business is rock-solid. I guess, based on these robust results in Q3, investors want more."

Knowledge is Key

Jeff Arnold, HowStuffWorks Chairman & CEO

"Relative to the casinos that are in Pennsylvania and New York, those casinos have very high tax rates — 50 percent of revenues, 70 percent of revenues — and so they really can't afford to build a really nice facility or to offer the type of amenities that you normally find in Las Vegas. Here in Atlantic City, the gaming tax is much more reasonable. It's under 10 percent of revenues, and it allows you to build a Las Vegas-type facility and compete on a different level."

Stryker Earnings

Steve MacMillan, Stryker CEO

"Our 27th straight quarter of double-digit growth."

Let's Go to Vegas

George Maloof, The Palms Casino Resort Owner

"There's billions of dollars of construction happening on the Strip and around the Strip, including our Palms Place, that's set to open in the next two to three years, so there'll be a huge demand for jobs, which helps the housing market. Las Vegas is a very unique market, and I think we'll be OK."

Faber Exclusive

Randall Stephenson, AT&T CEO

"This whole globalization issue is being driven by communications, and I think AT&T ought to be at the heart of providing those communications capabilities. If you just look at our first place where we have gone aggressively, which is India: We're the first foreign carrier to be given a license to operate within India. We received that in 2006, we moved in very fast, we invested a considerable amount of money, and today those revenues are growing 40 percent year-over-year."

Earnings & More


Terry McGraw, The McGraw-Hill Companies Chairman, President & CEO

"The subprime market is a very solid, very good market. It provides access to people that normally don't have credit. It provides access to home ownership. Home ownership in this country has gone from 64 percent to 69 percent in large part because of the subprime market. What we're talking about is the 2005- and 2006-vintage loans. Within that, 36 percent of those loans were being used for speculation — people buying their neighbor's house, fixing it up and flipping it — and that created a lot of, some of the looser lending practices."

Oil & Economy


Frank MacInnis, Emcor Group Chairman & CEO

"Our customers are, generally speaking, large corporations. We work for around about three-quarters of the S&P 500, so, as long as corporate profits, and, therefore, corporate capital spending programs are solid and secure, and we think they are, for some time to come, the price increases that we have to pass along can be absorbed by our customers."


James Young, Union Pacific President & CEO

"We're not expecting strong recovery. Our outlook for the fourth quarter and even next year is pretty cautious in terms of any economic recovery.. the diversity of Union Pacific's franchise, where we're handling coal, agricultural products, chemicals business, all should show some growth next year, but it'll be on the lower end in terms of what we've seen historically."


William Zollars, YRC Worldwide Chairman, President & CEO

"We're now at levels we haven't seen since 2002. Normally we would feel the bottom about this time; we haven't felt the bottom, so I think we're very concerned.. we may be in a recession; I'm not sure we are, but just to kind of broaden out the conversation, we've got about 800,000 customers; we've got people that buy from us in every conceivable business segment; we've got about half our business in retail and half in manufacturing; so we're looking at a broad spectrum of activity, not just housing."